Elevator Pitch/TLDR Gaming Realms is a B2B provider of a unique gaming IP in an expanding market that is growing EBITDA at 30%+ yet trades at 7x EV/EBITDA ‘24F. Company Develops, publishes, and licenses gaming content with a focus on “Slingo” that was acquired from RealNetworks in 2015 for £12m. Slingo is a combination of bingo and slots. The game is licensed to online casinos that … Continue Reading
Evolution AB – An opportunity due to market noise.
Market leader with a high return on capital and competitive advantages stemming from an incomparable quality product/offering and constant innovation. A compounder with potential optionality in a stable and scalable business. TL; DR (“too long; didn’t read”) Evolution is a B2B software gaming company. Gaming (casino) is evolving due to significant innovation in products. Online is taking … Continue Reading
Tencent is cheaper than you think
Tencent hidden assets results in a cheap bet on a compounder that is a dominant player active in industries expected to grow at double digits. Company Tencent is the Chinese company famous for its 1.3 billion users’ app that is called WeChat. WeChat is not just a messenger type service but a super app. Under the WeChat hood there are mini-programs that act like apps. Once in WeChat, the user has … Continue Reading
The gold standard in travel is a GARP play
The gold standard of travel is a solid long-term growth at a reasonable price (GARP) play. Company Description Booking Holdings (BKNG) is the global market leader in online travel. Via the company’s six consumer-facing brands (Booking.com, KAYAK, priceline, agoda, Rentalcars.com and OpenTable), customers can make accommodation reservations (hotel or alternative stays like Airbnb), book … Continue Reading
J&J – set it and forget it
At the Cyprus Value Investor Conference, I presented Johnson & Johnson as an idea. The most diversified health care company in the world offers a conservative investor reasonable returns with an extremely low probability of loss. Before I go into the details, it is important to give you some background. This idea was for a conservative high net worth … Continue Reading
Value Vs Growth: Don’t Bother
One of the most popular and frequent articles that pop up recently are those discussing value versus growth. These articles typically define value investing as stocks with a low multiple (eg. low price to book) and growth investing those with high multiples. Usual conclusion is the value hasn't been working for years and that value investing is dead. Now unless you are a … Continue Reading
Cyprus Value Investor Conference
Most events are a waste of time and expensive. We create the event that we would want to go to. We want to hear and discuss investment ideas that we can invest in, develop relationships with investors from all over the world, and not cost an arm and a leg. The event is currently at the beautiful 5* beachfront Grecian Park Hotel. Current sponsors are Grant Thorton and eToro. Past sponsors have included Refinitiv, E&Y, Prisma Analytics and we have had the support of the CFA Society Cyprus since inception. This is a private by-invitation event. See the conference website if you interested in joining us.