News & Insights #15

Jul 12, 2024

∙ Paid

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Below you find a brief overview of some of the latest posts.

Underlined items contain a link to the respective post/article.

2024/05/22 Hong Kong: The Experts (free)
2024/07/09 Hidden gem; software company with 60%+ upside (paid)
The toughest thing in investing (for me) continues to be assessing the discovery of a particular stock by other investors. Biorem and Sintana just flew higher very soon after I originally wrote about them. I was quite surprised that tiny Biorem acquired such a big following of investors. The European software business in this post👆 has similar potential as Biorem imo, with a much more defensive business, and there are not that many people talking about it yet. I am very curious to see how its discovery process develops.
2024/07/03 Follow-up on Benjamin #2 (paid)
Yes, that’s the Hong Kong listed staples company holding almost its entire market cap (91%) in cash, and trading at 6.5x P/E and a hsd dividend yield. In this post, I dive deeper into the competitive environment, developments in their various sales channels, and the latest expansion initiative.
This post includes a valuation table of selected absurd-cheap HK stocks (preview👇).

FAV/s: financial asset value per share, ie net cash + other financial assets per share

Biorem continues to have a lot of followers among readers on this substack. Let’s have another look how Biorem is developing from a numbers standpoint.
Firstly, I noticed a mistake in my original write-up on 👉 2024/01/22. I was sloppy in the enterprise value calculation👇, adding instead of subtracting.😳 My apologies! It was not my first mistake, and sadly it won’t be the last either, I’m sure. Luckily, I did ace 🎯 the investment thesis! 😅
In the table 👇, you find the updated numbers for the last reporting periods and my new ‘Base’ assumption for 2024. Do check whether I got the enterpise value correct this time.😬

Jam_invest