Monday Morning Links 2023 Week 22

Global stock related links

• Invariant Substack on tech company Meta (🇺🇸 META US － US$672 billion)

• Librarian Capital on Mastercard (🇺🇸 MA US － US$355 billion)

• Librarian Capital on software developer Intuit (🇺🇸 INTU US － US$117 billion)

• Margin of Safety on auto auction company Copart (🇺🇸 CPRT US － US$42 billion)

• StockOpine on HVAC company Carrier Global (🇺🇸 CARR US － US$34 billion)

• Canadian Dividend Investing on Pembina Pipeline (🇨🇦 PPL CA － US$17 billion)

• Undervalued Shares on residential REIT Vonovia (🇩🇪 VNA GR － US$15 billion)

• 10th Man Deep Dives on dialysis provider DaVita (🇺🇸 DVA US － US$8.6 billion)

• Elliott’s letter to the board of utility NRG Energy (🇺🇸 NRG US － US$7.8 billion)

• Moram on oil & gas E&P New Fortress Energy (🇺🇸 NFE US － US$5.3 billion)

• Capital Incentives on RV maker Thor Industries (🇺🇸 THO US － US$4.4 billion)

• Vestrule on Distribution Solutions Group (🇺🇸 DSGR US － US$960 million)

• Wintergems on terminal operator Logistec (🇨🇦 LGT/B CN － US$565 million)

• Breeley Capital on UK fashion retailer ASOS (🇬🇧 ASC LN － US$501 million)

• Canadian Dividend Investing on Pizza Pizza (🇨🇦 PZA CN － US$265 million)

• Hurdle Rate on software developer Entersoft (🇬🇷 ENTER GA － US$150 million)

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(estimated reading time)

• Calafia Beach Pundit: “soft landing thanks to surplus M2” (4 mins)

• Philoinvestor discussing George Soros’ investing style (5 mins)

• Variant Perception’s EM bottom picking checklist (2 mins)

• Stock Spinoff Investing: new spin-offs as of May 2023 (7 mins)

• Ariel Investments’ March 2023 semi-annual report with commentary from all their funds, US as well as international (60 pages)

• Emerging Value’s introduction to 20 Japanese tech ideas (22 pages)

• Conestoga Capital Advisors’ 1Q2023 letter discussing US SMID caps (41 mins)

• Wedgewood Fund’s 1Q2023 letter on US tech & US banks (36 mins)

• Apricitas Economics: Americans' excess savings are mostly spent (9 mins)

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(listening time)

• SumZero: Top stocks 2022 presentation hosting several investors (2:23 hours)

• Jim Rogers talking about the US banking crisis, currencies, AI, etc. (31 mins)

• Mohnish Pabrai at the University of Nebraska (58 mins)

• Chuck Akre: lessons from 54 years of investing experience (21 mins)

• Variant Perception’s Tian Yang thinks a recession is near (1 hour)

• BCA Research's Doug Peta providing his market outlook (38 mins)

• Craig Fuller of FreightWaves on the weakness in US trucking (51 mins)

• Dan Rasmussen of Verdad talking about the private equity industry (36 mins)

• Oil market veteran Paul Sankey: the oil bull market is over for now (1:06 hours)

• Rob Arnott on why UK stocks are bargains right now, from the 10” mark (51 mins)

• James Davolos from Horizon Kinetics on metals royalty companies (1:06 hours)

• Alex Morris of TSOH Substack on Buffett-style investing & Microsoft (49 mins)

• Mostly Borrowed Ideas on the bull case for Microsoft (1:22 hours)

• Roy Behren of Westchester Capital with his 3 best merger arb trades (48 mins)

• Cullen Roche on US monetary policy and his current outlook (1:04 hours)

• Karthik Sankaran on whether the RMB poses a threat to the US Dollar (49 mins)

• Chit Chat Money with a deep-dive on Boeing (1:05 hours)

• Luis Sanchez discussing in-flight connectivity system developer GoGo (46 mins)

• Business Breakdown breaking down retailer Restoration Hardware (1:01 hours)

• Ben Axler of Spruce Point on the short case for Perion Networks (30 mins)

• Adam Wik at Greystone discussing Canadian tech company Sylogist (39 mins)

• Johan Rozali-Wathooth discussing the Southeast Asian PE industry (57 mins)

• Platinum Asset Management: “Exciting times for Japanese equities” (5 mins)

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The median home prices in the US posted the biggest decline in over a decade in April. Source: @charliebilello, Smartkarma, Redfin

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Interested in Asian equities? Check out my sister publication Asian Century Stocks, which provides deep-dives on value stocks in the Asia-Pacific region:

Disclaimer: Monday Morning Links uses information sources believed to be reliable, but their accuracy cannot be guaranteed. The information contained in this publication is not intended to constitute individual investment advice and is not designed to meet your personal financial situation. The opinions expressed in such publications are those of the publisher and are subject to change without notice. You are advised to discuss your investment options with your financial advisers, including whether any investment suits your specific needs. From time to time, I may have positions in the securities covered in the articles on this website.