Monday Morning Links 2023 Week 29

Global stock-related links

Americas:

• Right Tail Capital on US homebuilder NVR (🇺🇸 NVR US － US$21 billion)

• Overlooked Alpha: a primer on Enovix (🇺🇸 ENVX US － US$3.3 billion)

• WinterGems on Richelieu Hardware (🇨🇦 RCH CN － US$1.9 billion)

• Atai Capital on Bel Fuse (🇺🇸 BELFB US － US$747 million)

• JustValue on Hibbett Sports (🇺🇸 HIBB US － US$478 million)

• Tech Investment Ideas Substack on Valens Semi (🇺🇸 VLN US － US$252 million)

• SSI on High Arctic Energy Services (🇨🇦 HWO CN － US$47 million)

Europe:

• From $100K to $1M on Basic-Fit (🇳🇱 BFIT NA － US$2.5 billion)

• Mr Market Miscalculates on Kinepolis (🇧🇪 KIN BB － US$1.3 billion)

• Picolinie Capital on Green Landscaping Group (🇸🇪 GREEN SS － US$418 million)

• Moram on Italian Wine Brands (🇮🇹 IWB IM － US$233 million)

• Iggy’s Substack on Interlife (🇬🇷 INLIF GA － US$99 million)

• ConserValue on SIF Italia (🇮🇹 SIF IM － US$26 million)

• Value Focus Investing on Safestyle UK (🇬🇧 SFE LN － US$32 million)

Asia-Pacific

• Eloy Fernandez on badminton gear giant Yonex (🇯🇵 7906 JP － US$948 million)

• Oriental Value with an update on Oriental Watch (🇭🇰 398 HK － US$286 million)

• Asian Century Stocks on IH Retail (🇭🇰 1373 HK － US$271 million)

• Mokapu Capital: update on SUTL Enterprise (🇸🇬 SUTL SP － US$36 million)

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(estimated reading time)

• KKR on global macro trends as of mid-2023 (68 mins)

• Noah Smith: Who got the 2020s inflation right? (14 mins)

• Pyramids and Pagodas on the Turkish lira (5 mins)

• Ben Thompson on Meta’s new Threads app (14 mins)

• Joachim Klement: Investors believe ESG stocks offer lower return (2 mins)

• Variant Perception on the TIPS market (3 mins)

• Johan Lunau: The Tao of Charlie Munger (14 mins)

• Santa Lucia AM: the counterintuitive opportunity among China’s SOE (20 pages)

• Kyle Bass’s presentation on China at the Hudson Institute (22 pages)

• Jonathan Ruffer’s July 2023 investment review (7 mins)

• Packer & Co’s June 2023 report, with a conservative portfolio (6 pages)

• Gehlen Bräutigam’s 5-year review with a (European) portfolio update (15 mins)

• Silver Beech Capital’s 2Q2023 letter on Google, Playa Hotels, Asbury (13 mins)

• Pernas Research’s 2Q2023 letter, discussing SES imagotag and Zumiez (5 mins)

• Old West’s 2Q2023 letter with a discussion on SmartRent (6 mins)

• Vltava Fund’s 2Q2023 letter with some discussion of Google, Stellantis (12 mins)

• Forager Fund’s June 2023 review discussing Australia/int’l shares (23 mins)

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(listening time)

• Seth Klarman on Jim Grant’s Current Yield podcast (44 mins)

• David Einhorn at the Value Investors Conference in May this year (18 mins)

• IMF central banking expert Peter Stella with a broad macro outlook (1:01 hours)

• Warren Pies on the surprising strength in the US economy (53 mins)

• Aaron Edelheit on opportunities in the US cannabis industry (43 mins)

• Columbia professor Michael Robbins on quantitative investing (1:16 hours)

• Hawkins Entrekin discussing Vornado and NYC real estate (1:09 hours)

• Avi Fisher on industrials, construction companies and Matrix Services (1:08 hrs)

• Colarion Partners' Sam Haskell on US banking stocks (1:01 hours)

• David Witkin on the basics of merger arb investing and LIV / PGA (32 mins)

• Ex-SAC Arvind Sanger on the sustainable energy “revolution” (1:17 hours)

• Will Schreiber on SaaS company Toast (51 mins)

• Leoniv Mironov on the economics of the crude palm oil market (1:29 hours)

• Marc Faber on Vietnamese stocks and more (45 mins)

• Kamil Dimmich on why his fund is 45% invested in Greater China (25 mins)

• Richard Koo on the risk of Japan-style lost decade in China (53 mins)

• US Select Committee on the CCP hearing on doing business in China (2:14 hrs)

• Verdad’s Dan Rasmussen on his bullishness for Japanese shares (59 mins)

• Andrew McDermott providing the case for the Japanese market (1:02 hours)

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Hong Kong’s retail sales has recovered nicely in 2023 after the city’s COVID-19 restrictions were eased. Source: Jefferies

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

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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.