Monday Morning Links 2023 Week 30

Global stock-related links

Americas:

• Invariant on Philip Morris International (🇺🇸 PM US － US$151 billion)

• Eagle Point Capital on Occidental Petroleum (🇺🇸 OXY US － US$54 billion)

• Upslope Capital on Garmin (🇺🇸 GRMN US － US$20 billion)

• Analyzing Good Businesses on U-Haul (🇺🇸 UHAL US － US$11 billion)

• Value Don’t Lie on Vistra Corp (🇺🇸 VST US － US$11 billion)

• Breeley Capital on Restoration Hardware (🇺🇸 RH US － US$7.9 billion)

• Hedge Fund Girl on Mattel (🇺🇸 MAT US － US$7.5 billion)

• Tidefall Capital on First Horizon Bank (🇺🇸 FHN US － US$7.1 billion)

• Capital Incentives on Encore Wire (🇺🇸 WIRE US － US$2.9 billion)

• Global Stock Picking blog on spin-off ZimVie (🇺🇸 ZIMV US － US$375 million)

Europe:

• Tech Investment Ideas on semi giant ASML (🇳🇱 ASM NA － US$21 billion)

• East72 Dynasty Trust on French holdco Bolloré (🇳🇱 BOL FP － US$20 billion)

• Undervalued Shares on Bains Mer Monaco (🇫🇷 BAIN FP － US$3.7 billion)

• No Deep Dives with an update on V-ZUG (🇨🇭 VZUG SW － US$527 million)

Asia-Pacific

• Fabricated Knowledge on TSMC’s earnings (🇹🇼 2330 TT － US$465 billion)

• IJW on automation supplier Hollysys (🇨🇳 HOLI US － US$1.1 billion)

• The Mikro Kap on developer Nisshin Group (🇯🇵 8881 JP － US$172 million)

• Emerging Value on manga “play” Beaglee (🇯🇵 3981 JP － US$49 million)

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(estimated reading time)

• Steve Clapham: A blueprint for 10-baggers (8 mins)

• Pyramids and Pagodas on Tom Burgis’s book The Looting Machine (6 mins)

• Edward Finley-Richardson on the platform supply vessel sector (2 mins)

• Inevitability Research: a recap of Twitter’s LBO (20 mins)

• Hoisington’s 2Q2023 letter discussing inflation & money supply (6 pages)

• Warden Capital’s 2Q2023 commentary on US housing (17 mins)

• Bernzott Capital on Golden Entertainment, Enovis, Mr Cooper etc (4 pages)

• Silver Beech on Asbury Automotive, Playa Hotels, Alphabet (9 pages)

• 1Main Capital letter on Basic-fit, Dentalcorp, IWG, KKR, Limbach (9 pages)

• TGV Partners Fund on Tucows, Naked Wines etc (9 pages) (h/t: Value&Oppty)

• Cedar Creek’s 2Q2023 letter on Propel Media, IQVIA and more (7 pages)

• Moon Capital’s 2Q2023 letter on First Horizon, Canadian Natural (14 mins)

• LVS Advisory’s 2Q2023 letter on Gogo and Interactive Brokers (5 pages)

• Alluvial Capital’s 2Q2023 letter with a discussion on Logistec (9 pages)

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(listening time)

• Seth Klarman: yet another episode on value investing in 2023 (1:36 hours)

• A roundtable of Doomberg, Alhajji, Rozenzweig discussing energy (1:07 hours)

• Sebastian Mallaby on the rise of VC and his book The Power Law (1:01 hours)

• Lux Capital’s Josh Wolfe with ideas on how to invest in “AI tech” (1:01 hours)

• Author Brendan Ballou discussing his new book Plunder (33 mins)

• Dan Rasmussen thinks PE firms are trouble at current interest rates (1:05 hours)

• Kiril Sokoloff of 13D on asset allocation in US, China, EMs (39 mins)

• Maverick Real Estate’s David Ariram & Ted Martell on distressed debt (46 mins)

• TSOH’s Alex Morris discussing US restaurant chain Cava (38 mins)

• Tenebrist’s James Reynolds on int’l stocks like Dino Polska, Jiumaojiu (46 mins)

• Ben Harburg at MSA Capital on investing in Chinese equities (44 mins)

• Quo Vadis Capital’s John Zolidis on fashion brand Lululemon (47 mins)

• Cove Street Capital’s Jeff Bronchick & Andrew Leaf on Ecovyst/Viasat (59 mins)

• Canadian’s Charles Frischer & Asheef Lalani on Fairfax Financial (1:23 hours)

• Bireme Capital’s Evan Tindell on the bull case for Airtel Africa (1:03 hours)

• Primary Vision dissecting recent data on the Chinese economy (18 mins)

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A rally in Ukrainian government bonds might signal a resolution to the conflict. Source: The Daily Shot, Bank of America Global Research

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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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