Month: Juni 2014

Hornbach Baumart AG First Quarter Update and potential catalyst

Since our last post some interesting things happened which we think are still not reflected in the share price of the Hornbach Baumarkt AG.   1. The representatives of Kingfisher, which had owned 25% of the common stocks of the holding and 5% of the Baumarkt shares have left the supervisory board and have sold […]

Weekly Links + thoughts on entrepreneurship & value investing

You can find a really good article about amazon and its business model and its long-term perspective in the latest economist, her is the link to the  „short“ online version. About the, in our opinion, value trap of taxi medallions and potential value investment in the business behind it due to disruptive innovation such as […]

Dangote Cement and the miracle of 51% EBIT margin

Intro   This blog post will take us to a continent which is not usually our investment ground. It’s a look on possibly one of the most profitable companies emerging in Africa. It is called ‘Dangote’ and founded by Alhaji Aliko Dangote, a Nigerian entrepreneur who, after studying Economics in Cairo, started importing rice, sugar […]