Our Blog

Elekta AB: Short Company Intro

This weeks post is an introduction of a (well known) Swedish company. After several guidance adjustments, the company has disappointed some investors and the share has dropped significantly; potentially by too far? We will try to give an overview of the business itself.     The Business Sweden-based Elekta develops, manufactures, and distributes treatment planning […]

Weekly links and Banque Privee Edmonde de Rothschild

Hello readers, we are sorry for the recent slowdown in blogging activities which are mainly due to time constraints and restrictions on what we can and would like to publish, but the good news is that we will publish two new company analyses in the near future. As I’m recently working on quantitative value portfolios, […]

Some Links

Dear followers, the time has come again for our weekly link collection. This time featuring an enlightening article on management compensation, how Charlie Munger picks stocks, seven patterns of inefficiency when pricing a business, some thoughts from the Brooklyn Investor and an ‚Economist‘ comment on John Nash’s nobel price 1994, in remembrance of his great […]

Value Essentials: Financial Shenanigans

Welcome to a further piece of our ‚Value Essentials‘ series. ‚Financial Shenanigans‘ is written by Howard M. Schilit, PhD, CPA and Jeremy Perler, CFA, CPA. It presents an empirical journey through many accounting tricks in an entertaining way while teaching its readers what to look for when analyzing balance sheets. This blog post is by […]

METKA S.A.: One of the cheapest companies in the world?

Today we would like to present you METKA, which is probably one of the cheapest stocks in the world. Before we start with actual valuation, we provide an executive summary as this is a rather long post. Afterwards we would like to highlight the history of this over 50 year old company.   1. Executive […]

Happy Easter! Some useful links and some thoughts.

Dear followers, first of all, we want to wish happy easter to all of those who celebrate! As you know, we share some useful reading from time to time. These are some easter eggs that we think you might like: Credit Suisse on merging fundamental and quantitative analysis: The article starts with a Kasparov Quote: “Weak human […]

Two upcoming presentations on Value investing and some useful links

After the success of our last presentation one year ago we are happy to announce two upcoming presentations about value Investing. The first will be held by us at the 23.02.2015 19.30 on the EBS Campus in Oestrich-Winkel in room N3 the presentation will be presented in german and will deal with an introduction to […]

Why Value Works: Low Trading Volume

    One aspect or explanation why Value works is the low trading volume which is often typical for companies in which we invest. A new paper by Roger Ibbotson and Thomas Idzorek, Roger Ibbotson is a partner at Zebra Capital Management and finance professor at Yale and Tom Idzorek is head of investment methodology […]

Update: Banque Privee Edmond de Rothschild

Recently BPER announced a change in the CEO position of the Group and the CHF jumped after the Swiss National Bank abandoned the CHF/EUR exchange rate of 1,20. Ariane de Rothschild will replace Christoph de Backer, which served BPER for three years, on the 31.01.2015. You can read the full press statement here. You can […]

Looking back on 2014 and ahead on 2015

This year was the year with my lowest portfolio return which was till 1.12.2014 6.21% after taxes and trading costs including an average cash level of 27.8%, the final result with volatility will be send to me on the 17th of January, but I don’t think that there will be a big difference in the […]