Since Monday is a holiday, so my post will be slightly early than the usual Monday Post. First of all, I would like to thanks to my subscribers for sticking with me despite there are so many high quality authors/investors out there. Thanks for spending your most important resources: Time to go through my reading materials, my stock pitches, etc.
I am not Santa but I would like to give my subscribers a special gift for this Christmas. It is to anyone that is eager to learn more about investing. Below is one of my favorite publications - Graham & Doddsville latest issues and it is pack with gems. Let’s dive right in!!!
An investment newsletter from the students of Columbia Business School, 48th edition by Graham & Doddsville
"Graham & Doddsville" refers to a famous investment newsletter created by Benjamin Graham and David Dodd. It is a series of interviews on Fund managers as well as stock pitches by them. There are different investing styles by them but I particularly resonate with Value Creators Capital due to their advocate to high quality investing. (one of his stock pitch overlap with mine. Eg: Copart)
It is a must read for anyone that is looking to venture into the investment world, for investing advice, for stock ideas, for learning how to pitch, etc.
1.Michael Marone and John Rolfe, from Crescent Rock Capital :
KBR Inc KBR 0.00%↑ : A turnaround play for an engineering and construction (“E&C”) company due to increase in government related services company
Gerresheimer AG (GXI.DE) : A pharma packaging company that reposition itself for the rise of GLP-1s drug (a weight loss drugs) by selling the specialty syringes, autoinjectors and pumps
Melrose Industries (MRO.L): A restructuring play from conglomerate to being a pure play aerospace company
Sanken Electric (6707:Japan): A classic special situation opportunity revolving around a listed company owning a crown jewel that is worth more than its own company (Activist looking to restructure and unlock value for shareholder)
2.Ric Dillon, Jenny Hubbard, and Brian Hilderbrand, from VELA Investment Management
BWXT Technologies BWXT 0.00%↑ : A value play for a defense stocks due to misunderstanding that cuts on defense by the US defense ministry will collapse their business
Casey’s General Stores CASY 0.00%↑ : A high quality convenience store chain that is underfollow and undervalue
Kirby Corp KEX 0.00%↑ : The leader in the inland barge business in the United States with a good track record in acquisitions (cyclical play)
3.Yaron Naymark, founder of 1 Main Capital
Dental Corp (DNTL.TO) : A serial acquirer for dentistry that is resilient in any economic cycle with high margin, expanding scale, etc (undervalued)
IWG (IWG.L) : A bigger version of WeWork but with a different business model. Helping real estate owners to manage their space and in return, they earn a 15% management fees (Asset light, high margin, etc)
Limbach LMB 0.00%↑ : A specialty contractor focused on HVAC and other building control systems for mission-critical infrastructure assets such as data centers, hospitals, and biotech research labs. Transitioning towards smaller, owner directed projects that have higher margins, less working capital
intensity, and less variability
4.Kevin Fogarty and Kevin Nichols, of Value Creators Capital
AMETEK AME 0.00%↑ : A niche industrial company that manufactures high quality products, strong pricing power, good track record in acquisition, etc
Copart CPRT 0.00%↑ : A high quality business in the auto salvage business with dominant market share, capital light, high profitability, great capital allocator, etc but there is a terminal risk concern such as autonomous vehicle
Bonus points: Winners from the University challenges
2023 Pershing Square Challenge (1st Place)
Lithia Motors LAD 0.00%↑ : A dominant car dealership with strong track record of acquisition, family owned and tailwind.
12th Annual Darden @ Virginia Investing Challenge (1st Place)
Paypal Holdings, Inc PYPL 0.00%↑ : A value play as the company remains solid with a lot of negativity price in such as Apple pay eroding Paypal button, Low margin for Braintree, etc.
2023 CSIMA Stock Pitch Challenge (1st Place)
Vertiv Holdings Co VRT 0.00%↑ : A company that sells critical infrastructure solutions (Power, Cooling, IT infrastructure, and service/maintenance) for Data Centers, Communication, and Industrials. (A classic Pick and shovel play during the Gold Rush or this case, “Cloud Rush”)
The above is just a quick summary by me and my advice is to read the full article to gain a better understanding. I will end the article with quote by Monish Pabrai:
“There is no shame in cloning : The Monish Pabrai Way”
Lastly, wish all my subscribers Merry Christmas!!!
Estimated reading time: 35 minutes
Disclosure: I am not affiliated to any of the authors or writers and didn’t receive any monetary compensation. It is merely for education purpose and my passion for investing. I might own stocks pitched by them and please do your own due diligence. Cheers!!!