PayPal – Mispriced, Misunderstood, and Stronger Than Ever (Q3 Review)PayPal Holdings, Inc. – PYPL
Pitch Summary: PayPal is significantly undervalued, trading at a low earnings multiple despite strong fundamentals and strategic realignment under new leadership. The company is expanding its commerce platform capabilities, improving user engagement, and maintaining robust cash flow generation, positioning it for long-term growth. BSD Analysis: PayPal is leveraging its strong brand and extensive user base […]
Meta: The good, The bad, and The UglyMeta Platforms, Inc. – META
Pitch Summary: Meta’s recent earnings report showed strong revenue growth and increased ad impressions, but concerns over high capital expenditures and the performance of Reality Labs have led to a sell-off. The company’s guidance suggests significant capex costs that could impact profitability, especially if revenue growth slows. Investors are cautious due to the high valuation […]
1 Jahr Szew SubstackJSE – JSE.JO
Pitch Summary: JSE was pitched for its stable business model and low valuation, with positive performance. BSD Analysis: JSE was selected for its stable business model and attractive valuation, similar to GPW. The stock has performed well, delivering positive returns. The company remains in the portfolio with a high weighting, as it continues to benefit […]
1 Jahr Szew SubstackBolsa Mexicana – BOLSAA.MX
Pitch Summary: Bolsa Mexicana was pitched for its stable business model and low valuation, but performance has been negative. BSD Analysis: Bolsa Mexicana was included for its stable business model and attractive valuation, similar to GPW. However, the stock has underperformed, leading to a negative return. The company remains in the portfolio with a high […]
1 Jahr Szew SubstackKinnevik – KINVB.ST
Pitch Summary: Kinnevik was pitched for its potential to reduce the NAV discount through successful IPOs of major holdings. BSD Analysis: Kinnevik’s investment thesis centers on reducing the NAV discount through successful IPOs of its major holdings. Although performance has been slow, the company’s key investments are showing positive developments, positioning them as potential IPO […]
1 Jahr Szew SubstackMolten Ventures – GROW.L
Pitch Summary: Molten Ventures was pitched due to its historical NAV discount and strong core position development. The stock remains in the portfolio with further potential. BSD Analysis: Molten Ventures was selected for its significant NAV discount and positive developments in core positions. The company has partially closed the discount, but further upside remains, supporting […]
1 Jahr Szew SubstackHBM Healthcare – HBMN.SW
Pitch Summary: HBM Healthcare was part of the investment company pillar, reducing its NAV discount. The stock was sold after realizing gains. BSD Analysis: HBM Healthcare was included in the investment company pillar to capitalize on reducing the NAV discount. The company successfully narrowed the discount, leading to a profitable exit. The position was sold […]
1 Jahr Szew SubstackCewe – CWC.DE
Pitch Summary: Cewe was selected for its solid business model, low valuation, and share buybacks. The position remains in the portfolio. BSD Analysis: Cewe’s investment thesis is based on its stable business model, attractive valuation, and ongoing share buybacks. The company’s fundamentals remain strong, supporting the decision to keep the stock in the portfolio. Cewe […]
1 Jahr Szew SubstackWestwing – WEW.DE
Pitch Summary: Westwing was a special situation play, with technical factors leading to a quick price recovery and profit realization. BSD Analysis: Westwing’s investment was driven by a special situation, where technical factors kept the stock undervalued. The situation resolved shortly after purchase, allowing for rapid profit realization. The company remains interesting, but macroeconomic conditions […]
1 Jahr Szew SubstackZalando – ZAL.DE
Pitch Summary: Zalando was part of the e-commerce pillar but struggled due to economic headwinds, impacting growth expectations. BSD Analysis: Zalando’s inclusion in the e-commerce pillar was based on its solid business model, but economic challenges have hindered expected growth. The company reported stable financials, but the macroeconomic environment remains a headwind. The stock is […]
1 Jahr Szew SubstackDelivery Hero – DHER.DE
Pitch Summary: Delivery Hero was part of the e-commerce pillar but faced challenges due to Prosus’s divestment, leading to an exit. BSD Analysis: Delivery Hero was included in the e-commerce pillar but was quickly exited due to Prosus’s need to divest its stake, creating uncertainty. The company’s business model remains attractive, but macroeconomic conditions and […]
1 Jahr Szew SubstackEurokai – EUZ.DE
Pitch Summary: Eurokai was pitched as a sum of the parts story, with potential obscured by loss-making terminals. The investment remains attractive with unrealized potential. BSD Analysis: Eurokai’s investment thesis focused on unlocking value obscured by loss-making terminals, particularly in Wilhelmshaven. The stock has realized some potential, but significant upside remains, making it a high-weighted […]
1 Jahr Szew SubstackTinexta – TNXT.MI
Pitch Summary: Tinexta was pitched as a sum of the parts story, with hidden value in its diverse business segments. The value realization was swift, leading to a quick exit. BSD Analysis: Tinexta’s investment thesis was based on unlocking hidden value across its diverse business segments. The market quickly recognized this value, resulting in a […]
1 Jahr Szew SubstackKGHM – KGH.WA
Pitch Summary: KGHM was included for its strong position in copper and silver. The stock was sold with the commodity pillar’s dissolution, but patience could have captured more gains. BSD Analysis: KGHM was part of the commodity pillar due to its strong positioning in copper and silver. The stock was sold when the pillar was […]
1 Jahr Szew SubstackGPW – GPW.WA
Pitch Summary: GPW was bought for its defensive business model and low valuation. The stock remains attractive due to accelerated growth and favorable regulatory changes. BSD Analysis: GPW was selected for its stable business model and attractive valuation. The company’s growth has accelerated since the initial analysis, and new laws promoting the capital market are […]
1 Jahr Szew SubstackGrupo Mexico – GMEXICOB.MX
Pitch Summary: Grupo Mexico was pitched as a play on reducing NAV discount and rising copper prices. Both elements of the thesis materialized, leading to a successful investment. BSD Analysis: Grupo Mexico was part of a strategy to capitalize on the reduction of NAV discount and the rising copper prices. The investment thesis was validated […]
1 Jahr Szew SubstackKaspi – KSPI.KZ
Pitch Summary: Kaspi faced challenges due to rising inflation and interest rates in Kazakhstan, along with regulatory headwinds, leading to a negative stock performance. BSD Analysis: Kaspi’s stock performance was negatively impacted by macroeconomic factors in Kazakhstan, including rising inflation and interest rates, which contrasted with global trends. Regulatory challenges further pressured the stock, resulting […]
1 Jahr Szew SubstackInter&co – INTR
Pitch Summary: Inter&co was identified as undervalued compared to Nubank, with significant potential for price appreciation. The stock price increased by 118% over 10 months, reducing the valuation gap with Nubank. BSD Analysis: Inter&co was pitched as undervalued compared to Nubank, with a market cap disparity suggesting significant upside. Over 10 months, Inter&co’s price rose […]
1 Jahr Szew SubstackNürnberger Beteiligungen – NBG6.DE
Pitch Summary: Nürnberger Beteiligungen was initially bought for fundamental reasons but quickly became an acquisition case. The stock was sold after takeover speculation at €65, although the final offer exceeded expectations at €120. BSD Analysis: The investment in Nürnberger Beteiligungen was initially based on fundamental valuation, but it turned into an acquisition play. The stock […]
1 Jahr Szew SubstackB3 – B3SA3.SA
Pitch Summary: B3 was pitched due to its attractive valuation compared to peers, despite high interest rates in Brazil. The stock is not currently in the portfolio but remains a candidate if conditions improve. BSD Analysis: B3’s valuation is attractive compared to its peers, but high interest rates in Brazil (15%) impact its relative valuation. […]
