Sabvest: Unique Opportunity

What makes for a good investment? Simple: (1) Quality underlying, (2) Growth / yield / return, & (3) Underpaying for all this. What makes a good investment fit into a diversified portfolio? Simple: (4) Being as little correlated to existing investments … Continue reading

What is Wescoal Worth?

I have written plenty on Wescoal Holdings (WSL) before and I will not repeat it here, other than to reference these background links: Wescoal: So Much Upside Potential Wescoal Operational Update What Happens When a Junior Miner Grows Up? Likewise, … Continue reading

Valuation of Blue Label Telecoms

Blue Label Telecoms (BLU) released a complicated set of H1:18 results. For the Group’s full presentation, click through to here. While I’ve heard arguments about how obfuscated and complicated these result’s accounting is, this argument reflects more on how these … Continue reading

Illustrating Investing in the Small Cap Cycle

I have drawn this rather crude illustration of what some call the “small cap cycle”. The Y-axis of profit stands for the growing profits of the business as well as the increasing investment returns over time (as, in the long-term, … Continue reading