Mostly Borrowed Ideas Deep Dives, MBI Deep Dives

MBI Deep Dives

Mostly Borrowed Ideas Deep Dives

MBI is the abbreviation for “Mostly Borrowed Ideas”. Why “Mostly Borrowed Ideas?” As a generalist, I do not have a background in any particular sector. I enjoy navigating across industries, businesses, and countries to learn, understand, and connect the dots. In any case, most ideas and innovations are incremental in nature. Very few of us are smart enough to come up with truly original or groundbreaking ideas. I am Abdullah Al-Rezwan. I was born and brought up in Bangladesh. I went to University of Dhaka for my undergrad and majored in Finance. After working three and half years in Equity Research (Sell-side) covering Financial Sector in Bangladesh, I left Bangladesh to pursue my MBA in the US. I graduated within top 10% of the class from Cornell University's two-year MBA program and worked on the buy-side following my graduation. During my time at Cornell, I won two stock pitch competitions and also became finalists in four other competitions. I thoroughly enjoyed my stint as a generalist in the US large cap team at Madison Investments and covered a wide range of companies from UnitedHealth to Amazon and Boeing before US immigration reality paused my career in investment management. As my work authorization expired, I moved to Canada in January, 2021. Then in early 2022, I was able to return to the US.

Equity Bottom-Up

<ul><li>Dollar General (DG)’s stock had an interesting reaction to today’s earnings.</li><li>First it went up by ~6% in pre-market, but then ended the day 5% down.</li><li>Despite the somewhat bizarre stock price reaction throughout the day, I think the worst days are likely behind DG.</li></ul>

Dollar General (DG)’s stock had an interesting reaction to today’s earnings.First it went up by ~6% in pre-market, but then ended the day 5% down.Despite the somewhat bizarre stock price reaction throughout the day, I think the worst days are likely behind DG.

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/trial-holdings-inc" target="_blank" data-smartkarma-citation="entities:36821:1" rel="noopener">Trial Holdings (5882 JP)</a>, a discount store operator in Japan, is seeking to raise US$236 million at the IPO reference price of JPY1,550 per share.</li>
<li>We previously discussed the IPO in <em><strong><a href="https://www.smartkarma.com/insights/trial-holdings-ipo-the-investment-case" target="_blank" data-smartkarma-citation="insights:130521" rel="noopener">Trial Holdings IPO: The Investment Case</a></strong></em>. </li>
<li>In this note, we discuss valuation. Our analysis suggests that Trial is attractively valued at the IPO reference price of JPY1,550. We would participate in the IPO.</li>
</ul>



Trial Holdings (5882 JP), a discount store operator in Japan, is seeking to raise US$236 million at the IPO reference price of JPY1,550 per share.
We previously discussed the IPO in Trial Holdings IPO: The Investment Case. 
In this note, we discuss valuation. Our analysis suggests that Trial is attractively valued at the IPO reference price of JPY1,550. We would participate in the IPO.


Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Dollar General Corporation managed to exceed the revenue and earnings expectations of Wall Street.</li><li>Dollar General reports a 2.4% increase in net sales to $9.7 billion in Q3, focusing on market share growth and addressing challenges like declining same-store sales.</li><li>In supply chain management, Dollar General aims to optimize inventory within distribution centers, implement productivity improvements, and reduce reliance on temporary warehouse facilities.</li></ul>

Dollar General Corporation managed to exceed the revenue and earnings expectations of Wall Street.Dollar General reports a 2.4% increase in net sales to $9.7 billion in Q3, focusing on market share growth and addressing challenges like declining same-store sales.In supply chain management, Dollar General aims to optimize inventory within distribution centers, implement productivity improvements, and reduce reliance on temporary warehouse facilities.

Dollar General Corporation: Leading the Market in Strategic Real Estate Expansion! - Major Drivers

<ul><li>Dollar General Corporation's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings expectations.</li><li>Due to higher average borrowing amounts and interest rates, interest expense climbed to $84 million in Q2 from $43 million in Q2 of last year.</li><li>Dollar General has experienced a significant drop in its stock value this year, sparking speculation about potential activist investors eyeing the company.</li></ul>

Dollar General Corporation's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings expectations.Due to higher average borrowing amounts and interest rates, interest expense climbed to $84 million in Q2 from $43 million in Q2 of last year.Dollar General has experienced a significant drop in its stock value this year, sparking speculation about potential activist investors eyeing the company.

Dollar General Corporation: Activist Interest Looms After Recent Drop! - Major Drivers

Guasty Winds Investment Ideas, Guasty Winds

Guasty Winds

Guasty Winds Investment Ideas

I am a full-time private investor, ex-L/S. I document my investment portfolio decisions and share my work here.

<ul><li>After spectating DG for some time, I bought a small starter position in June. It is not often that you get a chance to buy a compounder like this 35% from its highs.</li><li>Historically it has paid to buy the dips on DG, so I figured I would buy now and ask questions later.</li><li>This time it has not paid, at all. My average was ~$185 and I sold my stock last monday at $168. I know that some of my subs also follow the stock so I thought I would collect my notes and write up a few paragraphs.</li></ul>

After spectating DG for some time, I bought a small starter position in June. It is not often that you get a chance to buy a compounder like this 35% from its highs.Historically it has paid to buy the dips on DG, so I figured I would buy now and ask questions later.This time it has not paid, at all. My average was ~$185 and I sold my stock last monday at $168. I know that some of my subs also follow the stock so I thought I would collect my notes and write up a few paragraphs.

United States

Dollar General Corporation operates a chain of discount retail stores located primarily in the southern, southwestern, midwestern, and eastern United States. The Company offer a broad selection of merchandise, including consumable products such as food, paper and cleaning products, health, beauty, pet supplies, and non-consumables such as seasonal merchandise.

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Dollar General (DG US)

Dollar General 4Q'23 Update

Dollar General (DG)’s stock had an interesting reaction to today’s earnings. First it went up by ~6% in pre-market, but then ended the day 5% down.

MBI Deep Dives

Trial Holdings IPO: Valuation Thoughts

Trial has upsized its IPO from US$236m to US$260m by launching its IPO at JPY1,600-1,700 per share vs. the reference price of JPY1,550. The offer...

Arun George

Dollar General Corporation: Leading the Market in Strategic Real Estate Expansion! - Major Drivers

Dollar General Corporation managed to exceed the revenue and earnings expectations of Wall Street. Dollar General reports a 2.4% increase in net...

Baptista Research

Dollar General Corporation: Activist Interest Looms After Recent Drop! - Major Drivers

Dollar General Corporation's results were a major disappointment as the company failed to meet Wall Street's revenue and earnings...

Baptista Research

Dollar General (DG-US) - It's a trap!

After spectating DG for some time, I bought a small starter position in June. It is not often that you get a chance to buy a compounder like this...

Guasty Winds

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