Fundamental Analyses, Contrarian Cashflows

Contrarian Cashflows

Fundamental Analyses

The purpose of Contrarian Cashflows is to document my investment research and share it with everyone who is interested in value investing. My long term aspiration for Contrarian Cashflows is to become a platform for professional investors and serious amateurs where they can get inspiration and discuss investing-related topics.
I plan to publish one company deep dive per month that is guided by my investment approach. All information I use for my write-ups is publicly available and most of the time directly sourced from public filings issued by the respective companies. To guarantee maximum transparency, for every post I provide a list of all used sources in the resources section.
Contrarian Cashflows is built around the principles of respect, honesty, open-mindedness and a touch of humour. Please consider these principles in any engagement interaction with me, other readers and the content on this blog. Misbehaviour is not tolerated.
If you want to reach out to me directly, the best way is via LinkedIn, Twitter or email. You can find the details at my homepage contrariancashflows.com

Thematic (Sector/Industry)

<ul><li>I recently came across a thought-provoking blog post by Andrew Walker on his YAVB discussing the possibility of a bubble forming in quality stocks.</li><li>Although Andrew acknowledged that the title might be seen as provocative, he raised valid concerns about the potential challenges of achieving satisfactory returns in the future by investing in quality-growth-at-a-reasonable-price stocks, given their lofty valuations.</li><li>As an example, he pointed to Costco, which is presently trading at a P/E ratio of 50 despite its long-term expected growth rate only slightly surpassing that of the US GDP.</li></ul>

I recently came across a thought-provoking blog post by Andrew Walker on his YAVB discussing the possibility of a bubble forming in quality stocks.Although Andrew acknowledged that the title might be seen as provocative, he raised valid concerns about the potential challenges of achieving satisfactory returns in the future by investing in quality-growth-at-a-reasonable-price stocks, given their lofty valuations.As an example, he pointed to Costco, which is presently trading at a P/E ratio of 50 despite its long-term expected growth rate only slightly surpassing that of the US GDP.

Equity Bottom-Up

<ul>
<li>This month, I had the privilege of attending an investment conference, where I engaged with many successful value investors and independent thinkers.</li>
<li>During one conversation, an investor jokingly remarked that everyone seems to have shifted toward "quality growth investing," while he and Mr. Robotti appear to be among the few who still favor cyclical stocks, such as Tidewater Inc.</li>
<li>Although I don't generally shy away from cyclical stocks, I recognize the immense challenge of navigating the capital cycle by investing in companies that seem on the brink of failure.</li>
</ul>


This month, I had the privilege of attending an investment conference, where I engaged with many successful value investors and independent thinkers.
During one conversation, an investor jokingly remarked that everyone seems to have shifted toward "quality growth investing," while he and Mr. Robotti appear to be among the few who still favor cyclical stocks, such as Tidewater Inc.
Although I don't generally shy away from cyclical stocks, I recognize the immense challenge of navigating the capital cycle by investing in companies that seem on the brink of failure.


<ul><li>Welcome back to the portfolio updates series! This month, I enjoyed a long vacation with my family, spending three weeks traveling through Italy by car.</li><li>We began our journey from our home near Munich, which allowed us to traverse the entire country from north to south and back again.</li><li>We entered Italy through South Tyrol and drove down to Tuscany, where we spent a week. Afterward, we continued our journey all the way down to Puglia, where we stayed for ten days before making the return trip.</li></ul>

Welcome back to the portfolio updates series! This month, I enjoyed a long vacation with my family, spending three weeks traveling through Italy by car.We began our journey from our home near Munich, which allowed us to traverse the entire country from north to south and back again.We entered Italy through South Tyrol and drove down to Tuscany, where we spent a week. Afterward, we continued our journey all the way down to Puglia, where we stayed for ten days before making the return trip.

External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

<ul><li>Lindbergh S.p.A. provides specialized logistics services for industrial maintenance &amp; repair operations in Italy and France, with high barriers to entry</li><li>Strong unit economics with zero customer and revenue churn most years, over 90% of revenue from recurring contracts</li><li>Recent expansion into B2C thermohydraulic MRO services market in Italy, strong competitive advantage and potential for growth</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Lindbergh S.p.A. provides specialized logistics services for industrial maintenance &amp; repair operations in Italy and France, with high barriers to entryStrong unit economics with zero customer and revenue churn most years, over 90% of revenue from recurring contractsRecent expansion into B2C thermohydraulic MRO services market in Italy, strong competitive advantage and potential for growthThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

<ul>
<li>I recently had a conversation with a close friend and fellow investor, during which he shared his current research interest in the dollar store concept.</li>
<li>He emphasized that this business model aligns with criteria conducive to long-term shareholder returns.</li>
<li>Given the scarce presence of dollar stores in Germany, primarily due to socioeconomic factors, I sought clarification on the underlying concept from him.</li>
</ul>


I recently had a conversation with a close friend and fellow investor, during which he shared his current research interest in the dollar store concept.
He emphasized that this business model aligns with criteria conducive to long-term shareholder returns.
Given the scarce presence of dollar stores in Germany, primarily due to socioeconomic factors, I sought clarification on the underlying concept from him.


Italy

Lindbergh is an Italy-based group providing value-added logistics services for Maintenance, Repair & Operations (MRO), Heating, Ventilation, Air Conditioning (HVAC), and Circular Economy segments. It offers night deliveries of spare parts, industrial waste management, and HVAC system installation and maintenance. The company is headquartered in Pescarolo ed Uniti, Italy, and was founded in 2006.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Lindbergh (LDB IM)

Portfolio Update: April 2024

I recently came across a thought-provoking blog post by Andrew Walker on his YAVB discussing the possibility of a bubble forming in quality...

Contrarian Cashflows

Portfolio Update: September 2024

This month, I had the privilege of attending an investment conference, where I engaged with many successful value investors and independent...

Contrarian Cashflows

Portfolio Update: August 2024

Welcome back to the portfolio updates series! This month, I enjoyed a long vacation with my family, spending three weeks traveling through Italy...

Contrarian Cashflows

Lindbergh (LDB) - Monday, Apr 1, 2024

Lindbergh S.p.A. provides specialized logistics services for industrial maintenance & repair operations in Italy and France, with high barriers to...

Value Investors Club (VIC)

Portfolio Update: March 2024

I recently had a conversation with a close friend and fellow investor, during which he shared his current research interest in the dollar store...

Contrarian Cashflows

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)