The Great Irish Share Valuation Project V

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Better Capital, Dart Group, FL Partners, Irish Continental, Jon Moulton, Marketspreads, Paddy Power, Pageant Holdings, Petroneft Resources, Ryanair, Siteserv, Smurfit Kappa, TGISVP, Total Produce, Tullow Oil, TVC Holdings, United Drug, UTV Media, Worldspreads, Zamano

Continued from here:

Before tackling the next batch of stocks, some readers may want to revisit my first TGISVP post. This project’s not about doing a detailed writeup/valuation on each stock. Sure, I spend ample time on each stock (on a best efforts basis)**, but less than if I were making an investment and/or doing a detailed writeup. That’s why I label these rough and ready valuations! On average, yes I’d expect detailed and rough & ready valuations to be similar, but ‘average‘ is key here..! Take a closer look at any company, and my new valuation could be (possibly significantly) higher, lower or unchanged vs. my original valuation.

What this project is designed to do: i) Illustrate the wide variety of valuation assumptions/approaches that can be applied depending on each individual company/situation, and ii) provide a cheatsheet to highlight the potentially best (and worst!) Irish stocks, on an absolute (or relative) basis, that may merit further research and potential purchase/sale.

Console, Ireland – All Donations Greatly Appreciated

[Apologies if you've already received/seen this post...in less than perfect form. I've had a ton of publishing problems, and Console's donations page was down (but now restored). Hopefully this should be the final/complete post - thanks again for your patience.]

To all Wexboy readers, a big thank you. Page views are increasing rapidly, so it looks like more and more people are becoming regular readers. I hope you’ve found some good investing ideas here, and some topics that challenge and motivate your own investing analysis and approach. That’s certainly what I look for – and find – when I read some of the excellent blogs out there. If you’ve any questions, comments, or suggestions, please don’t hesitate to reach out to me.

I’m launching a donation appeal – officially for March 2nd, but I thought it a good idea to begin with this advance post. If you read, enjoy and/or feel like you’ve benefited in some small way from this blog, I’d like to ask you to please express that appreciation by making a donation, however small, to Console.

How About Another Catalyst? (Part VII)

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activist investors, Clearance Capital, DCD Media, EIIB, HBG Holdings, Joe Lewis, Laxey, Leo Fund Managers, Max Property, Minco, Net LTV, Nick Leslau, Principle Capital, Quintain Estates, Sirius, stockbrokers selling sandwiches, Taube Hodson Stonex, Terra Catalyst, Timeweave, Weiss

Continued from here:

In my previous post, I highlighted over a dozen listed activist investor vehicles (some at v interesting discounts) you can invest in. Additionally, you might also want to look at individual company situations – as I commented about activists: ‘Use them wisely (and profitably) to cherry pick and/or endorse your conviction stocks.’ Here are some interesting examples:

Timeweave (TMW:LN):   I’ve written here about Timeweave, which has Joe Lewis on board with 29.99%, with another 5% in the hands of Leo Fund Managers. TMW has a steady business, pots of cash, and a whopping 10.4% dividend yield. If you strip out cash, it’s actually on a 4.7 P/E! Despite all this, it can’t seem to get any respect – take a look at the share price. But we all know shares like this, and wonder when we’ll see a decent return…

Trinity Biotech, Be My Valentine… <3

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Adriana Lima, Clearstream Technologies, Ex-Cash Ratios, FBD Holdings, intrinsic value, Owner-Operator, Price/Sales, relative value, Richland Resources, Trinity Biotech, Valentine's Day, value investing

To celebrate Valentine’s Day, I thought it was only fitting that I write about my favourite stock… For some of us, Valentine’s is still about love and constancy. (Not that the Valentine’s ‘industry’ agrees – much as I enjoyed this ad, among others, the increasingly strident commercial ‘come-on’ that a gift guarantees sex seems far too crass for all concerned). So, I’m not going to fall for some hot young tramp like Richland Resources (RLD:LN)…

Instead, I wanted to revisit my fondest love, Trinity Biotech (TRIB:US). How did she win my heart? Well, she’s never let me down, about 40% of her market cap consists of cash, I currently have a 265% gain on my average entry price, I see 30% upside from the current price (with a secondary price target that offers 68% upside), and it’s my largest portfolio position at 7.6%!

Siteserv – Best Irish Joke?

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distressed, garbage stocks, Siteserv, TGISVP

I recently commented on Siteserv (SSV:ID or LN) here, and as I worked on another set of valuations for TGISVP, I couldn’t resist returning to the subject:

Any chance the Exchange could put a health warning on this PoS?! Management muppets were recently forced (in response to media comment!) to come out with a statement. The key sentence is: ‘At this stage it is not possible to predict the outcome of this exercise nor quantify the financial impact for shareholders.‘ Don’t be fooled, there’s only one way this ever works out: Zero value or absolutely massive dilution for shareholders.

The Great Irish Share Valuation Project IV

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Atlantic Resources, Austevoll, Continental Farmers Group, Hoarders, Independent News & Media, Limited Brands, Merrion Pharm, Origin Enterprises, Ormonde Mining, Ovoca Gold, Paddy Power, Petroceltic, Petroneft Resources, Polymetal, Prime Active Capital, Providence Resources, Readymix, Ryanair, TGISVP

Continued from here:

OK, time to tackle another batch of 10 Irish stocks. First, let me insert the Excel files. Again, all market prices (and FX rates) are updated, so this is a live snapshot of all stocks covered to date (with each stock’s upside/downside potential also recalculated vs. its valuation).

As I’ve mentioned before, please feel free to provide your own Price Targets on the Template sheet – it would be greatly appreciated by me, and many of my readers. If you disagree with some of my valuations, this is a great way to express yourself! I think we can all learn a lot more from divergent rather than convergent views on stocks..! Here are full notes/instructions if you wish to submit any Price Targets.

I’m Not Just an Investor…I’m a Cunning Linguist!

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Arturo P, investment writeup

Hi folks, I’ve previously clarified what I am, and what I’m not (ugh, a Trader?!). To continue, I’m delighted to announce I’ve added to my polyglot skills, and can now confidently write/converse in Spanish, in addition to Irish, French and Korean (some might disagree…). To celebrate, here’s my first post in Spanish!

OK, only kidding…one of my regular readers, Arturo P (who’s Spanish and currently living in London), emailed me recently to discuss republishing some of my posts in Spanish. Sounded like a good idea, and I was interested that Arturo highlighted that the simple act of translation enhanced his understanding and insights. This is fascinating, and I think an excellent reminder that all forms of writing enhance your analytic skills and understanding when investing. I know this is one of the motivations for my own blog – sure, writing/research take time, but overall it’s definitely a net plus for my investing process and performance.

Feeling Blue? Try Some Richland Resources

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natural resource stocks, tanzanite, De Beers, Richland Resources, Gemfields, Bezant Resources, Waterford Crystal, luxury goods, tsavorite, Tiffany & Co, Pallinghurst Resources, Ian Harebottle

Continued from here:

Let’s throw in a final negative – hmm, again, I’m not sure it’s a negative, maybe we should tick it as a neutral?!:

d) I was surprised to see a recent announcement confirming Bernard Olivier‘s been appointed CEO of Bezant Resources (BZT:LN) (which has granted an intriguing option on its Mankayan project to Gold Fields (GFI:SJ)). He wants to be CEO of two companies simultaneously?! Jesus, my ambition is to be CEO too…but just for one day, and then gracefully retire on a quite modest package..!

Feeling Blue?

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De Beers, diamonds, emeralds, Gemfields, Mohs Scale, Richland Resources, Royal Wedding, sapphires, Special Mining License, Tanzania, tanzanite, Tanzanite One, Tepper rally, The Tanzanite Experience, The Tanzanite Foundation

Tanzanite is a trichroic blue (-violet) gemstone. Trichroism is a rare gemstone phenomenon, in tanzanite’s case it displays blue, violet and flashes of burgundy (or yellow or green) depending on crystal orientation. The biggest premiums are paid for stones that are a deep royal blue, similar to sapphires.

Tanzanite was first discovered (as a Zoisite) in the late ’60s, and it took off when Tiffany & Co (TIF:US) renamed it and began marketing it. To date, the US has been the biggest market, with tanzanite often chosen as a birthstone for new mothers. In 2002, it was also designated as a December birthstone, the first revision since 1912 in the AGTA‘s birthstone list.

On The Way To Damascus…

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Damascus, garbage stocks, natural resource stocks, quantitative easing

Some people may have got the impression that I hate natural resource stocks..?!

Not true at all! In fact, natural resources in the ground are maybe one of the few things in our history that politicians and central banks have not been able to debase. You should definitely grab some (more) for your portfolio, especially now the Fed seems hellbent on reflating the US, and the entire world. (I recommend you watch this quantitative easing primer - v precise, and hilarious too!).

But if you stray from the industry giants, buying into the oil & gas/mining sectors is like entering the lion’s den. Be wary! The old quote ‘A mine is just a hole in the ground with a liar on top‘ still holds true far too often, except now the miners have such cushy numbers they actually believe their own hype…