adamsoderlund.com
DFDS – Analysis 2015-04-20 | Adam Söderlund
http://www.adamsoderlund.com/dfds-analysis-2015-04-20
Market value has more than doubled since the beginning of 2013, from 3892 MDKK to 9146 MDKK today. Valuation to high? Continuous share buybacks at a high price. Goodwill growing from acquisitions. Share options diluting current shareholders - not connected to business fundamentals and no downside for the awarded employee. What is this business worth? Average book value growth at 4,29% annually last 10 years. Income per share is based on comprehensive income. 10 year average ROE is at 6,58%. 20 April, 2015.
adamsoderlund.com
Sign up | Adam Söderlund
http://www.adamsoderlund.com/buenaventura-bvn-analysis-4th-quarter-2014
I started practicing value investing in 2013. Before that I read most of what I could find on the subject from Benjamin Graham, Seth Klarman, Joel Greenblatt, Howard Marks, Bruce Greenwald and others. CAGR (Compounded annual growth rate): 16,86%. My overall theme is protection of principal. If you limit your downside the upside will take care of itself. I look at asset valuation and earnings power valuation and would like to have margin of safety on both. Quote from Seth Klarman in "Margin of Safety":.
adamsoderlund.com
Tethys Oil | Adam Söderlund
http://www.adamsoderlund.com/category/tethys-oil
Category Archives: Tethys Oil. Tethys Oil (TETY) Analysis 2015-04-20. Financially strong and impressive book value growth last 5 years. Current oil price might be a good buy opportunity. A lot of cash on the balance sheet and have started to give cash back thru buybacks and dividend. What is this business worth? 10 year average annual book value increase of 22,98%. 5 year average annual book value increase of 43,84%. 54% upside looking at the most pessimistic 10y annual average. 21% upside on 3y average.
adamsoderlund.com
Sign up | Adam Söderlund
http://www.adamsoderlund.com/bonheur-bon-analysis-4th-quarter-2014
I started practicing value investing in 2013. Before that I read most of what I could find on the subject from Benjamin Graham, Seth Klarman, Joel Greenblatt, Howard Marks, Bruce Greenwald and others. CAGR (Compounded annual growth rate): 16,86%. My overall theme is protection of principal. If you limit your downside the upside will take care of itself. I look at asset valuation and earnings power valuation and would like to have margin of safety on both. Quote from Seth Klarman in "Margin of Safety":.
adamsoderlund.com
Wilh. Wilhelmsen Holding (WWIB) – Analysis 2015-03-13 | Adam Söderlund
http://www.adamsoderlund.com/wilh-wilhelmsen-holding-wwib-analysis-2015-03-13
Wilh Wilhelmsen Holding (WWIB) – Analysis 2015-03-13. 2014 was not a great year but book value keeps growing at a decent rate over time. Downside protection with a valuation at 0,57 * tangible book. What is this business worth? 76% upside on tangible book value. Last 10 years increase of book value shows an average of 10,13% yearly. 78% upside. 10yEPV equals an upside of 90%. 5yEPV equals an upside of 98%. Disclosure: The author had no position when this post/analysis was written. 13 March, 2015. Cnooc (...
adamsoderlund.com
Analysis | Adam Söderlund
http://www.adamsoderlund.com/category/analysis
American International Group (AIG) Analysis 2016-02-06. AIG increases value for its shareholders thru buy backs and dividends. The compounded annual growth rate was 6,15% last 3 years. AIG's goal is to grow its book value by 10% a year. ROE target long term is 10%. What is this business worth? Earnings have to come up to a 10% ROE to justify book value. Right now a 3% downside looking at the 5yEPV. Disclosure: The author had no position when this post/analysis was written. This entry was posted in AIG.
adamsoderlund.com
DFDS | Adam Söderlund
http://www.adamsoderlund.com/category/dfds
Market value has more than doubled since the beginning of 2013, from 3892 MDKK to 9146 MDKK today. Valuation to high? Continuous share buybacks at a high price. Goodwill growing from acquisitions. Share options diluting current shareholders - not connected to business fundamentals and no downside for the awarded employee. What is this business worth? Average book value growth at 4,29% annually last 10 years. Income per share is based on comprehensive income. 10 year average ROE is at 6,58%. 20 April, 2015.
adamsoderlund.com
Bonheur (BON) – Analysis of 4th quarter report released today | Adam Söderlund
http://www.adamsoderlund.com/bonheur-bon-analysis-of-4th-quarter-2014-released-today
Bonheur (BON) Analysis of 4th quarter report released today. Analysis of 4th quarter report released today can be read by members here. Buenaventura (BVN) 4th quarter report released today. Bonheur (BON) Analysis 2015-05-17. Bonheur (BON) Analysis 2015-02-12. BVN second quarter 2014. This entry was posted in Analysis. 18 February, 2015. Bonheur (BON) Analysis 4th quarter 2014. Buenaventura (BVN) Analysis 4th quarter 2014 →. Leave a Reply Cancel reply. Your email address will not be published. American In...
adamsoderlund.com
Adam Söderlund | Adam Söderlund
http://www.adamsoderlund.com/author/admin
Author Archives: Adam Söderlund. American International Group (AIG) Analysis 2016-02-06. AIG increases value for its shareholders thru buy backs and dividends. The compounded annual growth rate was 6,15% last 3 years. AIG's goal is to grow its book value by 10% a year. ROE target long term is 10%. What is this business worth? Earnings have to come up to a 10% ROE to justify book value. Right now a 3% downside looking at the 5yEPV. Disclosure: The author had no position when this post/analysis was written.
arbetsliv.se
Personliga mål | Arbetsliv.se
http://www.arbetsliv.se/category/personliga-mal
För ett bättre arbetsliv. Glöm dina mål. Fokusera på ditt system istället. Vi har alla mål vi vill nå i våra liv; komma i bättre form, starta företag, bilda familj, skriva en bok osv. För de flesta av oss påbörjas processen med att sätta ett specifikt mål. Men viktigare än målet i sig är systemet du har byggt för att nå ditt mål. Vad är skillnaden på mål och system? Om du är tränare är målet att laget skall vinna. Systemet är vad laget tränar varje dag för att nå målet. Ja, med stor sannolikhet. När du s...