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Sale #9: Sold Oliver’s Real Foods

I’ve sold Oliver’s Real Foods (ASX: OLI), hopefully not permanently, but I’ve seen a few things that made me uncomfortable. In a nutshell it appears to me as though this company is being managed for the short term, not a lifetime. The original thesis went like this: Oliver’s has great niche and underserved customers, minimal competition …

Sell #5: Sold Crowd Mobile

I’ve sold my stake in Crowd Mobile (ASX:CM8). The thesis broke. I wrote this piece prior to the half year result, so info from the half year was not factored into my sale decision. Originally Crowd was priced at 5x-ish cash flow and I figured they’d have debt paid down in a ~year. Given the …

Big Trouble In Big Un

I am totally staggered by this BIG situation, but I’m late to this story. Although I thought the Tipsly transaction was unusual, I didn’t pick any problems with BIG and in fact I had a hard look at its books late last year and I couldn’t see any obvious warning signs. So I did not …

10foot Scuttlebutt: February 2018 edition

Back with another version of scuttlebutt, some stuff I’ve seen or thought recently. I am particularly keen to get thoughts and opinions on alternative investments & the UK fin services sector. Buffett buys Teva Has Warren lost the plot? He’s bought a stake in Teva Pharmaceuticals which has an at EV/EBITDA of 12ish and something …

The Greatest Business On Earth

I have discovered what I believe to be literally the best business on Earth. Facebook?  Google?  Alibaba?  Fraud manufacturing? Nup. It’s the Australian Securities and Investment Commission (ASIC) corporate database, ASIC Connect.  This thing is a moneymaking machine. Let me put this to you. Zero customer acquisition and marketing costs – if you need a corporate report, …

Getswift: Data Talks, Bullshit Walks

The title of this piece comes from an interview with Getswift (ASX:GSW) executive chairman Bane Hunter.  He’s spot on: Hunter has a clear message for all startup founders seeking US investment: “Data talks, bullshit walks,” he says.  He advises founders to “be conservative and over deliver” when speaking to investors, because “everything you say is going to …

A lengthy screed on Tower Limited

I’m revealing my undisclosed 10th purchase a little sooner than expected: It’s Tower Insurance Limited (ASX: TWR). I expect a 3-5 year holding period from here, subject to business performance. Conditions are also not quite as favourable as I had hoped for, so I have taken a smaller position with a view to increasing if a better …

Purchase #10: Tower Limited

One of the things I struggle with most with my ‘Buy’ pieces is the overlap between explaining what the opportunity is – which is easy – and explaining the thought process and research that lead to me believing that it is an opportunity – which is hard.  Doing both at the same time usually leads …

Sale: Sold Mayne Pharma

I have sold all of my shares in Mayne Pharma (ASX:MYX), and despite the coincidental timing I swear it had nothing to do with Valeant. I would in general call this purchase a failure, although I was lucky to sell out without loss. Why sell? I recently had my Mayne Pharma thesis challenged, which was …

10Foot Capital declares morals ‘non-core’, diversifies into fraud manufacturing

reprinted with permission from financialnews.net.com.network.au.  Bringing you the hottest news in global finance FNNCNAU reporter Fiona Mastodon recently conducted a live interview with Yeti Bigfoot, founder of controversial activist investment fund 10Foot Capital. 10Foot Capital is in the midst of a major restructuring program as it attempts to rectify market-lagging performance. Here’s the interview transcript for …