chenisheng

I bought at around $50 and sold at $65 because at the time I was like I don’t want commodities in the portfolio, sigh

6566.T. Waste Management in Tokyo. 6.76 ev/ebit at 1250 yen per share. Activist investor sold their shares to a domestic waste management rollup at 1900 yen per share. Something I have trouble gauging, landfills aren’t the main final disposal in Japan, it is burning the trash. Tokyo government owns the landfills and trash burning 2201.T Morinaga, known for hi-chews candy. Cheap for a candy company and also glp-1 risk probably won’t impact Japan as much. Hi-chew is well-received overseas

@Saluki congrats Saluki you'll do great!

What do you think about true luxury companies? Their margins probably will increase as their prices can be maintained/increased. Their marketing expenses, etc. can be lowered by generative AI

Merry Christmas everyone!

5% for me, but wish I went 10% when the CEO confirmed backwards compatibility

Happy Thanksgiving everyone very thankful for this community

@EBITDAg thank you

Additional question on ROIC, I read Mauboussin's paper on intangibles recently. What's everyone's thoughts on capitalizing intangibles like R&D, etc. to adjust NOPAT and Invested Capital for ROIC? I like the idea of it, but I think it's extremely hard breaking those numbers out. Mauboussin provided a general adjustment: - Capitalizing all of the R&D expense: 6 year amortization - Capitalizing 30% of Non-R&D SG&A Expense: 2 year amortization

Merry Christmas, thankful for this community!