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kab60

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  1. Greenwood if IIRC, smelled like capitulation to me... Lots of 'value' guys seemed to look for 'excuses' to get on the momo train after underperforming for long... At what seems llke the worst time
  2. Q1 results out, looking good. 1/3 of new automotive orders is EV/BEV. Earnings more than doubled. Market share gains in AG and Industrials and continued growth in content per vehicle in auto. Thought they'd consume cash, but they're still gushing it out.HODL During the firstquarter of 2021(“Q12021”), the Company experienced strong sales growth, up15% vs Q1 2020, and outstandingnormalized net earnings growth, up 2.3 timesin comparison tolast year;•Strong normalized operating earnings growth in both segments;•Mobility segment normalized operating earnings up nearly 2.5timesfor Q1 2021 and I
  3. Monster Q1, seems like I sold too early. Revenue up 35 pct. Looks like even better value, but I am already more than fully invested.
  4. I think you wanna check this guy out: https://twitter.com/Haydaracunn - seems like he's crushing it.
  5. Results out, looking good. Market has obviously come around to the story (and the sector) since the write-up so it's less of an obvious bargain atm. ASBURY AUTOMOTIVE GROUP ANNOUNCES RECORD FIRST QUARTER 2021 FINANCIAL RESULTS First quarter EPS of $4.78 per diluted share, up 373% over prior year EPS First quarter adjusted EPS of $4.68 per diluted share (a non-GAAP measure), up 160% over prior year adjusted EPS First quarter revenue increased 36% and gross profit increased 40% over prior year quarter DULUTH, GA,
  6. From Twitter: Chinese dairy companies stage a strong rally, after the PBOC said in a paper released Wed that China should remove all birth control and encourage people to have more children. https://t.co/vVS0O9qEIi https://t.co/iCoAvupVkV Wouldn't hold by breath, but a Chinese baby boom would be good for business I'm sure ^^ Up more than 50 pct in a month or so, funny how quickly sentiment change in these smallcaps
  7. I wonder (but am too lazy) to calculate what the returns would be since Q1 2020. But I'm reminded of the unfortunate timing whenever I see names like Auto Nation just thundering updwards. A lot of his holdings have done really well. Auto Nation, Wayfair - even Berkshire, Jefferies and Spectrum Brands have been working, while Alliance Data Systems and Cimpress aren't doing too bad either. Hopefully his LP's sticked around for some time.
  8. Appreciate the thoughts, @Anglozurich. I think Ocado is a very different case and don't think the models really compare, but I don't have anything meaningful to add there. Logistics, fulfillment and distribution is tough work and hardly how a lot of Clippers' customers differentiate themselves, so it makes sense to outsource to focused providers like Clipper. They have the people, processes and systems to ensure a smooth proces, and their margin is pretty low, so it can be a win-win which is part of the reason why 3PL is expected to grow at a CAGR of some 7 pct. for years to come. Cl
  9. There's no secret sauce. It's about people, processes and systems. Some might call it culture. Some might have better WMS solutions than others, but really I think it comes down to people. So in that regards it's pretty simple but it's definately not easy. Look at UK comps like Eddie Stobart (dead), Wincanton (showing a small sign of life recently) or ID Logistics in France. I think it's a bit like freight forwarding. That's basically IT and people as well. Companies like DSV and Expeditors have created tremendous amounts of value for their owners (DSV is like plus 20 pct. CAGR since ince
  10. I think you raise some very good points. I really won't put anything resembling high odds on their international expansion being a huge succes, but they're starting from a very small base. I'm a bit lazy in that I consider it somewhat of a free option and basically trust management wouldn't expand capacity 3-4x if they didn't expect that demand would be there - either internationally or in HK. I really didn't think through to much about the difference between escalators and elevators and their profitability profile or mix between projects and maintenance, but that's probably a very valid point
  11. Aaaaand another e-commerce deal, this time with JD Sports to supplement their existing ops (perhaps an opportunity to increase the scope down the line). 400.000 square feet of warehouse reserved for JD Sports initially. This compares with a total of around 10 mio. square feet of warehousing today, so that's another very significant addition. Very impressed with their execution and ability to land new clients. I think it speaks to the service and value that they offer. https://otp.tools.investis.com/clients/uk/clipper/rns/regulatory-story.aspx?cid=834&newsid=1468568
  12. Another note regarding 2021 and 2022. According to management, efficiancy was low in 2020 due to covid. They should be able to increase efficiancy this year and thus increase revenue without needing to hire a lot of new folks (margin expansion). It's unclear to me if that completely negates the benefits they might have had from covid relief packages, but it seems like it. They also said their record high order book is at normal margin levels, so I'd expect better profitability going forward - on a larger revenue base. Also, they had some provisions and impairments in 2020 (overdue credit among
  13. They've got their money on the line, so incentives should be right re value creation. But I also like what they do and say. If you're interested you should listen/see some of their webcasts - there's a recent one from the annual results, where David Webb challenges them a bit. I took some quick and dirty notes, so I'll just reply as I recall, since this is more about approx right. A couple of hard points regarding value creation would be that they're committed to paying out up to 50 pct. of net income in dividends, and their moves definately doesn't suggest empire building unlike a lot of HK f
  14. I've been pondering since the results were published and decided to sell my position and deploy it all in Analogue Holdings instead, another HK Company, which also recently published results. Really appreciate the feedback, RVP. Both Lion Rock and Analogue trade around or below NCAV, but Analogue just seems to have the wind at its back whereas Lion Rock is fighting to keep status quo. I'd never hold cash when I could park it in one of these two and clip more than 10 pct. in dividends a year, but Analogue just seems like an easier bet to make. With Lion Rock it's pretty obvious that i
  15. They released their annual results. They were profitable for the first time in years, SAAS revenue grew nicely and should be on its way towards 10m in 2021 or another year of some 60-80 pct. growth. Marketcap around 78m now, 16m in cash (but there should be some debt as well). Trades at less than 1,5 EV/sales, guiding towards 10 pct. profitable growth this year. Stock popped on the results and I took my winnings. When I invested, I thought I had a free shot on goal towards 20 pct. revenue growth due to a very low valuation and what looked like shareholder fatigue. Growth has been lower th
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