formthirteen

PGR

CPRT, BOL.PA

Thank you for reminding me to ask my junior research assistant (ChatGPT) to send a monthly email report on the most hated countries and sectors. It gave me a report with a link to this Gloomberg article: China Road Trip Exposes List of Uninvestable Assets in the West https://archive.is/mXebA I wonder if it works both ways?

https://www.valueinvestorsclub.com/idea/AON_PLC/6005081379

Shoei was featured on VIC. Looks cheap: https://quickfs.net/company/SHOFF:US

Switching HIFS to JKHY. FDS.

BTI, fully out now. Thank you for the dividend and returns.

ENX.PA. Keeping 1 share as a reminder.

Thanks @John Hjorth

More LSEG. Bad management can't kill this company.

No idea. You might get lucky. I wouldn't be surprised if it traded at 300 USD. I might pick up some in front of the steam roller too.

200 and 150 USD Jan 27, 2027. I'm expecting lot's of volatility. Waiting a couple of days, weeks, might be a better option, IDK. The issues will probably take more than a couple of months to fix.

Switching LULU to LULU LEAPs. Haha. I'm expecting a "I love great legs" marketing campaign.

Tracker in IT. AI is not disrupting IT, IMO.

Let me know if you find some cheap LEAPS. I was too lazy to do the work, but asked Claude for "his" opinion. I would need to double-check and triple-check his work before I buy/sell.

Yes, there is always a deeper story behind a chart and you’re right about why the Nasdaq today isn’t like it was in 2000. Hormel Foods (P/E ~18) vs Nasdaq (P/E ~35). HRL has not seen any real revenue and EPS growth over the past 10 years. You could argue HRL is overvalued, but maybe not on a value investing forum.

I haven’t seen the disruption others are talking about in Adobe’s numbers. For now, I’m betting AI will boost their revenue by democratizing photo editing. One bad quarter and I’m out (10% stop-loss), since a single miss could be enough for Mr. Market to dump the stock. As it is now I would be happy to put 5-10% into the stock with a stop-loss. I think AI models will become a commodity, but the platforms around them (ChatGPT, Photoshop, etc) will not. AI will allow Adobe to automate a lot of workflows, i.e., charge more from their users and also attract more users. AI will continue to make logical mistakes. Editing in Photoshop is needed for professional work. Professionals are unlikely to cancel their Photoshop license. This example that I generated using the latest Google update (Nano Banana) would need Photoshopping: Mr. Market could still push Adobe down to P/E 10-15 as happened with Microsoft, and others. Google updated their Gemini model a few days ago: In other words, with the stop-loss I'm happy holding ADBE as it's better than cash to me personally.

ADBE

More BRO and FDS

One third of BTI.

Back in LULU and NVO with half a position.

I was going to buy Gartner last week but didn't because I forgot to. I had to check my portfolio to make sure I didn't. Genius. Looking at FDS now with pretty similar conviction.

Yes. That's why I still don't own more than one share. I've been looking closer into it recently. Microsoft went sideways for years which is why I sold it at 25 USD about 20 years ago. ADBE and TEAM are also interesting. As growth slows operating margins will probably increase and SBC decrease.

I've owned 1 share for a couple of years. Steadily improving margins but the market doesn't care.