valueventures

I've been buying too recently. Bargain hiding in plain sight

NNI

Interesting. I've been following the memory shortage. What gives you confidence it is structural rather than cyclical, and why did you choose MU over other names?

Without reading through 20+ pages on this thread, curious if many of you have material AI exposure throughout your portfolio. I continue to be astonished by the returns these AI stocks are putting up and am kicking myself for underestimating the impact. I realize this is a value investing board rather than a growth investing board. I'm not planning to chase growth or go FOMO, but am thinking about some broader re-positioning (I own a fair amount of big tech and am growing increasingly concerned about the increasing capex and potentially lower future resulting ROICs).

Curious if there are specific AI names that you view as decent value. I still think SNDK and MU trade at reasonable valuations since their returns have been driven by operating growth rather than multiple expansion, but understand this is a function of perceived cyclicality. I think NVDA is fairly reasonable too (mid-20s forward P/E multiple), as their investor base has started chasing more of the related "picks-and-shovels" plays.

TCNNF at open

I'm long NNI and FFH (much larger position in FFH). How do you compare the relative attractiveness of each over the next 5-10 years? Thank you!

Added a little bit to Midnight Sun Mining. On the mining side, very bullish on this one and Mako Mining

Do you have a favorite among your gold miners? Of this group, I have exposure to MKO.

Bought more MAKOF

Some more MAKOF

Curious if you have a view on Propel as well? @ICUMD I see a lot of investors on Twitter own both. Thanks!

I'm not sure if this is the right place to post this, but I came across it on X and thought it was interesting for anyone looking for an off-the-beaten-path idea with FFH validation:

Bought a little more Topicus

More Fairfax

Nice portfolio! I own MKO. Curious what your view / thesis is on FOM and AEM.

GFR.TO

Thanks! Not really any specific reason for not owning APO. I read some fund letters a while back that were invested in KKR, and also bought it since I knew it would likely be added to the S&P 500 soon (which turned out to be correct). APO is still on my watchlist, but I've found other ideas that I've liked more.

Great portfolio - I overlap on Fairfax, Strathcona, KKR, and Mako Mining. One holding that stuck out to me was Firan Technology, as I recently came across a good thread on it on X (despite seeing very little discussion on CoBF). Curious how you're thinking about this one in terms of time horizon, risk/reward, target return, etc. Thanks! https://x.com/KairosPraxis/status/2001349601866190875

Also curious why so many are bullish on MELI given a) there's just 2 pages of discussion on the MELI thread so far, b) this is a value investing forum, and MELI seems to be more of a growth play, and c) MELI had a respectable year, up ~13% (unlike CSU, which I can understand why people think is due for a strong bounceback). I've always wanted to start a position, and valuation has been my hurdle. Thanks!

I have a small position in MAKOF. Curious how well you think they're hedged against falling gold prices? Thanks!

What's your view on $PINS? I've continued to hear over multiple years (back when I held a position) that the product-based nature of the site would lend itself well to advertising revenue. Has that started to play out?

What is your approximate weighting to FFH today? Thanks!

Starter in Topicus