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French & Italian Companies


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Oui! Oui! There are some cheap French and Italian firms out there.  In the TV space there is M6 Metropole, Francais Television and Mediaset and in the radio space there is NRJ.  In Autos, there is Fiat, Renault and Peugeot.  In Telecom, there is Telecom Italia and France Telecom.  I took a look at Natuzzi (that owned about 10 years ago) and it appears a shadow of its former self at a $60 million market cap net cash.  Have folks given up on France and Italy???

 

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I owned one Italian firm that I later found out was a mob related firm.  I have an Italian co-worker and he tells me everything is mob related there, who knows.  I sold the stock and moved on, no sense in dealing with the mob..

 

I love the little French firms, lots of cheap stuff there right now, I currently hold four cheap French names in the portfolio, Nexeya, Gevelot, Installux and Precia Molen.

 

I've debated endlessly whether to buy the Credit Agricole regional banks, I think there was even a thread on the board over these things.

 

A few other names worth investigation, Poujoulat, Tonnellerie Frere Paris.

 

There are a few French investors on the board would could give better insight than I can.

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I owned one Italian firm that I later found out was a mob related firm.  I have an Italian co-worker and he tells me everything is mob related there, who knows.  I sold the stock and moved on, no sense in dealing with the mob..

 

I love the little French firms, lots of cheap stuff there right now, I currently hold four cheap French names in the portfolio, Nexeya, Gevelot, Installux and Precia Molen.

 

I've debated endlessly whether to buy the Credit Agricole regional banks, I think there was even a thread on the board over these things.

 

A few other names worth investigation, Poujoulat, Tonnellerie Frere Paris.

 

There are a few French investors on the board would could give better insight than I can.

 

  I am a bit reluctant to own Italian companies, too, not because of Mafia links but because backtesting indicates that mechanical investing does not seem to work too well there, a bit like in Japan.

 

About French companies, in the past I've owned Gevelot, which I see is dirt cheap right now, based on recent numbers, and Tonnellerie Frere Paris. One company I've bought recently is Constructions Industrielles de la Méditerranée Société Anonyme. I also have U10, Signaux Girod in my portfolio. Quite a few Belgian companies showing up too, Miko, Picanol, Jensen-Group.

 

 

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  I took a look at Natuzzi (that I owned about 10 years ago) and it appears a shadow of its former self at a $60 million market cap net cash. 

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Me too:)  That was a value trap if there ever was one.  At one time I had a large chunk of my measly net worth in it, thankfully I was able to blow up that idea.

 

In terms of French stocks, I currently have about 2% of the portfolio in Parrot (PARRO.PA).  I like Henri Seydoux's style and innovative touch.  Company seems cheap but they need to accelerate new products to replace their hands free bluetooth offerings.    I am betting they can and the collaborative endeavors with Phillipe Starck give me hope.  It is kind of like finding a French version of Apple on the cheap.

 

cheers

nwoodman

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Anyone like EXOR?

 

Hell yeah, my second largest position...behind FIAT

 

No were talking! What price did you get in i just bought 6 weeks ago but see much more upside. Care to share your thesis?

 

I got in at roughly €16.

 

http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/exo-mi-exor/

 

I got in in Dec at about 18.50. Second largest foreign position for me also behind LRE. Also have BDEV:XLON and BYMOF which is BMW Preferred. BYMOF & EXOR I got from Parames from Bestinver. Good writeup on the other thread. Thanks

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