Independent Research, Turtles all the way down

Turtles all the way down

Independent Research

Writing short articles about mis-priced boring stocks around the world.

Equity Bottom-Up

<ul><li>Lot’s of confusion for me around <strong>Lufax (LU)</strong>.</li><li>I took my dividend in shares being under the impression the scrip price was $2.15 (1 ADR is 2 shares):“Option 2: Elect Stock - You may elect to receive the dividend paid in new ADRs of LUFAX HLDG LTD at rate USD 1.073647 per share held on record date.”</li><li>But apparently it is actually $2.25? Did IBKR make a mistake, will I get my shares at $2.15 or did I misread the above? </li></ul>

Lot’s of confusion for me around Lufax (LU).I took my dividend in shares being under the impression the scrip price was $2.15 (1 ADR is 2 shares):“Option 2: Elect Stock - You may elect to receive the dividend paid in new ADRs of LUFAX HLDG LTD at rate USD 1.073647 per share held on record date.”But apparently it is actually $2.25? Did IBKR make a mistake, will I get my shares at $2.15 or did I misread the above? 

<ul><li>Another quick trade idea. A continuation of the China theme (see my last post for more info).  Lufax holdings (LU). Again courtesy of JohnTill on Stocktwits.</li><li>A Chinese lending company, lending out directly and providing a peer to peer lending platform for the Chinese market.</li><li>With Ping An being a ~41% shareholder.</li></ul>

Another quick trade idea. A continuation of the China theme (see my last post for more info).  Lufax holdings (LU). Again courtesy of JohnTill on Stocktwits.A Chinese lending company, lending out directly and providing a peer to peer lending platform for the Chinese market.With Ping An being a ~41% shareholder.

<ul><li>I mentioned Noah holdings as a trade to buy before earnings since I anticipated an announcement of significant capital returns.</li><li>This has worked out well with over $2 in dividends announced. Half of that dividend will be recurring.</li><li>So I sold out all of my shares at just under $12. This was never a high conviction investment, but merely a trade. Marking it as a 18% return.</li></ul>

I mentioned Noah holdings as a trade to buy before earnings since I anticipated an announcement of significant capital returns.This has worked out well with over $2 in dividends announced. Half of that dividend will be recurring.So I sold out all of my shares at just under $12. This was never a high conviction investment, but merely a trade. Marking it as a 18% return.

China

Lufax Holding Ltd operates technology-empowered personal financial services platform. The Company connects financial institutions to facilitate lending and wealth management products tailored to individual customer's needs and risk appetites.

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Lufax Holding (LU US)

Trying to Make Sense of Lufax

Analyst estimates are likely too conservative, and earnings might get close to $700-800m already in 2025 or $.8-9/share, which would make LU still...

Turtles all the way down

Quick Ideas #9

A Chinese lending company, lending out directly and providing a peer to peer lending platform for the Chinese market. With Ping An being a ~41%...

Turtles all the way down

Update on active Ideas

I mentioned Noah holdings as a trade to buy before earnings since I anticipated an announcement of significant capital returns.

Turtles all the way down

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