In today’s briefing:
- Dabur India Ltd (DABUR IN) | Some Things Never Change
- A Substantial Trade Seems Lurking on Hyundai Mobis with Chung’s Possible Stake Purchase
- Argosy Investors Q1 2022 Letter
Dabur India Ltd (DABUR IN) | Some Things Never Change
- Dabur India Ltd (DABUR IN) is over-exposed to rural India where the recovery is uncertain and slow.
- Channel feedback with regards to relationships with distributors and the company’s strategic direction has been poor.
- A weak operating environment coupled with a weak on-ground execution suggests underperformance may continue.
A Substantial Trade Seems Lurking on Hyundai Mobis with Chung’s Possible Stake Purchase
- A trading dynamic that is drawing attention is the possibility of Chung Eui-sun’s purchase of a stake in Mobis, triggering to boost Mobis’ relative share price to Hyundai Motor.
- Chung may push ahead with the Glovis → Mobis swap using the substantially increased value of Glovis’ stake. Carlyle, who serves as Chung’s ally, may additionally park Chung’s Glovis stake
- Chung uses the proceeds to purchase a stake in Mobis. Unlike in 2020, likely, he will only purchase Mobis shares this time.
Argosy Investors Q1 2022 Letter
- Argosy Investors is a fee-only investment adviser seeking to earn above-average returns through a risk-conscious approach that allows us to maintain significant amounts of cash if the conditions warrant, and to deploy capital quickly and aggressively when opportunities are more plentiful.
- 2022 first quarter performance was -15.1% in select accounts.
- Analyzing many businesses can be challenging, and could require a greater degree of conservatism in assessing likely sales and/or margin potential.
Before it’s here, it’s on Smartkarma
