In today’s briefing:
- Last Week in Event SPACE: Chugoku Bank, Link Admin, Rakuten, Tassal, Pipedo
- LRT Capital Management June 2022 Investor Update
- LRT Capital Management June 2022 Investor Update
Last Week in Event SPACE: Chugoku Bank, Link Admin, Rakuten, Tassal, Pipedo
- Silchester’s effort to raise awareness in Chugoku Bank (8382 JP) failed. Still, if you had a basket of regional bank longs and shorts, Chugoku would be in the short basket.
- Dye & Durham reloads a higher Offer after Link Administration (LNK AU)‘s rejection. This probably still needs a (small) bump in terms to get up.
- Rakuten Inc (4755 JP)is trading at a significant discount to its SOTP. A part of its Fintech segment (Rakuten Bank) could be worth ~50% of total market cap.
LRT Capital Management June 2022 Investor Update
- LRT Capital is a fundamental investment hedge fund. We invest only in companies with durable competitive advantages, i.e. “moats.”.
- June’s strong results were driven primarily by our hedges, with our portfolio companies declining much less than the market as a whole.
- What is likely to determine the directions of stocks over the short-term (the next 6 months), is the outlook for inflation and interest rates over the coming year.
- We will happily own many technology companies if their valuations become more attractive.
LRT Capital Management June 2022 Investor Update
- LRT Capital is a fundamental investment hedge fund. We invest only in companies with durable competitive advantages, i.e. “moats.”.
- June’s strong results were driven primarily by our hedges, with our portfolio companies declining much less than the market as a whole.
- What is likely to determine the directions of stocks over the short-term (the next 6 months), is the outlook for inflation and interest rates over the coming year.
- We will happily own many technology companies if their valuations become more attractive.
Before it’s here, it’s on Smartkarma
