Author Topic: BOL.PA - Bollore  (Read 38626 times)

ebdem

  • Full Member
  • ***
  • Posts: 101
    • valueDACH Value Investing Community
Re: BOL.PA - Bollore
« Reply #20 on: May 21, 2016, 06:25:27 AM »
Yes. I am looking deeply at it. Looks very interesting atm. Based on relativly conservative assumptions I am seeing Bollore at a roundabout 20-35% discount to its fair value. If the thesis of MuddyWaters is right, we might also have discount of 40%-70%, which is really huge for a company like this in good shape.

There also seems to be a good chance to make money in the investment in Vivendi (which I am also researching at the moment).

I am having a deeper debate in a German forum - if you know German, i can drop the link.


Damerei

  • Newbie
  • *
  • Posts: 1
Re: BOL.PA - Bollore
« Reply #21 on: May 21, 2016, 11:44:34 PM »
Yes. I am looking deeply at it. Looks very interesting atm. Based on relativly conservative assumptions I am seeing Bollore at a roundabout 20-35% discount to its fair value. If the thesis of MuddyWaters is right, we might also have discount of 40%-70%, which is really huge for a company like this in good shape.

There also seems to be a good chance to make money in the investment in Vivendi (which I am also researching at the moment).

I am having a deeper debate in a German forum - if you know German, i can drop the link.

I have a smattering of German and my interest has been piqued by this company. I would appreciate the link.

wachtwoord

  • Hero Member
  • *****
  • Posts: 1268
Re: BOL.PA - Bollore
« Reply #22 on: May 22, 2016, 03:54:37 AM »
With the rise of correct auto-translation software you don't 'need' to speak the language any more to understand most of the content. I love following www.vardebyran.se (by a member here) for instance but don't speak a word of Swedish. Just use Google translate :)
« Last Edit: May 22, 2016, 03:56:11 AM by wachtwoord »
"Beware of he who would deny you access to information, for in his heart he dreams himself your master"

ebdem

  • Full Member
  • ***
  • Posts: 101
    • valueDACH Value Investing Community
Re: BOL.PA - Bollore
« Reply #23 on: May 22, 2016, 04:36:40 AM »
http://www.wertpapier-forum.de/topic/42436-bollore/page__st__40 Here`s the link -  btw: last time I used google translate it was a bit messy. But maybe the reason was i used it for a translating from Albanian or Greek to German ;).

wachtwoord

  • Hero Member
  • *****
  • Posts: 1268
Re: BOL.PA - Bollore
« Reply #24 on: May 22, 2016, 04:40:19 AM »
http://www.wertpapier-forum.de/topic/42436-bollore/page__st__40 Here`s the link -  btw: last time I used google translate it was a bit messy. But maybe the reason was i used it for a translating from Albanian or Greek to German ;).

Both the Slavic languages (never tried Albanian per se, but Serbian is very similar) and Greek to English works quite okay. I used this many times in the past to book hotels on the cheap (in the past also to communicate with the hotel over email).

Thanks for the link

"Beware of he who would deny you access to information, for in his heart he dreams himself your master"

Jurgis

  • Hero Member
  • *****
  • Posts: 4130
    • Porfolio
Re: BOL.PA - Bollore
« Reply #25 on: May 22, 2016, 02:23:43 PM »
Google translate is still pretty crappy:

https://translate.google.com/translate?sl=de&tl=en&js=y&prev=_t&hl=en&ie=UTF-8&u=http%3A%2F%2Fwww.wertpapier-forum.de%2Ftopic%2F42436-bollore%2Fpage__st__40&edit-text=&act=url

Some pieces are understandable, but some sentences make pretty much no sense.  :(
Considering this is one of the most researched, most data-collected and one of the easiest language pairs (English-German), the quality makes me rather sad. :(

Thanks for the link anyways.  8)
"Before you can be rich, you must be poor." - Nef Anyo
--------------------------------------------------------------------
"American History X", "Milk", "The Insider", "Dirty Money", "LBJ"

ebdem

  • Full Member
  • ***
  • Posts: 101
    • valueDACH Value Investing Community
Re: BOL.PA - Bollore
« Reply #26 on: May 22, 2016, 05:24:08 PM »
Oh.. Google translate is still crappy :D..  if i should translate some sentences or answer questions, just go for it..
This weekend I also tried to understand why Bolloré invested in Vivendi. In my eyes he bought the company with a slight discount to fair value and has opportunities to grow it or maybe also merge businesses with Havas, which he owns to 60%. Furthermore he has a lot of cash in hand, which can be used/can use for buybacks (he buys under 20 € or 18 € - after the dividends), dividends or acquisitions. The plan to make Vivendi to a sucessful counterpart to Google, Netflix and others (someone quoted him like that) sounds a bit mad, but maybe there also some chances. Bollore`s Vivendi also has a huge stake in Telecom Italia, which gives him huge influence. But I am not sure what strategy skslies behind this engagement.
Compared to his holding I think there is less discount in Vivendi than in Bollore. Both other somehow cyclical businesses with growth opportunities, but also risks. One of my newest concern is the risk of a downturn of shipping and freightrates - also affecting Africa. To put in an argument: China's hunger for ressources is slowing and this is making Africa's economy to a lame duck. This might also affect Bolloré port business, which is from my stance the most desirable part of his holding. Any opinions on that?

accutronman

  • Full Member
  • ***
  • Posts: 101
Re: BOL.PA - Bollore
« Reply #27 on: May 23, 2016, 08:20:04 AM »
Having bought and sold Bollore over the years, I prefer to hold it through ODET.PA

Jurgis

  • Hero Member
  • *****
  • Posts: 4130
    • Porfolio
Re: BOL.PA - Bollore
« Reply #28 on: May 23, 2016, 01:59:25 PM »
I guess my concern is similar to ebdem's in the German forum: Bollore's campaign and lawsuits against journalists portraying him negatively and suppression of journalists from Bollore-owned publications. Unwillingness to handle criticism in press may mean that he does not tolerate differing views overall and may lead to narrow views and mistakes in business. I think I'll skip.
"Before you can be rich, you must be poor." - Nef Anyo
--------------------------------------------------------------------
"American History X", "Milk", "The Insider", "Dirty Money", "LBJ"

no_free_lunch

  • Hero Member
  • *****
  • Posts: 1377
Re: BOL.PA - Bollore
« Reply #29 on: December 26, 2016, 09:25:50 AM »
No position in this one but could be worth a look.  Based on reading this thread it is basically faith based investing.  You do have the track record to go on but not sure what the stock is really worth.  If you trust the analyst referenced by barrons, at a current price of $3.30 there is about 50% upside.  You also have a historical price around $5 a couple years ago as a reference point.


Quote
Over the past two decades, French billionaire Vincent Bolloré has made a compounded 16.8% a year for investors through his investment vehicle, Bolloré SA (ticker: BOL.France) (BOIVF). That compares with 10.6% for Warren Buffett’s Berkshire Hathaway (BRK.A) (BRK.B).
..
Bosset estimates that the company’s assets are worth €5 a share. His €4.10 price target comes from discounting this figure for risk.
http://www.barrons.com/articles/follow-buffett-of-france-for-a-three-year-double-1482491739
« Last Edit: December 26, 2016, 09:28:11 AM by no_free_lunch »