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Investment Ideas / Re: KCLI - Kansas City Life Insurance Co
« Last post by Spekulatius on Today at 10:28:45 AM »
I compare KCLI with NWLI and ELF.TO.
KCLI was trading more like 50% of TBV while those other 2 trade closer to 70% of TBV so I have been picking away at KCLI this year after selling NWLI last year. Still slightly below water at $42 though. Should have kept NWLI. C'est la vie.

Big losses in their securities portfolio though. Don't know why it popped up about 10% recently. A 2Q that wasn't as bad as 1Q maybe?

Maybe one day family takes it completely private. They did pay $52.50 not too long ago so someone thought that was a fair price.

I think NWLI is a better company than KCLI and it deserves a higher  multiple. I owned NWLI st around 35% of book and sold for a little more than 50% book - too early obviously.
Investment Ideas / Re: GCM.TO - Gran Colombia Gold Corp
« Last post by SafetyinNumbers on Today at 10:26:38 AM »
I wish they could pick up some analyst coverage.

They spent almost $5m in fees issuing the new notes, you would think that would buy research for at least 5 years.

Research would allow institutional investors to fast track their own work and give them someone to blame if something goes wrong. It would also populate earnings estimates at quant funds that use those sorts of things which might bring in some new investors.

At the AGM, they discussed some analyst trip potential in August and September but not sure if those are still on the books.
Investment Ideas / Re: GCM.TO - Gran Colombia Gold Corp
« Last post by tombgrt on Today at 10:13:22 AM »
I bought even more today. Market has a net short position in gold currently. Last time this happened was April 2001. You can look for yourself where gold was trading at that point in time.

People are correct that gold has little fundamental value and over time it might even be threatened by other and new stores of value. It is also kinda useless as a hedge against (geopolitical) uncertainty and shit hitting the fan, as we have learned in the last few years.

The beauty of those characteristics is that it is very susceptible to pure sentiment. People will push it around to wherever their sentiment allows them to push it. Few limits imposed by rationality, as if investors have much of that trait anyway... Maybe rising rates are making gold less attractive to hold, but I don't see it as the price determinant. The stronger dollar has certainly helped but I'm betting sentiment is still the main cause of the lower price.

We don't need a higher gold price for GCM to work out with costs so low and valuation so cheap. But if sentiment is any indicator, this could be one of the best contrarian bets over the next few years.
Hi guys,

I'm helping a fellow friend to grow their small business. They are currently mainly in peanut butter production. They are working directly with farmers, they want to preserve sustainable growth and benefit both the farmers and the consumers with all natural and organic peanut products.

They are looking for investors to grow their business, and I'm looking for your perspective as an investor.

What kind of information will be interesting for you to make a decision to invest?
Can you please share some great investor presentations that really focus on an important things and make it also simple to understand?
Which consumer brand companies will you recommend to follow, that in your eyes doing a good job and worth looking at and study their business?

Any other tips will be very welcome.

There are a number of sites that have compiled various startup pitch decks that you can look through. Some things to think about, the content and depth of the deck is dependent on what you're looking to raise and the stage the business is at. A later series raise is going to have a much more in depth deck than a seed funding round for instance.

Here's one link with a few to look through, AirBnB's deck is usually referred to as one of the best for early round funding but there's no reason you can't pick and choose aspects of several and incorporate them into the deck your friend is creating. Realize that many investors you'll likely pitch to see dozens if not hundreds of these decks a year so keeping it concise is key and if it piques their interest then you can send them more. A one page executive summary of the business might also be useful.

Investment Ideas / Re: ALS.TO - Altius Minerals
« Last post by linealdin on Today at 10:03:07 AM »

BHP confirms that Samarco iron ore mine is unlikely to restart in 2019. A deal to build a new tailings dam system has to be reached with Brazilian prosecutors first. No timeline offered for that.

Samarco had 30.5 million tonnes of direct reduction pellet capacity before the environmentsl disaster. They were IOCís main competitor in the DR pellet market.

Now IOC has a clear runway to enjoy years of record-breaking pellet premiums.
General Discussion / Re: New Yorker article on Paul Singer -Elliott
« Last post by ajc on Today at 09:49:29 AM »

Interesting read.

Yeah, as an investor I guess I'm pretty biased towards the folks who focus on shareholder value.
I mean, if you want to run a private company your way that's fine.
On the other hand, if you're publicly owned you probably gotta remember who your real bosses are.
Clearly, Singer takes this to extremes and it's reasonable to argue in the Congo and door-knocking cases they went overboard.

All that said, I'd say Singer does more good than harm to markets. I think we're not yet at a stage where you have the greenmail-type stuff of the 80s making a comeback. For the most part, I'd say it's good the average Fortune 500 CEO has a little fear of this in their minds.
I think the idea every CEO in America is a potential Bezos if only they'd be cut some slack is kind of amusing.

Anyway, I'm biased. New Yorker long pieces are often great though. Stylistically almost always. Their recent one on was also a good read.

General Discussion / Re: Esports
« Last post by Pelagic on Today at 09:47:45 AM »

I do wonder how big Twitch can get and how many people are interested in watching a person play the same games every day. I don't see much viewer growth from the big streamers in the last six months. The hype from a game like Fortnite dies down over time and the viewers and subscribers leave as well. The streamer Ninja on Twitch dropped from 200k+ subs a couple of months ago to less than 100k today.

I think this also has to do with people discovering smaller streamers as a game grows. A person just getting into a new game may subscribe first to a big name streamer like Ninja but then decide to sub to a different streamer after a month or two. I'd be curious to see the figures for total streamers/viewers for a game like Fortnite as I think that has likely grown significantly while individual streamers who had a large following are losing some of those to other up and coming streamers.

Investment Ideas / Re: CHTR - Charter Communications
« Last post by chrispy on Today at 09:28:00 AM »
5G is my biggest concern as well but it may very well end up making the cable companies even more of a necessity.

All of these press releases from Verizon are starting to sound like hype and over compensating... The ZDNet article states how impressive things are "By taking these tests out of the lab and into the field" despite that the test was done at "Nokia's Murray Hill, New Jersey, campus", aka a lab
Investment Ideas / Re: AIM.TO - Aimia
« Last post by Homestead31 on Today at 09:21:50 AM »
and Hanif Mamdani should be embarrassed by his complete inability to think strategically and remain calm under pressure.
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