Author Topic: SSNLF - Samsung Electronics  (Read 25964 times)

fareastwarriors

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Re: SSNLF - Samsung Electronics
« Reply #50 on: August 25, 2017, 09:09:17 AM »


Jurgis

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Re: SSNLF - Samsung Electronics
« Reply #51 on: August 25, 2017, 09:12:22 AM »
Heir today, gone slam tomorrow...  ;D
« Last Edit: August 25, 2017, 09:14:55 AM by Jurgis »
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alwaysinvert

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Re: SSNLF - Samsung Electronics
« Reply #52 on: May 16, 2018, 08:45:19 AM »
I've owned this (the preferred GDR) for a couple of years and to my mind it is still an incredibly cheap stock. They earned 42 trillion Won last year and that will likely rise to about 50 this year. The EV calculated on the preferred is just north of 200.

Even if the chip boom peters out the stock is far from expensive. The capital allocation has improved and 50% of FCF will go towards dividends and buybacks in the coming three years. The combined buyback/dividend yield will approach 10%.

You can look at it this way: their shareholder returns are a couple of years behind Apple in their development. You can get this with healthy growth and at a 20% discount to the common stock if you buy the GDR. The moves towards better corporate governance and more optimized capital allocation are not fast but they are still undeniable at this point.

I'd love to hear an alternative perspective. 
« Last Edit: May 16, 2018, 08:52:05 AM by alwaysinvert »

ebdem

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Re: SSNLF - Samsung Electronics
« Reply #53 on: November 19, 2018, 02:57:38 AM »
Hey guys,
At IVIC18, we had to presenters mentioning Samsung as a long. You might enjoy the presentations: Andrés Allende of cobas https://youtu.be/jfxaOxexTwM and Kurt Kara of Maj Invest: https://youtu.be/DawykLU_Ytc.
It really looks cheap at the moment. I hope some of the catalysts will be realized, as I am also invested.

ebdem

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Re: SSNLF - Samsung Electronics
« Reply #54 on: February 08, 2019, 11:29:37 AM »
Hey there,
this might be also interesting for you - a case on SK Hynix, another semiconductor manifacturer from South Korea: https://youtu.be/1zJU21Ye7lY
Enjoy!

alwaysinvert

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Re: SSNLF - Samsung Electronics
« Reply #55 on: February 10, 2020, 03:14:38 AM »
South Korea has put a 30% cap on the weight of any individual company on the KRX index, which Samsung borders on running afoul of.

https://pulsenews.co.kr/view.php?year=2020&no=73542

Possible that this is weighing down on the company's valuation.

Murmurs about Samsung Electronics splitting in a chip and handset business, which would be logical and make peer valuation much more straighforward. I have also seen claims that this would make inheritance tax planning more easy, although I don't know exactly how that would work. But who knows - nobody even knows if Lee Kun-hee has been alive since 2014. Which I have to grant them is a very creative tax avoidance scheme.

Foreign Tuffett

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Re: SSNLF - Samsung Electronics
« Reply #56 on: February 11, 2020, 08:21:08 AM »
South Korea has put a 30% cap on the weight of any individual company on the KRX index, which Samsung borders on running afoul of.

https://pulsenews.co.kr/view.php?year=2020&no=73542

Possible that this is weighing down on the company's valuation.

Murmurs about Samsung Electronics splitting in a chip and handset business, which would be logical and make peer valuation much more straighforward. I have also seen claims that this would make inheritance tax planning more easy, although I don't know exactly how that would work. But who knows - nobody even knows if Lee Kun-hee has been alive since 2014. Which I have to grant them is a very creative tax avoidance scheme.

I was unfamiliar with the Lee Kun-hee situation. So the Chairman of the Samsung has, in all likelihood, been in a vegetative state (or even dead) since May of 2014? And his family has every incentive to keep him "alive" to avoid an absolutely massive inheritance tax? Completely bonkers.

alwaysinvert

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Re: SSNLF - Samsung Electronics
« Reply #57 on: February 11, 2020, 09:16:27 AM »
South Korea has put a 30% cap on the weight of any individual company on the KRX index, which Samsung borders on running afoul of.

https://pulsenews.co.kr/view.php?year=2020&no=73542

Possible that this is weighing down on the company's valuation.

Murmurs about Samsung Electronics splitting in a chip and handset business, which would be logical and make peer valuation much more straighforward. I have also seen claims that this would make inheritance tax planning more easy, although I don't know exactly how that would work. But who knows - nobody even knows if Lee Kun-hee has been alive since 2014. Which I have to grant them is a very creative tax avoidance scheme.

I was unfamiliar with the Lee Kun-hee situation. So the Chairman of the Samsung has, in all likelihood, been in a vegetative state (or even dead) since May of 2014? And his family has every incentive to keep him "alive" to avoid an absolutely massive inheritance tax? Completely bonkers.

Right, and his son went to jail for buying a horse to the daughter of the adviser to the former president so that the government would support a merger in order to strengthen family control and make succession easier. The president was later ousted and shown to have been in the grips of a shamanistic cult headed by said advisor. Luckily, the son got early release just in time for the Olympics, so it's all cool.