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#serialacquirer Big Picture 🌌
Sorry guys, I'm a little late this time đź«Ł
Q1 was a bloodbath for serial acquirers, the Q2 does not look much better. #DPLM and $ADDT have slipped back into the green zone. Our great swedish serial acquirers got it worst on a YTD basis. (1/4)
Sorry guys, I'm a little late this time đź«Ł
Q1 was a bloodbath for serial acquirers, the Q2 does not look much better. #DPLM and $ADDT have slipped back into the green zone. Our great swedish serial acquirers got it worst on a YTD basis. (1/4)
On April 2, I wrote to Q1: "Is now the time to buy the dip, I'm not sure about that " - I am still not sure. However, good serial acquirers have the chance to buy interesting companies cheaply during the crisis. This market will separate the wheat from the chaff. (2/4)
Change 2021 Q4 ▶️ 2022 Q2 (at the end of each)
by market cap as of July 1st, 2022
Source: @theTIKR (3/4)
by market cap as of July 1st, 2022
Source: @theTIKR (3/4)
THREAD: Long Judges Scientific #JDG and SDI #SDI
Charlie Munger once famously observed that you need to buy a company with a high ROCE to ensure good share price performance.
Judges Scientific and SDI group both have high ROCE’s (of c 20%+).
What Munger didn’t spell out,..
Charlie Munger once famously observed that you need to buy a company with a high ROCE to ensure good share price performance.
Judges Scientific and SDI group both have high ROCE’s (of c 20%+).
What Munger didn’t spell out,..
..is that it’s even better if a company with a high ROCE has a long reinvestment runway. After all, if you have a high Return on Equity, but no place to invest that Equity into, you won’t get far.
Judges Scientific and SDI do both have long reinvestment runways.
So, what do...
Judges Scientific and SDI do both have long reinvestment runways.
So, what do...
...they do?
They both buy up small private UK companies in the field of science instruments. For example, a recent acquisition by Judges was of the leading tester of lithium batteries worldwide. (After lithium batteries in Teslas blew up, and after mobile phones batteries did
They both buy up small private UK companies in the field of science instruments. For example, a recent acquisition by Judges was of the leading tester of lithium batteries worldwide. (After lithium batteries in Teslas blew up, and after mobile phones batteries did
