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Javier Acción, EAF Profile picture
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Nov 9, 2019 • 19 tweets • 10 min read
¡¡ Nueva posición en la cartera de nuestro fondo #AccionGlobalFI !!

Consulta aquí el vídeo análisis de la compañía Align Technologies, productora del famoso Invisalign

Long $ALGN #Invisalign Short $SDC #SmileDirectClub

👇🏽👇🏽👇🏽👇🏽

accioneafi.com/web/align-tech…
Definition: When a management team does NOT know the word SHAME

Definición: Cuando un equipo gestor NO conoce la palabra VERGÜENZA

SHORT $SDC

investors.smiledirectclub.com/news-releases/… ImageImageImage
Qué podría salir mal?
-60% desde la OPV, hace 2 meses...y lo que le queda

What could go wrong?
-60% since IPO, 2 months ago...and what comes ahead

SHORT $SDC Image
Invisalign VS ClearCorrect (Straumann)

Long $ALGN #AccionGlobalFI Image
Finally... We're SHORT $SDC

#AccionGlobalFI
SmileDirectClub said it would also begin offering a "club edition" electric toothbrush and a subscription for replacement toothbrush heads exclusively on its website.

Subscription model for your teeth. Probably soon, SaaSmile or something. 😂
Short $SDC
nytimes.com/2020/01/21/tec…

$SDC #Short #SmileDirectClub #AccionGlobalFI
Bonita dentadura! 😉

$ALGN #Invisalign @billieeilish #GRAMMYs
@billieeilish HUGE

Exclusive: SmileDirectClub's top dentist risks losing license in California crackdown

graphics.reuters.com/USA-SMILE-DENT…

SHORT $SDC #AccionGlobalFI
The $ALGN disruptor: $SDC

investors.smiledirectclub.com/news-releases/…
Brutal adquisición de $ALGN: "El Photoshop de un laboratorio dental" "Software x excelencia": IP+Talento Ingenieros+Nuevas especialidades+Cerrar círculo. Asset light & gross mg accretive (no es fácil cuando vienes >70%)
#Exocad #AccionGlobalFI

globenewswire.com/news-release/2…
SHORT $SDC #AccionGlobalFI

$ALGN 336$
Máximos desde la gran caída de octubre 2018. #PatienceRewards
#AccionGlobalFI
ATH en agosto y septiembre. Unido a los comentarios de las últimas calls, creo que pronto empezaremos a ver reportings con growth YoY.
El mercado está reconociendo la realidad justo mientas sucede. Image
El típico beat de estimaciones de 40% en revenues y 300% en EPS 😂
Los analistas ganándose el sueldo! 🤦🏽‍♂️

$ALGN #AccionGlobalFI

globenewswire.com/news-release/2… ImageImage
Lo que sucede cuando en tu tesis original incluso con mucha competencia te sale una TIR fantástica, pero luego el moat es tan grande que no te hacen ni cosquillas. BRUTAL.

Long $ALGN #AccionGlobalFI Image
Bla-bla-bla...
Mr. Market no es tonto precisamente...
$SDC
SmileDirectClub Reports Second Quarter 2021 Financial Results finance.yahoo.com/news/smiledire… Image
Todo OK

$ALGN #AccionGlobalFI Image
Qué lástima que los shorts sean tan caros de mantener en el tiempo... $SDC Image

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More from @AccionEAFI

Javier Acción, EAF Profile picture
Mar 18, 2021
Now that Andrew Austin has made his 1st deal at #KISTOS, time to evaluate it. Seems that FinTwit doesn't consider it a bargain, and we don't have all the info yet, but indeed we can do some research

Brief: AA DID IT AGAIN

Time for a thread 🧵 #KIST $KIST.LN

((PART 1))

👇🏽👇🏽👇🏽
I've read different opinions so far, but it seems that the general opinion is that €220M+€163M earn outs, isn't too cheap for €31M EBITDA'20, or 5.5m boepd, 19mm boe 2P and 78mm boe 2C. Seen like this, it's fair. It doesn't seem very cheap.
Only positive view I've read about, is from @mgrahamwood saying "this looks to be one hell of a deal". I didn't know if it was only because he's an AA fan, but now having analyzed the asset, I think he's just right:

This is one HELL of a deal
Read 25 tweets
Javier Acción, EAF Profile picture
Mar 18, 2021
((PART 2))

#KIST $KIST.LN #KISTOS Thread 🧵

👇🏽👇🏽👇🏽
We begin to intuit that a huge deal like this (remember that the upfront+contingencies €220M+163M supposes x5 the #KIST mkt cap and almost x10 its net cash or NAV), even though there is some dilution, the leverage will be high, with its effect on our equity potential
And given the quality of the asset, it would be understandable to pay some premium for it.
But let's see what this asset can produce in 2021 and beyond. Because basically, the figures they are giving to us for 2019 and 2020 are TOTALLY MISLEADING.
Read 22 tweets
Javier Acción, EAF Profile picture
Sep 7, 2018
Alphabet está construyendo el futuro mediante atracción d los mejores talentos, inversión decidida e innovación constante. Recomiendo encarecidamente la lectura del transcript earnings call 1H2018.
#Alphabet $GOOG $GOOGL #GBIIAccionGlobalFI
👇🏽Aquí algunas de sus perlas 👇🏽
"Our video platform, Youtube, is growing tremendously"

"We are very excited about the big oportunities we're seeing in Google Cloud Next"
"We are continuing to see tremendous growth in Maps -with especially strong growth in countries like Indonesia, India and Nigeria, which are growing over 50% y-o-y"

"I have always seen Maps as a big asset for us. Now, we're taking different initiatives looking for monetize it"
Read 28 tweets

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