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A schmuck trying to get better.
patrickjl Profile picture 1 added to My Authors
12 Oct
Panda Value is long $TTWO.

With it I meet my yearly goal of investing in a high-quality undervalued compounder
Needless to say, $TTWO has fantastic IP led by Grand Theft Auto & NBA 2k. It is led by a wonderful capital allocator in Strauss Zelnick.
Earnings are materially understated, making the stock look optically expensive. Let's peel back this onion.

First, $TTWO has been delaying new game launches so that the new gen of consoles gain critical mass.
Read 21 tweets
20 Jan
Often my best ideas are holding companies run by A+ management teams. $BRK, $IAC, $CNNE, Liberty qualify. With these I can sit back and let these guys compound my capital for decades. I’d like to talk about another such company that I think meets that criteria: $PROSY.
I believe that $PROSY is undervalued and overlooked here in the US. I currently have a 5.9% position and it is currently one of the most attractively priced securities in my portfolio. I see it as a rare, undervalued compounder.
Tencent accounts for ~85% of my NAV. $PROSY owns 31% of Tencent, which is one of the most exciting companies in the world. WeChat is the door to China and gives them an incredible competitive advantage when it comes to investing in businesses. This is their flywheel.
Read 15 tweets