Winland Holdings Corporation (WELX)

Formerly named Winland Electronics, Winland Holdings Corporation, is a small Minnesota based company that is OTC-traded under the ticker symbol WELX. The company sells sensors that monitor environmental conditions such as moisture, humidity and temperature. Over a period of time, the management team of Winland Electronics had provided unsatisfactory results as they invested heavily in … Continue reading Winland Holdings Corporation (WELX)

The Arion Bank IPO and what happens after?

On Thursday, 2 August, 2018, Arion Bank will release its financial results for the first six months of 2018. This will be the first release of financial statements since Arion Bank completed the IPO of approximately 30% of it's common shares in a secondary offering. Background to the IPO The Arion Bank IPO is interesting … Continue reading The Arion Bank IPO and what happens after?

The Most Profitable Industry Ever?

Allan MacDonald, Senior Vice President and Portfolio Manager at Burgundy Asset Management Ltd presented at the Ben Graham Centre's 2018 Value Investing Conference. The topic of his talk was: Finding Great Investment Opportunities in New Business Models. Companies owned by their own customers One of the opportunists that Allan covers he refers to as Demutualization. The term … Continue reading The Most Profitable Industry Ever?

Origo and the value of Tempo Software

Origo is an Icelandic IT company listed on the Nasdaq OMX Iceland stock exchange. The company employs over 500 people, offering IT solutions ranging from hardware, software, consultancy and technical services. In addition to its Icelandic operations, Sweedish-based Applicon and Tempo Solutions operate as fully owned subsidiaries. Origo 2017 Financials In 2017, the company generated … Continue reading Origo and the value of Tempo Software

Oaktree Capital: Thoughts on Valuation

Oaktree is an asset management company that specializes in the high-yield bond market and distressed debt.  Oaktree is lead by Howard Marks, who is famous for the Memos he publishes periodically. Oaktree Presentation from the Bernstein Conference At the end of last May, Jay Wintrob, CEO of Oaktree Capital presented at the Bernstein Strategic Decisions … Continue reading Oaktree Capital: Thoughts on Valuation

Nugget: PPR changes name to Keurig and starts Puma restructuring

From a Reuters article on June 18, 2013: But beyond the name change and new logo featuring an owl, Pinault gave few answers to shareholders about the future of Puma or Fnac, the group's CD and book business, which will list on the stock market on Thursday. Pinault called on shareholders to hold on to Fnac … Continue reading Nugget: PPR changes name to Keurig and starts Puma restructuring

The Pele Pact and its Dramatic Ending

The origin of the Puma brand goes back to 1948. Rudolph Dassler, the company's founder, had split from a business partnership with his elder brother, Adi Dassler. The name of the business partnership? You guessed it, Adidas. Battle of the Boots The two brothers fought a ruthless war for market share in the global sportswear … Continue reading The Pele Pact and its Dramatic Ending