Bruker $BRKR Q1 release: s22.q4cdn.com/617463959/fi... FY EPS guidance lowered a bit, mainly caused by tariff impacts.

Worldwide (mainly large cap) valuations, no bargains, only US overvalued.

I know most of you don`t like the company but I bought a trading position in Teamviewer $TMV.DE under 11€. Numbers look great, they continue to grow in the high margin Enterprise Segment and are now trading at a 14% FCF yield, debt free in 2-3 years, buying back lots of stocks..

Seeing a lot of "2x free cash flow, insane margins, will grow 20% for years!" stock pitches where the author does not seem to realize the company is operating in a legal gray area that could end with the stroke of a pen, or is an outright fraud. Be careful.

Q1 letter of @alluvialcapital.bsky.social new Tactile fund: mcusercontent.com/b5aa12c5c889...

The Mountain is you is a book that answers many questions I used to ask myself. Personal stuff but also why people here are afraid of stocks while Americans are not. In the US they grow up with it while kids here are raised with stocks as dangerous (backed by media and politics)

@finanzgeschichten.bsky.social Griechischer Joghurt ist extrem lecker. Das merken auch immer mehr Konsumenten außerhalb Griechenlands. Daher exportiert der Joghurt- und Speiseeis-Hersteller Kri-Kri immer mehr.

Millennials are ruining everything… “In April, two of the best-known producers, Lafite Rothschild and Angélus, both released their priciest 2024 red wines at 31% discounts to 2023’s vintage." Lafite’s is priced at €288 per bottle while Angélus’s is €180. Both are the lowest prices since 2014”

„Size is an enemy for the performance of Berkshire. We can’t solve that problem unfortunately.“ Warren would still do micro- and smallcaps if he could.

Everyone who told us to sell back then under 5.000 is gone. Since nothing has changed I further upped my cash position in the last days. I‘m always careful but at 5.700 in this environment I‘m extremely cautious, closely following what happens. Take care!

new blog post: NoNameStocks annual performance 2024-2025 www.nonamestocks.com/2025/04/nona...

President Donald Trump will have dinner with the top 220 holders of the Trump memecoin, the issuers of the cryptocurrency announced on Wednesday

My watchlist shows more and more US names for the first time in a while. Mainly well positioned small- and microcaps as well as some life sciences midcaps. Stocks that went down with the market without a lot of dependence on the economy. Weak dollar makes them even cheaper for us Europoors.

We enter the stage where market continues to go down even if Trump is talking about a tariffs deal with the EU and a Russia/Ukraine deal maybe this week. He has lost all credibility on Wall Street.

2,5 years ago when €/$ hit 0,96, there was barely any euro bull left and no one understood why I thought 1,15-1,2 is likely fair value. Timing the market is difficult but in the long run nearly anything will eventually hit fair value.

Calculated in € we are at the 52wks closing lows from a few weeks ago for the s&p500 and nasdaq100. Most sectors still looking pretty expensive though.

The no. of US large cap technology stocks that hasn‘t lost at least 35% from recent highs is getting pretty small. Meanwhile $SCZ is just 5% below 3y highs. (all calculated in $)

Kri-Kri $KRI.AT a bit under my estimates, margin guidance lower than expected but very nice revenue growth in q1. Hoping for further weakness to add. www.krikri.gr/dyn/em_news/...

Precia $ALPM.PA 2024 results in line. Outlook sounds promising. Happy to add more on further weakness. Already trading at only ~6,5x ev/ebit but you never know what happens short term in French microcap land… fr.preciamolen.com/wp-content/u...

Looks like recession incoming in the US to me. Still the most expensive market with the worst administration ever. Hard to justify these multiples.

Got 19% Cash again. -2% (in €) ytd now. I think the sentiment is way too bullish. Earnings season especially in the US will be very interesting. I will watch and don’t make transactions in the next weeks - instead do the work on my various newly added watchlist names. Take care!

Sold out of $IPS.PA with a smallish gain. Very cheap but lots of US revenue plus typically costs for their clients which they will cut fast if the economy slows.

As an € investor invested in the s&p 500 you lost ~30% in 2008. With the ongoing dollar devaluation this morning, we are at -20% in the last 2 months.

No one knows shi* but one thing is certain: the more people capitulate, the closer the bottom gets. Days like yesterday where everyone gets fomo and the rally is killed intraday accelerate this.

Added $ROVI.MC again at ~46€ - biggest position now…base case ~30% earnings cagr (starting 26) for years to come. Trading <12x 2026e ev/ebit. Biggest CDMO peer Catalent was bought by Novo,will cancel all 3rd party contracts in 26. All their clients need a new partner, Rovi is the biggest one then.

No matter what you think will happen next and no matter what will happen…the most important advice for this market: no leverage, just don’t do it!

The only 2 disasters within the last 16 years that sank the S&P DD in just 2 days: - Covid 😷 - Trump

Hier der "Schwarzer Freitag" #Space von @evfcfaddict.bsky.social und @financeschmidt.bsky.social als #MP3 #Download zum offline hören. 😇 🎧 Laufzeit: 70 Minuten, Größe: 48 MB ecijigj.r.bh.d.sendibt3.com/tr/cl/lhE_mQ... #Podcast #finSky

Ich bin seit 28 Jahren an der Börse unterwegs und habe wirklich viel erlebt. Mich kann eigentlich nichts mehr schocken. Aber die Selbstverständlichkeit, mit der dieser orangefarbene Clown das Fundament einer zum Wohle (fast) aller prosperierenden Weltwirtschaft zerstört, finde ich schauderhaft.

Heute 16:00 machen @financeschmidt.bsky.social und ich drüben einen Emergencyspace auf deutsch. Würde mich freuen euch zum Zuhören und Mitdiskutieren begrüßen zu können.

- Share cannibalism at it’s best - Selling weak subs at higher multiples than the stock trades at - Nice services grow especially in Africa - Shareholderfriendly management - Several tailwinds incoming - Huge dividend sweetens waiting time until market gets the memo $VOD

Wow $FTLF really rerated quickly after q4 report. Becoming attractive again: - nearly debt free - ev/fcf ~10 - 🐐 microcap CEO - sector weakness might be beneficial for further cheap m&a opportunities

What I added on this April 1: $ALPM.PA Precia, french provider of industrial weighting solutions trading at 6x ev/ebit or 9x ev/fcf. Great CEO, estimates going forward imo too low. Earnings should go up nicely in the next years via M&A and margin expansion. Illiquide!

Aktien 1. Quartal 2025 (Euro Gross Total Return): 🇺🇸S&P 500: -8,9% 🇪🇺MSCI Europe: +9,5% Europa über 18 Prozentpunkte vor den USA. Eine so große Divergenz hat es seit der Euro-Einführung 1999 auf Quartalsbasis nie gegeben. An der Börse ist alles möglich. Auch das Gegenteil.

Some links to stories that I found interesting have been posted on Substack: valueandopportunity.substack.com/p/some-links... Wordpress: valueandopportunity.com/2025/03/30/s...

1/5 Die Platform Group $TPG.DE ist nun bereits zum dritten Mal innerhalb kürzester Zeit bei uns im Podcast. Nach unseren zuletzt kritischen Tönen gegenüber dem Unternehmen hat sich CEO Dr. Dominik Benner bei uns gemeldet und wollte sich im Podcast... www.youtube.com/watch?v=LVay...

Closing the books for Q1. Up ~3% ytd. Holdings in order of size: $FILA.MI $ROVI.MC $EVS.BR $KRI.AT $DEF.DE $DR.TO $HEIO.AS $ENVI.AS $CBE.PA $ODET.PA $VID.MC $SUP.L $UD.MI $BB.PA $OSP2.HM $FMX $KITW.L $AZE.BR $ITD.MI $MACF.L $THEP.PA $ALPM.PA $ENGH.TO $BRKR $TRI.L 16,5% Cash

That’s a statement from $FTLF Q4 press release. Uncertainty leads to temp lower new investments and that usually leads to a recession. Most US valuations are too rich for that scenario. My last US holding is $BRKR-lots of revs from abroad and no dependency on the US customer.

Bioventix $BVXP.L is a UK company that offers antibodies. A 79% ebit margin, 6% dividend for ~11x ev/ebit. Their biggest contract expires in 8 years, but there is plenty of optionality with existing products as well as new ones for Alzheimer. Detailed writeup: maynardpaton.com/2025/03/04/b...

This is a very interesting market reaction on the announcement that the company will soon be the leader in a growing, high margin business. Looking more than 2 quarters into the future isn’t mr. markets thing atm. I got time.

Today is Rovi`s capital markets day. Today the whole world will realize why I made this a very big position. The 2030 guidance is huge (and I think conservative). If they don`t fail completely, the upside is massive. $ROVI.MC rovi.es/sites/defaul... Thx Nicolas!

I think the Atlantic piece is probably the scoopiest scoop of the last few decades. And it has clarified one thing - other than the total idiocy of sending opsec over group chats - Hegseth and Vance have a genuine animosity towards Europe. Something for us all to ponder.

The Trump regime accidently leaked its top secret war plans to a journalist at the Atlantic. In the chat the Trumpians trash talk Europe calling it pathetic and worry about the safety of Saudi interests. They also plot among themselves how much money they should try to extort Europe and Egypt for.

Who doesn't have a WhatsApp chat to share nuclear codes? "I could not believe that the national-security leadership of the US would communicate on Signal about imminent war plans" (do read it: it also shows how these guys think of Europe as a customer: "if Europe doesn't remunerate, then what?")

1/3 Vor genau einem Jahr hat uns unser Gast Sven Klaß das vielseitige Unternehmen Supreme PLC $SUP.L vorgestellt. Seitdem ist die Aktie um 30 % gestiegen. Warum sie zwischenzeitlich wieder etwas zurückgekommen ist und welche Gründe dahinterstecken... www.youtube.com/watch?v=GVMz...

Welp, there goes the US defense industry.

"Wenn ich nicht Finanzanalyst wäre, hätte ich wahrscheinlich als reiner Immobilien-Mensch manches anders gemacht. Aber die Kombination hat, glaube ich, der Sache gut getan." Das ist 100%ig richtig, lieber @kungler.bsky.social. Und genauso wollen wir es. goldesel.de/artikel/ceo-...

The great Ryan Telford made this 10y backtest I mentioned for MicroCapClub and the results speak for themselves: 2/3 of growing profitable microcaps are in Europe and even more important is the 10y cagr of those: Europe: 17,9% Canada 11,5% USA 8,1%

100% Made in Austria 🇦🇹 Lunch (Gösser owned by $HEIA but still produced here ;))

1/2 Doing the rough maths helps to reduce the cases you need to dig deeper. Let’s take $ISC.TO as an example. They are mediocre capital allocators so I would leave the exit multiple where it stays now at ~5,5x ev/ebitda. The graph looks promising but let’s translate it into