ebdem

They just sold a share of the fiber cabinet to house business for around 8,5x EV/EBITDA: https://www.gruppotim.it/en/investors/reports-presentations/presentations-webcasts/2020/fibercop-cdpe-mou.html. It made 1,8 billion. They also sold the tower business for 1,6 billion: https://telecoms.com/505205/telecom-italia-becomes-latest-to-cash-in-on-tower-popularity/. This is the latest debt reporting (without leasing) There is also the chance to get cash for the other parts of the network. EBITDA this year is also depressed, cause tourism revenue is missing.

Anyone still covering TIM? Seems to cheap for me here - especially if leverage is falling to around 18 billion without lease and 23 with lease. They plan to have 4,5 - 5 billion Equite FCF in 2021/22. Market cap is currently 7,85 billion. EV should be around 30 billion then. Looks all to cheap for me. Elliott saw the value at 1,60 € and Vivendi entered at around 1,20 €.

One of our members took a deeper dive into Bolloré. Enjoy reading it: https://www.valuedach.de/en/2020/07/02/bollore-fr0000039299/ :)

The last post from the series on Berkshire. I have discussed the results of the meeting with Vitaliy Katsenelson and Steven Kiel:

Greggory Warren just wrote a piece on that: https://www.morningstar.com/articles/981005/what-the-pandemic-means-for-berkshire-hathaway

Maybe you also like this interview with Yefei Lu. Yefei has studied 20 investments of Berkshire Hathaway and written a book on them. We took a deeper dive on Coke and BNSF Railway

I had the pleasure to publish an interveiw with Greggory Warren today: Greggory is one of the 6 questioniares at the Berkshire Hathaway Annual meeting. In the interview we were talking about culture and valuation at Berkshire. Beside the fact, that we did it in November 2019, it offers a lot of good insights.

Looks like you are right: https://www.vivendi.com/en/investment-analysts/regulatory-information/treasury-share-transactions/. It hurts a bit to see that :D

05. November 2019 at the International Value Investing Conference

Yes. The points there were very interesting. I will have also an interview with him, where he will give more insights :).

Hello, I had the nice opportunity to film a lecture by Greggory Warren from Morningstar. He has been analyzing Berkshire for a long time and is also part of the panel of questioners at the Annual Meeting. That's why he knows how to ask Warren Buffett good questions and tells some of the behind-the-scenes stories about Warren and Charlie. Here you can find the video:

Hey CBF, I was again at the International Value Investing Conference. Like in 2018 (you can find all content here: https://www.valuedach.de/en/2018/11/13/international-value-investing-conference-2018-videos/) I had the pleasure to produce a lot of content, that I will publish in the coming time. Here you can enjoy the first interview. It is a talk with Alex Roepers of Atlantic Investment Management. We are, for instance, talking about the question where he finds value and his three biggest holdings:

Brokon: We don't have a podcast. Might be an option for the future, but currently I like video very much. Because it gives more information. You can just stream it on your tv. So, you are not distracted. John, thank you very much :D By the way, here is the next episode of the interview with Guy:

Thank you! I also heard that on expert networks in the video with Cliff: https://www.youtube.com/watch?v=ve-1KaMz0ZI. You might like that, too :).

Cigarbutt, thank you very much for your kind words and good thoughts! Here is part two. Enjoy it: