Thelilyinvestor

Thanks for sharing your insights, definitely is one of the cheapest ones out there, also a full position for me at this point.

Will we see a big number of share buybacks in Q2 2021 or a clear slowdown because the share price went up? Anyone any thoughts? I personaly think Berkshire Valuation as pretty much fair so I expect a clear slowdown of buybacks by Buffett. On the other side, I prefer to see them keep doing buybacks even at fair value rather than the cash balance keep going up up and up.

Great write up BroKon, totally agree with you. I am an owner of this business since the depths of the pandemic and it has surprised me positively quarter by quarter in the following ways: 1) Diversified across many traditional insurance operations with very healthy combined ratios. 2) Credit Insurance business with an amazing combined ratio of around 75%. 3) Growth in pure revenues across most segments. 4) An insurance business which is really profitable and not so reliant on float returns. 5) Growth focused on acquiring other insurers instead of growing float 6) Great consistent growth track record 7) Management has skin in the game as it is the founding family. I also believe that their valuation is pretty fair right now (I wouldnt add at these prices) and that investment returns from their float are likely to not be excellent due to their allocation and bond yields in Europe. I am for sure missing many important things so would love if anyone had other points of view or insights about the business.

Couldnt agree more with you...

I have a position in BTI, with the update with 5% growth, I am considering add a bit more. My main thesis is the following: in a market which is difficult to find bargains, BTI gives 8% dividend distributed across 4 quarters (nice cash cow), some potential multiple expansion, recession resistant and might be an okey hedge if inflation speeds up. I dont think it is an investment which is going to make extraordinary things, but if someone has some excess cash and wants to put it to work, this seems at least a reasonable idea.

Any idea of how they will profit? Will they earn a % of the assets of the REIT? They plan to scale the REIT up to 100B JPY over a couple of years so it could be a very strong recurring income for Shinoken I believe

https://www.dataroma.com/m/holdings.php?m=PI Mohnish Pabrai has bought Alibaba, along with Charlie Munger and there is a chance Li Lu has an investment in it in HK, very interesting to say the least...

Q1 2021 Shinoken Results are out guys. Real Estate Sales are significantly down... rest of business is improving. Q1 2021 Shinoken.pdf

I like to have 10-15%, it gets me still upside from a bull market and if the market goes down I can take some advantage of it. Also, I think having cash and not being 100% invested can make you a bit less "emotional" about the daily swings of the market and take better decisions over the long term. This is one of those questions where there is so many correct answers...

I also normally go for cheaper stocks but I think pure earnings growth will re-rate the stock= consistent organic growth + acquisitions + improving margins (scale) + buybacks + growth in dividends + new line of businesses like wealth management they are implementing, all this forces are acting together right now... At around PE 18 I believe is almost "inevitable" they will grow earnings 15%+ per year for a couple of years. The downside for me is that it all depends on the Founder Brett Kelly, he is the driving force of the company so my thesis depends entirely on him running the company.

Kelly Partners is a micro-cap in the Australian Stock Market, the company is growing fast through acquisitions and improving those acquired businesses. Brett Kelly, the Founder and CEO looks like an amazing capital allocator and business man + extremely focused on growing EPS. Just curious if anyone else has had a look at this, I believe it can grow earnings between 10-20% for 10+years I leave you atached the Owners Manual so you all can have a quick look. KPG-Owners-Manual.pdf

Hi Mike, I asked them and they cannot answer when trading from DEGIRO in Turkish stocks will resume... so it might be a painful wait for a while...

Completely agree Lollapalooza, Everyone is free to like him or not, but we can all admire his intention of trying to be a better investor every day. Personally, I am learning so much on his last few talks and I am very "bullish" on his results over the next couple of years... but time will tell! Long Shinoken!

I was going to buy it last week through DEGIRO and they didnt let me, they say that trading in Turkish Stocks is suspended due to the lira volatility. I hope they let clients buy soon, will post if they do.

https://app.tikr.com/stock/ownership?st=shareholders&cid=27620446&tid=384083295&ref=h58yfl Li Lu owns a little bit over 6% of Postal Savings Bank of China. If you go to Ownership in the TIKR Terminal page above you will find his position. Also, in a recent interview he spoke about the great positioning of Chinese banking for the future