SCHO.CPH - Schouw & Co. A/S

[Gregmal]

Just wanted to bump this before I forget, if nothing else as a reminder to myself to swing back and do further work. Thanks to John for mentioning in another thread. Looks promising.

[John Hjorth]

Thank you, Greg,

 

And a belated Happy New Year to you.

 

I'm sorry for a late reply here. The last quarter of 2019 and the days till now of the new year for me has been extremely busy. I think all the dust is about to settle now, for me personally.

 

Back at November 26^th 2019 I participated in a session set up by DAF [in Danish : Dansk Aktionærforening - In English : The Danish Shareholder Association] here in Odense, Denmark with focus on Schouw & Co. A/S. The company was represented by VP Kasper Okkels, Vice President of Strategy and Investor Relations at the session.

 

I won't exactly call that session a Black Swan event or a wake-up call for me, but I got a much more nuanced and detailed perception of the conglomerate, its modus operandi and the subs during the session than I had before the session.

 

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I now plan on "reviving" this topic a bit with some further posts along the way after the 2019 Annual Report is released on March 6^th 2020. [Perhaps this time I won't end up in an echo chamber talking to my self [ lol! - [ ; - ) ]]].

 

 

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SCHO.CPH is still one of my largest positions.

[Gregmal]

Thanks John, and yes Happy New Year as well.

 

I like this business on the surface and hope to dive in more in the coming weeks as time permits. My challenge with companies outside of the US is often grasping their place in the food chain(no pun intended), the brand recognition/value in their markets, and ultimately the moat. Also kind of grasping what the market perception/sentiment is as well. Bring up McDonalds, Wendy's and Chipotle and instantaneously, years worth of "existing" as a human and consumer registers a rough starting point in my assessment of the business. Same with Walmart, Macy's and Dick's. As an American, "Schouw & Co" triggers a blank stare lol. But this is one of the areas as an investor I hope to improve. There are certainly great companies outside of North America that I am missing.

[Spekulatius]

Thank you, Greg,

 

And a belated Happy New Year to you.

 

I'm sorry for a late reply here. The last quarter of 2019 and the days till now of the new year for me has been extremely busy. I think all the dust is about to settle now, for me personally.

 

Back at November 26^th 2019 I participated in a session set up by DAF [in Danish : Dansk Aktionærforening - In English : The Danish Shareholder Association] here in Odense, Denmark with focus on Schouw & Co. A/S. The company was represented by VP Kasper Okkels, Vice President of Strategy and Investor Relations at the session.

 

I won't exactly call that session a Black Swan event or a wake-up call for me, but I got a much more nuanced and detailed perception of the conglomerate, its modus operandi and the subs during the session than I had before the session.

 

- - - o 0 o - - -

 

I now plan on "reviving" this topic a bit with some further posts along the way after the 2019 Annual Report is released on March 6^th 2020. [Perhaps this time I won't end up in an echo chamber talking to my self [ lol! - [ ; - ) ]]].

 

 

- - - o 0 o - - -

 

SCHO.CPH is still one of my largest positions.

 

My largest issue with Schouw is that the fish food is a business with commodity like characteristics. If not for that, I think I would buy a position as well. Management clearly had a long term focus and appears to be fair to minority shareholders.