hammerinvesting.wordpress.com
Polarcus revisited | hammerinvesting
https://hammerinvesting.wordpress.com/2014/12/08/polarcus-revisited
Investing with a hammer. December 8, 2014. Has a special situation presented itself? I went into some detail on Polarcus three weeks ago ( https:/ hammerinvesting.wordpress.com/2014/11/18/polarcus-a-short-analysis/. I believe the latter to be the case. This post is not about the longterm value of Polarcus. Instead it is born out of what seems to me a special situation that has developed. The newest major shareholder list, http:/ imgur.com/xrF3q9p. Why would a fund sell at large discounts? At the end of t...
hammerinvesting.wordpress.com
hammerinvesting | hammerinvesting
https://hammerinvesting.wordpress.com/author/hammerinvesting
Investing with a hammer. All posts by hammerinvesting. Takeaways from the Wilhelmsen Capital Markets Day. September 19, 2016. I attended the Wilhelmsen Capital Markets Day in Oslo last week and it turned out to be fruitful in many respects. More than 100 people showed up and it was great to have the chance to exchange ideas with other investors and to meet management for the first time in a format that allowed plenty of time. Notes from Wilhelmsen CMD. The holding company, WWH (stock ticker WWIB):. Low c...
hammerinvesting.wordpress.com
Arise Windpower – traded at a historically large discount, part 1 | hammerinvesting
https://hammerinvesting.wordpress.com/2014/10/09/arise-windpower-traded-at-a-historically-large-discount-part-1
Investing with a hammer. Arise Windpower traded at a historically large discount, part 1. October 9, 2014. Note to the reader: What follows is an analysis of Arise Windpower. Part 1 will contain a qualitative analysis the why without a lot of numbers, while part 2 will focus more on the quantitative aspects of the case, ie. the numbers in the annual reports, discounted cash flows, etc. If it is too long winded for you there is a summary. At the bottom of the page.). Hard I believe Arise Windpower. 8220;F...
hammerinvesting.wordpress.com
Polarcus – the story has darkened | hammerinvesting
https://hammerinvesting.wordpress.com/2015/03/12/polarcus-the-story-has-darkened
Investing with a hammer. Polarcus the story has darkened. March 12, 2015. Two problems in the horizon. The need for cash. Sold Polarcus shares, bought Dolphin. For the above reasons I decided to sell my Polarcus shares and buy Dolphin instead. I believe in the longerterm outlook for the industry but right now I believe the risk/reward has become less attractive in Polarcus, even though the stock has gone down significantly in the last two weeks. Arise Windpower – takeaways from the Q4 webast. May 20, 2016.
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Arise Windpower – a quantitative analysis (part 2) | hammerinvesting
https://hammerinvesting.wordpress.com/2014/12/28/arise-windpower-a-quantitative-analysis-part-2
Investing with a hammer. Arise Windpower – a quantitative analysis (part 2). December 28, 2014. Back in October I wrote a qualitative analysis on Arise Windpower ( https:/ hammerinvesting.wordpress.com/2014/10/09/arise-windpower-traded-at-a-historically-large-discount-part-1/. 8211; before reading this quantitative follow-up I recommend that you read part 1 first. Since October, there has been some interesting developments:. Projects sold above book value, while the stock is traded at a 48% discount.
hammerinvesting.wordpress.com
Wilhelm Wilhelmsen Holding – quality at bargain prices? | hammerinvesting
https://hammerinvesting.wordpress.com/2015/03/18/wilhelm-wilhelmsen-holding-quality-at-bargain-prices
Investing with a hammer. Wilhelm Wilhelmsen Holding quality at bargain prices? March 18, 2015. I might just have stumbled upon such a company:. Listed on the Oslo Stock Exchange, stock ticker WWI. It has in fact been on my radar for some time I just hadn’t gone down and dirty with analyzing it due to its complexity which meant it would be a time consuming exercise if nothing came up. Below is a diagram of its structure:. Key valuation figures, WWI (holding company). Uncertainty about contract renewal.
hammerinvesting.wordpress.com
Wilhelm Wilhelmsen Holding, the Bull Case | hammerinvesting
https://hammerinvesting.wordpress.com/2015/03/23/wilhelm-wilhelmsen-holding-the-bull-case
Investing with a hammer. Wilhelm Wilhelmsen Holding, the Bull Case. March 23, 2015. My last post on Wilhelm Wilhelmsen Holding, WWI, focused on the Bear Case,. Https:/ hammerinvesting.wordpress.com/2015/03/19/wilhelm-wilhelmsen-the-bear-case/. In this post I will present some bullish arguments. It will be shorter than my first two posts as some bullish arguments have already been discussed in those:. Bottom of High and Heavy cycle? High barriers to entry. Strong dollar, cheap oil, opex cuts. Investments ...
hammerinvesting.wordpress.com
Arise Windpower – takeaways from the Q4 webast | hammerinvesting
https://hammerinvesting.wordpress.com/2015/02/16/takeaways-from-the-q4-webast
Investing with a hammer. Arise Windpower – takeaways from the Q4 webast. February 16, 2015. The Q4 result came in a bit lower than I expected (SEK 26 million vs. SEK 34 million), primarily because I had expected a larger share from the higher hedged prices than from in-the-market spot prices. I found it interesting nonetheless because of the substance of his comments. On slide 11 in the presentation, http:/ arise.se/sites/default/files/report/q4 presentation feb13 2015.pdf. Arise Windpower – a quan...
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Update on Wilhelm Wilhelmsen Holding | hammerinvesting
https://hammerinvesting.wordpress.com/2015/07/22/update-on-arise-wilhelmsen
Investing with a hammer. Update on Wilhelm Wilhelmsen Holding. July 22, 2015. It’s been a long while since my last post, so I thought I’d give a short update on developments in Wilhelm Wilhelmsen Holding (listed in Norway) since my last post. Please excuse me if this post is a bit more hurried and less thorough than I normally aim for (fewer concrete numbers), but it is vacation time😉. Much as I expected Q1 was a great quarter, primarily due to a strong dollar, a low oil price and cost cutting effects f...
hammerinvesting.wordpress.com
Wilhelm Wilhelmsen Holding, the Bear Case | hammerinvesting
https://hammerinvesting.wordpress.com/2015/03/19/wilhelm-wilhelmsen-the-bear-case
Investing with a hammer. Wilhelm Wilhelmsen Holding, the Bear Case. March 19, 2015. In my first post on W. Wilhelmsen Holding published yesterday, https:/ hammerinvesting.wordpress.com/2015/03/18/wilhelm-wilhelmsen-holding-quality-at-bargain-prices/. It was established that the stock is exceptionally cheap right now, based on both Price/Book and Price/Earnings. Why is it cheap? So far I have spotted the following possible reasons:. Uncertainty about contract renewal. Dividend payout ratio is low (12%).
