grenke
RV Capital letter to investors for the year ended December 31, 2020, discussing the correct place to apply margin of safety. Q3 2020 hedge fund letters, conferences and more Dear Co-Investors, The NAV of Business Owner was €872.11 as of 30 December 2020. The NAV increased 17.3% since the start of the year and 779.0% since inception on 30 September 2008. The compound annual growth rate since inception is 19.4%. The Development of our CompaniesI described the development of our companies in my half-year letter with a particular focus on the impact of Covid-19, so I will keep my comments here sho...
ValueWalk
Veraison Capital and Cobas Asset Management landed a victory at Aryzta’s special meeting last week, with all of their proposals approved by the Swiss bakery chain’s shareholders. The activists saw all three of their director nominees installed on the board, including former Aryzta executive Urs Jordi, who took over as chairman. The company’s CEO Kevin Toland was also dismissed from the board.Q2 2020 hedge fund letters, conferences and moreVeraison said in a statement the vote "paves the way for simplifying and focusing Aryzta as well as enhancing the significant value potential of the company....
ValueWalk
Disclaimer: There is some real wild speculation in this Grenke post which represents an explicit personal opinion from a concerned investor and nothing else. Please don’t take this seriously and please don’t sue me !!!!Q2 2020 hedge fund letters, conferences and moreAn Update On Mr. Grenke's ReleaseJust a very quick update on Mr. Grenke’s release that came 1 hour later than announced (when my index finger already began to hurt from refreshing the home page).I have copied out only the “juicy” part, highlights are mine:Die GRENKE AG gewährt den Franchiseunternehmen Unterstützung beim Aufbau der ...
ValueWalk
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