Mikro Kap David
@david_katunaric
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turning over micro rocks and sharing my discoveries || there's always a cheap market somewhere || not investment advice
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Joined April 2021
📢ANNOUNCEMENT❗️ A few months ago, I left my equity analyst job to fully dedicate myself to The Mikro Kap. That wasn’t an easy decision, but it felt right. After two years of free analyses, all new content will now be behind a paywall. Here’s my offer to you: (link in bio)
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The amount of capital needed to produce each dollar of incremental sales. A decade ago, these 4 companies needed just $0.36 to produce an incremental dollar of sales growth. Today, that same dollar of sales requires $1.71 (and that dollar of sales growth is far less impactful
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No investor ever steps in the same micro-cap twice, for it's not the same micro-cap and he's not the same investor.
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Can't wait to use this as an excuse when I start underperforming
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@RockwoodNotes And pretty sure I’m the only person in Croatia who calls a business book a “bad boy"
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This bad boy showed up in the mail today. Pretty sure I’m the only one in Croatia who owns it. Thanks @RockwoodNotes!
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Reading an annual report from a 🇩🇪 competitor of a 🇺🇸company I’m researching. The process so far: 1. Convert the scanned PDF to a readable one so the translator can actually pick up the German text. 2. Split the file into three parts—after OCR, the size balloons and the
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Also baffled by this. If the same thing were happening to a non-US company, it’d probably be labeled bureaucratic, slow, and unable to make decisions without government influence etc. Maybe even “at risk of resource nationalization.” Yet in the US, it somehow earns you a
I’m old enough to remember when government ownership hurt a stock (e.g. China’s SOEs)…
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Noticed most investing “blueprints” out there are shared by people who’ve never actually rolled up their sleeves and done real due diligence on a company. Instead, they borrow conviction on whatever popular tickers are circulating around and package them as their own ideas.
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What it's like to be 25% YTD in 2024 on Fintwit:
It is a lot harder to be a patient investor when it seems like everyone else is up 100% YTD
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Portfolio is up 34% YTD, and I’ve shared the current allocation with paid subscribers. My portfolio beta sits at 0.6, and this time I’m including a screenshot of the “risk indicators” alongside performance metrics—so it doesn’t get lumped in with the momentum chasers and gamblers
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It’s often much easier to make a good add decision than a good initial buy decision
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Great write-up on less discovered US opportunity with lots of optionality and likelihood of thesis shifting quickly in the near future. David brough more colour on parts i focused less on. I am long.
Before the feed gets crowded with YTD updates, I want to highlight one of the most interesting special situations I’ve come across this year. (🇺🇸) At first glance, it’s not the type of company I’d usually write about. And if not for @Kreuzmann13—a good friend and an investor I
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Before the feed gets crowded with YTD updates, I want to highlight one of the most interesting special situations I’ve come across this year. (🇺🇸) At first glance, it’s not the type of company I’d usually write about. And if not for @Kreuzmann13—a good friend and an investor I
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Me, every time I read the seller-financing terms $LDB.MI manages to pull off in these HVACquisitions
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Stuff you see at market tops. RJR/AOL + TWX/Harrah’s were all “largest ever deals” and all done at multi-year market tops…
"Assuming a deal comes together, it is likely to rank as the largest leveraged buyout ever, not adjusting for inflation" $EA
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