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We hope you had a wonderful Thanksgiving That´s us, small-cap, value-orientated investors, yelling at cloud: "The market is broken" (see article below).  Eagle Point capital is giving us some very good book reviews again (see article below). I´ve just ordered the Greg Harden one. He helped Tom Brady´s transformation from a back-up quarterback into "the GOAT". Maybe the book can help me turn into a half-decent analyst...  Remember these "base rates" whenever a company claims they can grow 2-digit for a long time (see Klement article below)
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The consensus: "Germany is utterly and royally f*ucked. The sick man of Europe, again". Carsten Müller (article below) sees opportunity where others see gloom and doom. He thinks Bayer, BMW, Sixt, Amadeus Fire, Hermle and Funkwerk are worth a look. We would also highlight the following names: Wacker Chemie, Jost Werke, Befesa, PVA Tepla, Siltronic, Sto, Steico, Carl Zeiss Meditec and Porsche 911.
 Jim Grant thinks "Interest rates are not sticking to the Central Bank´s script". What makes his views on rates, US debt, Private Equity and Value Investing so valuable is his unique knowledge of financial history.  The unbalenced US budget is source of concern, not only for the bond market. As usual, Warren Buffet has a solution: “I could end deficit in 5 minutes. You just pass a law that says that anytime there's a deficit of more than 3% of GDP all sitting members of Congress are ineligible for reelection. Now you've got the incentives in the right place right? (Warren Buffet).  |
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The market being up >20% for 2 years in a row is rare. Here´s what happens in the foloowing 2 years. I know, i know: fun to know, but not useful whatsoever
Insider Selling is at All Time High as well...
David Tran built the Sriraca Hot Souce brand without any advertising (see podcast below)
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We´re talking serious "money" now (for some)
 Anecdotally, Allianz bought a big junk of the converts. In case you try to short this ponzi, first read this (click) Some inspiration in case you go gift shopping this weekend (click) Enjoy the Weekend !
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