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PSH in my largest position and a friend is presenting the idea at the London Value Investing Club this Thursday.

The discount doesn't bother me, it is a positive, as long as Bill Ackman continues the outperformance.

Https://www.youtube.com/watch?v=mIOCFSwOSxs&t=2839s

Full presenation and discussion on the company

McBride is going to be presented at the London Value Investing Club next week.

I am not sure if it is still an opportunity after going 10x or so. However, I may re-evaluate my opinion after the insights from the presentation.

I think that the discount rate used in the presentation was high and conservative, but on the on the other hand the terminal p/e multiple was to high. I noticed that when I carefully wathed the presentation on Youtube

Is anyone coming to the presentation today?

Focusrite will be one of the companies presented on the London Value Investing Club next week, on Thursday (22th).

That implies that probably the stock has become cheap, and it has gone down a lot. I want to check the company further.

Any views?

Thanks!

Who were the largest shareholders when all this dilution happened, in the previous years?

Does anybody know about the history of shareholding?

But I guess the same management is in place, and the same shareholders. No?

In this cases I would feel comfortable if the controlling shareholders has changed. If not, I would bet the same would happen again.

On December 5th, Kenmare to be discusses at the London Value Investing Club.

Personally, my question for the speaker would be around the historical management practices, particularly the significant dilution experienced in earlier times.

Even at a modest 0.10x price to book ratio, the outcome could leave you with a mere fraction (1/1000th) of your initial investment, if this business is a stock printing machine

However, if there has been a shift in management, I would be more inclined to consider purchasing at the current price.

I hope I will learn more from people that closely follow the company.

Https://www.youtube.com/watch?v=JYRLx97cw80&t=2360s

The recorded version is here.

How do you think that interest rates can affect Natwest and other banks.

By the way, Natwest will be discussed among other European Banks at the London Value Investing Club this Thursday.

On Thursday London Value Investing Club will discuss Kistos and European Banks.

I don't have a position in the company, but I am thinking of it, and I like the idea of having exposure in European gas prices

This is the part that he presents the company. And at the end of the video there is some Q&A.
I think it's a very revealing presentation for Vertu Motors, from somebody that knows it well.
https://www.youtube.com/watch?v=o6R_RaJ6YIA&t=975s

It appears cheap in numbers, but I haven't analysed the company. It's going to be presented to London Value Investing Club. Do you think it's undervalued? I don't have a clear opinion yet.

The renewal of the credit facility is a big risk, and generally the fact they haven't clearly turned around.
But the market cap is so low for such a firm. So, in a few years from now, they will either go bust, or become a multi-bagger.
https://www.youtube.com/watch?v=Pb6lafdbpT8&t=4889s
At this part investors discuss the company at the London Value Investing Club. What do you think is the likelihood of the company surviving? I think it's above 50%, and I choose to buy because the reward is high, probably 4x

Here is the discussion. The members of the club tried to guess a fair valuation of the company, and made some points.
https://www.youtube.com/watch?v=Pb6lafdbpT8&t=4092s

The company returned to profitability and is built back its cash.
https://www.youtube.com/watch?v=Pb6lafdbpT8&t=4092s
There was a quick presentation and discussion, and the members of the club tried to guess a fair market capitalization for the company.

It is so cheap @rpmcc that even returning to pre-COVID levels, without much growth, is enough for great outperformance.
I prefer to focus on return to normal, and stabilization, and then any growth is welcome. I don't overpay to stress much about growth.
https://www.youtube.com/watch?v=Pb6lafdbpT8&t=1019s
Alex, did a great job presenting!

Things are very scary with the renewal of the lending facility, but the company so cheap. So, it's like a lottery ticket.
What is the likelihood of survival or death?
At the London Value Investing Club, on 12 Dec, there will be some discussion on undervalued retailers, and the company will be included.