All ideas

Bollore is a holding company controlled by Vincent Bollore, trading at 6x estimated earnings. It has valuable stakes in high-quality businesses, including a significant share in Universal Music Group,

Nippo is a leading player in the asphalt and road manufacturing industry, generating consistent returns on capital. With a strong track record of earnings growth and a low valuation of under 5x earnin

Element Fleet Management is the largest commercial fleet management business in North America, providing essential services for a blue-chip customer base. The company is expected to grow steadily at a

Sony is undervalued at around 10x earnings, ex-cash, and is a leader in video games, music rights, and TV/film production. The market misunderstands its business model, viewing it as cyclical when it

Itochu is fundamentally different from other Japanese trading companies, showing consistent earnings growth of 10% annually for 15 years and generating low-teens returns on equity. Their diverse portf

Alaska Air is a key player in the airline industry and is expected to benefit from the recovery in travel demand as conditions improve. Its strong balance sheet and operational efficiency make it an a

Rolls-Royce is positioned in the aerospace sector and is anticipated to recover alongside the normalization of travel. Its strong fundamentals and market position make it a compelling investment oppor

Airbus is involved in aerospace manufacturing and is expected to benefit from the eventual recovery in the aviation sector as travel demand increases. Its strong balance sheet positions it well for fu

Sabre operates in the travel technology space and is likely to see a rebound as travel demand returns post-pandemic. The company's resilience and potential for recovery make it a worthwhile investment

Amadeus is well-positioned in the travel technology sector, and despite the pandemic's impact, the demand for travel remains strong. The company is expected to benefit as the travel industry normalize

UniCredit has undergone significant restructuring under new management, which has improved its balance sheet by addressing non-performing loans. This restructuring has lowered risk, reduced the cost o

Volkswagen is expected to become the world's leader in electric vehicles and will have the cleanest fleet in the next decade, driven by significant shareholder engagement and pressure to improve their

Limited Brands, particularly its Bath & Body Works segment, is in good shape and has established brands that retain value even in a challenging retail environment.

Boardriders, the parent company of Quiksilver, has valuable brand equity, which allows them to charge premium prices for their products despite challenges in the retail sector.

Allison Transmission manufactures standard transmissions for combustion engines and is also involved in electronics, positioning it well for the evolving automotive industry.

Nine Energy specializes in making disposable plugs used in horizontal drilling, which is a critical component in the energy sector, although there are concerns about regulatory changes under a potenti

Unity owns fiber to the home that they lease to Windstream, which provides a stable revenue stream despite the challenges in the telecom sector.

Farfetch is positioned to capture a larger share of the luxury goods market, which is expected to grow significantly. Despite current concerns about its high take rate, the company's growth trajectory

Farfetch is undervalued due to its strong economic moats, the market's overreaction to Amazon's entry into luxury goods, and its significant growth potential. The target price is set at $40, represent

TJX has a balanced mix of close-out purchases and private label production, making it resilient to trade disputes. Its newly invested distribution centers will enhance inventory management flexibility

Hanesbrands is undervalued due to its growth potential in eCommerce, the Champion brand, and international markets. The company has seen significant growth in its direct-to-consumer channel and has a

Ally Financial is well-positioned to thrive post-Covid due to its shift to a deposit-funded model, which reduces risk compared to its previous reliance on short-term debt. The company is expected to r

We purchased Pinterest after its stock fell significantly, believing that increased engagement during the pandemic would enhance its business value despite the drop in stock price.

We bought Match.com as we saw an opportunity to invest in a company that could benefit from changing consumer behaviors during the pandemic.