Clinica Baviera ( link ) 財報非英文, 無法閱讀 Explosifs et produits chimiques ( link ) 不熟悉的產業, 多看多了解 Quartix ( link ) 同場加映 from symmetry ( link ) 與其他car tracking service無本質上的差異, 導致churn rate持續上升 and avg. price持續下滑 => 相同原因, 一樣不看好Karooooo Allterco ( link ) 驚人預估未來成長率, 但未來真有這麼樂觀?! 後續須觀察發展狀況 estimated 2022 earning/EV = 4.1% FC from operation跟earning有一段落差 Logistek ( link ) ( link ) ( link ) SFS ( link ) Alluvial Q4 letter ( link ) P10 Inc. (現已改名為px) https://www.valueinvestorsclub.com/idea/P10_HOLDINGS_INC/2866340908#description https://www.valueinvestorsclub.com/idea/P10_Holdings/5205481640#description https://nocalledstrikes.com/2022/01/31/the-p10-alternative/ https://nocalledstrikes.com/2023/04/24/p10-update-still-growing-and-buying-back-stock/ https://www.yetanothervalueblog.com/p/dave-waters-from-alluvial-capital?sd=pf Operating margin = 2.6%, 這個長期不會改變 內部持有很多, interest alignment Fitlife brand estimated 2022 FCF/EV = 7.6%. How about future growth rate? Annual report 2022 of the sub-advisor LMN ...