BATS by Invariant ( link ) High Uncertainty. The mix of best and worst. Appier ( link ) Equity/Bond for the long run part 2 and 3 ( link ) ( link ) Kamigumi - A Leading Port Infrastructure play in Japan ( link ) 2023 and 2024 average FCF/EV = 11.79%! (2024/5/17 Pros cash/investment rich (maybe too rich which has negative impacts to ROE) steadily increasing cash flow even though slow revenue growth good to shareholders by dividend and share buyback reduce 3~4% share count each year plan to increase ROE, asset turnover rate Possible risks Japan/Asia economy slowdown Asia war (Korea/Taiwan) International investment results Takeuchi ( link ) Haypp Group ( link ) ( link ) business model: online aggregator for reduced-risk nicotine products price/quality/shipping time/mutli flavors current FCF/EV = 1.89% sales growth rate = 20% FCF/EV estimation (share price 87.4) estimated 2024 FCF/EV = 3.21% estimated 2025 FCF/EV = 4.87% best case 2025 FCF/EV = 5.71% Strength Market shift f...