Thank you! Frankly nothing changed much, I think all these stocks are still pretty good mid to long term. Ideally I also like to have good short term setup, so here I see more in my new positions.
Stef, I’ve just become a bit more negative on Europe short term, so didn’t feel great about it.
OUE sold the china asset, great. But at a big discount to book value and they do not intend to buyback shares with the proceeds. Kinda lost respect of the management for this.
Dreamfinders, had a chance to sell for a quick gain as interest rates in the US were creeping up again, also vacancy in their markets is not that low. So decided to take the gains. But might get back in anytime soon. It’s very cheap and should do well long term.
Autopartners, again related to my Europe view.
Match, I think growth came in a bit lower than I expected and I could take some solid gains since my writeup
We share IWG and HFG holdings. Among my tops is the greek Euronext just listed THEON, high growth founder led European defense but growing in the US small cap, it may interest you. Thanks for your great work!
360-400m AEBITDA is company guidance per recent Q3. “Other revenue” is just the report year over year growth per Q3. So there are no assumptions baked into these parts, just the most recent numbers.
I’d say >$100m run rate revenue for other is not negligible compared to the market cap of 2.1b especially if growing >100%. I think these are the next segments within the platform that hint at long term growth potential for HF.
Thanks! I struggle with your HFG AEBITDA forecast, particularly the Other revenue line. What are your assumptions? So far and while growing the revs line is negligible and still AEBITDA negative.
Thank you for this excellent writeup and congratulations on the 2024 performance. I wish you an even better 2025.
Could you tell us in short why you ditched the rest of your q4 24 portfolio (Stef, OUE reit, Dreamfinders, Autopartners, Match)?
Thank you! Frankly nothing changed much, I think all these stocks are still pretty good mid to long term. Ideally I also like to have good short term setup, so here I see more in my new positions.
Stef, I’ve just become a bit more negative on Europe short term, so didn’t feel great about it.
OUE sold the china asset, great. But at a big discount to book value and they do not intend to buyback shares with the proceeds. Kinda lost respect of the management for this.
Dreamfinders, had a chance to sell for a quick gain as interest rates in the US were creeping up again, also vacancy in their markets is not that low. So decided to take the gains. But might get back in anytime soon. It’s very cheap and should do well long term.
Autopartners, again related to my Europe view.
Match, I think growth came in a bit lower than I expected and I could take some solid gains since my writeup
We share IWG and HFG holdings. Among my tops is the greek Euronext just listed THEON, high growth founder led European defense but growing in the US small cap, it may interest you. Thanks for your great work!
360-400m AEBITDA is company guidance per recent Q3. “Other revenue” is just the report year over year growth per Q3. So there are no assumptions baked into these parts, just the most recent numbers.
I’d say >$100m run rate revenue for other is not negligible compared to the market cap of 2.1b especially if growing >100%. I think these are the next segments within the platform that hint at long term growth potential for HF.
Thanks for the hint with THEON. Will have a look
Thanks. Seems this may well be a driver beyond market expectations. Then in your forecast table, what do you include in EBITDA ex Holdco?
Thanks! I struggle with your HFG AEBITDA forecast, particularly the Other revenue line. What are your assumptions? So far and while growing the revs line is negligible and still AEBITDA negative.