$VEEE and $FRZA are a couple of microcaps in an interesting situation, both have EV close to 0 and important
20 August 2023
The investment thesis is the part of the process that takes us more time. After analysing the macroeconomic environment and developing a top-down approach where we identify the industries that can be benefited from the macroeconomic conditions (in the next 12-24 months), we study that industry and its players. That is why once we choose an industry, we usually share investment theses about several players in the same industry (as has happened with the luxury yacht builders recently)
Our preference is for small cap companies, as we believe that the risk-reward balance is more favourable and they tend to be less covered by analysts. Consequently, there are greater opportunities for outperformance in the market.
Initially, we only shared the investment thesis of the companies that make up our portfolio. However, as we have grown the team and there are several collaborators in Moram, we also share analysis of companies that we have discarded or we see as attractive but there are not included in the portfolio. Our idea is to continue growing and offering more investment thesis. Nevertheless, we prioritise quality over quantity, so this process will go step by step.
Investment theses Consumer Discretionary
Arcos Dorados Investment thesis, an opportunity to get exposure to Latin American countries throughout McDonald’s
25 June 2023
Investment thesis – OneWater Marine $ONEW, a serial acquirer in the recreational boat industry in the US
18 June 2023
Catana Groupe – $CATGR. Catamarans manufacturer growing revenues >20% CAGR.
We have just launched our premium service that will
14 May 2023
Hotel Chocolat LON:HOTC – A turnaround idea in the punished UK consumer discretionary sector. Small cap mini-investment thesis
9 April 2023
Investment thesis of The Italian Sea Group, an Italian shipbuilder focused on mega-yacht with brands such as Perini Navi or
26 March 2023
Investment thesis – Good Times Restaurants $GTIM. A micro-cap in the US restaurant industry with net cash, buybacks and unit
29 January 2023
Investment thesis SanLorenzo $SL.MI , an Italian company dedicated to the designing and manufacturing of custom-made luxury yacht
14 January 2023
Investment theses Energy Sector
After rejecting Kistos offer,Serica merged with Tailwind,doubling production and diversifying from natural gas. Analysis of resulting company
25 August 2023
New Fortress Energy investment thesis, a fully integrated gas to power company growing double digit in developing markets
28 May 2023
Maurel & Prom is a French oil producer with interesting catalyst in the horizon
20 May 2023
Harbour Energy – Investment idea: the leading independent oil and gas company in the UK going through difficult times
19 March 2023
Other sectors
Analysis of Tamburi Investment Partners. $TIP.MI invests in both public companies (such as Moncler, Sesa, etc.) and private ones (Azimut-Benetti..),
24 September 2023
Investment thesis in Newlat Foods $NWL.MI an Italian small cap growing in the agri-food sector
17 September 2023
Investment thesis Vysarn Ltd, a vertically integrated micro cap company providing water services in Western Australia
27 August 2023
$INTD.MI Intred analysis, Italian small cap that is one of the main competitors of Unidata. Investment thesis presented a few
23 July 2023
Investment thesis Unidata, an italian small cap company providing broadband connectivity and growing double digit year after year
11 June 2023
$GOGO investment thesis. American small cap growing in the niche industry of internet & private airplanes
We have just launched our
7 May 2023
Adriatic Metals is a precious and base metals explorer and developer that owns the world-class Vares silver project in Bosnia
8 December 2022
Investment thesis that will be available soon
Since the past 1st of May and after more than 3 years of publishing free content, we have launched our premium B2C service; you can find all the information in the Investor Resources tab. As a team (that serves institutional investors), our commitment is that the frequency of content (>10 publications per month) and its quality make our price significantly below market value.
Other Investment ideas and analysis of companies
Analysis of MarineMax $HZO a boat & yacht dealer (discretionary sector) which is the main competitor of OneWater Marine $ONEW
9 July 2023
Analysis of Ferretti Group,the next yacht company making an IPO in the Italian stock market.It includes a detailed comparison with main peers
16 April 2023
Ecoener (BME:ENER) investment thesis, Spanish small cap trading at BME Growth, renewable energy IPP with hydro, wind, and solar PV assets.
2 April 2023
Analysis of Newlat Food SpA FY22 results, the outlook for 2023, and our thoughts on the company’s performance and potential M&A activity
18 March 2023
Investment thesis competition
In early March, we hosted a Small Cap Investment Thesis Competition, showcasing 20 promising candidates. After rigorous evaluation, we selected 9 outstanding finalists, including Newlat Food Spa, Playway, Troika Media, Thrive Holdings, Nowvertical, and Atlas Engineered Products, among others. Click on the image next to this text to gain access to these 9 investment theses.
Note: we move our Portfolio Management section to the Premium Area
Join the over 2,500 subscribers who have already signed up for our weekly newsletter!
After over 3 years of openly publishing investment theses and expanding our team, starting from May 1st, the majority of the content we publish is now premium. In the Investor Resources section, you will find all the information about the services we offer. Thank you very much for your trust!
