Diapers Get Messy…But Could Be A Good Business To Be In.

October 11, 2016 The Security Whisperer Mergers and Aquisitions, performance, Stock News GBL, Groupe Bruxelles Lambert, healthcare, Morgan Stanley, ONTEX, private equity, thematic investing

A Morgan Stanley-backed investment fund recently announced it has taken a stake in baby and adult diaper maker DSG International Thailand:

http://www.reuters.com/article/us-dsg-intl-th-morgan-stanley-m-a-idUSKCN12B10H

Groupe Bruxelles Lambert, a Belgium-based investment holding company which I believe is a good long-term hold and is up nearly 15% in EUR terms since my post (ABC, DEF, GBL?), also has exposure to a similar business via its investment in Belgium’s Ontex (www.ontexglobal.com).

I am going to go out on a limb here, but it looks like the smart money may be in diapers.

My Year-End Scorecard

January 2, 2016 The Security Whisperer Commentary, performance 2015 performance, Church & Dwight, GBL, Genuine Parts Company, Groupe Bruxelles Lambert, long term value, long-term investor, Marsh & McLennan, PACCAR, Penske Automotive Group, PriceSmart, top performer, Trinity Industries

As I consider myself to be a long-term investor, I take short-term disappointment in stride…not a few months does a successful investment make. Having said that, periodic performance reviews should be undertaken to ensure the ‘story’ that lead you to invest in the business in the first place has not materially changed (i.e. obsolescence, regime change etc.) and the businesses are still attractive for the long haul. Continue reading →

ABC, DEF, GBL?

September 15, 2015September 15, 2015 The Security Whisperer Analysis ADIDAS, Belgium, dividends, GBL, Groupe Bruxelles Lambert, Holding Company, Imerys, LAFARGE, long term value, NAV, ONTEX, Pernod Ricard, SGS, TOTAL SA

Nope…I didn’t forget my alphabet, I am writing about Groupe Bruxelles Lambert (the “GBL” above). GBL is the second largest holding company in Europe with a history going back more than one hundred years (founded in 1902, listed in 1956). Continue reading →

Should You Hold A Holding Company?

September 13, 2015September 16, 2015 The Security Whisperer Commentary EXOR, GBL, Groupe Bruxelles Lambert, Holding Company, Investment Ideas, INVESTOR AB, NAV

In my search for attractive long-term opportunities, I have always been fascinated by holding companies….businesses with the primary aim of investing in the stock of publicly traded enterprises but also in unlisted enterprises from time to time. Continue reading →