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Introduction Founded in 1965, RLI Corp. is a specialty insurance company with a niche focus. Initially, the company was called Replacement Lens Inc.*, as the company started out as an insurer for contact lens. They were once the largest insurer of this product in the world. In 1976, RLI expanded beyond contact lens insurance…...Continue readingMore Tag
Merkur Bank (MBK) is a small regional bank located in Munich, Germany. In 1986, MBK was acquired by a group of private investors led by Mr. Siegfried Lingel. At this time MBK had total assets of €14 million and 7 employees. Mr. Lingel refocused the bank’s business on financing residential real estate developers in Leipzig,…...Continue readingMore Tag
On 16 June 2017, Amazon announced a $13.7 billion acquisition of Whole Foods. The announcement then engendered meaningful declines in stock prices of major grocers/supermarkets, not just in the US but also in Europe. Kroger, in particular, dropped as much as 17% that day. This brings its YTD performance to -31% as of 29th June…...Continue readingMore Tag
Ticker: PROTCT Country: Norway Stock price: 71,75 NOK Summary of the thesis: A fast-growing Norwegian insurer with higher than industry growth in premiums. Historically it has grown premiums at 20 %, achieving 92 in combined ratio and an investment return on the float of 5,5 %. A low-cost focused business…...Continue readingMore Tag
UPDATED: 20-JUN-2017 Athletic apparel manufacturers typically develop, market, and distribute their own branded apparel, footwear, and accessories for men, women, and youth. Products are usually sold worldwide and worn by athletes, as well as by consumers of active lifestyles. Products are most often marketed at multiple price levels with revenue generated from a combination of…...Continue readingMore Tag
OWNERSHIP: I first bought WFC in FEB-2010. It is my top holding at 12.5% of my portfolio. Figures as of 24-APR-2017 SUMMARY Wells Fargo is one of the biggest banking / financial institutions in the United States. The company is organized into three operating segments: Community Banking which offers a complete line of financial services…...Continue readingMore Tag
Overview Under Armour (UA) was founded in 1995 by Kevin Plank, then special teams captain of the football team from University of Maryland. Frustrated by the increase in weight traditional cotton T-shirts incur after heavy sweating, Plank set out to develop T-shirts using better materials. After a year of fabric and product testing, he…...Continue readingMore Tag