Some links and some HealthCareStocks worth a look

  • Gannon and Hoang writing about MSC Industrial Direct (MSM): A Metalworking Supply Company (link)
  • The Brooklyn Investor Blog is active again (link I), (link II)
  • I believe my pig whistles: Muddy Water, who famously short Ströer, released Ströer AGM Transcript (link)

ten Doornkaat: You then said you had an investigation conducted by Ernst & Young (EY). This is the same company that prepared the annual financial statements. What did you expect? That they would come forward and say, Oops, sorry, we’ve made a mistake, we’re returning our auditor’s licence to practice? This is laughable.

No need. The technology is so sophisticated that I can hear you even when I’m
ten Doornkaat:
Good. Then perhaps you can come up with some answers while you’re peeing, too.
Tüngler:  A clear opinion has emerged, which we at the DSW share, that the numbers
have not been manipulated, massaged or falsified.


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Some links


Bruce Berkowitz Comments on Individual Holdings in Mid-Year Letter (link)

The Funds own senior bonds of Atwood due 2020 with a 17% yield to maturity. Year-to-date, Atwood has retired over 30% these bonds due 2020 via open market purchases and a $150 million cash tender offer announced in late June. These events indicate that management believes it has the financial wherewithal to meet all obligations and take advantage of market mispricing. An existing $220 million cash balance, available credit line, and current contractual backlog provide ample liquidity.

Atwood Oceanics is a leading offshore driller


FPA Capital

FPA Capital Fund 2nd Quarter 2016 Commentary (link)



First look at Fiserv

Fiserv, Inc., is an American provider of financial services technology. The company’s clients include banks, thrifts, credit unions, securities broker dealers, leasing and finance companies, and retailers, among others. I see Fiserv as a high quality buisiness with good predictability.

This are Fiserv’s Sales (left) and Earnings (right) per Share (provided by


This is the PE Ratio for which FISV was selling for since 2000 (provided by

Fiserv_PE Ratio.PNG

The expected EPS-Range for 2016 is $4.38 to $4.45 per share. The stock is selling for about 105 USD. So the expected PE-Ratio is now at about 24 to 23,6 – which is normal for a company of this quality., the Wikipedia for financial data – free

Today I found a new, free source of financial data that I want to share with you:
SimFin is a crowd-sourcing platform for free high quality fundamental financial data.  Access the SimFin application at
What I like the most about this service is, that they use the original reporting form. Usually free databases provide standardised numbers like Revenue, EBITDA, EBIT and Operating Income. Here you can choose between a standardised version and the original reporting form.
For example they provide the revenue data for Tesla Motors Inc. sorted by “Automotive” and “Services and other” or for GoldmanSachs Group Inc. you get the revenue sorted by  sectors like “Investment banking “, “Commissions and fees  ” and so on … this gives you a better overview about the special character of a business.
The numbers are sorted in Income statement, Balance Sheet and Cash Flow Statement.

Some links:

Berkshire Hathaway (link)
J M Smucker (link)
GoldmanSachs (link)
Nice service: when you like what you see you can download the data as excel spreadsheet!
As always, the problem with every Wikipedia-like database is that everybody can write false articles/data in it. So before making big decisions, please double-check the data. For getting a first overview about a company this service seems perfect. Did I already mentioned that the service is free?
Note: The Service is in Beta stadium. Sometimes the system is not working fast and there is not all data available

Notes on two UK Real Estate ETF’s

If you don’t know much about something, buy the Index.
-old indian saying
This was my first Article about UK Real Estates (link)
The Market has recovered in meantime.
There are 2 ETF’s on the UK Real Estate Market that I have found which are investable for me (german citizen, consorsbank). DB-XTracker doesn’t have an ETF on that special Market segment.
This is  not constituting investment or other advice and is used purely for information purposes. Mostly I use this post to remember myself.

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Is now the Time to invest in London?

It seems that at the moment people think the biggest Brexit-looser will be London and its real estate market (link bloomberg).

Almost 3 billion pounds has been wiped from the market value of the FTSE 350 Real Estate Investment Trust Index since trading started Monday. Land Securities Group Plc, the U.K.’s largest REIT, tumbled 9.1 percent over the period.

Competitors now prepare to take away jobs (and the required living space) from the City (link)

Of course there are uncertainties and other factors (currency risks) but maybe this is an interesting entering Point? The Problem is, I don’t know much about the UK-Real Estate market or UK-REITs. If you have some favorit UK-REIT or something like that, please let me know!

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RealPage is a leading provider of on-demand software solutions for the rental housing industry. RealPage was founded in 1998 with the acquisition of Rent Roll, Inc. Steve Winn is Chairman of the Board & Chief Executive Officer of RealPage Inc – he owns approximately 32,1% of the shares (looks like he is selling shares (link).

RealPage’s customers include Real Estate Investment Trusts (REITS), leading property management companies, fee managers, regionally based owner operators and service providers. Their customers currently include nine of the ten largest multi-family property management companies in the United States. Principally, all of their revenue is earned in the United States so the company has a dependence on US-housing market.

The Stock is now selling for 21,96 USD (Nasdaq)

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Some Links

Despite some facts like “toilet water in australia swirl counter-clockwise” we all can learn something about money from the Simpsons (link)

“The Conservative Income Investor ” talks about the Scrooge McDuck approach in investing (link)

EY Global IPO Barometer 1Q16 (link)

Interview with Warren Buffett’s investment manager Ted Weschler on (link)

After BER, Kassel-Calden, Parchim International and some others, we have a new candidate for the most awkward German Airport Story: A German B-class-Airport, a Chinese Investor and KPMG, what can go wrong? (link)


Video: How The Economic Machine Works by Ray Dalio