Shepherd Neame Research Report
An opportunity to purchase a high quality business at a 60% discount to its tangible book value.
Research Reports
A collection of 17 issues
James Latham Research Report
A centuries old family business, positioned for a period of exceptional growth not reflected in the share price.
Jet2 Research Report
An exceptional leisure travel business trading at a highly attractive valuation given its long-term growth potential.
Secure Trust Bank Research Report
Small UK bank with an excellent lending history, long runway for growth, and dirt-cheap valuation.
DSW Capital Research Report
This mid-market professional services firm with a capital light business model trades at an undemanding FCF multiple, and has plenty of room for growth.
tinyBuild equity raise
tinyBuild has sent out a circular with the details of the equity raise. Regrettably, it looks like the dilution is going to be around 50%.
Important tinyBuild update
Things have taken an unfortunate turn for the worse at tinyBuild. The company is facing a liquidity crisis and looking to raise equity.
TBLD Update
I wrote about tinyBuild back in March, and it's fair to say a lot has happened since then. This is going to be an update covering, amongst other things: recent game releases, titles currently in development, the 2022 annual report, the recent trading update and outlook for 2023,
WBD Update
What follows is a brief update on Warner Bros. Discovery, covering the events that have taken place since I published the original write-up in February.
Max
Launch
On 23 May, WBD released their new DTC product with the name and tag-line: Max - the one to watch. They announced and
Ecora Resources Research Report
Business Overview
Ecora Resources (ECOR) is a royalty and streaming company based in London, and listed on the London Stock Exchange (LSE) with a market capitalisation of ~£300m - at a share price of £1.15. It also has secondary listings on the Toronto Stock Exchange (TSX) in Canada and