New CFO is doing a good job so far in Trubridge 🍀

To reconsider CSI as investment properly, one needs to find the opposite. Find a software company claiming that it will grow at high rates in specialized software area, and then judge it objectively as an investment. Like a public version of Tekion. Need to do this...

I think I just ran out of internal questions to fuel either my optimistic or pessimistic expectations related to the Constellation Software 🌌🍀

Trubridge turning around (cash on cash returns based on TIKR data). On a way of becoming a stable deleveraged 50 million FCF business. Thank you, Andy 🍕🏔️, for sharing this way of looking at the cash flow statements (with a few modifications of my own). 🍀

Business in decay

Tasmea acquires

This was a bad timing. In case you follow me in any investment, keep that in mind. I still think price was fair at the time. Still, regret is there...

One of my favourite uses of our robot friends is to discover a proxy for a price a private owner would pay for a certain business. I wonder how long before this becomes mainstream and markets go wild(er). 🍀

oh my

Pinetree adding a bit more yesterday

Soon to be deleveraged, almost tax free for considerable future, business generating 6 million cash per year, sold for less then 60 million. Quorum Information Technologies

Sold CNOOC. The price was fair.

Reading up on some special situations and White Mountains keep appearing.

This got me searching. GE is proof that capital cannot be that easily created or destroyed as it can be rearranged (talk about physics envy). Terminal value growth estimates shouldn't be much more optimistic than the faith of post Welch GE.

Shareholders are an ungratefully crowd. This was probably last earnings call made by Maury Marks, 30 year as CEO of Quorum...

In a plain sight