I’m personally a fan of Somero - worldwide market leader in concrete screeding, absolutely essential in non-residential construction such as warehouses and data centres, and has consistently made 30% RoE with no debt.
Great post! Fun to see Solitron make a list. Very neat niche business with new key owner/management making big changes and first acquisition recently. We have written up a few times and remain long.
Great post. I’m in Sweden and Invisio has certainly caught my eye. Any thoughts on valuation for these hidden monopolies? When if ever is it smart to overpay or get in at high valuations? Invisio for example is sky high.
/Yeah, it's pretty much on the expensive side. I don't like to overpay at all. I'll be publishing some write-ups in the coming days with ideas on where I see do undervaluation.
Mercury Marine, a subsidiary of Brunswick is an example and they are growing share against #2 every year in technological advancements and in important sub-segments of an already niche market
To seed, build, and nurture timeless, intangible human capitals — such as resilience, trust, evolution, fulfilment, quality, peace, patience, discipline, relationships and conviction — in order to elevate human judgment, deepen relationships, and restore sacred trusteeship and stewardship of long-term firm value across generations.
A refreshing poetic take on our business world and capitalism.
A reflection on why today’s capital architectures—PE, VC, Hedge funds, SPAC, Alt funds, Rollups—mostly fail to build and nuture what time can trust.
Built to Be Left.
A quiet anatomy of extraction, abandonment, and the collapse of stewardship.
"Principal-Agent Risk is not a flaw in the system.
No, the valuation is absurd but the market opportunity is so huge I don’t think people can wrap their head around it. It is both integration layer, operating system and application layer for AI with ZERO competition. Certainly it could get cut in half but I would like to simply by more. I have owned it since IPO. They also have the potential to deprecate most of the corporate software application stack.
I’m personally a fan of Somero - worldwide market leader in concrete screeding, absolutely essential in non-residential construction such as warehouses and data centres, and has consistently made 30% RoE with no debt.
Love it-what a generous gift to give us a spreadsheet with this analysis. Thumbs up
Thanks Ian
Great post! Fun to see Solitron make a list. Very neat niche business with new key owner/management making big changes and first acquisition recently. We have written up a few times and remain long.
Thanks!! Adding the link here for those interested in following up with that one: https://www.canadianvalueinvestors.com/p/solitron-devices-inc-otcpksodi-reading?utm_source=publication-search
no, it is a critical asset to the enterprise Brunswick Group which is worthwhile case study
Great post. I’m in Sweden and Invisio has certainly caught my eye. Any thoughts on valuation for these hidden monopolies? When if ever is it smart to overpay or get in at high valuations? Invisio for example is sky high.
/Yeah, it's pretty much on the expensive side. I don't like to overpay at all. I'll be publishing some write-ups in the coming days with ideas on where I see do undervaluation.
Mercury Marine, a subsidiary of Brunswick is an example and they are growing share against #2 every year in technological advancements and in important sub-segments of an already niche market
any plans to spin it off soon?
This must be one of, if not the, most valuable stacks ever posted! Thank you so much Polymath! This stack is indeed deeply Polymathing!
Thank you for the kind words rennos :)
Great post. Thanks for sharing your shortlist of stealth monopolies.
Hello there,
Huge Respect for your work!
New here. No readers Yet.
But the work has waited long to be spoken.
Its truths have roots older than this platform.
My Sub-stack Purpose
To seed, build, and nurture timeless, intangible human capitals — such as resilience, trust, evolution, fulfilment, quality, peace, patience, discipline, relationships and conviction — in order to elevate human judgment, deepen relationships, and restore sacred trusteeship and stewardship of long-term firm value across generations.
A refreshing poetic take on our business world and capitalism.
A reflection on why today’s capital architectures—PE, VC, Hedge funds, SPAC, Alt funds, Rollups—mostly fail to build and nuture what time can trust.
Built to Be Left.
A quiet anatomy of extraction, abandonment, and the collapse of stewardship.
"Principal-Agent Risk is not a flaw in the system.
It is the system’s operating principle”
Experience first. Return if it speaks to you.
- The Silent Treasury
https://tinyurl.com/48m97w5e
Seemingly too expensive to buy but the one tech company that ticks all boxes is PLTR
thanks J J, do you think PLTR is only "optically" expensive?
No, the valuation is absurd but the market opportunity is so huge I don’t think people can wrap their head around it. It is both integration layer, operating system and application layer for AI with ZERO competition. Certainly it could get cut in half but I would like to simply by more. I have owned it since IPO. They also have the potential to deprecate most of the corporate software application stack.
wow thanks 🙏
Do you think they have a good shot at 10x-ing their earnings over the next 5 years?
Yes