Hedge Fund / Buy-side Research: Beijing Airport H1 2026 Review – extraordinary low price.
WATCH HERE 📺 the Link When we look at Beijing Airport, its traffic is not in the top 15 airports in the world, but its capacity ranks among the top 15. There is therefore a very wide disparity between traffic and capacity. We then explore the historical evolution of traffic. Air sorties are slightly down […]
Hedge Fund / Buy-side Research: BABA Q2 2026 Review – Part II SUM OF THE PART VALUATION
WATCH HERE 📺 the Link In this episode we examine Alibaba’s intrinsic value using a detailed sum-of-the-parts approach. We begin with the core e-commerce business, applying a capitalization multiple of approximately 9x while adjusting quarterly EBIT for seasonality and incorporating selected amortization considerations. From there, we estimate the value of Alibaba’s major operating segments, including: […]
Hedge Fund / Buy-side Research: BABA Q2 2026 Review – Part I MESSY REPORTING BUT IMPRESSIVE AI STACK RESULTS , CAPEX IS HIGH THOUGH
WATCH HERE 📺 the Link Alibaba reported another quarter that reinforces its position as one of China’s most strategically important AI and cloud platforms, even if the headline earnings numbers look messy at first glance. Revenue grew 9% year-over-year, while AI-related cloud revenue expanded 45%, with AI products maintaining triple-digit growth for a twelfth consecutive […]
Hedge Fund / Buy-side Research: JD Results Review – Part II SUM OF THE PARTS CALCULATION ON JD.COM
WATCH HERE 📺 the Link We start with the end of the page per page review. Then we go into the calculation of the SOTP valuation. If you have missed the previous episode with the previous page per page you can find it here. https://www.graphcall.com/execute?task=NavigationPage&g=8f7c4250-83ee-45ce-a9a3-4d5e4b36c42e Page 9 A significant decline in marketing expenses is visible, […]
Hedge Fund / Buy-side Research: Benchmarking Imyris with the Pilgangoora Lithium Mine
WATCH HERE 📺 with the Link In this episode on Imerys, we dig further into the value of the lithium mine and try to reconcile the implied price per ton of mineral in the ground at Pilgangoora versus the costs for Imerys. The result is that the mine valuation makes absolutely no sense. We will […]
Hedge Fund / Buy-side Research: Renault European Car Maker: Unexpected Results
WATCH HERE 📺 with the Link In this episode, we look at Renault, the French carmaker, and initiate a long position because the company is nothing like what the market assumes from a quick glance. My initial view was that, while Renault’s cars are attractive and well positioned, the company was probably hostage to Chinese […]
Hedge Fund / Buy-side Research: Beijing Airport traffic post IRAN war is?? UP !!!
WATCH HERE 📺 with the Link We review a bit of airline traffic data from airports in china more specifically Beijing. There is actually growth in traffic, namely in international traffic. The traffic domestically is flattish. The airlines fares are actually falling because they are adding capacity faster than the demand grows, and they are […]
Hedge Fund / Buy-side Research: Imerys SOTP, hidden value of a large Lithium Mine
A Large Lithium mine under an existing Koalin mine operated for 140 years. Hidden Value of a world-class Lithium deposit WATCH 📺 the link HERE Imerys is a decades-old French mining and industrial minerals company that today sits at the intersection of traditional industry and Europe’s strategic push into energy transition materials. While the market […]