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Got an exciting off-the-map stock idea? Send it to me. If I end up writing it up, you'll get credit for the idea and a free one-year subscription. Email me at oliver@sungcap.com.

Research

SUTL Enterprise is cheap but not as cheap as you think
1.1x book and ~2x EV/EBIT for a locational monopoly in Singapore.
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Kelly Partners
On a roll rolling up accounting firms while the share price has rolled off a cliff.
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The CEO quit and the stock tanked 24% on the best day in the company’s 20-year history
One of the most boring business models in Europe is one of the ones I love the most.
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Japan’s most mispriced compounder
Recurring revenue collected years upfront, millions of users who have never heard of it, and a growth story few are underwriting.
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Versant is a value trap
Sorry, Einhorn.
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All BARK, (probably) no bite
A take-private fight with a 47% spread in play.
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A closed-end investment co at ~30% upside to NAV quietly preparing to go private
...probably very soon.
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The circus at Auction Technology Group
A scaled two-sided marketplace, a vulnerable board, and a fight that probably isn’t over.
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A take-private offer where intent, timing, and valuation all point in the same direction
Here are five questions I like to ask whenever a take-private offer shows up...
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F.I.L.A.
Not so sure.
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Karelia Tobacco
Two reasons why this is interesting now.
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Danish bank consolidation (update)
The landscape is shrinking as another merger just hit the tapes.
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Green Landscaping lessons
A quick (premium) update.
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The $1bn stake nobody saw
What happens when a footnote goes parabolic. The market still hasn't connected the dots.
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Shutterstock/Getty update
...and another absurd opportunity.
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A little insurance company at an understated 0.6x book, double-digit BVPS growth for a decade, conservatively financed
Company is in runoff and is buying back every drop of share it can find.
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Is Röko a Lifco all over again?
The most successful executive capital allocators in history naturally get to a point in their careers when...
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Net net with 61% upside to NCAV, 4x earnings, 10% dividend yield
This stock got on my radar when massive trading volume showed accumulation.
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Shutterstock/Getty merger
28.3% deal spread and potential 95% IRR.
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Deswell Industries
How to size up a net net.
  • Sample writeup
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