The Quick Take Company: Ondine Biomedical (AIM: OBI) — Canadian life-sciences group commercialising Steriwave®, a non-antibiotic nasal photodisinfection therapy Thesis: Asymmetric, catalyst-driven AIM venture bet on the first FDA-approvable nasal decolonisation product, anchored by HCA Healthcare’s strategic alignment as trial partner, equity holder and intended commercial channel; UK adoption via Mölnlycke supplies validation but is […]
MTI Wireless Edge (AIM: MWE) — Initiation of Coverage The Quick Take Company: MTI Wireless Edge (AIM: MWE) — Israeli antenna and defence-comms group Thesis: Net-cash AIM compounder mispriced as a sleepy small-cap; the PSK Wind defence pivot is materially under-appreciated Valuation: ~68p vs my fair value of 100p (≈47% upside) Key risk: […]
Q1 Portfolio Update: Navigating Multiple Compression and Sector Rotation The first quarter was defined by a ruthless recalibration of equity risk premiums. Against a challenging macroeconomic backdrop, capital rotated aggressively out of long-duration growth assets and into businesses offering tangible near-term cash flows, robust balance sheets, and pricing power. The portfolio generated an average total […]
Overall, this is a highly reassuring statement. The company has successfully navigated the complexities of its transformational acquisitions (Peters Surgical and Syntacoll) while maintaining top-line momentum in its legacy portfolio. Excellent cash generation which allows for the reduction of debt. I think this would be acquired by a private equity in the next 1 year […]
For investors hunting for high-quality, cash-generative compounding machines on the AIM market, Warpaint London PLC (AIM: W7L) has long been a standout name. Historically known for its flagship “dupe” cosmetics brands, W7 and Technic, the company has carved out a highly profitable niche by offering premium-style beauty products at mass-market price points. However, as we […]
MS International (MSI) is one of the most delightfully bizarre conglomerates listed on the London Stock Exchange. If you pitched this corporate structure to a modern MBA class, you would be politely asked to leave the room. The Ultimate Anti-Synergy Conglomerate To understand MSI, you first have to embrace its eccentric corporate structure, which appears […]
Another set of disappointing results. Not too surprising given the new CEO(its fairly common to get all the bad news out before he gets into the job). I will be exiting this holding as this is the third time they had a miss. I suspect they will sell off the fish division and I wouldn’t […]
I usually do not comment on companies in which I no longer have holdings, however I felt an inclination for this one given I’ve held it for a couple of years and the results were so shocking. The share price was down close to 35% on the day due to slowdown in revenue and reduction […]
Terrible interim results. Despite the brokers reiterating guidance and talking about the expanded pipeline I have exited my position as I think I got this one wrong. As someone told me before, better to get off the runaway of a plane which will eventually crash. 40% loss on that one since purchase on a weighted […]
Solid results from Mitie this morning. Mostly in line(which in my view is excellent as its a continuation of meaningful compounded growth). 10% revenue growth(4% organic) is very impressive in my opinion. It is also impressive to see that the Marlow revenues in Q3 are in line with where Marlow used to trade prior as […]