7 Comments
User's avatar
Forsi's avatar

Why do you think Orsero is so cheap? It is not touched by tariffs

Expand full comment
smallvalue's avatar

Hi, thanks for your comment! I think it's mainly due to the sector they're in, the illiquidity, the fact that it's a small company, and that it's European. I hope the market will recognise its value in the future. As you said, they're not directly affected by tariffs, but they could be impacted by inflation.

Expand full comment
David's avatar

It's nice to read that someone else owns shares in Sanlorenzo. Did you manage to get included in the investor newsletter? Unfortunately, they never responded to me....

Sanlorenzo's buybacks have even increased again. The directors have bought shares worth €5.77 million within the last 90 days, and the company itself bought back shares worth €3.6 million within the last week.

At these valuation levels, it would actually be more value-creating if Sanlorenzo canceled the dividend and prioritized buybacks.

Expand full comment
smallvalue's avatar

Thanks for your comment! Yes, it's a quality company trading at a pretty low multiple. And yes, I'm included in Sanlorenzo's investor news.

Expand full comment
David's avatar

How did you get on their mailing list?

Expand full comment
Tyler Pellom's avatar

Really great, David. Toya is very interesting!

Expand full comment
smallvalue's avatar

Thanks, Tyler! Yes, Toya is pretty interesting. Waiting for the buyback and a better economic environment, particularly in Poland.

Expand full comment