Enel Chile
The Andes Mountains Overflowing With Energy And Money
KISS (Keep It Simple Stupid)
At times, I realize that investors, and especially value investors, like to make it more complicated than needed. This stems from a few conflating factors:
If it is complicated, it explains why the market has “missed” it.
It makes us feel smart to have figured it out.
By definition, value investing is a contrarian game.
This goes double for investment writers. People in my position may not only be driven by the thrill of chasing interesting ideas, but they also feel like they need to give their readers something truly unique, that no one else has ever covered.
On average, this has paid off for my readers, including with rather obscure ideas like Georgia Capital, for example, up more than 50% since publication.
Investing in the Caucasus: Georgia Capital
If there is one Eurasian region that has a dubious reputation for investors, beyond the Balkans, it is the Caucasus. The home of not-so-lovely places like Chechnya, Dagestan, and most recently a brutal war between Armenia and Azerbaijan that might still turn into outright genocide.
But this also means sometimes not covering rather simple and boring options, with nothing hard to understand about the business.
Sometimes, a good price and no special event is all you need.
This will make for a slightly shorter report than usual, but hopefully an equally good stock pick.
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