Schopenhauer Capital

@rssndv1 Haha always a fan of disasters

@SchopenhauerCap Are you still invested in this disaster

Global Fashion Group $GFG just announced a €3M share buyback — small, but meaningful for a company trading at €70M market cap with €143M net cash and 60% controlled by 2 investors eqs-news.com/news/ad-hoc/gl…

The iconic is where the value is at in my opinion. Let me know if you know any Australian investor.

$GFG management now has skin in the game. 9.4M options under the new Value Creation Plan — strikes at €0.25, €0.30, €0.60 and €1.00. Vests over time and 75% acceleration with exit. Incentives finally aligned with shareholders.

$JAKK’s back! :)

@tomicki That’s great! Thanks!

Bought a bit of $EDEN (Edenred) to force myself to do some work on it. I use it with my business, where it essentially has a monopoly. Any thoughts or work I should read? Thanks

@david_katunaric Hahaha great to meet you in person David!! Looking forward to catching up again in the near future!

Met with @SchopenhauerCap expecting Aperols, but he ended showing me $RCS.MI HQ instead Never meeting Italians again.

$JAKK reported Q4 results that were below my expectations, though higher than street estimates ($3.79 vs. my $4.00-4.15 expectation). I guess, in hindsight, I got a little too excited. especially since a few million dollars of marketing swung the EPS massively. Company is not flooding the market with toys and these movies are going to set-up some nice orders at retail for all of 2025. The company has now started returning capital to shareholders with a $1/year dividend. Stock is indicating down aftermarket after a massive run-up since mid-January (+26%). People always seem to hate Jakks in Q4! The setup for the next three years remains phenomenal, and the company is set for multi-year growth, including 2025. Valuation remains undemanding, and lots of catalysts (Hopfully as soon as Q1 2025)

@depr248 Hahahaha.. yes!

@SchopenhauerCap If they don't do something stupid with their cash I have them trading at 0.0x 2027 EBITDA.

Amazing article on $JAKK ! Absolutely worth the read!

@depr248 What are your main reasons ?

@SchopenhauerCap I've been long again for awhile, but for way different reasons than this article. I think the ABG deal is terrible, every time JAKK tries something other than toys they fail spectacularly.

@Elementcapl Hahaha… definitely not the best choice of ticker 😅

@SchopenhauerCap The ticker indicates the quality of the biz

Any thoughts on $SHCO (Soho House) trading at $7.20 after having received an offer at $9.00 ?

@NapoleonChagnon Agreed on Tinexta!

$TNXT.MI Interesting play while $DGV is in the floor with the ten-count and ABF is waiting for the French programs to resume; if that takes longer than expected the variable part payed will be smaller as well.

📢ANNOUNCEMENT❗️ A few months ago, I left my equity analyst job to fully dedicate myself to The Mikro Kap. That wasn’t an easy decision, but it felt right. After two years of free analyses, all new content will now be behind a paywall. Here’s my offer to you: (link in bio)

@clintparmsway @gar10259 60-70M

@gar10259 Yes I was being majorly conservative because to be honest I wasn’t quite sure how to estimate it past that. What do you expect?

I wanted to understand why $JAKK cash only increased 5m last Q despite $52m net income. Wow - they’ve 160m in accounts receivable! $JAKK used their healthier balance sheet (no debt) position to agree more favourable terms with clients. $40m+ cash YE likely. Dividend time. Bid.

@GHadjia Do you know why operating income adjustments are so large for mg Asia and e&e?

$MTCH new segment reporting splits out operating income for Tinder, Hinge, and others. Hinge growing adj. operating income +65% YoY. 52.7% incremental mgns on Hinge suggest there's a ton of headroom to expand mgns and will be an increasingly important profit contributor going fwd

@SI20209 Their evergreen business (you can find more info on this in the earnings slides) + hopefully ABG

@SchopenhauerCap What has changed that makes it more predictable/consistent than it has been historically?

$jakk insane results! $70M adj ebitda in an average movie year. We should be at $80M cash by year end (no debt). Trading at 3x ebitda 😅 It should become clear that the business is a lot more predictable that people perceive it to be. 25 and 26 look great with much more content

$jakk I believe that with Rosen’s representation on the board, we should see a dividend getting started by or at Q4 results!