Summary of #139 - La constelación de Topicus

00:00:00 - 00:20:00

Topicus is a company that has been growing through acquisitions for a long time, and its stock has remained relatively stable due to its organic growth and lack of need for capital. Recently, the company made several large acquisitions, including a software company that broke away from Pivot Point. This expansion comes with some risks, as the company's smaller acquisitions may not be able to sustain the company's growth. However, the company's decentralized structure and experience with larger companies makes it a formidable competitor.

• 00:00:00 In this week's episode of " iceberg of value ", host Mark Leonard discusses the spin-off of honeywell, Garrett Motion, and their 2-million-dollar deal. Leonard points out that, while Garrett Motion is currently in bankruptcy, it's still worth more than Honeywell due to its assets--primarily its patents and intellectual property. This news isn't good for Honeywell's shareholders, as it typically signals a bad outcome for those invested in a company in a bankruptcy. Another interesting development this week was the offer by Apollo and Srs. William Hill for William Hill's stakes in their respective online gambling businesses.
• 00:05:00 The video discusses how a company's profitability can be affected by a number of factors, including an increase in the margin on sales, rather than an increase in its gross margin. It also discusses how a company's spending on marketing can decrease, leading to a decrease in its gross margin. However, this decrease is offset by a decrease in inventory costs as a result of fewer sales events. The video also discusses how a company's spending on sponsorship can decrease, resulting in a decrease in its gross margin. Finally, the video discusses how a company's profitability can be improved temporarily by reducing its marketing costs.
• 00:10:00 The video discusses the stock market performance of conglomerate Topicus, which has been performing well in recent years. Among the stocks bought by Topicus are those of companies with good and mediocre fundamentals, which helps the company to maintain steadiness in its performance. One of the criticisms of Topicus is that its focus on buying good-quality companies often leads to higher purchase prices than those of value stocks fund Jacques Henri D. However, the company has also been successful in making money even when its acquisitions destroy value in other companies. This is due to Topicus' ability to rapidly create value through organic growth, something that Jacques Henri D. has not been able to do. Overall, Topicus is a good company that has been growing through acquisitions for a long time, and its stock has remained relatively stable due to its organic growth and lack of need for capital. This is because, while Jacques Henri D. grows its businesses through internal expansion, Topicus more often purchases established, high-quality software companies.
• 00:15:00 The video discusses the growth of Topicus, a company that makes railway components, by acquisitions. As the company grows, it becomes more difficult to make acquisitions, and the growth of the company often requires the acquisition of larger companies. For example, Topicus is the world's leading manufacturer of braking systems for trains, and it also owns a majority stake in General Electric's rail division. Recently, Topicus made several large acquisitions, including a software company that broke away from Pivot Point, and it is now looking to grow even further. This expansion comes with some risks, as the company's smaller acquisitions may not be able to sustain the company's growth. However, the company's decentralized structure and experience with larger companies makes it a formidable competitor.
• 00:20:00 The original spirit of topics seems to be different from the current edition, as organic growth is mentioned. Topical growth can be maintained or even increased when taught to dogs as new tricks, so it may be a good choice for a spin-off company if it aligns with their philosophy. The European division of constellation will join forces with tópicos, and share the profits among shareholders. The original owners will keep a share of the company, which could be a large, profitable company with 600 million dollars in sales. While buying constellation shares now may be a special situation, as the spin-off of topics will bring value to the public, a medium and long-term view is needed to judge the prices at which topics cotizes. Preferred shareholders have a nominal value of 19 euros, but I'm sure the shares will trade at much higher prices.