Alatus Capital
Notes from the Value Investing Congress Twitter feed.
Richard Vogel of Alatus Capital
- Looking for 8-10% free cash flow yields with an “inflection point” (new market, product, etc).
- European countries are in a sea of red ink: all have budget deficits, except for Switzerland.
- GDP growth in Europe has been negligible in past 10 years. Alatus Capital did much better. Good stock picking really adds value.
- Valora – Swiss based company. Switzerland has highest density of rails of any place in the world. Estimated FCF yield of 11%.
- Largest kiosk operator in Switzerland and Luxembourg with 1,175 outlets. New management is restructuring and improving margins.
