TheValueHunter

 Betsson - A Swedish Value Play Betsson AB, currently trading under the ticker: BETS-B is a swedish company that engages in the online gaming business, primarily in Scandinavia, Western Europe and Easter Europe through its subsidiaries. It currently offers poker, casino, sportsbook, scratch cards, bingo and other games - having a wide and varied offering to its customers. Betssons offers its services through known names such as Betsafe, Betsson, Casino DK, Casino Euro and Rizk, and has recently acquired Inkabet and bought a 28% stake in Slapshot Media to position itself in the Canadian and South-American market to capture future growth.  Personally, I prefer organic growth as opposed to acquisitions, as acquisitions often lead to large and unneccessary premiums and goodwill, with dissapointing results to show for. With that said, Betsson's management has an impressive track record of profitable and efficient capital allocation. In 2020 return on invested capital landed on a st...

Reach Subsea - A Norwegian Stock Trading At a Highly Attractive Level Reach Subsea is a norwegian provider of IMR, ROV and other services for the maintenance of oil-riggs, offshore windmills and freights, currently trading at the Oslo Stock Exchange under the ticker: REACH. The oil- and gass industry, as well as most companies associated with that industry have been underappreciated in the market for some time now. Reach Subsea falls into that category of companies, currently trading at an enterprise value/ebit of 2,83. Solely looking at a p/e ratio, the low levels could potentially be defended by high debt levels and other weaknesses, but after looking at the enterprise value/ebit (taking all debt and cash on the company's balance sheet into account), the company looks both financially healthy and highly undervalued. The low multiple peeked my interest, and I chose a conservative discounted cash flow analysis to further calculate the company's intrinsic value. I've used Re...