[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.] #  @abroninvestor Andrew Brown Dynastic Investor ๐ฆ๐บ๐ด๓ ง๓ ข๓ ฅ๓ ฎ๓ ง๓ ฟ Andrew Brown Dynastic Investor ๐ฆ๐บ๐ด๓ ง๓ ข๓ ฅ๓ ฎ๓ ง๓ ฟ posts on X about $exoas, debt, $race, iveco the most. They currently have XXXXX followers and 1992 posts still getting attention that total XXX engagements in the last XX hours. ### Engagements: XXX [#](/creator/twitter::303643375/interactions)  - X Week XXXXX -XX% - X Month XXXXXX +76% - X Months XXXXXXX -XX% - X Year XXXXXXX -XX% ### Mentions: XX [#](/creator/twitter::303643375/posts_active)  - X Week XX -XX% - X Month XXX -XX% - X Months XXX -XXXX% - X Year XXX +11% ### Followers: XXXXX [#](/creator/twitter::303643375/followers)  - X Week XXXXX +0.15% - X Month XXXXX +0.63% - X Months XXXXX +5.20% - X Year XXXXX +7.80% ### CreatorRank: XXXXXXXXX [#](/creator/twitter::303643375/influencer_rank)  ### Social Influence [#](/creator/twitter::303643375/influence) --- **Social category influence** [finance](/list/finance) [stocks](/list/stocks) [automotive brands](/list/automotive-brands) [luxury brands](/list/luxury-brands) [countries](/list/countries) **Social topic influence** [$exoas](/topic/$exoas) #5, [debt](/topic/debt) #1988, [$race](/topic/$race) #1732, [iveco](/topic/iveco) #95, [$wtcax](/topic/$wtcax), [$manu](/topic/$manu) #4, [$hmcax](/topic/$hmcax) #1, [$wowax](/topic/$wowax), [$virt](/topic/$virt) #29, [has been](/topic/has-been) **Top assets mentioned** [Ferrari N.V. (RACE)](/topic/$race) [MANCHESTER UNITED PLC (MANU)](/topic/$manu) [Virtu Financial, Inc. Class A (VIRT)](/topic/$virt) [Carlyle Group, Inc. (CG)](/topic/$cg) [Carvana Co. (CVNA)](/topic/$cvna) [Carlisle Companies, Inc. (CSL)](/topic/$csl) [Fair Isaac, Corp. (FICO)](/topic/$fico) [CNH INDUSTRIAL N.V. (CNH)](/topic/$cnh) ### Top Social Posts [#](/creator/twitter::303643375/posts) --- Top posts by engagements in the last XX hours "2nd July: Citibank release gushing report on $APT.AX with massively upgraded price target ($27.10 up to $64.25) & big EBITDA/margin growth. 7th July: Citi on ticket to raise $1bn in various ways. Absolutely no connection whatever" [X Link](https://x.com/abroninvestor/status/1280281285114466305) [@abroninvestor](/creator/x/abroninvestor) 2020-07-06T23:23Z 7377 followers, XXX engagements "$WTC.AX more accounting chicanery. $75m of capitalised software. EV/"proper CFbased EBITDA" = 80.1x FY21 ($8.7m of rent down the bottom as well). This stock is just a well orchestrated short squeeze" [X Link](https://x.com/abroninvestor/status/1430311923665440770) [@abroninvestor](/creator/x/abroninvestor) 2021-08-24T23:31Z 7377 followers, XX engagements "$VIV.PA thread why is it so interesting but how reliant on football rights is it In 2024 investors hope - but not guaranteed - that the "controllers" (define how you like but probably has the surname "Bollor") - start to clean up the structure in an appropriate fashion. 1/7" [X Link](https://x.com/abroninvestor/status/1731913927481504063) [@abroninvestor](/creator/x/abroninvestor) 2023-12-05T05:50Z 7377 followers, 8978 engagements "BTW until $EDV.AX was spun if you read the article you understand why $COL.AX got utterly left behind on liquor by $WOW.AX Aldi are way smarter than people imagine in this area" [X Link](https://x.com/abroninvestor/status/1766395663166632087) [@abroninvestor](/creator/x/abroninvestor) 2024-03-09T09:28Z 7377 followers, 1337 engagements "If there was a more singularly useless earnings call in recent times than $GQG.AX - NOT because of the company - but the "I'm a sell side analyst and I have to show I'm on the call by asking a stupid question" I must have missed it. Half an hour of my day on Q&A I won't get back. The folks at the company must bang their heads against a wall off camera. Shares are at a fascinating juncture but of course the IPO in 2021 was excessively priced (to the benefit of $PAC.AX) FUM doubled since shares are lower as "proper" P/E adjusting out performance fees has halved. Value trap or great opportunity" [X Link](https://x.com/abroninvestor/status/1958696740540096719) [@abroninvestor](/creator/x/abroninvestor) 2025-08-22T01:04Z 7376 followers, 2511 engagements "@TheLongHappy You wouldn't - which is why $VIRT has been a core holding for me" [X Link](https://x.com/abroninvestor/status/1963538363983503372) [@abroninvestor](/creator/x/abroninvestor) 2025-09-04T09:43Z 7376 followers, XXX engagements "$MANU The world's ugliest cash flow statement. No wonder the shares fell 7%+ NET player spend over X years is 1.2billion (that's out the door exclduing what they still owe) and net debt despite Sir Jim is 551m - after another 130million drawdown and despite 238mn of new equity over two years. That's effectively been urinated away. The catch up in capex is notable & the stadium is yet to come. Ignore the rubbish about "adjusted EBITDA" - football accounting is about CASH. This is pitiful when you look at the quality sponsors and revenues" [X Link](https://x.com/abroninvestor/status/1968481092832477225) [@abroninvestor](/creator/x/abroninvestor) 2025-09-18T01:03Z 7377 followers, 1811 engagements "$EXO.AS Agnelli's proceeding slowly but surely - NAV+dividends = 14%pa since 2015. More opaque with more unlisted but $RACE down to XX% of gross NAV. If they do nothing will be pro-forma debt free post Iveco. Another buyback down the track - if you plot NAV/share versus net NAV the gap is perceptibly wide illustrating capital management. Estimated NAV/share at last night = XXX so XX% discount. Crazy that it is the same as some of the detritus of Euro holdcos in France and Belgium. Long" [X Link](https://x.com/abroninvestor/status/1968519931621949444) [@abroninvestor](/creator/x/abroninvestor) 2025-09-18T03:38Z 7376 followers, 3734 engagements "Sorry for the late reply. Bear case is that they haven't grown like the unlisted competition and everyone knows a lot about them as the only listed US player in liquidity provision. Only one listed peer $FLOW.AS and analsysts don't cover $VIRT that well (its a sort of competitor). Perception of excessively volatile earnings. All listed players in the adjacent inter dealer broker space are low P/E stocks - perception of blow-ups. $VIRT bought Knight Capital after it exploded on a single day. I have a core holding in the shares and will put up with volatility. Eventually I believe the company" [X Link](https://x.com/abroninvestor/status/1971333997105193245) [@abroninvestor](/creator/x/abroninvestor) 2025-09-25T22:00Z 7376 followers, XXX engagements "$EXO.AS the biggest positive change in value for Exor between Dec XX - XX June XX was Iveco $IVG.MI 541million then Ferrari $RACE 378million. So what was #3 at an estimated 147million Unless you know where to look you'll never get it" [X Link](https://x.com/abroninvestor/status/1971840466158289354) [@abroninvestor](/creator/x/abroninvestor) 2025-09-27T07:32Z 7376 followers, 1548 engagements "Amazingly something as bizarre as $CVNA was the third biggest individual contributor to $EXO.AS increase in value in first six months of 2025. Dont think theres any reference to it" [X Link](https://x.com/abroninvestor/status/1971917154280001996) [@abroninvestor](/creator/x/abroninvestor) 2025-09-27T12:37Z 7375 followers, 1449 engagements "The @East72Dynasty quarterly report to September is now out. Comments on $BOL.PA a lengthy piece on $EXO.AS and a more optimistic take on $UHR.SW plus the very definition of a value trap: $MANU" [X Link](https://x.com/abroninvestor/status/1974982834864750693) [@abroninvestor](/creator/x/abroninvestor) 2025-10-05T23:39Z 7375 followers, 5930 engagements "$EXO.AS after the fall in $RACE nearly matched by Exor updated NAV is XXXXXX at full market value of which XXX is listed equities (see through for $BIM.PA) XXXXX for unlisted XXXX for other XXXXX for effective cash including Iveco and (18.70) for debt and capitalised costs. XXXX% discount at prevailing XX stock price. Long" [X Link](https://x.com/abroninvestor/status/1976428205440630841) [@abroninvestor](/creator/x/abroninvestor) 2025-10-09T23:22Z 7376 followers, 1814 engagements "re $EXO.AS some of the GROTESQUE (and lazy) mis-reporting on the proposed Lady Rothschild divestment of her stake in @TheEconomist - looking at you @business and @Reuters and as for these @axios ๐คก๐คก- She owns XX% of ONE CLASS of shares not XX% of the business. That class of shares has strong voting rights but her stake has a XXXX% ECONOMIC interest in the business which IS worth 650million. Based on what Exor paid for their equivalent 1.26million "B" shares in 2015 (59.5m or XXXXX a share) she might get 12million ish (YES TWELVE) which is all really for the voting rights) not the crazy" [X Link](https://x.com/abroninvestor/status/1976432702908924385) [@abroninvestor](/creator/x/abroninvestor) 2025-10-09T23:40Z 7375 followers, 1505 engagements "@dlitten4 Discount is still XX% on that basis. You could also argue that via Exor you are buying RACE at X since there's 100net per share (before last night) of OTHER assets against an XX price. Why I am a very happy holder of $EXO.AS" [X Link](https://x.com/abroninvestor/status/1976800388050567548) [@abroninvestor](/creator/x/abroninvestor) 2025-10-11T00:01Z 7375 followers, XXX engagements "$RACE $EXO.AS dont want to be paying Horner with my $ John thank you very much. @IanSlaterPhoto1" [X Link](https://x.com/abroninvestor/status/1979107964981243915) [@abroninvestor](/creator/x/abroninvestor) 2025-10-17T08:51Z 7377 followers, 2029 engagements "Ever since I wrote about $MANU as a value trap the team has started playing better football (Sunday was really good) winning & the stock is up XX% on sketchy takeover speculation. ๐ค๐ค" [X Link](https://x.com/abroninvestor/status/1980452117166121024) [@abroninvestor](/creator/x/abroninvestor) 2025-10-21T01:52Z 7377 followers, 1397 engagements "Still a lot of 'playing the woman' in the $WTC.AX response. Not sure they hit the numbers head on which is essential in dealing with these reports" [X Link](https://x.com/abroninvestor/status/1185443453716418560) [@abroninvestor](/creator/x/abroninvestor) 2019-10-19T06:31Z 7376 followers, XX engagements "We've hear this stuff from Chanticleer about nasty offshore short sellers before. Didn't work out too well. Same arguments on $WTC.AX basically. Yeah sorry low blow but you think Tony would learn" [X Link](https://x.com/abroninvestor/status/1186487424056082432) [@abroninvestor](/creator/x/abroninvestor) 2019-10-22T03:40Z 7377 followers, XX engagements "Hope you are enjoying paying US$950million to be the backstop stooge between a bunch of fully secured rapacious financiers and some punters with low credit ratings. No wonder the merchants have to fund this thing because the "factoring" balance isn't high enough. $SZL.AX" [X Link](https://x.com/abroninvestor/status/1321945408042536960) [@abroninvestor](/creator/x/abroninvestor) 2020-10-29T22:42Z 7376 followers, XX engagements "@fmcbill @ignore89039500 Very low profile bloke indeed $QAN.AX $WDS.AX + aerial๐" [X Link](https://x.com/abroninvestor/status/1633239560443559936) [@abroninvestor](/creator/x/abroninvestor) 2023-03-07T22:53Z 7376 followers, XXX engagements "Just about conquered one of the great intellectual challenges set by mad German scientists engineers & mathematicians: deconsolidate $VOW.DE A lot of hidden away related party disclosures but what's a few billion between friends. Panadol time" [X Link](https://x.com/abroninvestor/status/1635819074063306752) [@abroninvestor](/creator/x/abroninvestor) 2023-03-15T01:43Z 7376 followers, XXX engagements "For one #taylorswiftconcert ticket you can buy X $UMG.AS shares (or XX $BOL.PA) which are cheaper" [X Link](https://x.com/abroninvestor/status/1673968944515026945) [@abroninvestor](/creator/x/abroninvestor) 2023-06-28T08:17Z 7376 followers, 1478 engagements "@MichaelGielkens @onebeggar @castrobeiras Coolblue was a debacle - announced in Feb XX & canned in November - too way too long. Maybe Pro-Gamers has synergy with furniture ๐คฃ๐คฃ TBF the Ukraine invasion didn't help there. I am happy they bought out $BOKA.AS & wish they had been quick on the ball & tried $VPK.AS" [X Link](https://x.com/abroninvestor/status/1682221730222448641) [@abroninvestor](/creator/x/abroninvestor) 2023-07-21T02:51Z 7372 followers, XXX engagements "@puppyeh1 Don't think you're wrong but the big change is that API is now controlled by Wesfarmers and $WOW.AX keep wanting in (but screwing up). The whole CW/ $HMC.AX super connected & media glowing" [X Link](https://x.com/abroninvestor/status/1734013054894141570) [@abroninvestor](/creator/x/abroninvestor) 2023-12-11T00:51Z 7377 followers, XXX engagements "An interesting piece. I was on the board of Cheviot Bridge which helped pioneer this business when BWS was buying "crap" from producers cheaply and sullying the Woolies brand. In the mid 2000's Dan's/BWS especially got real about it with quality & wines made especially for them (CowBombie was an early one) The game changed massively when Woolies bought Dorrien Estate & Vinpac to make it themselves and clearly moved further with brand acquisitions. IMHO analysts still don't understand Pinnacle & how good it is aiding margins. Accolade was a stupid acquisition by PE who missed the change in the" [X Link](https://x.com/abroninvestor/status/1766395148974637266) [@abroninvestor](/creator/x/abroninvestor) 2024-03-09T09:26Z 7376 followers, 3141 engagements "Well. At the other end of the "baffle them with BS" spectrum to $ANZ.AX is the latest caravan presentation to the sophisticates at $MQG.AX Don't think $LIC.AX would dare attempt an ANZ style effort. Might tell too much.Too many degrees in "media and communications" methinks" [X Link](https://x.com/abroninvestor/status/1787628032913719587) [@abroninvestor](/creator/x/abroninvestor) 2024-05-06T23:38Z 7377 followers, 1804 engagements "@ignore89039500 Not sure how easy it is to get rid of $MFG.AX The fact Formica started advertising the fact MFG was the only way to invest in BJ suggests there had been resisted overtures by the Greed Factory to extract them in favour of a more compatible partner/"cooler model"" [X Link](https://x.com/abroninvestor/status/1915176559054602695) [@abroninvestor](/creator/x/abroninvestor) 2025-04-23T22:50Z 7377 followers, XXX engagements "$HAL.AS $VPK.AS Pending IPO of Aegis Terminal in India. VPK owns XXXX% falling to 42.1%. Will value residual holding at 1112million cf VPK market cap of 4.6billion but VPK taking no equity off table it appears. You have to delve very deep in VPK annual report to find a mention. Carrying value of JV/associate is miniscule. $HAL.AS own XX% of VPK. VPK P/E 13x. Acknowledge its financial engineering but allied to more transparent disclosure in HAL annual report maybe the "international men of mystery" are getting a message" [X Link](https://x.com/abroninvestor/status/1926502192267092311) [@abroninvestor](/creator/x/abroninvestor) 2025-05-25T04:54Z 7377 followers, 5014 engagements "$SOL.AX $BKW.AX On XX April 1969 W.K. Dawes placed 1million of his company's shares at $XX to an investor who reciprocated by placing 1m of their shares at $XX with Dawes. These two blokes are the reason Dawes did so. Only XX years to unravel. Wonders never cease (Dawes got the better end of the deal in my view)" [X Link](https://x.com/abroninvestor/status/1929388676058096123) [@abroninvestor](/creator/x/abroninvestor) 2025-06-02T04:04Z 7376 followers, 1619 engagements "With the $SOL.AX $BKW.AX cross shareholding shortly to be laid to rest I had reason to revisit Jagot J 2017 judgement against $PPT.AX minority oppression case with its lengthy exposition of the lead up to the X December 2011 Souls AGM. One of the great AGM's as this correspondent to the @FinancialReview opined" [X Link](https://x.com/abroninvestor/status/1933689963822166148) [@abroninvestor](/creator/x/abroninvestor) 2025-06-14T00:56Z 7376 followers, 1058 engagements "Some of the unwind of the passive madness in Australia's equity market has been very pronounced over the course of 2025. Some of that was accompanied by "it's a great company forget the price set and forget". The $FICO idea if you will. You've seen $CSL yesterday and a few others. One of Australia's best managed best culture businesses reports Monday but is currently trapped in deep cyclical (structural) headwinds in its two key markets and the shares have HALVED in the past 11months. Why because when you pay 26x EV/peak EBITA (for the time being) for a plumbing distributor and EBITA is now" [X Link](https://x.com/abroninvestor/status/1957955255020449849) [@abroninvestor](/creator/x/abroninvestor) 2025-08-19T23:58Z 7376 followers, 2814 engagements "$HAL.AS The German prothesis manufacturer Ottobock is listing to help repay Carlyle Group $CG and others loan to Nader Holding the private parent company (believe $MQG.AX involved here too) of 1.1billion (PIK) drawn in 2024 to buy back XX% of Ottobock from $EQT.ST about 582m pre fees going to Nader. Assuming no debt in Ottobock (NOT THE CASE - no financials for Ottobock SE & Co. KGaA filed since 2021) so we have to await the prospectus for an EV/EBITDA figure. But it will be a minimum 12.5x . $HAL.AS carry their XXXX% of Auxilium (about a quarter the size) at EV/EBITDA of 3.9x - just a minor" [X Link](https://x.com/abroninvestor/status/1972564004733366545) [@abroninvestor](/creator/x/abroninvestor) 2025-09-29T07:28Z 7377 followers, 3893 engagements "No more than saying that $CNH is really challenged for a long period under Trump policies & with its debt it will really struggle. Stellaris is valued at cash backing in the adjusted model. Its just a way of saying - the market hates these two companies so lets properly impair them. No argument with your comments - its just to remove them from the equation as a factor" [X Link](https://x.com/abroninvestor/status/1975921264578453506) [@abroninvestor](/creator/x/abroninvestor) 2025-10-08T13:48Z 7377 followers, XXX engagements "@JeffWeniger Mid 30's multiples (except $CG) of business value (Cap - NTA) to FRE plus hefty % of either fee earnings fum or total fum. Just hit an air pocket where any issues (hello private credit delinquencies) will compound" [X Link](https://x.com/abroninvestor/status/1976037795069395430) [@abroninvestor](/creator/x/abroninvestor) 2025-10-08T21:31Z 7375 followers, 4081 engagements "Think your arithmetic is wrong Rhys. They consolidate Capital Partners Fund. So investments in the three listed REITS are about $708m CPF $247m $40m of cash (the rest is in CPF) less $126m of debt for post balance date acquisitions. The $130m of consolidated debt is in CPF. So if you exclude the post balance date stuff NTA is $995m or $XXXX a share. The business actually loses money if you exclude performance fees and capital charge fees. DYOR but be careful" [X Link](https://x.com/abroninvestor/status/1976414550233841869) [@abroninvestor](/creator/x/abroninvestor) 2025-10-09T22:28Z 7372 followers, XXX engagements "@PandaValue They done 2x 1billion in past three years However there will be more to come when Iveco & the reinsurance vehicles are run-off & Ora divested. No argument John should be buying as much as he can" [X Link](https://x.com/abroninvestor/status/1976433476162494952) [@abroninvestor](/creator/x/abroninvestor) 2025-10-09T23:43Z 7372 followers, XXX engagements "Market value is $708million for the three listeds. No the $130m debt is ALL in CPF (BEFORE the acquisitions post balance date) But only around $40m of the $120m cash belongs to $HMC.AX as $80m is in CPF. So rough NAV at market is $XXX for the X REITS $247m for the XX% of CPF $40m cash = $995m/412.6m shares = $XXXX a share" [X Link](https://x.com/abroninvestor/status/1976434227647480204) [@abroninvestor](/creator/x/abroninvestor) 2025-10-09T23:46Z 7377 followers, XXX engagements "As a guide a bunch of European holdcos with funds businesses like Eurazeo 28bn fum and Wendel 39bn fum trade respectively at XX% and XX% DISCOUNT to NAV - so $HMC.AX at XX% premium and $18bn of fum doesn't stack up IMHO. Why people paid $XX for it is beyond comprehension" [X Link](https://x.com/abroninvestor/status/1976437741106889096) [@abroninvestor](/creator/x/abroninvestor) 2025-10-10T00:00Z 7377 followers, XXX engagements
[GUEST ACCESS MODE: Data is scrambled or limited to provide examples. Make requests using your API key to unlock full data. Check https://lunarcrush.ai/auth for authentication information.]
@abroninvestor Andrew Brown Dynastic Investor ๐ฆ๐บ๐ด๓ ง๓ ข๓ ฅ๓ ฎ๓ ง๓ ฟ
Andrew Brown Dynastic Investor ๐ฆ๐บ๐ด๓ ง๓ ข๓ ฅ๓ ฎ๓ ง๓ ฟ posts on X about $exoas, debt, $race, iveco the most. They currently have XXXXX followers and 1992 posts still getting attention that total XXX engagements in the last XX hours.
Engagements: XXX #
- X Week XXXXX -XX%
- X Month XXXXXX +76%
- X Months XXXXXXX -XX%
- X Year XXXXXXX -XX%
Mentions: XX #
- X Week XX -XX%
- X Month XXX -XX%
- X Months XXX -XXXX%
- X Year XXX +11%
Followers: XXXXX #
- X Week XXXXX +0.15%
- X Month XXXXX +0.63%
- X Months XXXXX +5.20%
- X Year XXXXX +7.80%
CreatorRank: XXXXXXXXX #
Social Influence #
Social category influence finance stocks automotive brands luxury brands countries
Social topic influence $exoas #5, debt #1988, $race #1732, iveco #95, $wtcax, $manu #4, $hmcax #1, $wowax, $virt #29, has been
Top assets mentioned Ferrari N.V. (RACE) MANCHESTER UNITED PLC (MANU) Virtu Financial, Inc. Class A (VIRT) Carlyle Group, Inc. (CG) Carvana Co. (CVNA) Carlisle Companies, Inc. (CSL) Fair Isaac, Corp. (FICO) CNH INDUSTRIAL N.V. (CNH)
Top Social Posts #
Top posts by engagements in the last XX hours
"2nd July: Citibank release gushing report on $APT.AX with massively upgraded price target ($27.10 up to $64.25) & big EBITDA/margin growth. 7th July: Citi on ticket to raise $1bn in various ways. Absolutely no connection whatever"
X Link @abroninvestor 2020-07-06T23:23Z 7377 followers, XXX engagements
"$WTC.AX more accounting chicanery. $75m of capitalised software. EV/"proper CFbased EBITDA" = 80.1x FY21 ($8.7m of rent down the bottom as well). This stock is just a well orchestrated short squeeze"
X Link @abroninvestor 2021-08-24T23:31Z 7377 followers, XX engagements
"$VIV.PA thread why is it so interesting but how reliant on football rights is it In 2024 investors hope - but not guaranteed - that the "controllers" (define how you like but probably has the surname "Bollor") - start to clean up the structure in an appropriate fashion. 1/7"
X Link @abroninvestor 2023-12-05T05:50Z 7377 followers, 8978 engagements
"BTW until $EDV.AX was spun if you read the article you understand why $COL.AX got utterly left behind on liquor by $WOW.AX Aldi are way smarter than people imagine in this area"
X Link @abroninvestor 2024-03-09T09:28Z 7377 followers, 1337 engagements
"If there was a more singularly useless earnings call in recent times than $GQG.AX - NOT because of the company - but the "I'm a sell side analyst and I have to show I'm on the call by asking a stupid question" I must have missed it. Half an hour of my day on Q&A I won't get back. The folks at the company must bang their heads against a wall off camera. Shares are at a fascinating juncture but of course the IPO in 2021 was excessively priced (to the benefit of $PAC.AX) FUM doubled since shares are lower as "proper" P/E adjusting out performance fees has halved. Value trap or great opportunity"
X Link @abroninvestor 2025-08-22T01:04Z 7376 followers, 2511 engagements
"@TheLongHappy You wouldn't - which is why $VIRT has been a core holding for me"
X Link @abroninvestor 2025-09-04T09:43Z 7376 followers, XXX engagements
"$MANU The world's ugliest cash flow statement. No wonder the shares fell 7%+ NET player spend over X years is 1.2billion (that's out the door exclduing what they still owe) and net debt despite Sir Jim is 551m - after another 130million drawdown and despite 238mn of new equity over two years. That's effectively been urinated away. The catch up in capex is notable & the stadium is yet to come. Ignore the rubbish about "adjusted EBITDA" - football accounting is about CASH. This is pitiful when you look at the quality sponsors and revenues"
X Link @abroninvestor 2025-09-18T01:03Z 7377 followers, 1811 engagements
"$EXO.AS Agnelli's proceeding slowly but surely - NAV+dividends = 14%pa since 2015. More opaque with more unlisted but $RACE down to XX% of gross NAV. If they do nothing will be pro-forma debt free post Iveco. Another buyback down the track - if you plot NAV/share versus net NAV the gap is perceptibly wide illustrating capital management. Estimated NAV/share at last night = XXX so XX% discount. Crazy that it is the same as some of the detritus of Euro holdcos in France and Belgium. Long"
X Link @abroninvestor 2025-09-18T03:38Z 7376 followers, 3734 engagements
"Sorry for the late reply. Bear case is that they haven't grown like the unlisted competition and everyone knows a lot about them as the only listed US player in liquidity provision. Only one listed peer $FLOW.AS and analsysts don't cover $VIRT that well (its a sort of competitor). Perception of excessively volatile earnings. All listed players in the adjacent inter dealer broker space are low P/E stocks - perception of blow-ups. $VIRT bought Knight Capital after it exploded on a single day. I have a core holding in the shares and will put up with volatility. Eventually I believe the company"
X Link @abroninvestor 2025-09-25T22:00Z 7376 followers, XXX engagements
"$EXO.AS the biggest positive change in value for Exor between Dec XX - XX June XX was Iveco $IVG.MI 541million then Ferrari $RACE 378million. So what was #3 at an estimated 147million Unless you know where to look you'll never get it"
X Link @abroninvestor 2025-09-27T07:32Z 7376 followers, 1548 engagements
"Amazingly something as bizarre as $CVNA was the third biggest individual contributor to $EXO.AS increase in value in first six months of 2025. Dont think theres any reference to it"
X Link @abroninvestor 2025-09-27T12:37Z 7375 followers, 1449 engagements
"The @East72Dynasty quarterly report to September is now out. Comments on $BOL.PA a lengthy piece on $EXO.AS and a more optimistic take on $UHR.SW plus the very definition of a value trap: $MANU"
X Link @abroninvestor 2025-10-05T23:39Z 7375 followers, 5930 engagements
"$EXO.AS after the fall in $RACE nearly matched by Exor updated NAV is XXXXXX at full market value of which XXX is listed equities (see through for $BIM.PA) XXXXX for unlisted XXXX for other XXXXX for effective cash including Iveco and (18.70) for debt and capitalised costs. XXXX% discount at prevailing XX stock price. Long"
X Link @abroninvestor 2025-10-09T23:22Z 7376 followers, 1814 engagements
"re $EXO.AS some of the GROTESQUE (and lazy) mis-reporting on the proposed Lady Rothschild divestment of her stake in @TheEconomist - looking at you @business and @Reuters and as for these @axios ๐คก๐คก- She owns XX% of ONE CLASS of shares not XX% of the business. That class of shares has strong voting rights but her stake has a XXXX% ECONOMIC interest in the business which IS worth 650million. Based on what Exor paid for their equivalent 1.26million "B" shares in 2015 (59.5m or XXXXX a share) she might get 12million ish (YES TWELVE) which is all really for the voting rights) not the crazy"
X Link @abroninvestor 2025-10-09T23:40Z 7375 followers, 1505 engagements
"@dlitten4 Discount is still XX% on that basis. You could also argue that via Exor you are buying RACE at X since there's 100net per share (before last night) of OTHER assets against an XX price. Why I am a very happy holder of $EXO.AS"
X Link @abroninvestor 2025-10-11T00:01Z 7375 followers, XXX engagements
"$RACE $EXO.AS dont want to be paying Horner with my $ John thank you very much. @IanSlaterPhoto1"
X Link @abroninvestor 2025-10-17T08:51Z 7377 followers, 2029 engagements
"Ever since I wrote about $MANU as a value trap the team has started playing better football (Sunday was really good) winning & the stock is up XX% on sketchy takeover speculation. ๐ค๐ค"
X Link @abroninvestor 2025-10-21T01:52Z 7377 followers, 1397 engagements
"Still a lot of 'playing the woman' in the $WTC.AX response. Not sure they hit the numbers head on which is essential in dealing with these reports"
X Link @abroninvestor 2019-10-19T06:31Z 7376 followers, XX engagements
"We've hear this stuff from Chanticleer about nasty offshore short sellers before. Didn't work out too well. Same arguments on $WTC.AX basically. Yeah sorry low blow but you think Tony would learn"
X Link @abroninvestor 2019-10-22T03:40Z 7377 followers, XX engagements
"Hope you are enjoying paying US$950million to be the backstop stooge between a bunch of fully secured rapacious financiers and some punters with low credit ratings. No wonder the merchants have to fund this thing because the "factoring" balance isn't high enough. $SZL.AX"
X Link @abroninvestor 2020-10-29T22:42Z 7376 followers, XX engagements
"@fmcbill @ignore89039500 Very low profile bloke indeed $QAN.AX $WDS.AX + aerial๐"
X Link @abroninvestor 2023-03-07T22:53Z 7376 followers, XXX engagements
"Just about conquered one of the great intellectual challenges set by mad German scientists engineers & mathematicians: deconsolidate $VOW.DE A lot of hidden away related party disclosures but what's a few billion between friends. Panadol time"
X Link @abroninvestor 2023-03-15T01:43Z 7376 followers, XXX engagements
"For one #taylorswiftconcert ticket you can buy X $UMG.AS shares (or XX $BOL.PA) which are cheaper"
X Link @abroninvestor 2023-06-28T08:17Z 7376 followers, 1478 engagements
"@MichaelGielkens @onebeggar @castrobeiras Coolblue was a debacle - announced in Feb XX & canned in November - too way too long. Maybe Pro-Gamers has synergy with furniture ๐คฃ๐คฃ TBF the Ukraine invasion didn't help there. I am happy they bought out $BOKA.AS & wish they had been quick on the ball & tried $VPK.AS"
X Link @abroninvestor 2023-07-21T02:51Z 7372 followers, XXX engagements
"@puppyeh1 Don't think you're wrong but the big change is that API is now controlled by Wesfarmers and $WOW.AX keep wanting in (but screwing up). The whole CW/ $HMC.AX super connected & media glowing"
X Link @abroninvestor 2023-12-11T00:51Z 7377 followers, XXX engagements
"An interesting piece. I was on the board of Cheviot Bridge which helped pioneer this business when BWS was buying "crap" from producers cheaply and sullying the Woolies brand. In the mid 2000's Dan's/BWS especially got real about it with quality & wines made especially for them (CowBombie was an early one) The game changed massively when Woolies bought Dorrien Estate & Vinpac to make it themselves and clearly moved further with brand acquisitions. IMHO analysts still don't understand Pinnacle & how good it is aiding margins. Accolade was a stupid acquisition by PE who missed the change in the"
X Link @abroninvestor 2024-03-09T09:26Z 7376 followers, 3141 engagements
"Well. At the other end of the "baffle them with BS" spectrum to $ANZ.AX is the latest caravan presentation to the sophisticates at $MQG.AX Don't think $LIC.AX would dare attempt an ANZ style effort. Might tell too much.Too many degrees in "media and communications" methinks"
X Link @abroninvestor 2024-05-06T23:38Z 7377 followers, 1804 engagements
"@ignore89039500 Not sure how easy it is to get rid of $MFG.AX The fact Formica started advertising the fact MFG was the only way to invest in BJ suggests there had been resisted overtures by the Greed Factory to extract them in favour of a more compatible partner/"cooler model""
X Link @abroninvestor 2025-04-23T22:50Z 7377 followers, XXX engagements
"$HAL.AS $VPK.AS Pending IPO of Aegis Terminal in India. VPK owns XXXX% falling to 42.1%. Will value residual holding at 1112million cf VPK market cap of 4.6billion but VPK taking no equity off table it appears. You have to delve very deep in VPK annual report to find a mention. Carrying value of JV/associate is miniscule. $HAL.AS own XX% of VPK. VPK P/E 13x. Acknowledge its financial engineering but allied to more transparent disclosure in HAL annual report maybe the "international men of mystery" are getting a message"
X Link @abroninvestor 2025-05-25T04:54Z 7377 followers, 5014 engagements
"$SOL.AX $BKW.AX On XX April 1969 W.K. Dawes placed 1million of his company's shares at $XX to an investor who reciprocated by placing 1m of their shares at $XX with Dawes. These two blokes are the reason Dawes did so. Only XX years to unravel. Wonders never cease (Dawes got the better end of the deal in my view)"
X Link @abroninvestor 2025-06-02T04:04Z 7376 followers, 1619 engagements
"With the $SOL.AX $BKW.AX cross shareholding shortly to be laid to rest I had reason to revisit Jagot J 2017 judgement against $PPT.AX minority oppression case with its lengthy exposition of the lead up to the X December 2011 Souls AGM. One of the great AGM's as this correspondent to the @FinancialReview opined"
X Link @abroninvestor 2025-06-14T00:56Z 7376 followers, 1058 engagements
"Some of the unwind of the passive madness in Australia's equity market has been very pronounced over the course of 2025. Some of that was accompanied by "it's a great company forget the price set and forget". The $FICO idea if you will. You've seen $CSL yesterday and a few others. One of Australia's best managed best culture businesses reports Monday but is currently trapped in deep cyclical (structural) headwinds in its two key markets and the shares have HALVED in the past 11months. Why because when you pay 26x EV/peak EBITA (for the time being) for a plumbing distributor and EBITA is now"
X Link @abroninvestor 2025-08-19T23:58Z 7376 followers, 2814 engagements
"$HAL.AS The German prothesis manufacturer Ottobock is listing to help repay Carlyle Group $CG and others loan to Nader Holding the private parent company (believe $MQG.AX involved here too) of 1.1billion (PIK) drawn in 2024 to buy back XX% of Ottobock from $EQT.ST about 582m pre fees going to Nader. Assuming no debt in Ottobock (NOT THE CASE - no financials for Ottobock SE & Co. KGaA filed since 2021) so we have to await the prospectus for an EV/EBITDA figure. But it will be a minimum 12.5x . $HAL.AS carry their XXXX% of Auxilium (about a quarter the size) at EV/EBITDA of 3.9x - just a minor"
X Link @abroninvestor 2025-09-29T07:28Z 7377 followers, 3893 engagements
"No more than saying that $CNH is really challenged for a long period under Trump policies & with its debt it will really struggle. Stellaris is valued at cash backing in the adjusted model. Its just a way of saying - the market hates these two companies so lets properly impair them. No argument with your comments - its just to remove them from the equation as a factor"
X Link @abroninvestor 2025-10-08T13:48Z 7377 followers, XXX engagements
"@JeffWeniger Mid 30's multiples (except $CG) of business value (Cap - NTA) to FRE plus hefty % of either fee earnings fum or total fum. Just hit an air pocket where any issues (hello private credit delinquencies) will compound"
X Link @abroninvestor 2025-10-08T21:31Z 7375 followers, 4081 engagements
"Think your arithmetic is wrong Rhys. They consolidate Capital Partners Fund. So investments in the three listed REITS are about $708m CPF $247m $40m of cash (the rest is in CPF) less $126m of debt for post balance date acquisitions. The $130m of consolidated debt is in CPF. So if you exclude the post balance date stuff NTA is $995m or $XXXX a share. The business actually loses money if you exclude performance fees and capital charge fees. DYOR but be careful"
X Link @abroninvestor 2025-10-09T22:28Z 7372 followers, XXX engagements
"@PandaValue They done 2x 1billion in past three years However there will be more to come when Iveco & the reinsurance vehicles are run-off & Ora divested. No argument John should be buying as much as he can"
X Link @abroninvestor 2025-10-09T23:43Z 7372 followers, XXX engagements
"Market value is $708million for the three listeds. No the $130m debt is ALL in CPF (BEFORE the acquisitions post balance date) But only around $40m of the $120m cash belongs to $HMC.AX as $80m is in CPF. So rough NAV at market is $XXX for the X REITS $247m for the XX% of CPF $40m cash = $995m/412.6m shares = $XXXX a share"
X Link @abroninvestor 2025-10-09T23:46Z 7377 followers, XXX engagements
"As a guide a bunch of European holdcos with funds businesses like Eurazeo 28bn fum and Wendel 39bn fum trade respectively at XX% and XX% DISCOUNT to NAV - so $HMC.AX at XX% premium and $18bn of fum doesn't stack up IMHO. Why people paid $XX for it is beyond comprehension"
X Link @abroninvestor 2025-10-10T00:00Z 7377 followers, XXX engagements