Reece Group – Acquisition of MORSCO (REH)

Although I haven’t written about Reece before, the acquisition of MORSCO, announced today, prompted me to write about this amazing company, of which I have been a shareholder for the past 12 months. Most Australians have heard of Reece Group, but most of us won’t appreciate how significant they are as a company: $5B market … More Reece Group – Acquisition of MORSCO (REH)

FMG – Q3 Update

Fortescue recently released quarterly numbers as well as another updated presentation today from the Macquarie conference.  FMG’s share price has been getting a beatdown lately, I think largely due to the lower Q3 production, increase in C1, and low revenue realisation. But the company continues to spew out masses of cash – $1.4B USD in … More FMG – Q3 Update

Q3, FY18 return

Q3 was another excellent result, returning +14.59% against the benchmark return of -4.04%.   YTD return for the financial year so far is +77.05%.  My only trade for the quarter was purchasing Webjet. Kogan again contributed a significant proportion of the return, but the standout in percentage growth was Spirit Telecom, rising 70%. I am constantly … More Q3, FY18 return

Fortescue Metals Group (FMG) – Dirt Cheap

Company Overview Fortescue is a well-known Australian success story.  A former stockbroker buys some mining leases in the Pilbara, is blocked from accessing BHP and RIO’s rail infrastructure, so he builds his own debt-funded railway.  Nowadays, Fortescue is almost debt-free, generates masses of cash every year, and has the lowest C1 production costs in the … More Fortescue Metals Group (FMG) – Dirt Cheap