Brazil fintech is very competitive indeed. For BATS, I think otherwise that the new products and the ability to scale new category is much better than before. They can use that playbook for Cannabis, or Energy boosts and things like this
Yeah could possibly be true. Just the drop off in growth was actually a bit too much for me. 40% to 26% in a single year. If that drops to 10-15% it will take forever before it will add earnings that are material at this valuation.
I'm with you man. For me any EM fintech is just way too hard. Especially when it's easy to find EM companies with more visibility.
Also agree on BATS, it's still very unclear what margins/profitability will end up at for vape, so a huge debt load just doesn't mix with that much uncertainty imo. Very different to prior opportunities when it was still the same product you were evaluating, amongst the regulation.
Yeah, they need to be cheaper than PAGS currently is. Sometimes you only really know how you truly feel about a stock when you actually hold a position.
Im still comfortable with financial stocks in EM when they are absurdly cheap and have 15-20% dividend yields like with HSBK. If you are getting that much of your money back every year it greatly derisks the thesis. Which is also lacking with PAGS.
I have the worst timing sometimes:
https://seekingalpha.com/news/4005175-hollysys-automation-gains-on-report-management-buyout-consortium-finalized
Luckily I saw thi on time and ramped my position back up to 14% at low $17.
Brazil fintech is very competitive indeed. For BATS, I think otherwise that the new products and the ability to scale new category is much better than before. They can use that playbook for Cannabis, or Energy boosts and things like this
Yeah could possibly be true. Just the drop off in growth was actually a bit too much for me. 40% to 26% in a single year. If that drops to 10-15% it will take forever before it will add earnings that are material at this valuation.
I'm with you man. For me any EM fintech is just way too hard. Especially when it's easy to find EM companies with more visibility.
Also agree on BATS, it's still very unclear what margins/profitability will end up at for vape, so a huge debt load just doesn't mix with that much uncertainty imo. Very different to prior opportunities when it was still the same product you were evaluating, amongst the regulation.
Yeah, they need to be cheaper than PAGS currently is. Sometimes you only really know how you truly feel about a stock when you actually hold a position.
Im still comfortable with financial stocks in EM when they are absurdly cheap and have 15-20% dividend yields like with HSBK. If you are getting that much of your money back every year it greatly derisks the thesis. Which is also lacking with PAGS.