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This article is meant as a cliff notes of important tidbits that I took away from Chris Mayer’s great book 100-Bagger’s. 100 Bagger’s is one of my favorite investing books and I wanted to take some notes on it.

Sutl Enterprise (SGX:BHU) shows strong financials with revenue surpassing pre-COVID levels. Opportunities for marina expansion, attractive valuation, and a 9% dividend yield make me content to hold.

Summary of my Portfolio as of Q2 2023.

HRNetGroup is a Singapore listed professional recruiting and temporary staffing company currently operating in 15 cities across Asia. The company’s largest operation is in Singapore which makes up over half its revenues and is the largest player. The company has been expanding both domestically and internationally through both organic and inorganic means. The company is trading at an attractive multiple with good growth prospects, pristine balance sheet, and a unique insider ownership model. The staffing industry can be quite cyclical but they do bounce back rather quickly and the company’s pristine balance sheet can pretty much weather anything.

Bladex has had a good 2022. My cost basis in the shares is $15 and the current share price is $20.5 so I gotta be happy. So far my thesis has been playing out with NIM expansion and the bank lowering their Tier 1 ratio which translated to higher ROE and thus a higher P/B ratio. The share price still has room to run to get to a 1 to 1.2 time P/B ratio. However there are some headwinds on the horizon. The yield curve is heavily negative which usually means rates are gonna go down. Inflation measured by CPI is trending down and inflation based on Truflation is already under 3%. Both those indicators are telling me rates will probably be heading lower short term which will depress NIM. Even with that I still like the bank and its business model lending extremely short term with very low risk. I also like the new CEO’s 5 year plan that will expand Bladex into new products. Overall I think shares are still attractive so I’ll continue to add.