söndag 16 november 2014

October sales Vardia Insurance Group


Vardia Insurance Group presented strong sales figures for October this week, 11th November. The total new sales in Sweden, Norway and Denmark in October were 106.4 million NOK (66.4 million NOK) which is an increase of 60.2% from October 2013. Norway contributed with 59.4 million NOK, Sweden with 43.3 million NOK and Denmark with 3.6 million NOK.

For me personally it's a bit under my estimation since I expected total sales for fiscal year 2014 to be 1112 million NOK. I really thought sales for October should have been around 113-117 million NOK with Denmark contributing with atleast 9-10 million NOK to the sales. It's no panic yet about the numbers for my forecast, but it would have been nice to be on the right side. To get my sales forecast of 1112 million NOK Vardia has to close business of 252 million NOK in the two upcoming months, which I think  could be hard because of christmas holidays.

Since Denmark was a disappointment I really hope they are steeping up now for the last two months of the year. If they do I am sure Vardia will show profit for at least some month this year and the concern about the cash problem will go away and we could see a more normal valuation for Vardia.

Here are the actual sales for 2014 up to October (rounded),


I also bought some more companies, Mc Donalds (MCD) and Protector Forsikring (PROTCT). Mc Donalds for a price of 95.3 USD per share and Protector for a price of 36.2 NOK per share. More info and analysis will come in the upcoming weeks.


Over and out,

EWI

tisdag 11 november 2014

Documentaries for the general knowledge about investing and economy

Since I am a big fan of documentaries, economy and investing, I have seen the most investing and economy documentaries which are out there and I thought it could be a great idea to share my top list of the ones I seen. I don't have the time to write a small summary about everyone today and rate them, I will do it subsequently with around 4-5 per week. All of them could be seen under the tab "Documentaries" and of course ranked by rating. Hope you have the same taste as I have, the first four could be seen below.

Quants: Alchemists of Wall Street

Rating: 9/10
A documentary about the quants on Wall Street which are creating the complex products which are used in the financial world today. The documentary are showing how the world has becoming increasingly dependent on mathematical models trying to predict the future and quantify risk. I must say that the documentary are one of the best I have seen and especially if you believe in quantitative analysis of companies. Highly recommended.


Inside job

Rating: 8/10
One of the best documentaries reflecting the 2008 financial crisis. The movie is directed by Charles Ferguson and he described the movie during as being about "the systemic corruption of the United States by the financial services industry and the consequences of that systemic corruption". The film is narrated by Matt Damon, which has a harmonic voice and really get you interested and excited about the worlds economy. 
The plot is divded into five parts which all of them is describing the financial crisis in chronological order, with the start how we got there and where we are now (2010).

From my point of view this is really the best documentary about the financial crisis and is a must for all people that some kind of interests about economy.I give Inside Job a rating on 8 out of 10 from me.

The Tax Free Tour

Rating: 7/10
Documentary about how multinational enterprises are paying taxes (or not paying taxes) really good and with a lot of insight in different tax havens and the tax setup the big companies has today, also a bit humoristic at some parts. The same director as the Quants: Alchemists of Wall Street, Marije Meerman.

Where do multinationals pay taxes and how much? Gaining insight from international tax experts, Backlight director Marije Meerman, takes a look at tax havens, the people who live there and the routes along which tax is avoided globally.
Those routes go by resounding names like "Cayman Special", "Double Irish and Dutch Sandwich". A financial world operates in the shadows surrounded by a high level of secrecy. A place where sizable capital streams travel the world at the speed of light and avoid paying tax.
The Tax Free Tour is an economic thriller mapping the systemic risk for governments and citizens alike. Is this the price we have to pay for globalized capitalism?


The World's Greatest Money Maker: Warren Buffett

Rating: 6/10
As Warren Buffett were one of the ones who got me interesting in investing and how you think as a value investor I must say I were a bit disappointed on this documentary. On the other hand it could have with the reason that I read all books there is about Warren Buffett before I saw the documentary. That's why I am only giving this one a six out of ten, but I still think as a value investor you should have seen this. General knowledge for an investor.

Over and out,

EWI