14 Investment write-ups to look at

u/Away_Definition5829 · Reddit — r/ValueInvesting · 28 июля 2026, 03:15 · ⬆ 15 очк. · 💬 1 комментариев | Открыть на Reddit ↗

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=== SUMMARY === - This post aggregates 14 investment write‑ups from Substack, curated by Giles Capital, covering a range of US, European, and Asian equities. - The linked articles contain detailed theses – several highlight deep value opportunities (asset plays, low multiples, insider buying) while others discuss growth, valuation, or red flags. - Quality assessment: Well‑researched curated DD; the original Substack authors provide fundamental analysis, but the Reddit poster only shares links without personal endorsement. === SENTIMENT === MIXED === TRADE IDEAS === FULL LN - LONG | confidence: 0.80 | sentiment: +0.70 Speaker: u/Away_Definition5829 Thesis: 1. THE FACT: Fuller, Smith & Turner’s freehold pub estate was professionally appraised at £991m in Jan 2026, yet the company’s entire market cap is only £344m. 2. THE BRIDGE: The market prices the operating business at a significant discount to its real estate; a sale or refinancing of assets could unlock substantial value, leaving net upside even after debt. 3. THE VERDICT: This is a classic net‑asset‑value (NAV) discount play with a hard asset backstop and a management‑led catalyst. 4. RISKS: Asset sale delays, regulatory changes in UK pub licensing, or a downturn in property values could widen the discount. Timeframe: medium-term Key Points: - Market cap £344m vs assets worth £991m - Professional appraisal provides objective floor - Insider ownership and founder’s son active 067830 KS - LONG | confidence: 0.80 | sentiment: +0.70 Speaker: u/Away_Definition5829 Thesis: 1. THE FACT: Savezone I&C owns six Seoul transit‑site department stores appraised at up to 1 trillion won; the stock trades at 0.19x book value. 2. THE BRIDGE: Korean governance reforms are pressuring companies to surface hidden asset value, making this a forced‑catalyst deep value play. 3. THE VERDICT: Extreme book‑value discount combined with a macro push for shareholder returns creates asymmetric upside. 4. RISKS: Liquidity is low; appraisal

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14 write-ups from Substack worth reading, all published within the last week or so.

Not my work - sourced from Giles Capital's weekly compilation: [https://gilescapital.substack.com](https://gilescapital.substack.com)

# Americas

**AlphaSeeker** on [**Alphabet**](https://alphaseeker84.substack.com/p/alphabet-inc-goog-q2-2026-results) (🇺🇸 GOOG US - US$3.9tn) Best quarter in company history: 24% revenue growth, 34% operating margins. Then raised $49.6B equity, stopped buybacks, and turned free cash flow negative. Something has shifted.

**Archive Invest** on [**Microsoft**](https://archiveinvest.substack.com/p/627b-in-contracted-revenue-azure) (🇺🇸 MSFT US - US$2.8tn) $627B in contracted future revenue, Azure growing 40%. Nearly half that backlog is OpenAI, and $190B in annual capital spending hasn't started paying back yet.

**Hated Moats** on [**Netflix**](https://hatedmoats.substack.com/p/netflix-dcf-valuation-037) (🇺🇸 NFLX US - US$292bn) 33% operating margins and $6.6B of free cash flow in H1. DCF model puts intrinsic value 22% above today's price.

**CapEx &amp; Chill** on [**Netflix**](https://capexandchill.substack.com/p/netflix-disappoints-on-guidance-but) (🇺🇸 NFLX US - US$292bn) 45% penetration of 800 million addressable households. Ads, gaming, and live events each barely started. $27.1B in remaining buyback capacity.

**The Finance Corner** on [**Otis Worldwide**](https://thefinancecorner.substack.com/p/otis-the-subscription-that-nobody) (🇺🇸 OTIS US - US$27bn) 92% of profit comes from elevator maintenance, a subscription nobody cancels. Author's own model puts fair value at $69. Stock trades at $83.

**Sanjiv** on [**New York Times**](https://sanj2f3.substack.com/p/new-york-times-group-nyt) (🇺🇸 NYT US - US$12bn) 13.1 million subscribers growing at 15.5% annually. Berkshire's new CEO tripled the NYT position as his first major stock move. Author's model says fairly valued.

**Wolf of Oakville** on [**Gatekeeper Systems**](https://www.wolfofoakville.com/p/gatekeeper-systems-gsiv-fins-review-b7f) (🇨🇦 GSI TSX.V - CAD$175m) Earnings update: revenue up 68%, back to profitability. CEO sold 4 million shares last September while company burned $21m cash over the past year.

**Stellarium** on [**Mobile Infrastructure**](https://stellarium.substack.com/p/mobile-infrastructure-corp-nasdaq) (🇺🇸 BEEP US - US$75m) 35 US parking facilities trading at half book value, 64% insider-owned. Plan is to sell assets at private-market prices and retire debt.

# Europe, Middle East &amp; Africa

**Best Anchor Stocks** on [**ASML and TSMC**](https://www.bestanchorstocks.com/p/the-bottleneck-is-dying-long-live) (🇳🇱 ASML AMS, 🇹🇼 TSM US - €610bn, US$800bn+) Both advanced chipmaking equipment and Taiwan's leading foundry are chokepoints in global chip production. Tests whether AI-driven demand justifies valuations leaving little room for a cycle turn.

**Tactic Hazel** on [**ASML**](https://tacticzhazel.substack.com/p/asml-just-broke-its-own-rule) (🇳🇱 ASML AMS - €610bn) ASML broke its own rule on conservative multi-year guidance, raising 2027-2028 capacity commitments 30% annually. Author reads this as booked demand, not aspiration.

**Rock &amp; Turner** on [**Saga**](https://rockandturner.substack.com/p/spending-the-kids-inheritance-saga) (🇬🇧 SAGA LN - £945m) Founder's son back in the chair, buying shares personally. Net debt fell from £637m to £465m over two years. At 3.7x leverage, equity is still a stub.

**Angsana &amp; Anderson** on [**Pets at Home**](https://www.angsanaanderson.com/p/pets-at-home-undervalued-with-a-takeover) (🇬🇧 PETS LN - £865m) 12x earnings, 9% free cash flow yield. Vet services generates 80% of group profit. COVID-era pets now entering the most expensive part of their lives.

**Price to Tangible Bruce** on [**Fuller, Smith &amp; Turner**](https://tangiblebruce.substack.com/p/048x-tbv-assets-no-screener-will) (🇬🇧 FULL LN - £344m) TOP PICK Freehold pubs across southern England valued at £991m by a January 2026 professional appraisal. Market cap is £344m. On the assets alone you'd be left with more than you paid.

# Asia-Pacific

**Korea Value Hunter** on [**Savezone I&amp;C**](https://koreavaluehunter.substack.com/p/savezone-i-and-c-revisited-what-a) (🇰🇷 067830 KS - US$66m) TOP PICK Six Seoul transit-site department stores appraised at up to 1 trillion won. Trades at 0.19x book, with governance reform forcing value to surface.

Идеи

u/Away_Definition5829 Reddit r/ValueInvesting

Fuller, Smith & Turner’s freehold pub estate was professionally appraised at £991m in Jan 2026, yet the company’s entire market cap is only £344m. The market prices the operating business at a significant discount to its real estate; a sale or refinancing of assets could unlock substantial value, leaving net upside even after debt. This is a classic net‑asset‑value (NAV) discount play with a hard asset backstop and a management‑led catalyst. Asset sale delays, regulatory changes in UK pub licensing, or a downturn in property values could widen the discount. 067830 KS - LONG | confidence: 0.80 | sentiment: +0.70 Speaker: u/Away_Definition5829 Thesis: Savezone I&C owns six Seoul transit‑site department stores appraised at up to 1 trillion won; the stock trades at 0.19x book value. Korean governance reforms are pressuring companies to surface hidden asset value, making this a forced‑catalyst deep value play. Extreme book‑value discount combined with a macro push for shareholder returns creates asymmetric upside. Liquidity is low; appraisal values may not be realized on sale; governance changes could stall.

u/Away_Definition5829 Reddit r/ValueInvesting

Netflix generated $6.6B free cash flow in H1 2026, has 33% operating margins, 45% penetration of 800M households, and $27.1B remaining buyback capacity. The DCF model from one write‑up shows 22% upside; ads, gaming, and live events are barely monetized yet – further growth drivers. Strong free cash flow and under‑penetrated ancillary revenue streams support a re‑rating. Competition from streaming rivals, subscriber saturation, or a recession could slow growth. PETS LN - LONG | confidence: 0.70 | sentiment: +0.60 Speaker: u/Away_Definition5829 Thesis: Pets at Home trades at 12x earnings and yields 9% free cash flow; vet services generate 80% of group profit. COVID‑era pets are now entering their most expensive life stage (middle age), driving recurring vet revenue, while the overall valuation remains cheap. A defensive, recession‑resilient business with a high‑margin service component and a low multiple – attractive for value‑oriented investors. Slowdown in pet ownership growth, regulatory changes in veterinary practice, or increased competition.

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This Reddit post, published July 28, 2026, features u/Away_Definition5829 discussing FULL LN, NFLX. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: u/Away_Definition5829 · Tickers: FULL LN, NFLX