No qualifying author-owned investment thesis was confirmed in this post.
third party compilation not author original
Score27
Comments6
▶ Full Post Text
Not my work - sourced from Giles Capital's weekly compilation: [https://gilescapital.substack.com/](https://gilescapital.substack.com/)
# Americas
[**Rijnberk InvestInsights**](https://open.substack.com/pub/rijnberkinvestinsights) on [**Netflix**](https://rijnberkinvestinsights.substack.com/p/netflix-down-40-now-a-no-brainer) (🇺🇸NFLX US - US$347 billion)
Down 38% from its peak despite $9.5B in free cash flow and 325M subscribers. Warner Bros.’ acquisition bid signals the market undervalues what remains the dominant streaming platform globally.
[**Hidden Market Gems**](https://open.substack.com/users/218905452-hidden-market-gems?utm_source=mentions) on [**Salesforce**](https://sbeautiful.substack.com/p/never-buying-salesforce) (🇺🇸CRM US - US$182 billion)
After a three-hour meeting, the author found AI replacing multi-day workflows with 5-minute tasks. The market sees a legacy CRM vendor, but the data heritage moat tells a different story.
[**Guardian Research**](https://open.substack.com/pub/guardianresearch) on [**Boston Scientific**](https://guardianresearch.substack.com/p/guardians-bet-with-burry) (🇺🇸BSX US - US$113 billion)
MedTech leader dropped 17.5% in a single session on a missed electrophysiology metric while the rest of the business beat across the board. PEG ratio 0.93, lowest among peers.
[**Rijnberk InvestInsights**](https://open.substack.com/pub/rijnberkinvestinsights) on [**ServiceNow**](https://rijnberkinvestinsights.substack.com/p/servicenow-oversold-on-a-false-narrative) (🇺🇸NOW US - US$106 billion)
The market took 48% off ServiceNow on the AI-kills-SaaS narrative. Revenue grew 21%, RPO accelerated 27%, and at 21x FCF it’s the cheapest in years.
[**Value Don't Lie**](https://open.substack.com/users/5547617-value-dont-lie?utm_source=mentions) on [**Allison Transmission**](https://www.valuedontlie.com/p/quick-value-303-allison-transmission) (🇺🇸ALSN US - US$9.6 billion)
Dominant 80% market share in heavy-duty automatic transmissions with mid-30% EBITDA margins, yet trades at just 8.5x EBITDA. Has repurchased 65% of shares outstanding since its 2012 IPO.
[**The Coal Trader**](https://open.substack.com/pub/thecoaltrader) on [**NRP**](https://thecoaltrader.substack.com/p/adding-to-my-position-in-nrp) (🇺🇸NRP US - US$1.6 billion) **TOP PICK**
A simple idea with a clear catalyst: met coal royalty MLP approaching debt-free status by February. $200M in projected 2026 FCF translates to 8-9% distribution yields at current prices.
[**Rock & Turner Investment Analysis**](https://open.substack.com/pub/rockandturner) on [**Kingsway Financial**](https://rockandturner.substack.com/p/kingsway-financial-services-ceo-interview) (🇨🇦KFS US - US$360 million)
A CEO interview with the only publicly listed permanent capital vehicle for the search fund model. $620M in accumulated tax losses provide a tax-free runway for acquisitions compounding underneath.
[**Margin Of Safety**](https://open.substack.com/users/10859734-margin-of-safety?utm_source=mentions) on [**Aluula Composites**](https://www.marginofsafetyinvesting.com/p/aluula-composites-auua) (🇨🇦AUUA CN - CAD$91 million)
Pre-revenue composites maker with proprietary adhesive-free UHMWPE fusion technology, 15x stronger than steel by weight. Think Gore-Tex at its inflection point. 45% insider ownership and Michelin in the pipeline.
# Europe, Middle East & Africa
[**Compound with René**](https://open.substack.com/pub/renesellmann) on [**Edenred**](https://www.compoundwithrene.com/p/deep-dive-revisiting-edenred-eden) (🇫🇷EDEN FR - €4.8 billion)
A 60%+ drawdown on Brazilian regulatory fears when Brazil represents just 19% of revenue, and only half of that is regulated. A judge has since suspended the reform for Edenred.
[**Nordic Edge**](https://open.substack.com/pub/nordicedge) on [**Vend Marketplaces**](https://nordicedge.substack.com/p/vend-marketplaces-vend-q4-2025-earnings) (🇳🇴VEND NO - NOK 39 billion)
Norwegian classifieds operator where the Adevinta stake covers half the market cap. Core business delivered 34% EBITDA margins and double-digit ARPA growth while the market fixates on AI disruption fears. (Q4 2025 Earnings)
[**Robin Research**](https://open.substack.com/users/21810349-robin-research?utm_source=mentions) on [**VUSION SA**](https://robinresearch.substack.com/p/vusion-sa-frvu) (🇫🇷VU FR - €2 billion)
Global leader in electronic shelf labels at under 8% market penetration with Walmart as anchor client. Founder-CEO led, highest quality score across all companies this week. The retail digitisation play.
[**Waits**](https://open.substack.com/users/87777872-waits?utm_source=mentions) on [**Ramsdens**](https://swearengenenterprises.substack.com/p/casas-de-empeno-en-reino-unido-5) (🇬🇧RFX LN - £130 million)
UK pawn shop operator riding the gold tailwind. Precious metals at 29.5% of gross profit with gold past £4,900/oz. Loan book up 12%, new stores planned. In Spanish but worth reading.
# Asia-Pacific
[**Best Anchor Stocks**](https://open.substack.com/users/108739794-best-anchor-stocks?utm_source=mentions) on [**Nintendo**](https://www.bestanchorstocks.com/p/reading-between-the-lines) (🇯🇵7974 JP - ¥9.8 trillion)
Switch 2 is the fastest-selling console in history at 15M units, yet the market focuses on early-cycle hardware margins. Real earnings power arrives when blockbuster titles hit that installed base. (Earnings Update)
[**Tailwind Holdings**](https://open.substack.com/users/310566413-tailwind-holdings?utm_source=mentions) on [**Shoei Co**](https://favonahathaway.substack.com/p/an-112-yield-no-debt-and-75-returns) (🇯🇵7839 JP - ¥96.9 billion)
Premium helmet maker averaging 74.7% ROIC since 2016 with zero debt and an 11.2% owner’s yield. Consistent pricing power and a niche global monopoly. Rare quality at a reasonable price.
[**Mr Deep-Value**](https://open.substack.com/users/113017890-mr-deep-value?utm_source=mentions) on [**Shinko Shoji**](https://www.mrdeepvalue.com/p/shinko-shoji-analysis) (🇯🇵8141 JP - ¥29.5 billion)
Classic Japanese net-net at 0.7x NCAV with 40% of assets in pure cash. Post-Renesas restructuring generated a ¥32B cash influx now being returned via 13.6% shareholder yield and aggressive buybacks.
[**AmsterdamStocks**](https://open.substack.com/pub/amsterdamstock) on [**Densan**](https://amsterdamstock.substack.com/p/densan-3640-the-most-one-sided-riskreward) (🇯🇵3640 JP - ¥9.6 billion) **TOP PICK**
Japanese municipal cloud migration at EV/EBIT 1.8x with operating margins expanding from 6% to 20%. Over 200 municipalities migrating by Q4, a structural margin metamorphosis hiding in plain sight.