Analysis of Tallinna Vesi

Company: Tallinna Vesi AS

Business: An Estonian water company. They are dealing with three things: Water Supply (mainly to the capital Tallinn), Collection of Wastewater (making sure that the pipes goes to their centrals) and finally Wastewater Treatment (cleaning all of it before sending it out to the Baltic). They have managed to receive all the quality stamps that EU hands out and they own the rights to provide and treat the water from Tallinn until 2020 (meaning simply that they have monopoly for another 6 years) . This means that they are servicing over 30% of the entire population in Estonia.

Active: Estonia and more specifically in Tallinn and suburbs to Tallinn.

P/E: 11.2

Delhi, India: March 2014

I have spent the last couple of days in India and more precisely in Delhi. For tourists Delhi is usually a point of entrance before going somewhere else in India and usually to locations that are less crowded and generally considered to be more beautiful than Delhi. Because to be honest Delhi is more the beast of India.

The first ting that hit you when you enter India is the smell in the airport. That smell is simply the odour of India for good and bad. It contains spices, it contains curry, it is a heavy musk smell, it contains strongly concentrated urine and a hint of garbage is also in there. The first time I smelled it I was blowing air out of my noise a couple of times and this time it was more like "Ah... I am back in India again!"

Pershing Square: William Ackman Q4 2013

This brief report concerns the dealing of William Ackman with Pershing Square and I must say that his activity was very low in the last quarter.

Conclusion: The question is that is William waiting for? The fall of Herbalife? Is he forced to sell shares and make no new investments due to his losses from shorting Herbalife? Either way he made no new additions to the portfolio, he bought no new shares and only sold off some shares in three of his companies.

For the previous report on Willams dealings please look here.

Analysis of Morrisons Supermarket

Company: Morrisons Supermarket

Business: A British supermarket chain. They are currently running around 500 stores. Their concept is craftsmanship and fresh food. Almost all of the fresh food that they are selling are being sourced and processed in their own factories.

Active: Only in the UK and are currently trying to push their way into the London area.

P/E: 8.7

Analysis of KSB Group

Company: KSB Group

Business: A German pump and valve producer. As they claim themselves wherever fluids need to be transported, controlled or shut off they are present with their products. They are servicing water and waste water systems, energy and mining systems as well as building and general industry with their products.

Active: They are present in over 100 countries. Strong focus in Europe a little less in South America and West Africa and to some extent the Middle East and Asia.

P/E: 10.8