andi_678

[andi_678 @678_andi]

@search4valueNew @evfcfaddict @traderepublic For me, HVB came in last - the money was credited only yesterday.

[andi_678 @678_andi]

@search4valueNew @evfcfaddict @traderepublic Comdirect seems to have worked as well - now only waiting for HVB (yes) and ING. For ING I fear, they never accepted my tender offer, although I think I told them to.

[andi_678 @678_andi]

@search4valueNew @evfcfaddict IBKR and Scalable for me as well, DKB the position disappeared but the money is not there yet.

[andi_678 @678_andi]

@search4valueNew @evfcfaddict Meinst Du, sie teilen unterschiedlich zu? Und hast Du auf TR am Umtausch teilnehmen können? Hab mich nicht getraut, wusste nicht, ob sie es anbieten. Ich hab nur bei Scalable mitgemacht.

[andi_678 @678_andi]

@evfcfaddict Wenn ich richtig rechne, wurden 2025 ~73k Aktien von Kleinanlegern eingereicht. Dieses Jahr waren es ~770k Aktien. Damit haben sie a) die Quote für den Rest ruiniert und b) nächstes Mal könnte es sogar für die Kleinen eine Rationierung geben. Aber sonst - tolle Idee. DANKE 🙏

[andi_678 @678_andi]

@matschmitt2009 Danke für Deine ausführliche Erläuterung!

[andi_678 @678_andi]

@Achill_93 Etwas Wasser in den Wein: ist es ein echtes Förderprogramm mit Entwicklungsmöglichkeit danach? Bei uns war es eher ein Hinhalteprogramm - wer drin ist, wird in der Zeit nicht wechseln und danach schaut man weiter.
Trotzdem viel Erfolg!

[andi_678 @678_andi]

@l_m_s15 Könnt Ihr bei Eurem Broker Eure Aktien einreichen ( unabhängig davon, ob Ihr das wollt)? Bin bei IBKR und da gibt es noch keine Option. Danke!

[andi_678 @678_andi]

@iBladesi How do you know that passive was puking? I just want to understand better?

[andi_678 @678_andi]

@bigcoveranch @iBladesi Thanks for sharing. Took a small position @ 25.22.

[andi_678 @678_andi]

@ShmuelLon @finphysnerd Here we go:

[John_Hempton @John_Hempton]

Hi John. Hope all is well and thanks for the connection. Just reaching out since we are doing outreach on behalf of public companies we work with and when we ran your name by the management of Silvercorp, New Pacifc Metals and Auro Metals, they all requested a intro meeting with you hence the reach out. If interested let me know and happy to set up the call.

[andi_678 @678_andi]

@Observer_doubt @MoodyWriter13 Here you go

[Moody @MoodyWriter13]

After another drama and sell-off a few weeks ago after the earnings, that took $HROW below $29, we were today back close to $40.

I know I keep repeating this, but it’s an important lesson: when you take a large position, you need genuine conviction. Not hope, not excitement, conviction. It also doesn’t help to outsource conviction to someone you follow.

When you know a stock well and have been invested for a longer period, you also start to understand its typical behavior. That familiarity helps a lot in dealing with volatility like this.

I never considered selling a single share during the decline. More importantly, I never felt uncomfortable as the stock fell. Adding to the position was the natural response.

That’s how investing becomes an enjoyable pursuit rather than a stressful one. When your conviction is grounded in careful analysis and lived experience with the name, volatility becomes something to use, not something to fear.

Harrow is currently one of my two largest positions. That said, the risks in this stock should not be underestimated. I have strong confidence in the future growth ahead, but there are still questions around the pricing power. High conviction should never be confused with certainty.

I haven’t published an article on Harrow yet, but it is fairly well covered on X.

[andi_678 @678_andi]

@scarfo_leo @MoodyWriter13 Here you go

[Moody @MoodyWriter13]

At the beginning of May, I wrote that I had already prepared an article on Substack about $MIAX, but never published it. At the time, the stock price didn’t seem attractive enough to me to release the article. The market’s recent mood has now given me a second chance to publish it in a slightly revised form.

„In early June 2026, every exchange operator stock got crushed. CBOE dropped 15% in a single week. MIAX fell even harder. The triggers: panic over perpetual futures, a VIX collapse to 15, and rising Treasury yields. A sector-wide rout.
And it is precisely in moments like these that it pays to take a closer look. Miami International Holdings, or MIAX, just proved with its Q1 2026 results that the growth story is fully intact: net revenue up 40%, EBITDA up 66%, margin expanded to 51%. The company has overtaken the NYSE in the U.S. options market share rankings and climbed to the number three spot. The Bloomberg Index Futures went live in May. And the stock price? After the selloff, it sits at around $40, implying a forward EV/EBITDA of just 10x on 2026 estimates.
In my view, this is one of the most attractive entry points across the entire financial infrastructure sector. But let me take it step by step...“

https://t.co/K8qBT9251a

[andi_678 @678_andi]

@nanocap100 The spread is significantly lower if you take the 0.463 exchange ratio that they mention as average value for the transaction. 😢

[andi_678 @678_andi]

@nanocap100 Thank you for sharing this. It’s a great read and a pity that it gets so little attention.

[andi_678 @678_andi]

@PhilippHaas_ir Fyi- an opposing view:

[David Orr @orrdavid]

Another big issue is that $MAR already built their own portal, and they're a growing share of hotels lnog term. Hilton and Hyatt will be similar successes, if they're not already. $MAR probably gets to keep consolidating hotels.

And then regulators are fed up with $BKNG as well, and are cracking down on their anti-competitive practices. Like in Spain.

It's hard to see AI as anything but a threat here. AI will be king of killing random middlemen.

[andi_678 @678_andi]

@iBladesi What happened?

[andi_678 @678_andi]

@ACapitalLP I know @SFarringtonBKC looked deeply into this (maybe to deep?). If you dm him, he might give you some more info. Here his latest write-up, although this does not contains SOTP.
https://t.co/zf0VIYBArr

[andi_678 @678_andi]

@ruth_capital @Sam_Badawi Didn’t know you were selling puts. Interesting!

[andi_678 @678_andi]

@ShmuelLon Never thought about that but your arguments make sense. Thanks for sharing!
Do you play these situations actively and often?