ins i ghts
// By Brandon Mackie
My Love Affair with Global Investing You’ve probably heard the advice… invest in your own backyard.
Y
ou know the companies. You’ve used their products. You can phone up management.
Makes sense doesn’t it? Well the problem with investing in your own backyard is… so can your neighbors. And often that means more eyeballs, more competition, and higher prices – which as an investor is the last thing you want. I’ve lived my whole life in the United States. And I’ll let you in on a secret… I haven’t owned a US-listed stock in over 11 years. My love affair with global investing started in 2013 with an obscure Swedish stock. The company was called Kopparbergs Bryggeri. They brewed hard pear cider and I knew this could be a very good business at scale. And here was Kopperbergs trading at 4 times free cash flow, growing double-digits each year. I even found their pear cider at a pub in town – it was darn good. The company’s reports were all in Swedish. It traded on an obscure exchange called the Nordic Growth Market (NGM) – a collection of mostly 30 Nordic biotech companies. And when I phoned my broker at Fidelity, I was told he’d have the order delivered… by hand. I’d hear back in a few days if I got a fill.
14 MicroCap Review Magazine
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