11Mon·

Italmobiliare $ITM (+1.59%) seems to be a very interesting company, but it seems to run pretty much under the radar. You can't find too much about it on the internet. Is anyone invested?

https://abilitato.de/italmobiliare-aktie-kursanstieg-von-40-prozent-in-einem-halben-jahr-und-immer-noch-unterbewertet/

abilitato.deItalmobiliare Aktie: Starker Kursanstieg - und noch mehr Potential

3 Comments

Giacomo@Romolo

11Mon

It's an investment holding focused on alternative investments, mainly PE.
It means that it goes extremely well when the market is doing well, like now, but very badly during bear markets. You can see the same pattern on many bigger brothers of same sector like Blackstone $BX , KKR $KKR , Brookfield $BN, or Apollo $APO.

The reasons are mainly 2:
1. It's difficult to have a proper valuation on private equity, so they compare them with other peers, and when the market is high they are priced very high too.
2. Part of the fees are performance based, so when then asset price increase much, they make lot of money.

Buy it if you accept higher-than-average volatility and you are bullish about broader European markets in the next future.

You can text me to have more insights if you want: info@giaromeo.com
😉

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Show answer

Carlos@Typvonseite

10Mon

I have been invested since the beginning of the year.
However, since the last half-year figures I'm a bit ambivalent. Operations are going quite well, I would say. However, I'm a little bothered by the special remuneration for family members (see H1 2024 report) and the high payout from the last exit (due to Italian withholding tax).
I mean, I'm giving them my money so that they can invest it and not pay it out to me again.
Nevertheless, I see great potential in the company, otherwise I wouldn't have invested. I just wanted to make these two points clear, as Jonathan's article is written very positively.

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