With a delay of a few calendar days against the original 2023 year end target, I am very happy to conclude the “All Norwegian Stocks” series with the final “Top 20” Watchlist.
Overall, I was somehow a little bit underwhelmed by the Norwegian stock market, at least it doesn’t offer that much of what I am interested in.
From the 270+ stocks, there is a large share of what I would call “listed early stage VC companies” that have been IPOed in the last 3 years. These companies have normally little sales and little cash left but high losses. If you pick the right one, one could make a bundle, but most of them will disappear into bankruptcy sooner or later. This is not my game. Then there are something like 40 different Sparebanken, many Shipping companies and Fish farmers that have business models where I am not 100% comfortable either.
I still managed to collect 20 stocks that I find worth watching going forward, In contrast to for instance the “All Swiss” series I didn’t find any company that I felt the urge to directly invest into (besides my portfolio holding Bouvet).
Final Top 20 Watch list
Without further intro, here are the 20 stocks that I decided are worth watching going forward (on top of my portfolio holding Bouvet ASA):
If you ask me what the scientific basis behind the selection is, I don’t have a good answer. The final sele ction was a very subjective walk through.With “Deep Value Driller” I actually selected a stock that I initially put on “pass”.
So what’s next ?
As I have teasered a potential new taregt country a couple of time, again with little Intro my next target: Belgium.
Why Belgium ? The reason is simple: Over the past 13 years, I covered quite a lot of Belgian companies and I was always surprised, how such a small, unspectacular country can create so many interesting companies. There are a lot of companies that I wanted to look at anyway or again, so Belgium it will be. Via the three relevant segments (Euronext, Growth, expert makret) Belgium has around 215 companies, which I think is a realistic target to finish in 2024. For the “Expert Market” however, there seems little information available, so let’s see ho that will work.