📊 Giles Capital Weekly: Week 14

This week's edition covers:

- Write-ups on Salesforce, Crocs, Judges Scientific, Zoomd Technologies, and 10 more companies across 3 regions

- Articles on reverse DCFs, uncertainty bias, quality compounding, and the photonics supply chain

- Fund letters from GMO, Artisan Partners, Ariel, and 4 more value managers

Top picks:

🇮🇱 Zoomd Technologies (ZOMD V): 3.8x P/E adtech platform with $18.3M net cash after client spending pause

🇺🇸 Crocs (CROX US): 6.7x adjusted P/E generating $659M free cash flow at 58% gross margins

🇺🇸 MarineMax (HZO US): 0.57x book with activist's $35 all-cash bid on the table

🇬🇧 Judges Scientific (JDG LN): Serial acquirer 50% off highs, £50M acquisition firepower ready

🇯🇵 Silicon Studio (3907 TYO): 4.4x EV/EBIT, cash equal to 65% of market cap