EVENTS:   The Roaring 2020s or a Rerun of the 1970s? - Edward Yardeni/Yardeni Research - 24 Mar 26   Best Equity Short Ideas Conference Call 13 - Thomas Chanos/Badger Consultants & Dr. Aaron Fletcher/Bios Research & Jonathan Telgener/Channel Dynamics & Ed Steele/Iron Blue Financials & John Zolidis/Quo Vadis Capital & Mark Hiley/The Analyst - 26 Mar 26     ROADSHOWS: Chinese Equity Ideas & Channel Checks Across 50 sub-sectors - Don Ma /Horizon Insights   •   London   23 - 27 Mar 26       Long Short European Equity Research - Harry Grist /The Analyst   •   New York   26 Mar 26       Fundamental US Healthcare Short Ideas - Dr Elliot Favus /Favus Institutional Research   •   London   27 - 27 Mar 26      
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AIR’s portfolios outperform (again)

AIR Capital

AIR’s Top 10 European Best Ideas portfolio has outperformed the Euro Stoxx 50 by a whopping +241% since launching a decade ago - the portfolio was +28% in 2021 (+23% in 2020 and +32% in 2019). Meanwhile, AIR’s Top 5 Swiss Best Ideas portfolio has also had a stellar start, having launched in Jan 2020, it has outperformed the SMI Index by +44%. One stock that Pierre Essig is particularly keen on at the moment is Spanish Auto Supplier CIE Automotive. At 10x 2022 Earnings, CIE appears massively undervalued when looking at its strong growth profile, profitability vs. peers, risk management and execution. Pierre recently increased his target price to €45.00 (75% upside).

Edition: 129

- 18 February, 2022