Presentation on why European stocks are attractive, Inditex, and SOBI; Two tweets about China; Funny meme; Flying my drone

1) Continuing my coverage of the best ideas I heard at last week's Value Investing Seminar in Trani, Italy, I wanted to share this presentation by Christoph Hilfiker of Liechtenstein's Landesbank. In it, he first makes the case for why European stocks are more attractive than U.S. ones in these two slides:

Hilfiker then pitched two stocks. The first was Spain's Inditex (ITX.MC), the world's largest apparel retailer via many brands, the largest of which is Zara. Here are two of his slides on it:

Hilfiker's second idea was Swedish Orphan Biovitrum (SOBI.ST), a biopharmaceutical company that focuses on rare diseases in two main therapeutic areas: hematology (blood diseases) and immunology (science of the body's defense mechanism). Here are three of his slides on it:

2) Below are two tweets I sent earlier this week to my China e-mail list (to join it, simply send a blank e-mail to: china-subscribe@mailer.kasecapital.com):

The first highlights China's ailing real estate sector:

The second shows how China benefitted from the "Great Moderation," characterized by "abundant/cheap access to goods, energy, and labor," but "those ships have likely sailed."

3) It took me a second to get it, but this meme cracked me up (highlighting the woes among many venture capitalists who invested in now-worthless crypto companies):

4) I brought a Mavic 3 drone (the same model of which I've provided 234 to the Ukrainians as part of my humanitarian mission) on this trip, and I'm having lots of fun flying it:

Here's a video from earlier this week when I was flying it at the Swan boatyard in Jakobstad, Finland... and here's a video and photo from Wednesday in Ulvön, Sweden, a picturesque island town:

Best regards,

Whitney

P.S. I welcome your feedback at WTDfeedback@empirefinancialresearch.com.