Value investor Mallika Paulraj presented her in-depth investment thesis on Dürr Group (Germany: DUE) at European Investing Summit 2019.
Thesis summary:
Dürr was established in 1895 and is known commonly for paint robots and assembly for the automotive industry. With customers such as BMW, Tesla, and Ikea, it has significant market share in industries with high barriers to entry. Although it is placed in a GICS automotive bucket, about half of revenue comes from non-automotive, general industry customers. With a market cap of EUR 1.7 billion, it is part of the German MDAX and Stoxx 600. The share price sits at a 60% discount to its late 2017 peak. The company has significant founder-family holdings and is financially stable. It appears poised to ride out the macro headwinds facing the automotive sector and German industry.
Listen to this session:
slide presentation audio recording
About the instructor:
Mallika serves as an investment coach for wealthy families and high net worth individuals. Her family’s painful past in learning to manage investments led her to create a long-term focused, value-oriented education platform. Throughout her career, the most elite investors have sought her out as a clear and sensible sounding board. Born in India, Mallika moved to Silicon Valley as a child. Graduating from Palo Alto High School and attending Stanford University in the 1990’s she worked for several startups and had a ring side seat of the rise and fall of the ‘90s tech bubble. Mallika is author of “”How the Best Invest – Make Decisions Like the Investing Superstars””.
Quantitatively trained, she began her career as a programmer in Silicon Valley and has worked at Lehman Brothers, Trucost (now S&P), MSCI Barra and several funds. She has worked in Wall Street and London’s The City. For ten years she worked in sustainability investing including renewable energy and governance issues. She has worked for a premier index investing provider and risk manager and has a good handle on how indexes are created and implemented. Mallika educates her clients through clear and practical measures based on timeless principles and long-term investing. She has been a guest lecturer at London Business School on value investing and Stanford University on sustainable investing. She is a Lecturer at the FINTECH Circle Institute.
Mallika has a BA from Stanford University, an MSc from the London School of Economics, and has completed the Investment Management Programme at London Business School. She was awarded the Women’s Club of Palo Alto scholarship for one graduating senior in 1993 and the Stanford Alumni Association’s Award of Merit in 2013.She is on the board, and past-President of the Stanford Club of Great Britain. She is on the board of the Stanford Angels Network UK. From 2015-17 she was a board member on the London School of Economics Alumni Committee
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