Kernow Asset Management's August Letter: 3.3X Return For Our Favorite UK Stock
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Another sunrise in Cornwall. Screens glowing, tea cooling. Peaceful. Millions of data points have spent the night behaving themselves.
Beep. 83.
I stare at the screen. I was expecting just eight basis points added to Burberry (OTCMKTS: BURBY) (LON:BRBY)'s Kernow Alpha Score. That cannot be right. I run it again.
83.
There is no escaping the implication. On our valuation framework, Burberry is now our best idea by some distance. Either we have found something unusual or, rather usefully, discovered a spectacular flaw in the model.
Burberry Is SpecialWe struggle to find a natural UK shareholder who could not eventually own it....
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