I'm back! In this article, I dig into Kaspi, the largest technology business in Kazakhstan growing 20%+ with 40%+ net income margins, trading at 7x forward P/E. I bought shares earlier this month.
My understanding after talking to people from Kazakhstan is that without Kaspi life there would suck a lot.
High quality business led by a competent team, trading cheap/reasonably. Terry Smith would approve.
Kazakhstan business environment is more developed than people realize regardless of the “stan” in the end, bordering Russia, being in the neighborhood of Iran and Afghanistan. It sounds more exotic than it is.
Nice write-up! Thanks!
My understanding after talking to people from Kazakhstan is that without Kaspi life there would suck a lot.
High quality business led by a competent team, trading cheap/reasonably. Terry Smith would approve.
Kazakhstan business environment is more developed than people realize regardless of the “stan” in the end, bordering Russia, being in the neighborhood of Iran and Afghanistan. It sounds more exotic than it is.
Thanks for the kind words and completely agree! I'll likely be adding more this month.
How do u like fintech in mid-south America other than Meli? Such as Nu and Intr?
Do u add dividend to ur irr model?