Nordic Investment Partners
Welcome to Nordic Investment Partners
About Nordic Investment Partners
Nordic Investment Partners was founded in 2017 by Ole Søeberg. Ole has a broad and long experience in global equity markets since early 1980's. He has been in investment banking, Investor Relations in large corporates and Asset Management and in various leadership roles.
Nordic Investment Partners functions as a family office. However, being a long term investor there's time for other activities such as;
Advisory, research and consultancy is provided within
Investment inspiration and education for investment funds and family offices. Focus on wealth preservation and growth using GARP and deep due diligence. External roadmaps are provided free on a quarterly basis. You may ask why to provide work that takes hours to make away for free. Well, they serve many purposes and over the years they have worked quite well and also stimulated my passion and curiousity around the investmentment world.
Introducer for Brock Milton Capital Link
Global long only, concentrated portfolio of 30-35 companies. High quality 'champions' and a smaller section of 'special situations'. Growth without overpaying.
Since inception in 2014 the fund has returned 15% per year (in SEK) and 3% better than MSCI World. The fund's founder Andreas Brock has made this book for better insight in the investment thinking
Nordic Value investment learning and inspiration 'not-for-profit' conference for experienced equity investors. Check the Nordic Value tab for more
Contributor and/or speaker at Børsen All-Star team, Cyprus Value, ValuEspana, ValuX, Miilionærklubben, MOI Global and SumZero and other. Investor idea sharing and always good education and inspiration
Reach out if you're interested knowing more.
You can reach me on ole.soeberg@nordic-investment-partners.com or via the contact box
On this website you find
Investment roadmaps and quarterly updates for inspiration and education only
Nordic Value Conference - a conference for investment entusiast sharing investment ideas. More on Nordic Value section on this site
Pitches and illustration for investment proces for a single company
Monthly observation
Nvidia is not 'leverpostej' - the default of growth normalization in quality growth companies
12 September 2024
When I worked in Alfred Berg we used a forecast model with specific estimates for a few years out and then a steady glidepath towards 3% revenue growth for the longer term. Once done all the future data was used to calculate net present value of the cash flow stream. All fine, but the reality do not work like that.
I was in Børsen Investor Podcast yesterday and among others we talked about Nvidia. Current consensus is for 106% revenue growth in 2024, which falls to 6% growth in 2028. EPS in the same years goes from 2.84$ to 5.20$.
Nvidia trades at 115$, so on 2028 numbers it's a 'leverpostej' stock. Leverpostej is a very common traditional Danish lunch bite. Grey and a bit boring and doesn't stand out.
I don't think Nvidia will be leverpostej in 2028. It's much more. Technology lead, solid leadership, strong market position and super strong financials. The AI user market will be like the software market, which in many forms and shapes generate 700 billion $ in revenues. AI will make that pool much bigger and Nvidia has the tools to get there.
Other sections in the podcast covers the coming FED and ECB rate cuts which will fuel a continued bull market. And I think that by the end of 2024 S&P500 will be just below 6.000 from the current 5.600 level.
Data (not in podcast) is for EPS 2025 275$ and a 22x multiple, which is justified by 3.5% 10-year rates and earnings growth of 12% in 2025 and 2026.
2027 is for starters (the Alfred berg glidepath method) 6% earnings growth and with 3.0% 10-year rates it should be trading at 20x or 6.700 on S&P500 by end 2026.
Link to podcast (in Danish)
https://open.spotify.com/show/5X8eY66OetwPMCAy8S5z9j?si=1de9b74b25c246b2
Contact
Nordic Investment Partners is owned by Ole Søeberg. More on LinkedIn
info@nordic-investment-partners.com
Fell free to reach out via the boxes below: