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What this is
This website and its content are general investment research, information and commentary, provided for informational purposes only. It is not personalised or individualised investment advice, and it is not an offer to sell or a solicitation to buy any security. It is not based on your personal circumstances and may not be appropriate or applicable for you.
Our research is prepared independently and objectively; we separate facts from our own opinions, estimates and price targets, and we name the main sources we use.
Your research, your responsibility
Please do your own research, and consult a qualified financial, legal or tax adviser before making any investment decision. It is your money and your responsibility, and only you know what is best for you. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.
Risk
The price and value of securities referred to on this website will fluctuate, and loss of all the capital invested in a security or strategy discussed here may occur. Past performance is not indicative of, nor a guarantee of, future results. Because of many factors and events beyond our control, actual outcomes may differ substantially from any estimates, projections or forecasts in our content.
Any investment decision made in light of the ideas, strategies or opinions on this website is made at your own risk, financial or otherwise.
Holdings, compensation and conflicts
The editor and related parties may hold positions in securities discussed. Where we hold a position in a security at the time of publication, it is disclosed.
We do not trade in any security we have written about in the 48 hours before or after publication, to avoid profiting from any movement around publication, which matters most for smaller companies with limited trading volume. The analyst is not affiliated with the companies reviewed other than, where stated, as a shareholder. Serendipity Ventures UG operates on a subscription model, and neither the company nor the analyst receives any compensation from issuers or third parties for the specific information, opinions, estimates or recommendations on this website.
Sources, accuracy and timing
This research is, to the best of our knowledge, based on generally accessible sources we believe to be reliable, but accuracy and completeness cannot be guaranteed and no liability can be accepted for errors or inaccuracies in information derived from those sources. All data, information and opinions are subject to change without notice.
For technical and other reasons, financial information on this website, including prices, may not be up to date; please check all information yourself, as we cannot be held liable for any loss arising from information that has not been updated.
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This website is not associated with Joel Greenblatt or MagicFormulaInvesting.com in any way. Neither Mr Greenblatt nor MagicFormulaInvesting.com has endorsed this website, its research, strategies or products. The investment ideas on this website are not chosen by Mr Greenblatt, are not based on his proprietary model, and are not chosen by MagicFormulaInvesting.com. Magic Formula® is a registered trademark of MagicFormulaInvesting.com, which has no connection to this website.
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Links to third-party websites
For information and reference only, this website may link to external websites. We provide such links as a convenience, and we have not verified the accuracy, reliability or timeliness of any information on them. A link is not an endorsement. Those websites are not under our control, and we accept no responsibility or liability for any loss arising from your use of, or reliance on, their content.
Who publishes this
This website is published by Serendipity Ventures UG (haftungsbeschränkt), a limited liability company incorporated in Germany. Registered address: Langbehnstr. 15, 22761 Hamburg, Germany. Telephone: +49 40 4146 6659. Email: [email protected]. The analyst responsible for the research is Tim du Toit.
Last updated: June 2026.