@hankreardonthanks very much for this detailed answer.Really...

@hankreardon
thanks very much for this detailed answer.

Really appreciate your feedback also on EGG. Agree on the industry which is not that easy. Reason also why I passed it several times. This time, I decided to go on it for 1 main reason : results much better than expected since Covid, mainly due to OB Media which has taken off recently. At the same time, it is a complicated case as they consider OB Media as non core.

I also appreciate your feedback on the market overall. I also find a lot of businesses which have really high free cash flow yield, in particular among discretionary consumption companies (non food retail, auto/moto, media).
It is scarce for me to find companies which are trading under NTA. But I like this idea to buy companies trading under NTA to play the inflationary trend.