Archive - Coughlin Capital

Markel Ventures (MKL) — Unpacking Lansing Building Products

How a 70-year-old family distributor became Markel’s billion-dollar building materials play—and why most investors have never heard of it.

Jun 18 •

Niche Travel Biz at 6x EBITDA, 14% FCF Yield

11x P/E, 14% FCF yield, 118% membership growth, and a buyback program that’s actually meaningful

Jun 14 •

Tencent One Pager

Founded in 1998 by Pony Ma and four college classmates, Tencent began as a knockoff of ICQ called OICQ.

Jun 11 •

Fairfax India (FFH.U) — BIAL Catalysts & Outlook

Assessing Fairfax India’s airport monopoly in Bengaluru and the market’s mispricing.

Jun 7 •

3 Stocks I’m Watching This Month

A new monthly series: Watchlist with commentary

Jun 2 •

May 2025

Portfolio Update — June 2025

YTD: +12.08%, 1Y: +18.30%

May 31 •

Why I'm Avoiding (Most) U.S. Equities

History Doesn't Repeat, But It Sure Rhymes

May 28 •

4.3x EBITDA, 7.5x P/E — 50% of Market Cap is Cash

Sometimes, a great business gets so ignored that over half its market cap is just sitting in cash—and the rest of the company, the part actually growing…

May 24 •

Fairfax India (FFH.U)

At a recent price of about $18, Fairfax India trades at a 10% discount to book value of about $20 per share.

May 19 •

Cheap Conglomerate at 3.6x EBITDA and 4.9x FCF

Every so often, the market serves up a valuation anomaly that's simply too compelling to ignore.

May 14 •

Burford Capital One Pager

Founded in 2009 by attorneys Christopher Bogart and Jonathan Molot, Burford Capital has emerged as a trailblazer in the niche field of legal finance.

May 9 •

Coupang — A Moat That Keeps Widening

Coupang just reported strong Q1 2025 results that showcase its growing dominance in Korean e-commerce and steady progress in newer ventures.

May 7 •

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