Archive - Hugo's Investing Notes

Concentrix – Same Old

It all hinges on margins

Mar 25 • Hugo Manenti

War in the Middle East – A Follow-Up

Energy, defence, infrastructure – opportunities hiding in plain sight

Mar 11 • Hugo Manenti

FY25 earnings confirm momentum on both sides of the business. Thesis affirming.

Mar 10 • Hugo Manenti

Concentrix: AI Roadkill or Deep Value?

AI narratives have made CX the most hated sector on Wall Street. Yet, CNXC's growth is accelerating. At 2.7x EPS, is this the most asymmetric play…

Mar 5 • Hugo Manenti

War in the Middle East – The Strait of Hormuz

Europe and Asia are in the Firing Line, U.S. Structurally Advantaged

Mar 2 • Hugo Manenti

February 2026

IWG: Return to Office

IWG is the key beneficiary of the trend towards flexible and decentralised workspaces. At only 6x EBITDA, the stock is an overlooked opportunity.

Feb 26 • Hugo Manenti

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