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John Bran
Posted: 21 August 2024 09:55:05(UTC)
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Decided the forum needs a early doors Amazon thread!
Okay it's often described as a south American ebay (on freetrade) also a South American Amazon.
What actually is both plus a version of PayPal and a decent stream of income from advertising.

There is loads and loads of articles on it including YouTube.
Just one
https://seekingalpha.com...-supersonic-growth-wave

From the above

Recent developments
MELI released its latest quarterly earnings on August 1, confidently surpassing consensus revenue and EPS estimates. Revenue growth accelerated once again with increasing YoY by staggering 49%. The adjusted EPS more than doubled, from $5.16 to $10.48.

The Friday that the market fell over a cliff it went up 10%. So the above was well received!
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Phil 2 on 21/08/2024(UTC), Johan De Silva on 29/08/2024(UTC), Sara G on 29/08/2024(UTC), Guest on 03/10/2024(UTC)
Johan De Silva
Posted: 29 August 2024 18:57:14(UTC)
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Had held this direct in the past for SIPP but is a top holding in Baillie Gifford funds including Positive Change fund in my my work pension scheme.

Earnings growth is impressive but factored in somewhat With a P/E over 70.
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Sara G on 29/08/2024(UTC), Tim D on 29/08/2024(UTC)
Newbie
Posted: 29 August 2024 19:55:41(UTC)
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Joined: 31/01/2012(UTC)
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I have MELI on Freetrade, T212 and eToro - currently hesitant to add large amounts small amounts are fine.

SOFI is on one I am currently looking at.
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Tim D
Posted: 29 August 2024 19:56:41(UTC)
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If I look in the market-cap weighted XSFR frontier market index tracker ETF, Mercadolibre is 9.5% of it and #1 holding (not sure if the index has a 10% holding cap or not).

If I look at BRFI (Blackrock Frontiers IT)... it's not mentioned in their last full holdings list (March 2024) and their sole bit of Argentina exposure seems to be 2.2% in Vista Oil and Gas.

Not sure if it's a deliberate avoidance/underweight (last BRFI annual report seems pessimistic about Argentina, except for energy exports) or just something about the incorporated in Delaware/listed on NASDAQ aspect that makes it out of scope for BRFI.

Time will tell which one's got it right.
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Old Jock on 05/09/2024(UTC), Guest on 03/10/2024(UTC)
John Bran
Posted: 04 September 2024 21:21:04(UTC)
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Tim D;317463 wrote:
If I look in the market-cap weighted XSFR frontier market index tracker ETF, Mercadolibre is 9.5% of it and #1 holding (not sure if the index has a 10% holding cap or not).

If I look at BRFI (Blackrock Frontiers IT)... it's not mentioned in their last full holdings list (March 2024) and their sole bit of Argentina exposure seems to be 2.2% in Vista Oil and Gas.

Not sure if it's a deliberate avoidance/underweight (last BRFI annual report seems pessimistic about Argentina, except for energy exports) or just something about the incorporated in Delaware/listed on NASDAQ aspect that makes it out of scope for BRFI.

Time will tell which one's got it right.


No dividend BRFI pays a 4% plus covered dividend.
A big holding for instance is Bank of Georgia pays a very good dividend.
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Tim D on 04/09/2024(UTC)
Tim D
Posted: 04 September 2024 21:51:56(UTC)
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John Bran;317995 wrote:
Tim D;317463 wrote:
If I look in the market-cap weighted XSFR frontier market index tracker ETF, Mercadolibre is 9.5% of it and #1 holding (not sure if the index has a 10% holding cap or not).

If I look at BRFI (Blackrock Frontiers IT)... it's not mentioned in their last full holdings list (March 2024) and their sole bit of Argentina exposure seems to be 2.2% in Vista Oil and Gas.

Not sure if it's a deliberate avoidance/underweight (last BRFI annual report seems pessimistic about Argentina, except for energy exports) or just something about the incorporated in Delaware/listed on NASDAQ aspect that makes it out of scope for BRFI.

No dividend BRFI pays a 4% plus covered dividend.
A big holding for instance is Bank of Georgia pays a very good dividend.

Good point. In the last BRFI annual report, they have this to say on yield:
Quote:
Whilst our investment objective is focused on capital appreciation, many of the companies in our portfolio distribute income. This revenue enables the Company to generate an attractive yield, an important component of long-term shareholder total return.

And searching the rest of the doc for "dividend" turns up a ton of mentions of how important they think it is e.g
Quote:
In addition, alongside capital growth, the Company’s dividend yield remains an attractive element of the Company’s investment proposition.
...
The Board believes that the Company’s unique investment offering, strong performance and an attractive dividend yield enhances demand for the Company’s shares, which should help to maintain the Company’s discount at as close to the underlying NAV as possible.
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John Bran
Posted: 05 September 2024 10:02:14(UTC)
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I have been tempted by BRFI for some time. Will probably make it small investment at first.
And miss out on its main share price growth!!
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Old Jock
Posted: 05 September 2024 11:19:23(UTC)
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I don't think MELI would make it into BRFI's available universe?

It's over $100bn market cap, also it's no longer an Argentine company - the head-office got moved to Uruguay for political risk reasons, also the legal domicile is Delaware and it trades on the US stockmarket. What this means for BRFI I'm not entirely sure.

They still operate businesses in South America, Central America, and Mexico but then so do Unilever, P&G, Walmart, Paypal, Amazon, etc, although maybe not as big a proportion of the total business.

PS I'm a fan of MELI and have a small investment - the CEO is a pretty impressive guy IMHO. It's at the risky end of what I'd normally invest in (hence the small investment) but taking calculated risk is how you make higher returns ultimately.
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Tim D on 05/09/2024(UTC), John Bran on 05/09/2024(UTC), Nigel Burkitt on 25/09/2024(UTC)
Tim D
Posted: 05 September 2024 12:04:56(UTC)
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Old Jock;318064 wrote:
I don't think MELI would make it into BRFI's available universe?

It's over $100bn market cap, also it's no longer an Argentine company - the head-office got moved to Uruguay for political risk reasons, also the legal domicile is Delaware and it trades on the US stockmarket. What this means for BRFI I'm not entirely sure.

They still operate businesses in South America, Central America, and Mexico but then so do Unilever, P&G, Walmart, Paypal, Amazon, etc, although maybe not as big a proportion of the total business.


Looks to me that BRFI classifies companies by "principal country of operation" (or "country analysis" in some tables). MELI revenues from Brazil plus Mexico seem to be over three times what it makes from Argentina. And BRFI explicitly excludes Brazil and Mexico (being in the top 8 EMs) from its universe. So yes makes sense MELI isn't on their radar.

(Hard to be sure from XSFR's data but I'd guess MELI must account for most of "S&P Select Frontier index"'s Uruguay exposure. BRFI don't seem to have anything in Uruguay at all although there's one mention in the 2023 annual report of their travels taking them there.)
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John Bran
Posted: 06 September 2024 13:05:59(UTC)
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Investor Relations Update

Fireside Chat with CFO, Martin de los Santos



MercadoLibre will be participating in the upcoming Goldman Sachs Communacopia + Technology Conference. Martin de los Santos, CFO, will participate in a fireside chat which will be held on Tuesday, 10/September 9:30 AM PDT.

We invite our investors to listen to this session by registering through the following link: register now

https://event.webcasts.c...41&tp_key=5ee501669b
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