Philipp Haas
Founder of Haas invest4 Innovation Fund, Creator of investresearch
Dino Polska is a boring Polish supermarket chain quietly compounding capital, now trading at what may be its most attractive valuation in years. It is founder-led, vertically integrated and expanding into underserved towns. That combination raises the question of whether this defensive retailer can deliver 20%+ annual returns. x.comÂ
Alfamart looks attractive at under 9x forward earnings on the pullback for one of Indonesia's top blue chips. The attached valuation table shows roughly 9.2x 2027 earnings and cash exceeding debt. x.comÂ
Ahold Delhaize stays in a portfolio that finished a grinding quarter up over 25% year to date. x.comÂ
Casey's General Stores is a quiet compounder built on roughly 2,900 local monopolies in rural Midwest towns too small for rivals, where fuel draws traffic and fresh pizza earns the profit. About half its stores sit in towns under 5,000 people, and it is the fifth-largest US pizza chain. Inside margins run 41-42%, FY2025 revenue was $15.9 billion, and recent EPS grew 14-20%. It plans about 500 more locations over three years and has raised its dividend for 25 straight years. x.comÂ
Ingles Markets is not just a grocer but part retailer, part manufacturer and part real estate company. That combination protects margins in thin-margin grocery, reduces reliance on suppliers and landlords, and creates long-term asset value. x.comÂ
Dollarama is too richly valued to own despite its dominance in Canada and decades of solid execution, even near a 52-week low and after Stifel's upgrade to buy. It makes a competitive business work by offering unbelievable deals versus other stores and Amazon. x.com x.com x.com x.comÂ
