Samer Hakoura: Ashtead Group $AHT Deep Dive

Nov 25, 2022

In this conversation, Samer Hakoura, Founder of Alphyn Capital and experienced investor, shares his insights on Ashtead Group, exploring its competitive advantages and growth potential. He recounts his unique journey from managing a Caribbean supermarket to navigating public markets. Listeners gain valuable perspectives on unit economics, the impact of debt, and the dynamics between Ashtead and its competitor, United Rentals. Samer's reflections on investment strategies and the importance of due diligence offer a compelling overview for aspiring investors.

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ANECDOTE

Samer's Background

Samer Hakoura's background includes investment banking, business school, and real estate.
He managed a Caribbean supermarket, growing and selling it successfully.

ANECDOTE

Caribbean Supermarket

Samer's father's friend had a bankrupt supermarket in Turks and Caicos.
They saw potential due to the island's rapid growth and significant land area.

INSIGHT

Hands-On Learning

Running a supermarket provided valuable experience in capital allocation.
Real-world experience is more impactful than theoretical knowledge from books or MBAs.

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Please enjoy our conversation with Samer Hakoura, Founder of Alphyn Capital.

We covered everything that an investor needs to know about Ashtead Group (LSE: $AHT), whether it is Ashtead’s history, what is their business, Ashtead’s Competitive advantages, its unit economic, value and why they still have future margin expansion and revenue growth.

Plus, Samer shares his investment journey such as how did he manage to run a Caribbean Supermarket and and what could possible go wrong with his Ashtead Investment.

Check out the time-stamp below:

[0:00] Who is Samer Hakoura?
[2:50] Running a Caribbean Supermarket
[8:00] Synthetic Leverage
[12:20] Ideal Investment
[14:40] Differences between private investing and investing on the public markets?
[16:20] Ashtead Group (LSE: AHT)
[19:00] Due Diligence
[22:00] Ashtead’s History
[33:30] Ashtead’s Unit Economics
[38:40] Competition: United Rentals vs Ashtead.
[50:00] Ashtead’s Exposure to the Macro Environment?
[59:00] Why Ashtead has so much debt?
[1:01:20] The Bear Case for Ashtead?
[1:07:00] More from Sam and Closing Questions

If you like what you heard, follow Samer on Twitter @SamerHakoura.

Finally, a big thanks to the following sponsors for making the podcast a reality.

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