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One of the main reasons I dare to have a such large share of our net worth invested in one company is the following sentence on page 2 in the latest quarterly report (it has been a similar wording for quite many quarters now): "Betsson co-operates with a state-owned Chinese company for the Internet-based lottery and sports betting business. The expected regulation for Internet-based lotteries in China has not yet been introduced. Betsson has a continued positive outlook on the market’s future potential."

Why are not the analysts asking questions about this in any of the conf calls? It just eludes me. "Everybody" can calculate roughly the effect of the Europe-bet acquisition, but judging when (or if) China might materialise is much harder, even more so without any further information than the sentence above. The closest they came today was Brazil, interesting, but still not China and where Betsson clearly have done much more and for much longer.

This is where one example where I just feel that the analysts are fairly short-sighted, whereas if you have the guts to have your own sound reasoning and hypothesis-making, then one can do quite well in a long-term perspective.