Crossroads Capital’s Ryan O’Connor thinks Japanese consumer entertainment business Nintendo is one of the world’s most undervalued businesses, and the company’s shares could generate a 30%+ IRR “for many years to come.” O’Connor is so optimistic on Nintendo’s outlook that he has made it his largest position at Crossroads Capital and believes that it could represent as much as 25% to 35% of the fund if “the business continues to perform, and its share price doesn’t.
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O’Connor lays out his Nintendo thesis in Crossroads’s full-year 2018 letter to investors, a copy of which ValueWalk has been able to review.
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