Siegfried Holdings (SGFEF) is a Swiss generic manufacturer. The company bought BASF's generic division back in September. BASF (BASFY, BFFAF) is divesting non core assets. The new division should produce CHF 280 million of revenues in 2014. Some of the drugs that Siegfried produces includes: morphine, calcium folinate, Ketamine, and Certraline. As you can see, many of their produces are old school pain killers and anti depressants. You wouldn't want to get hooked on some of these drugs. The investing thesis goes something like this. The market cap is CHF 817 million. Sales for 2015 ought to be around that value (at the moment, the franc is at parity with the dollar). However, Siegfried's comparable peers trade at much higher valuations. When BASF's units are fully integrated, the Ebitda margins ought to be pretty high. If the company could do CHF 50 million in Ebitda, don't you think that the market cap should be well over CHF 1 billion? How about CHF 1.5 billion? Certainly more than CHF 817 million. We have been buying the stock for clients and are at a slight profit. The stock trades at CHF 197 a share and must be bought on the Swiss stock exchange. It's a little difficult to purchase. The Annual Report comes out in March which will give analysts more to look at. I will write more on Siegfried in the future but wanted to get this off before the new year. The company is off Wall Street's radar but won't be for long. I found it by perusing Tweedy Browne's holdings. They are a 10% holder. Take a look at Siegfried, it will be worth your while.