At the 2026 Sohn Monaco Conference, Angelo Meda, Head of Equities and Partner at Banor SIM gave a simple pitch. While several presenters reached for macro narratives and AI transformations to justify their ideas, Meda walked to the podium and described his investment in two sentences: the company is a quiet compounder, and the market’s fear of AI disruption has handed investors a rare chance to buy it cheaply. The talk focused on dismantling of two market concerns, AI risk and margin deterioration, followed by a straightforward valuation argument.
Meda joined the firm in 2003 as a financial analyst with the Ribofin team and became part of Banor SIM when the two entities merged in 2009. He holds a degree cum laude in Business Administration from Bocconi University and today manages the Banor SICAV Mistral fund alongside the High Focus managed portfolios. Banor itself, he noted, has grown consistently over its 25-year history, which is precisely the quality he prizes most in an investment target.
What It Does Actually Does
The stock is a roughly EUR 1.5 billion market-cap company listed in Italy with approximately EUR 1.6 million in average daily liquidity. The company runs two distinct businesses that began life as closely related but have since fully separated.
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