Overseas Education Limited (OEL) is a pandemic recovery play. I bought shares after a friend told me about their big jump in school fees received in advance (“deferred revenue” for the software bros). OEL operates the Overseas Family School (OFS) in Singapore and educates the children of expatriates working in Singapore aged 2 to 18 years old. OEL was hurt badly by the pandemic. Revenue bottomed in 2022 and the stock is an attractive and defensive long for my portfolio. Singapore is an attractive place to work and live for many expatriates. With Singapore staying largely neutral in geopolitical conflicts, and OEL deriving 100% of revenue from Singapore, OEL could also be a hedge against any political tension in the region. This quote from the Lighthouse Advisors Fourth Quarter 2013 newsletter is one of the best introductions to date for Overseas Family School. “Overseas Education operates the Overseas Family School...