Bleecker Street Research
Long/short equity, special situations

Emeritus Corporation: Reckless Growth And Chaos Is The Real Story

Emeritus Corporation (NYSE:ESC) is an operator of senior living communities in the United States. Emeritus operates a portfolio of communities, which are purpose built for services including assisted living, specialized (Alzheimer's and dementia) care, and in-home nursing. The story here is good, baby boomers getting older will seek out senior living and Emeritus is well positioned to capitalize from this trend. The true story, however, appears much darker.


Emeritus Corporation reminds me of the for-profit education sector. Back in 2008 and 2009, many who found themselves unemployed went back to school to improve their chances of re-entering the workforce and improving their earning power. Investors quickly caught on to this trend and looked for profit in education...

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details