Copperfield Research

Short only, long/short equity, momentum
Copperfield Research
Short only, long/short equity, momentum
Contributor since: 2011
comparing the expression of an opinion, supported by well researched facts and analysis, to a terrorist group is shameful and warrants no response. If you disagree with our thesis on BBSI, then buy more or refute it. Differing opinions are the foundation of our capital markets, and lambasting opinions that do not conform to your own as comparable to "the ISIL terrorists" is disgraceful. Shame on you for such an ugly and inappropriate comparison.
Liquidpaper is correct, there was an error in our calculation of the HH "opportunity." While we believe the mistake is immaterial in the context of our entire report/opinion, it was a mistake nonetheless and needed to be acknowledged. Thank you for the feedback and we apologize for the delay in responding.
a copy of the full report is at the following link:
www.scribd.com/doc/513...
A PDF of our report can be found the following link:
www.scribd.com/doc/513...
ozzfan1317, thanks for the question. We meticulously documented our sources if you read the document. EBIX shifted 77% of their income to their foreign operations (mostly India and Singapore). EBIX generated 75% of their revenue in the US. The carryovers play a smaller part in EBIX's tax situation today (although this has been a source of earnings manipulation as documented in our research).