10 years of buy-side investment experience.
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My work consists in procuring investment situations for clients where the estimated monetary value of a quoted financial security is significantly higher than its market cost; thus establishing a margin of safety in investments that allows for market outperformance and a lower risk profile in the long term. During this time I have successfully identified and invested in inefficiently priced financial securities that with few exceptions have outperformed global equity markets.
My experience is further divided into two types of investments:
1.) General Equity Investments: Investments in companies whose true value is unrecognised by equity markets.
+Asset Value. Shares of companies selling for much less than their net asset value, liquidation value or those that have substantial hidden assets.
+Earnings Power Value. Shares of companies selling for much less than their cost of capital times their earnings, normalised earnings or their earnings potential.
+Great businesses at great prices. Shares of companies with excellent ROIC levels and competitive advantages selling for a price unreflective of such characteristics.
2.) Special Situations: Financial opportunities characterised by an unlocking of value via a complicated or uncommon financial structure that tend to be disregarded by market participants.
To realise the aforementioned investments, I read a great number of financial documents, reports and news articles daily and analyse and model my findings. While doing so my strategic framing and approach is two-fold:
+ Defensive Strategy: Monitoring and analysing the composition of the client’s securities portfolio and acting accordingly when the estimated value of a financial security changes.
+ Offensive Strategy: Exploring the global marketplace in search for investment opportunities, analysing them quantitatively and qualitatively and comparing them to the client’s opportunity cost (i.e. cash, current portfolio positions or other potential investments).
I am currently a rising Senior in the Gabelli School of Business at Fordham University, pursuing a Major in Finance and Minor in Mathematics. I possess a passion for the capital markets and am interested in pursuing equity research.
I currently work at UBS Financial Services as an Asset and Wealth Management intern, under the Vice-President of Wealth Management in the Bell and Levitt Group.
Tom Waldo has several years of combined industry experience as a mechanical engineer in the Houston petro chemical space as well as equities research and energy trading. He is currently attending the Masters of Finance graduate program at Texas A&M University.
After a trial period writing for SA, it appears that the editorial policies favour short-term view articles with little relevance with the valuation of the company. To maximise my gains, I would have to write shorter non relevant articles. I am not going to do that, so I guess this is goodbye.
Well, that was fun while it lasted !
Jennifer Coombs has a decade of experience in the finance and investment world, with a variety of titles and investing functions. At present, she is an Associate Professor (Investments) at the College for Financial Planning. Additionally, she is currently the Founder & CEO of GradMoney (http://www.gradmoney.org) an investing education service directed at simplifying the stock analysis process for young adults and novice investors.
Prior to relocating to Colorado, Jennifer served as the Head of Campus Outreach as well as a Contributor Acquisition Manager for Seeking Alpha in New York City. Prior to that, she worked as a Senior Equity Research Analyst at Wall Street Strategies, Inc. where she was responsible for the technical and fundamental analysis of the entire stock market for recommendations to individual investors, while also publishing daily economic analysis for the general public. Prior to this, she worked on the buy side as an Associate Equity Research Analyst covering the transportation sub-sector of industrials at AIG SunAmerica Asset Management Corporation. Jennifer also covered Real Estate Investment Trusts (REITs) and has done broader research for the industrials, financials and consumer sectors. Prior to joining their research department, Jennifer worked as a Trading Assistant, actively responsible for SunAmerica's index funds valued at over $7 billion. She also worked as an intern in the client portfolio management department at Dwight Asset Management Company - a fixed income subsidiary of Goldman Sachs.
Jennifer graduated with distinction (cum laude) from Clarkson University where she earned a B.S. in Financial Information Analysis and Political Science, with minors in Economics and Law. Jennifer has a unique knowledge of international markets, and also studied East Asian Economics at Sungkyunkwan University in South Korea and has also lived and studied in France. Jennifer is a former member of the New York Society of Security Analysts (NYSSA).
Joshua Kim is a junior at Texas A&M University in the Honors Finance program. He is heavily involved in both financial and entrepreneurial organizations. In 2013, Joshua founded a 501(c)(3) non-profit which spans the Dallas, TX metroplex in its operations and partnerships. His other interests include reading, rowing crew, and playing squash.
Stock investors are always asking what is the catalyst for value to be realized? I originally thought like this which lead me to take too much risk. I now focus on being patient, controlling risk, and minimizing permanent capital losses. These steps have lead to significantly better returns. Even when there is no clear catalyst, an undervalued stock is eventually its own catalyst.
I think the benefits of communicating on Seeking Alpha are enormous. Many times I have a strong financial view of a company but do not understand the specific industry or industry competitive dynamics. I can often interact and read insightful comments from engineers, scientists, and technology experts. These experts offer great free advice and I try to add value in my specific areas of expertise. One area that I have been specifically helped is the energy sector.
While some investors are very negative of people who short, I view shorting stocks and posting factual information as noble. The focus of course is on truthfulness and accuracy of this information. Anyone who is posting rumors, lies, or other unscrupulous behavior (long or short) to manipulate a stock should be prosecuted to the fullest extent of the law.
I graduated from the University of Arizona in 2002 with a BS in Finance. From 2002-2006 I worked in the Wealth Management Group at Bank of America. I left Bank of America to manage family/friend money in long/short equity strategies. I also helped start-up two internet retail businesses.
I don't post much on twitter but think it is another great resource. I can be followed at https://twitter.com/jrhUofA
I currently live in Phoenix, AZ. If you live in the area and are a serious investor, please send me a note as I would be happy to meet and exchange our best ideas.