Sam Antar is a convicted felon and a former CPA. As the CFO of Crazy Eddie, Mr. Antar helped mastermind one of the largest securities frauds uncovered during the 1980s. Today, Sam Antar is a forensic accountant. His primary work focuses on identifying and investigating public companies engaged in securities fraud by examining their accounting practices and performing an in-depth (deep-dive) financial analysis. His clients include law firms, research firms, hedge funds, and certain other entities. He advises law enforcement agencies and professionals about white-collar crime and trains them to catch the crooks. His views on white-collar crime are frequently quoted in the print news media, online news media, TV media, professional journals, books, and blogs. He has appeared on Fox News, Fox Business Channel, WSJ Live, CNBC, Canadian Broadcasting Corporation, Canadian Business News Network, National Public Radio’s Planet Money, Progressive Radio Network, Reuters TV, RT News, and other media outlets to give insights on white-collar crime. His articles have been published by Business Insider, CNBC, Newsweek, Seeking Alpha, TalkMarkets, and other publications.
Former buyside analyst now running my own fund for accredited investors. If you find my articles balanced and interesting, feel free to reach out - always up for a conversation. Things to know:
1) I research a lot of companies, but invest in very few. My goal on SA is to provide analysis, particularly of small and underfollowed companies, that readers can use as a starting point for their own research. When you read my articles, please understand that I try to present a high-level look. It's up to the reader to determine if it's the sort of situation that is worth monitoring. Note that I usually try to err on the side of conservatism, so just because I'm not enthused by a particular investment candidate doesn't mean you shouldn't be.
2) I appreciate comments whether you agree with me or not - especially in cases where I might be wrong, I'd like to know why! If you happen to be a particular expert on a topic and are interested in discussing it further, please shoot me a direct message. I would love to chat. Or if, you know, you're just a lonely value investor who wants a friend. Jokes aside, I've made lots of great friends through SA and am always open to talking.
3) If you enjoy reading my work, in no particular order, you might also enjoy reading fellow SA authors Vince Martin, Stephen Simpson, Brendan Rose, Brian Grosso, Bumbershoot Holdings, Adib Motiwala, Jeremy Raper, Investing 501, and Ted Barac. Most of them have professional investment expertise and the ones who don't are equally insightful. Like Amazon recommendations, not all of these will be perfect, but if you're new to SA, it's as good a place as any to start!
All the usual disclaimers apply... articles are provided for entertainment purposes only, interpret everything as opinion rather than fact, do your own due diligence, this is not an offer to sell securities, forward looking statements are not made using a crystal ball, etc. Most importantly, I will reiterate that everything I write is an opinion; analyzing stocks is inherently subjective and two reasonable people can come to different conclusions.
Bumbershoot Holdings L.P. is a private investment partnership launched in Oct-2015.
The partnership uses a fundamental investment strategy as a “quality over quantity” approach to identifying and evaluating great businesses. It primarily invests in small- and mid- capitalization public companies which are headquartered in the U.S. and listed on a domestic exchange. It maintains a relatively concentrated portfolio with approximately 60%-75% of assets in its top-15 holdings. The partnership utilizes low levels of leverage and hedges net long exposure through various short positions and equity derivatives, as dictated by overall market conditions.
I am a Special Situations/Value Investor, I invest in Relative value arbitrage situations, Bankrupt and Distressed situations, I have 20 years Experience as a bankruptcy/ legal consultant, Financial/ White Collar Fraud Investigator.
Best investments include (GGP) General Growth Properties (HPY) Heartland Payment Systems (WMIH) Washington Mutual Inc. (NFLX) Netflix, I am currently Long Republic Airways (RJETQ) Fannie Mae (FNMA) Sears Holdings Inc. (SHLD) Sears Holdings Inc/Warrants (SHLD.WS) Pershing Square (PSHZ) I am short Herbalife (HLF)
I am a partner in Hong Kong based GFM Group that provides investment research to professional investors and capital markets training to finance professionals.
I also manage a private investment firm called Lexington Wall Partners that invests in value and special situation opportunities globally.
I have nearly 20 years of experience in finance, having held capital markets and corporate finance positions in New York, London and Hong Kong. I hold two masters degrees in finance from London Business School and Asian Institute of Management / McGill University.
I am a believer in value and special situations investing. I am a bottom up investor, and tend to look for "low risk, high optionality" type of opportunities. For me, risk is permanent loss of capital, not volatility or temporary drawdowns. I also tend to gravitate towards moderate concentration with 15-20 positions. I avoid margin leverage, try to keep my turnover below 15%, and express my positions through stocks, bonds or listed options.
My edge comes from three sources.
a) Having an investment holding horizon of around 5 years, which gives me the benefit of lower investor competition.
b) Deploying unleveraged sticky capital which gives me enormous staying power and an edge over mutual and hedge funds who manage shorter term capital in general.
c) My ability to deploy both my corporate finance and trading experience in evaluating an opportunity, which sometimes enables me to find obvious mispricing.
I believe that investing successfully is like running a marathon. Its a result of hard work, Charlie Munger's "worldly wisdom" and luck. Its a discipline where experience is cumulative - I make better decisions than I used to, my learnings from the past strengthens my current research.
My heros are investors like Joel Greenblatt, Mohnish Pabrai, Marty Whitman, Charlie Munger and of course, Warren Buffett. I admire not just their investment acumen but also their generosity in educating the world in the craft of prudent investing.
My LinkedIn profile is hk.linkedin.com/pub/anand-batepati/0/558/736/