Value investor at heart and credit analyst by training/profession.
Having been an investor and credit analyst for the past 7 years, I have been and continue to be passionate about value investing and similarly, I enjoy engaging in a deep dive analysis of companies.
Without any qualifications and experience, I managed to convince Temasek Holdings' credit investment arm: ST Asset Management, of my passion and join them in 2007. During the 6 years span there, I was instrumental with their investments in global structured products and was also entrusted to manage two structured credit portfolios of over USD 500 mn. Notable achievements include firm-wide record return (IRR) of 84% in a distressed debt investment and the structured credit portfolio under my coverage returned 26% in 2012.
In 2013, after having read an incredible sample report (see HeidelbergCement report below) from Lucror Analytics, an independent research firm with a focus on High Yields, I decided to join Lucror to work with the best credit analysts (Felix Fischer, Head of Research and Charles Macgregor, Head of Asia) I've ever come across. Charles and I are developing the Asian coverage for Lucror, which had focused purely on European High Yield earlier. Lucror covers over 100 names in European High Yields and over 40 names in Asian High Yields at the moment. Please visit our website at www.lucroranalytics.com for more details.
I'm excited to discuss and exchange ideas about any names in the Asian High Yield markets (for work) as well as any global stock ideas for value investing (for personal).
As a lifelong learner, I read lots of books, especially in the topics of value investing and cognitive biases. I am always keen to gain new knowledge and insights and look forward to exchange ideas and books with like-minded people.
Alex is an equity research analyst at Granite House Capital Management, a value oriented long/short hedge fund based in Boston. In May 2013, Alex was the feature of a Forbes Magazine article titled, "Meet One Of The Youngest And Brightest Hedge Fund Analysts That Isn't On Wall Street." He started investing in the stock market at age 10 and payed for college by working as an analyst for a Minneapolis based hedge fund. He focuses on the investing methods of great investors such as Warren Buffett. Alex looks to differentiate himself in the industry through persistent hard work and continuous learning. He is the youngest ever admitted member of the SumZero buyside network and was one of 14 buyside analysts in nation to be named to the 2012 SumZero Buyside Analyst Honors which was published in the Wall Street Journal as part of the 'Best on the Street' column and CNBC. Over 8,000 analysts were considered and he had the second highest return on the list. He was featured in the biography of investor Warren Buffett in a book called "Of Permanent Value: The Story Of Warren Buffett,". He maintains a blog called "Alex Bossert's Thoughts On Value Investing" with over 550 subscribers and over 300,000 site views. His work has been syndicated on Yahoo Finance, Google Finance, SeekingAlpha, and GuruFocus.
Linkedin Profile: http://www.linkedin.com/in/alexbossert
I am a journalist with more than 30 years of professional experience in newspapers, magazines, and higher education. I am based in Alabama and write the blog Legal Schnauzer, which focuses on justice issues in the South and beyond.
I look for opportunities to invest where the expected value is sufficiently greater than the cost to invest and look to invest the appropriate portion of the total funds available. To make a gambling analogy, a highly favorable investment would be one where you could invest $1 on a flip of a coin and receive $10 if it flipped heads and lose only $1 if it came up tails. However, you would not want to invest all of your funds because you would be broke if the coin turned up tails. Thus, the goal is to find investments where the edge is sufficiently large and then invest the appropriate portion of the funds. The Kelly formula provides a theoretical basis for the appropriate percentage of total funds to invest in a single opportunity.
However, in the real world, the precise odds are rarely known. Thus, I seek to develop the ability and obtain the knowledge to calculate the odds with a degree of accuracy, and conservatively enough, to be able to make intelligent invesments.
With regards to equities, which I have primarily invested in, I seek to understand the economics of the business so as to evaluate its potential for long term success or failure. I seek to use this understanding, along with an examination of its financial statements, to determine if the company is undervalued or overvalued. I may then decide to go long undervalued companies and I may decide to short overvalued companies. My preference is to find companies to purchase, rather than to short.