Mr. Axler is Founding Partner of Spruce Point Capital Management, a long/short hedge fund. Mr. Axler is also the co-founder of Prescience Point Research Group. Mr. Axler is an activist short-seller, forensic financial researcher, and has exposed over $1.0 billion of alleged listed frauds on Nasdaq and the NYSE. Prior to founding his company in 2009, Mr. Axler spent eight years as an investment banker with Credit Suisse and Barclays Capital where he structured and executed billions of dollars of financing, derivative risk management, and M&A deals for leading Fortune 500 clients. Prior to starting Spruce Point, Mr. Axler was an Associate Director at Barclays Capital in the Diversified Industrials Group. Mr. Axler started his career with Credit Suisse in 2000, where he held roles with the Financial Strategy, Corporate Risk Management, and M&A groups.
Mr. Axler is a contributing writer to Seeking Alpha, and was profiled in the book "The Happiness Advantage: The Seven Principles of Positive Psychology That Fuel Success and Performance at Work." Mr. Axler's short research has been profiled by the National Bureau of Economic Research (NBER) in an analysis entitled "How Constraining Are Limits to Arbitrage? Evidence from a Recent Financial Innovation," and shown to produce superior investment returns. In addition, according to a research study from Sumzero analyzing 12,000 analysts recommendations since 2009, Mr. Axler is the top ranking short-seller.
Mr. Axler graduated from Yale University with a masters degree in Statistics, and received both a Bachelor of Arts degree in Statistics and a Bachelor of Science in Marketing and Business Administration from Rutgers College, where he graduated with Summa Cum Laude and Phi Beta Kappa honors.
Full-time investor. Formerly buy-side credit analyst (2yrs) covering Japanese + Asian companies. Before that, I was a cross asset derivatives salesperson at a large bulge-bracket firm, based in Tokyo (4yrs). I use Seeking Alpha to clarify and synthesize my investment thought process and to elicit feedback on my theses; additionally I like to connect with other investors and swap ideas.
You can read my finance-related blog at rapercapital.com (less organized than Seeking Alpha writeups, more my random musings on various finance-related topics).
Going forward I will try to tweet my investment-related thoughts/updates to articles/etc. You can follow me on Twitter, my handle is @puppyeh1
Always looking for new ideas across the board. Happy to exchange ideas/share thoughts/swap notes, feel free to private message me. I currently live in Singapore.
I am an activist investor in US and Chinese stocks. I was previously an investment banker in New York Hong Kong and London for 9 years, focused on Equity Capital Markets. I look at both long ideas and short ideas and typically focus on a small number on names where I can spend the time to conduct very deep research. I spend my time living between Los Angeles and Beijing, China.
Heath Winter is the Managing Partner of ArbitrOption Capital Management, LLC and is responsible for research, trading, and portfolio management. Prior to forming ArbitrOption, Mr. Winter was Director of Research for the event-driven and special situations strategy of Silverado Capital Management from 2005 until 2009. Mr. Winter’s responsibilities at Silverado included generating investment ideas as well as researching positions and managing the portfolio. In addition, Mr. Winter was employed as an Analyst at M.H. Davidson, LLC in 2003 and as a Merger Arbitrage Analyst at Swidler Berlin Shereff Friedman, LLP from 2000 to 2002. He graduated with an MBA in Finance and Economics from Columbia Business School in 2004 and a BA in International Affairs from The George Washington University in 1997.
Richard Fearon founded Accretive Capital Partners in 2000 to invest in the highly inefficient market of small and micro-cap equities utilizing his private equity expertise.
Previously, he founded and managed the Chicago office of Allied Capital Corporation, a $4 billion private equity investment fund and the oldest publicly-traded business development company in the United States, until acquired by Ares Capital Corporation. He was Managing Partner of Allied Capital Midwest and a Principal of Allied Capital Corporation from 1993-2000. Prior to Allied Capital, Mr. Fearon was an investment banker at Morgan Stanley & Co. and PaineWebber Incorporated.
Mr. Fearon earned an MBA in Finance from the Wharton School of Business, attended the Stockholm School of Economics, and graduated with a BA in Chemistry and Anthropology from Williams College. He was also a graduate of the Hopkins School, where he was a 1984 Connecticut State and All-New England Wrestling Champion and was inducted into the National Football Foundation and College Hall of Fame as a Scholar-Athlete.
Mr. Fearon is a member of the Board of Directors of Nutrastar International Inc. (OTCQB: NUIN) and has served on the Board of 15 private companies, including as Chairman of Magna Card, Inc., where he was awarded United States Patent 7225568. He currently serves on the Hopkins School Alumni/ae Association Board of Directors and, since 2011, has served as an Advisory Board Member to the Catalyst Network Foundation, a non-profit organization offering career development and networking tools to under-served and high-potential inner-city youths and veterans.
Investor, Entrepreneur, always looking for value.
Founded CompleteBankData to create powerful and easy to use tools that gives bank investors an edge.
Bloomberg Terminal: APPS BANKS
Founded the Oddball Stocks Newsletter (http://www.oddballstocksnewsletter.com) as a way to highlight attractive out of the way investment opportunities.
CompleteBankData is the ultimate edge for bank investors. It pulls fresh data from bank filings into a simple, powerful interface so you can find profitable trades faster. Spend your time making decisions. Not finding them.
Rapid Idea Generation
-Find long and short ideas with dozens of proven strategies: Oversold, Deposit, Market Share, Potential Acquisition Targets, Buyback Yields, Low P/B and Profitable, and more.
-Access our proprietary "Best Bank" rankings.
-Combine dozens of financial metrics to create your own custom bank screens.
-Instantly spot valuation outliers in the universe of banks.
-Visualize macro insights into the health of the banking system.
Deep Dive Analysis
-Access an in-depth report on each bank. See assets, equity, ROE, Texas Ratio, full financials and more with a single click.
-Granular insights into the health of a bank's loan portfolio, non-performing assets, real estate holdings and more.
-Create custom bank valuations with built-in peer comparison, acquisition value, and DDM models.
Investment Monitoring and Exit
-Compare banks to peers with one click.
-Identify exit points and short candidates using negative metrics and screens.
Former buyside analyst now running my own fund for accredited investors. Pseudonymous to protect my IR access but if you send me your email address and show me your LinkedIn, I'll show you mine. I'm not like anyone you've ever met and am not doing this for the traditional reasons. I’m always up for a conversation with anyone interested in value investing or mental models.
Starting in late August or early September, I will run a Marketplace subscription service called “Outsourced Analyst” targeted at small-mid-sized funds, family offices, or HNWs who want the workflow of an analyst for a hundredth of the price. I will provide objective coverage of high-quality, underfollowed small-caps. Subscribers also have early access to writeups of some of my best ideas like those I've posted on LQDT, CRAI, FC, LGIH, BOOM, CSWI, and so on. Bonus material is thought pieces - I place a lot of emphasis on learning and getting better - so if/when I make mistakes, I'll write up postmortems with what I learned, and maybe they'll help you as well... Membership will be limited to the first 250 subscribers.
I'm required to disclose that I'm a registered investment advisor but nothing I say is investment advice - it's just my Monday-morning-quarterback opinion for your entertainment and amusement. Always do your own due diligence, consider your own financial position, and consult your preferred financial professional before making any investment decision.
Blogger, Self-Made Analyst, Trader, Investor, Crowdfunder and Critical Thinker. Currently, I am looking for a job in the investment space. Job offers are always welcome.
The name "Dutch Trader" refers to The Golden Age. This was a period in Dutch history, roughly spanning the 17th century, in which Dutch trade, science, military and art were among the most acclaimed in the world.
Dutch ships hunted whales off Svalbard, traded spices in India and Indonesia (via the Dutch East India Company) and founded colonies in New Amsterdam (now New York), South Africa and the West Indies. In addition some Portuguese colonies were conquered, namely in Northeastern Brazil, Angola, Indonesia and Ceylon. This new nation flourished culturally and economically, creating what historian Simon Schama has called an "embarrassment of riches". Speculation in the tulip trade led to a first stock market crash in 1637, but the economic crisis was soon overcome.
In 1602 the Dutch East India Company was founded. It was the first-ever multinational corporation, financed by shares that established the first modern stock exchange. This company received a Dutch monopoly on Asian trade and would keep this for two centuries. It became the world's largest commercial enterprise of the 17th century. Spices were imported in bulk and brought huge profits, due to the efforts and risks involved and seemingly insatiable demand.
To finance the growing trade within the region, the Bank of Amsterdam was established in 1609, the precursor to, if not the first true central bank.
My background is Management, Economics and Law. This I studied at Fontys Business School in the Netherlands, with specialization in Banking and Insurance.
My passion is investing, writing, travelling, history, swimming, playing chess and enjoying my family.
I love to analyze companies and sectors and write about it. Main points of interests: China, Biotechnology, Consumer, Energy, Mining, Dividend, OTC Market, Food, Robotics and some other themes.
As an investor I have a bias towards value investing and the markets. All opinions are my own and do not represent the views of my employer.Valuation metrics play an important part of my investment strategies. My investment philosophy is Unloved, Underowned and Undervalued.
One of the best investment quotes is: The key to making money in stocks is not to get scared out of them from Peter Lynch.
Do you have any other business proposals or questions, just write an email to firstname.lastname@example.org
Dutch Trader, The Netherlands================
For the Securities Disclaimer & Disclosure, read:
Deep value investor in search of companies with clear catalysts for upside. Recent successes of investments in value and activist-focused stocks: Natural Gas Services (NGS), Carbonite (J2 Global tender), Pacer (XPO Logistics), Given Imaging (Covidien), Xyratex (Seagate), Zoltek Companies (Toray Industries), STEC (Western Digital).
I am a CPA, CFE and have a BA in finance. I don't like to lose money.
If there are any bank stocks you would like to have regular quarterly/semi-annual coverage on let me know, I add a lot of names throughout the year but want to provide regular coverage for interested readers.
Trinity Research Group ("Trinity") was established in 2014 by a group of international individual investors each with decades of investment experience in China and the USA. Trinity focuses exclusively on opportunities, long or short, created by false information and/or inaccurate market beliefs. Trinity leverages the principals' substantial local networks to conduct extensive fundamental, bottoms up due diligence of misunderstood companies.
Trinity invests the principals' money exclusively and does not manage assets for others or advise clients.
Trinity publishes research for information and educational purposes only, and our research should not be considered investment advice. Refer to the disclaimer below.
Trinity Research Group strongly recommends that every investor conduct his/her own due diligence before buying or selling any security. Trinity does not guarantee in any way that it is providing all of the information that may be available. You should be aware that the principals of Trinity might hold a position, long or short, in any of the securities discussed in our research.
Our research and report expresses our opinions, which we have based upon publicly available information, third-party buy- or sell-side research (whenever referenced), our own due diligence, and inferences and deductions through our analysis. Trinity believes all information contained in its research is accurate and reliable, and has been obtained from sources it believes to be accurate and reliable. However, such information is presented “as is,” without warranty of any kind, whether express or implied. Trinity makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any such information or with regard to the results to be obtained from its use. All expressions of opinion are subject to change without notice, and Trinity is not obligated to update any of its opinions or research after making it available.
My background is in governance, valuation, and accounting.
I try to look at stocks as the sum of contractual rights provided by domicile and certificate of incorporation, and am always cautious about the potential for management or controller overreach.
I also spend a lot of time thinking about the limitations of accounting in presenting reality. I'm especially interested in the application of GAAP to make a company a more or less attractive prospect for investment than it actually is.
I'm primarily interested in long-only equities. I try to avoid announced M&A as I no longer like the risk distributions, but M&A will occasionally find me, when a security I own is involved in a control transaction.
I've been a securities analyst, both in and out of large institutions, for a number of years and I hope to continue to do this for the rest of my lifetime.
Founder of the school of Nouveau Shamanic Security Analysis (NSSA).
"He is no longer an analyst"
--- Sean Penn, 1999
"For he is the Kwisatz Haderach"
-- Alia Atreides, Dune, 1985
"He may have been asleep, but that was before you dropped a f*cking plane on his head and woke him up."
--Didi Giancano, Heaven's Prisoners, 1996
A decade of experience with valuing distressed assets and claims trading, special situations analysis, activist-investor plays, and identifying frauds for short-selling. Now developing my own trading ideas, focused on valuing high-yield debt and identifying debt-arbitrage opportunities.
Rubicon Associates is headed by a Chartered Financial Analyst charter holder with over 20 years of experience in the investment management industry focused on the analysis, investment and management of fixed income and preferred stock portfolios. Over the years, he has analyzed and invested in both public and private companies around the world as well as advised institutional clients on fixed income strategies and manager selection. The principal has been responsible for managing nearly seven billion dollars in credit investments across the capital structure and overseeing the research and trading of credit market activities.
Rubicon Associates has written for Seeking Alpha, Learn Bonds, a newsletter and TheStreet.com in addition to advising institutional and private investors.
Ottoman Bay Research focuses on due diligence-based, special situation investing, particularly in the emerging markets. As of the publication date of our articles, Ottoman Bay may have long or short equity positions in the companies covered.
Roddy Boyd is an investigative reporter who has worked for Fortune Magazine, the New York Post, The New York Sun and Institutional Investor News. He also founded The Financial Investigator website, www.thefinancialinvestigator.com. I also wrote "Fatal Risk," on the collapse of AIG.
Most recently, he has founded the Southern Investigative Reporting Foundation, www.sirf-online.org.
SIRF is dedicated to providing document-driven investigative reporting on publicly traded companies. Our work is centered on providing accountability and information to the investing public and regulators. We are organized as a tax-exempt organization, are members of the Investigative News Network and gladly adhere to the highest standards of journalistic integrity. We do not invest in any securities, short or long, and do not take payment for our work. No one sees our work prior to publication.
Mr. Barac is the founder and Managing Member of the General Partner, Barac Capital Management, LLC. Prior to founding the General Partner, Mr. Barac held a variety of roles in institutional securities research and trading.
Mr. Barac graduated from Trinity University (San Antonio, Texas) in 1989 and received a Master’s in Business Administration degree from Southern Methodist University (Dallas, Texas) in 1998. During his graduate studies, Mr. Barac’s broad-based business studies included a focus on international business which included an internship with Bank Boston’s media and telecommunications lending group in Buenos Aires, Argentina and an international exchange semester at the E.S.A.D.E. Business School in Barcelona, Spain.
Following his graduate studies, Mr. Barac went to work for Moody’s Investors Services in New York, New York in 1998 and transferred to their London, England offices in 1999. At Moody’s, Mr. Barac became a Senior Credit Officer/Vice-President and lead analyst with responsibility for the credit ratings of a multi-billion dollar portfolio of high-profile European leveraged finance companies. As an expert in leveraged finance and corporate credit risk analysis, Mr. Barac was a regular speaker for Moody’s and was regularly quoted by major financial publications (e.g. the Wall Street Journal Europe, Financial Times, New York Times, Bloomberg News, and The Times of London).
From 2005 to 2007, Mr. Barac worked at Schroders Investment Management, an investment management firm with assets under management in excess of $200 billion, headquartered in London, England. At Schroder’s, Mr. Barac was responsible for identifying profitable fixed-income trade ideas from within a portfolio of European high-yield and investment grade corporate bond issuers. Mr. Barac’s work at Schroder’s earned him selection for the company’s elite merit-based Business Leadership Program.
Mr. Barac continued his work in corporate securities analysis with Barclay’s Capital (also in London, England) where he worked as a Director in their Principal Strategies Group from 2007 to 2008. At Barclays, Mr. Barac was a proprietary analyst and trader responsible for investing a portion of Barclay’s capital through a combination of bonds, stocks, and fixed-income derivatives (credit default swaps).
Following his return from London to Austin, Texas in 2008, Mr. Barac founded, established, and now actively manages the Barac Value Fund, L.P.
Harry Long is the inventor of Hedged Contango Capture and Hedged Convexity Capture and is the Managing Partner of ZOMMA, the world's most innovative strategy index creator.
Mr. Long is a globally recognized expert on the research and development of quantitative investment strategies. The ZOMMA IP portfolio of strategy indices is sought after by asset management firms, investment banks, hedge funds, principal trading organizations, index providers, ETP sponsors, and private equity firms to help them develop and deploy active manager-crushing quantitative investment strategies.
ZOMMA helps investors create long term value by replacing reckless emotional decision making with cutting-edge technology based upon objective evidence.
Mr. Long is a graduate of Rice University with a B.A. in Economics.
Note: Due to the sheer number of requests for bespoke quant strategies, research projects, and quant consulting services, we have instituted the following pricing for the non-exclusive licensing of our algorithms to institutions:
I. Exclusive commercial licenses for unique bespoke algorithms run six figures and up.
II. Non-exclusive AUM licensing fees for our strategy indices run 10 basis points and up for commercial licenses.
Please realize that we often get more than 3,000 e-mails per week. This means that we read everything that comes in, but we cannot respond to any email or message that does not include the sender's full name, phone number, request, and budget. Thank you for your understanding.
This Dubai-like pricing is necessary, because we can't freely give answers to tough problems which we have dedicated massive R&D capital to solving. World-class statistical talent is hugely expensive, valuable, and rare. Our clients recognize that outsourcing quant work to our firm and paying our fees represent a huge cost savings over hiring full time employees, and usually results in a far more profitable, turn-key solution.
Muddy Waters, LLC is a pioneer in on-the-ground, freely published investment research. Muddy Waters peels back the layers, often built up by seemingly respected but sycophantic law firms, auditors, and venal managements. We assess companies’ true worths. Our research approach is to combine diverse talents–many of whom have hands-on experience running businesses in the US and emerging markets.
Saj Karsan founded an investment and research firm that is based on the principles of value investing. He has an MBA from the Richard Ivey School of Business, has completed all three CFA exams, and has an engineering degree from McGill University. Visit his blog, Barel Karsan (http://barelkarsan.com/).
Whitney Tilson is the founder and Managing Partner of Kase Capital Management, which manages three value-oriented hedge funds. Mr. Tilson is also the co-founder of Value Investor Insight, an investment newsletter.
Mr. Tilson has co-authored two books, The Art of Value Investing: How the World's Best Investors Beat the Market (2013) and More Mortgage Meltdown: 6 Ways to Profit in These Bad Times (2009), was one of the authors of Poor Charlie’s Almanack, the definitive book on Berkshire Hathaway Vice Chairman Charlie Munger, and has written for Forbes, the Financial Times, Kiplinger’s, the Motley Fool and TheStreet.com. He was featured in two 60 Minutes segments in December 2008 about the housing crisis (which won an Emmy) and in March 2015 about Lumber Liquidators. He served for two years on the Board of Directors of Cutter & Buck, which designs and markets upscale sportswear, until the company was sold in early 2007.
Mr. Tilson received an MBA with High Distinction from the Harvard Business School, where he was elected a Baker Scholar (top 5% of class), and graduated magna cum laude from Harvard College, with a bachelor’s degree in Government.
Mr. Tilson spent much of his childhood in Tanzania and Nicaragua (his parents are both educators, were among the first couples to meet and marry in the Peace Corps, and have retired in Kenya). Consequently, Mr. Tilson is involved with a number of charities focused on education reform and Africa. For his philanthropic work, he received the 2008 John C. Whitehead Social Enterprise Award from the Harvard Business School Club of Greater New York. He is a member and past Chairman of the Manhattan chapter of the Young Presidents’ Organization. Mr. Tilson lives in Manhattan with his wife and three teenage daughters.
Seeking investments without using the ridiculous style-box approach. If I can make a return in excess of what I judge the risk to be, I'll invest. Over time, using a Kelly formula, I tend to weight positions from 2-10%. A diversified portfolio is a career-saving move, not an investment philosophy.
My primary focus is on Risk Arbitrage but at various times over the past 20 years I've had the majority of my funds in: Value, Growth, Spinoffs, Special Sit, Momentum, Junk, Defaulted Debt, Preferreds, and Converts; all have their place and time.
I'll try to use options if possible to magnify returns for
I am an experienced individual investor who has been trading merger arbitrage stocks and options since the 90's. I am a writer with a Master of Science from Northwestern University and I truly enjoy writing articles about the stock market. I try to look for opportunities where the odds are in my favor and there is a definite edge. On Seeking Alpha my articles will aim to provide insight and favorable risk/reward for the readers.However, I am not an investment advisor so any recomendations or ideas I write about in my articles, blogs, or comments shouldn't be taken as investment advice. I recommend using my writings as a starting point to which you should add your own research or that of an investment advisor.
"Any time you make a bet with the best of it, where the odds are in your favor, you have earned something on that bet, whether you actually win or lose the bet. By the same token, when you make a bet with the worst of it, where the odds are not in your favor, you have lost something, whether you actually win or lose the bet."
-David Sklansky, "The Theory of Poker"