Asia/U.S. Deep-Value Wide-Moat Stocks is a research service for value investors seeking value stocks with a huge gap between price and intrinsic value, leaning towards deep value balance sheet bargains (i.e. buying assets at a discount e.g. net cash stocks, net-nets, low P/B stocks, sum-of-the-parts discounts) and wide moat stocks (i.e. buying earnings power at a discount in great companies like "Magic Formula" stocks, high quality businesses, hidden champions and wide moat compounders).
Those who believe that the pendulum will move in one direction forever—or reside at an extreme forever— eventually will lose huge sums. Those who understand the pendulum's behavior can benefit enormously. ~ Howard Marks
Investment ideas for Asia/U.S. Deep-Value Wide-Moat Stocks are generated from screens, insider trades, 13Fs, fund manager letters, analyst reports, blogs and forums. The initial ideas sourced are subsequently evaluated using The Cheapness-Safety-Quality (CSQ) framework, applying customized investment checklists to ask the right questions of the investments in question, along the dimension of cheapness, safety and quality. Asia/U.S. Deep-Value Wide-Moat Stocks' value investing philosophy borrows from the wisdom of value investing gurus, using both quantitative screens and qualitative inputs to filter the global stock markets for investment ideas.
I am a 'deep value' investor/analyst mainly focused on the US small-cap universe. I started out with a long-only bias (stocks trading close to NCAV etc.), but I have now started to focus on the short side as well. I am especially interested in instances of aggressive accounting and earnings manipulation. I am always looking to connect with fellow investors/analysts so do not hesitate to contact me! I am also passively looking for a job on the buy-side.
An avid value investing junkie for many years, I have exhausted the people in my life willing to discuss my latest greatest investment ideas. So I find myself turning to the bigger audience of Seeking Alpha, learning a lot, and hopefully helping a few investors along the way.
MBA student at the Wharton School, WG '18. Formerly summer hedge fund analyst at Rangeley Capital, focusing on value and event-driven investing. Former investment banking analyst at Goldman Sachs and Business Operations at LinkedIn. Graduated magna cum laude in Applied Mathematics from Harvard. Interested in value and event-driven investing.
For all my write ups visit www.nonamestocks.com
Individual investor just trying to do my best. I started reading about finance and investing in January 2013. I began buying stocks in Apr 2013 and my eyes were opened to value investing in the summer of 2013 when I found oldschoolvalue.com and read F Wall Street.
When I began reading I knew nothing of finance so I just started with something I'd heard of -- Rich Dad Poor Dad. After realizing that was not for me I moved to Jim Cramer. Cramer is much too fast paced and broad for me so I moved to Buffett books. That's when it began to make sense and I bought my first stocks. F Wall Street was next and finally someone told me when to sell as well as buy so I was hooked. I moved on to Graham, Greenblatt, and Klarmen and I keep on going.
I am interested in any stock and any sector. As long as I can understand the company or situation and explain why the stock is too cheap then I will invest. I prefer micro caps because I feel I can generate an edge with the smaller stocks that isn't available with the large stocks that everyone is looking at.
I am constantly learning and my style is evolving. I believe that children are the ultimate test of patience but owning stocks is not too far behind. I am fine with holding stocks for years or months, it all depends on the situation. I prefer less activity to more and when in doubt, I do nothing.
Tal Davidson, MBA
am the a research-driven value investor. I practice deep value investing, based on the principles taught by Benjamin Graham, and practiced by Walter Schloss. Over more than a decade of performing fundamental security analysis and practicing value investing, I have refined my methods for sourcing investment ideas, performing analysis and managing a portfolio.
Read more at taldavidson.com
Feynman Investment Research LLC is an independent investment research firm that utilizes the value investing methodology to provide actionable and timely investment ideas on undervalued and under- recognized companies.
We focus primarily upon discovering positive asymmetric risk/reward opportunities in the micro,small and mid cap sectors.
Contact us at: www.feynmanresearch.com or e-mail: email@example.com
David Tuzzolino, CFA, is the founder and editor of the Tuzz Report, a publication of Tuzzolino Investment Research, LLC. The Tuzz Report focuses on small and micro-cap value stocks that are underfollowed and misunderstood. Academic research has proven that these stocks outperform the overall market.
David has worked in the investment industry for over two decades for companies such as Bank of New York Mellon, JP Morgan and Banc One Investment Advisors. David has appeared on Bloomberg TV and has been quoted in articles featured on Barrons.com.
Follow him on Twitter: @TuzzReport
I am interested in small capitalized companies with a high optionality to the upside compared to the relative downside risk. I am grounded in a value based approach but will also explore special situations. I am a trained CPA and continue to practice in industry.
Warning: my twitter account is very random but will have a lot of economic and business items sprinkled with Green Bay Packer comments.
http://www.wangchukcapital.com As a value investor, I focus on businesses that I understand and trade at low valuations. If I can’t understand the business, I don’t invest. I identify potential investments by conducting my own research and due diligence on companies that investors appear to have become overly pessimistic about. My strategy is to invest in companies that trade at a discount to my estimate of fair value. I focus on deep value micro and nano-cap companies.
Arquitos Capital Management is the general partner of a value-oriented hedge fund, Arquitos Capital Partners. Launched in 2012, Arquitos Capital Partners focuses on company-specific situations such as reorganizations, recapitalizations, liquidations, spin-offs, break-ups, rights offerings and other unique circumstances. Steven Kiel is the president and chief investment officer of Arquitos Capital Management. He is the portfolio manager of Arquitos Capital Partners, a private investment partnership focused on value-oriented holdings. Steven is a judge advocate in the Army Reserves. He is a veteran of Operation Iraqi Freedom and currently holds the rank of major. Prior to launching Arquitos Capital Management, he was a lawyer in private practice. He has been quoted in The Wall Street Journal, Bloomberg, MarketWatch, Deal Journal, The Atlantic, USA Today, and other publications. Steven sits on the board of Sitestar (OTCBB:SYTE), a Virginia-based real estate investment company. Steven is a graduate of George Mason School of Law and Illinois State University, and is a member of the bar in Illinois (inactive) and Washington, D.C.
Andrew Walker, CFA, is a portfolio manager at Rangeley Capital LLC with a focus on small cap special situations investments. Mr. Walker also contributes to Sifting the World, a value investing forum.
I'm primarily a long-term small-cap investor. I respond to all comments and messages, so please feel free to reach out.
PREVIOUSLY NAMED "BRIDGING THE GAP" – don't worry, I'm still the same person, now just writing under my real name so people can better find me.
After graduating cum laude with a BA in economics from Harvard, I worked in hedge funds and investment banking for ~6 years before leaving to manage my own money full time. I am a CFA charterholder and focus mostly on microcaps / event-oriented trades as that is where I think the market tends to be least efficient. I also started a website to track interesting arbitrage opportunities for individual investors (link below) - check it out!
I focus on the microcap space (market cap below $250 million) because it is one of the most inefficient and "alpha rich" areas of the global equity market, which provides the greatest opportunity to generate alpha through fundamental research.
I use a bottom up, investment decision making process. The ideal investment has an asymmetric risk/return profile with a limited downside (e.g. high net cash balance, strong cash flow) and significant upside (e.g. asset value extraction, overlooked business model transition).
Microcaps are particularly attractive to the following groups:
Activist investors. A small absolute investment (on a dollar basis) can be leveraged into a relatively large position (as a percentage of shares outstanding), which provides a greater ability to demand change.
Private equity firms. The persistent microcap discount can be “arbed away” via an LBO with the new owners accruing all of the gains for themselves. The small absolute size of many microcaps on an EV basis significantly expands the number of firms able to pursue this strategy.
This inefficiency exists for several reasons.
A lack of analyst coverage due to lower trading volume (less soft dollars from HF/MF), the global settlement that permanently severed the link between research/banking and the rise in electronic trading/decimalization. Moreover, none of these trends are likely to reverse for the foreseeable future (if ever).
A lack of institutional products given the natural capacity constraint for new/existing managers.
An inability to effectively implement a passive approach (e.g. ETFs, index funds) due to the lower liquidity and wider bid/ask spread. However, each of these obstacles can be overcome by using a combination of electronic trading tools (e.g. algos) and patience in building a positive size.
Inaccurate and persistent misconceptions about microcaps (e.g. they are riskier than larger cap stocks).
I currently trade for my personal account but would like to move into the investment management side of the industry.
Previously spent a year interning at a hedge fund running a bottom-up, long-short, strategy. Attracted to businesses with compelling risk/rewards and impressive value creators trading at significant discounts to a cash-flow based view of intrinsic value.
I am an "extreme value" investor, focusing mostly on micro and nanocap companies selling for a steep discount to price/book, price/sales, EV/EBITDA and other traditional measures of value. (Price-to-book is my favorite.) My emphasis is on low priced stocks, since the marketplace is very inefficient in valuing them. I am a dyed-in-the-wool contrarian, and like to invest in the most unloved and out of favor sectors of the market, and numerically screen for the best relative values in those out of favor sectors. I like to buy companies where the insiders are buying in the open market, to "confirm" the underlying value proposition. I like to buy stocks trading near a multiyear low, and average down aggressively if the stock moves against me (assuming the circumstances for my purchase haven't changed.) I also like special situations, including selective leveraged turnaround situations, that I can catch at their "inflection" point. I have achieved outsized annualized returns, over the last 25 years, with these strategies. I also take 5%+ positions in companies, and engage in selective shareholder activism, to hold accountable the insular and/or corrupt boards that are sadly all too common, especially in smaller, "family run" public companies.
I founded the firm Tarsier Capital Management, focusing on micro cap investing. I have an MBA, CFA, and CPA. I look for under-valued stocks, using the teachings of Ben Graham, Warren Buffet, and Seth Klarman. I also look for undiscovered companies that are growing quickly and are also inexpensive. I am the author of www.thebulldoginvestor.com.
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.
The Mutual Fund Observer operates as a public service, as a place for individuals to interact, grow, learn and gain confidence.” It is a free, independent, non-commercial site, financially supported by folks who value its services. We write for intellectually curious, serious investors - managers, advisers, and individuals - who need to go beyond marketing fluff and computer-generated recommendations.
The Observer has about 25,000 readers.
The Observer is published by David Snowball. David is a Professor of Communication Studies at Augustana College, Rock Island, Illinois. Augustana is a nationally-recognized college of the liberal arts and sciences, founded in 1860. David’s teaching portfolio at the college includes:
Advertising and Social Influence
Propaganda in the 20th Century and Beyond
Communication and Emerging Technologies
Business and Professional Communication
For a quarter century, David competed in academic debate and coached college debate teams to over 1500 individual victories and 50 tournament championships. He served as the closing moderator of Brill’s Mutual Funds Interactive (a Forbes “Best of the Web” site). From 2006-2011, he was the Senior Fund Analyst at FundAlarm and author of over 120 fund profiles. He and partner Cheryl Welsch launched the Observer in April 2011.
His work has been cited in The New York Times, USA Today, The Wall Street Journal, Barron’s, Business Week and, on the web, at Motley Fool, MSN Money, CBS Marketwatch and elsewhere.
David lives in Davenport, Iowa, and spends an amazing amount of time ferrying his son, Will, to baseball tryouts, baseball lessons, baseball practices, baseball games … and social gatherings with young ladies who seem unnervingly interested in him.
The Observer's special expertise is in newer and smaller mutual funds, those that are effectively "off Morningstar's radar." We focus, in particular, on no-load, retail funds which are accessible to average folks.