I am a highly trained professional equity analyst. My specialty is finding companies with excellent ratios of risk to reward. Before going independent, I was the head analyst at a boutique Israeli hedge fund. Today I am a consultant to several multibillion-dollar firms. I have covered many sectors, including technology, solar and semiconductors. I have learned to connect the dots and discern how forces in these various industries will affect individual companies. I am a big believer in analyzing investments from the top down. This means identifying themes and trends that can reveal where industries and individual companies will be in the future. There are no magic formulas for this process, just a lot of hard work. After I've found a company, analyzed it and concluded its value, then it is just like a poker game with endless cards. All we have to do is sit and wait for the next card to reveal itself and adjust our thesis accordingly. Once we find the true value of a company, we must ignore day-to-day market chaos. If we have done our research properly, we do not need to worry if the Dow goes up or down a particular day, week or month. Peter Lynch, Ben Graham and Phillip Fisher are my biggest influences. I encourage anyone who wishes to learn more about the market to read any of their books.
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
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.
Senior Portfolio Manager and individual investor who started in high school and has been at it ever since. I have an MBA and have earned the right to use the Chartered Financial Analyst designation. I have worked in the business for over 15 years. My specialties are micro and small-cap value investing, fixed income closed-end funds, and macro analysis.
Value investor focused on micro-caps.
I am an analyst for CompleteBankData and also a
Always looking for more opportunities and to grow my professional network. Feel free to message me anytime.
Disclaimer: Nick reminds investors to always due their own due diligence on any investment, and to consult their own financial adviser or representative when necessary. Any material provided is intended as general information only, and should not be considered or relied upon as a formal investment recommendation
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.
The Prosperity Active Yield Fund is a proprietary fund which invests in value and common sense. (TM) It was founded and is managed by Adam Janes.
The Fund is not seeking outside investment or capital.
Former analyst at a long/short value-oriented hedge fund now managing a fund of my own. I believe it's important to put your money where your mouth is when investing, so I will generally write only about stocks that I own or am likely to purchase in the near future.
For exclusive ideas and real-time access to my full portfolio, consider subscribing to my new service, "Beating the Market with SoF". Returns have been more than 3x those of the market since inception- audited performance data is available to anyone interested.
Wall Street Breakfast, Seeking Alpha's flagship daily business news summary, is a one-page summary that gives you a rapid overview of the day's key financial news. It's designed for easy readability on the site or by email (including on mobile devices), and is published before 7:00 AM ET every market day.
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Our team is focused on uncovering deep value investments and special situations. Please check out deepvaluefinder.com, and please feel free to send us deep value and special situations ideas to look into. We are always open to looking into new deep value and special situation investments.
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Seeking Alpha PRO subscribers get an early look at the best long and short ideas on Seeking Alpha and the best small to mid-cap research on Seeking Alpha, before these articles are released to millions of readers. We publish about 15-20 Top Ideas per week and about 15 top small/mid-cap research articles a market day, and they frequently move stocks. PRO subscribers also get exclusive access to Top Ideas and top research articles 30 days after release, when they become closed to other readers.
Early access. PRO subscribers get our Top Ideas and top research 24 hours before other readers. Because Top Ideas frequently move stocks, this provides an edge to traders and an information advantage to portfolio managers in understanding why their stocks are moving.
Broad research platform. Seeking Alpha PRO articles are closed to regular readers after only 30 days. PRO subscribers can access them indefinitely, allowing you to research a broad range of stocks and find people with knowledge of them. Research mid-cap and small-cap stocks with little or no coverage anywhere else.
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I'm a professional poker player with an interest in investing. My investing style is build on the principles of Graham and Dodd: trying to buy companies that are on sale and have a margin of safety in case the investment thesis is wrong. I discuss all my picks at my blog @ alphavulture.com
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.
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.
Chris DeMuth Jr. is the founder of Rangeley Capital LLC. Rangeley is an investment firm that focuses on event driven, value-oriented investment opportunities. Rangeley Capital and his value investing forum, Sifting the World (StW), search the world for misplaced bets. Rangeley exploits them for its investors and then Mr. DeMuth writes about them on StW.
Former buyside analyst now running my own fund for accredited investors. 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.