Valens Securities is a boutique research firm with 90+ professionals, housing truly unique, disciplined, and unbiased research systems for equity analysis, corporate credit, and macroeconomic strategy.
Valens provides institutional investor clients with various tools designed for each level of the investment process:
- Valens assists in screening and idea generation using a broad set of unique signals and Quantamental screening criteria
- Our Market Phase Cycle™ macroeconomic strategy helps CIOs, DORs, and PMs to better understand directional trends in credit and equities markets and sectors
- We provide monthly and alert-based portfolio monitoring and review, helping our clients to confirm risk-reward opportunities and avoid torpedoes
- Upon request, Valens provides an unparalleled level of forensic depth for due diligence on concentrated positions on a client by client basis
Performance and Valuation Prime™: Valens insights in financial statement analysis have been featured in presentations and publications in the top finance and accounting forums in the world. Existing credit and equity formulae are simply not geared for the complexity and distortions in financial statements. The Statement of Cash Flows, often heralded as the solution to distorted financial statements, is possibly the most flawed. Valens Securities systematically reclassifies the severe accounting distortions, providing a base for far more accurate business analytics.
Our Earnings Call Forensics™ have been featured on CNBC and in Institutional Investor Magazine. This "ECF™" is a powerful, proprietary process for studying and evaluating management's physiology and other behavioral characteristics of management during quarterly earnings calls and other public presentations. We use tools and systems that other sell-side firms and credit agencies have been either unwilling or unable to use. Their reluctance to use these technologies often stems from their fear of endangering their relationships with management teams.
Valens Credit Ratings and CDS research and pricing have made Valens Credit one of the most read authors on Seeking Alpha. The application of "Fundamental Forensics" to credit default assessments and recovery rates has contributed to the body of knowledge of corporate credit analysis that has been presented to over 30 CFA Society city and country events.
Our focus on "Incentives Dictate Behavior™" has uncovered management incentives and drivers of corporate actions that have been prescient in securities analysis. Our team focuses on the incentives and structures that highlight management’s collective and personal risk tolerance for the company, capital structure inclinations, and propensity for certain corporate actions. This uncovers hidden payout incentives that drive the value and risk of a company’s obligations and ultimate equity value. IDB™ has also been featured in the highly-acclaimed book, DRIVEN: Business Strategy, Human Actions, and the Creation of Wealth.
Valens Securities analysis teams are actually team-based with no “star analysts”. Our Chief Investment Strategist, Joel Litman, serves as committee chair for final edit of our publications. Our conflict avoidance procedures exceed that of any major agency, reducing analyst biases as we accept no issuer consulting fees and we report full disclosures of any related interests.
We disclose any holdings of any of our personnel or affiliates in any securities of the firm being rated, and not simply the credit. For holdings of any of our committee members, or any individual employee who provided analysis contributing to a particular rating, we disclose equity, credit, or options of that particular company being rated.
I am the investment manager for Darkravenwind LLC, a small software development consulting firm. 20% of our pre-tax revenue is my responsibility to invest and grow. I also help moderate the "Value Investing" group on Facebook. My hobbies include fighting the Fed, martial arts, and old video games.
I have been using value investing techniques as first described by Benjamin Graham since approximately 2006. I was wasting my life up to that point. My specialty, over and above corporate valuation, is analyzing people. Human behavior is remarkably consistent and can lead to huge gains when you understand what motivates them.
In my own portfolio I have a diversified income focus with a preference for long term earnings and dividend growth. When a good opportunity comes along, I'll focus a large percentage of assets into that single holding. I'm also maintaining an income portfolio with a little over 180 high yielding companies as a bit of an experiment.
I have been mostly self taught, but I am also working on obtaining a finance degree. Quadrupled my money in the 2008 crash, by 2012 my total portfolio was over 50,000% higher than when I had first started.
I was a previous employee at Countrywide Financial Corp., and was present during the mortgage meltdown. I saw firsthand how the company was falling apart from the inside while management continued to believe the organization could be rescued. I have made bond analysis and studying the effects of inflation an additional specialty of mine.
Market direction is irrelevant. I look for value. Profitable companies that are low or even fairly priced, so long as the results are dependable. Intrinsic value is subjective, but earnings power matters. The current dividend yield, and the number of competitors are strong factors in my decisions. I am absolutely fearless of the future and do not make political views a part of my investment process.
I additionally make frequent updates to a blog maintainted at WhoTrades called "Brand Power", you can read and subscribe to it at bandpower.whotrades.com. Live trading data on my purchases should be available at some point in the near future.
Tomasz Tunguz is a Partner at Redpoint Ventures where he works with Axial, Looker, Electric Imp, Expensify, ThredUp, Quantifind and Erply. He blogs at www.tomtunguz.com
Prior to joining Redpoint, Tomasz was the Product Manager for Google's Social Media monetization team, including the Google-MySpace partnership. In addition, he managed the launches of AdSense into six new markets in Europe and Asia. Before Google, Tomasz developed systems for the Department of Homeland Security at Appian Corporation, a provider of Business Process Management solutions. Tomasz also co-founded Perquimans Systems, a provider of bilingual, tri-currency automated time billing and document management systems for top tier law firms in Chile.
Tomasz holds a B.A. in Mechanical Engineering, a B.E. in System Identification and Control Systems and Master of Engineering Management from Dartmouth College where he was a George Revitz Fellow.
Specialties: Social networking, monetization, enterprise systems architecture, machine learning, business process management, mobile web
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My focus is on companies that fly under the radar but offer opportunities for investment success because these companies have built in catalysts, a management team that has a clear business plan and fundamentals in place for the catalysts to bear fruit.
My investments include well known stocks, but I write mostly about small cap or under followed stocks. I don't think that a portfolio should be built on solely the type of stock that I write about but I offer ideas for the part of a portfolio dedicated to catalytic investment.
I look for large hedge fund interest in relatively unknown companies and then research the underlying reason for this investment. Most often, the reason is a growth in market share and there is an underlying catalyst.
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
I have been working in share analysis, stock picking for over 20 years and reside in Australia. I have found a particular interest in micro-cap software companies domestically, and I have recently started to look further ashore in a personal investment capacity. I plan to review a few interesting US micro-cap software names over the next few months.
I hold a PhD in the field of epidemiology a masters degree in public health. My undergraduate training is in policy, economics and the sciences. I have utilized my training in employment with government, academia, private industry and to further analyze the fundamentals and technicals of all manner of companies in different sectors. Specifically, I like to trade growth companies, REITS, biotechnology/ pharmaceuticals, precious metals, blue chips and small-cap companies.
Each market day I get up at 530 am and begin working/analyzing data before my day job. I focus much on current events, earnings, and developments. I also work after market hours to cover after hours developments or interesting action during the day. I aim to conduct 2 analysis per business day, which helps me stay focused on my own finances.
I have been investing for about 10 years. I also enjoy trading short expiration options, and investing in stocks with 3-20 year horizons. I enjoy writing with Seeking Alpha to share my opinion and analyses. I am a large believer in the crowd source model championed by Seeking Alpha and believe every ounce of analysis and opinion should be considered when you invest your personal finances.
I am a fund analyst seeking heavily undervalued small cap stocks for long term investment. If the opportunity presents itself I will also play the short side on companies that I feel are heavily overvalued.
Individual Investor. Formal Education Accounting/Finance. I have a degree in Accounting from Quinnipiac University. I have over 20 years of trading experience having gained perspective from trading through the implosion of both 2000 Internet crash as well as the 2008-2009 Financial meltdown. I have garnered a high degree of market discipline with respect the asset pricing. I am interested in the relationships between macro level events and how they influence investments at at a micro level. I am a bottoms up stock analyst but seek broad market context as well in evaluating specific company stock pricing. Broad market trends have significant ramifications relative to individual stock issues. Investments are relative, so a study in all asset classes in critical.
I'm currently an investment professional. In my spare time I invest in my personal account, focusing on event-driven and obscure equities, where I believe large mispricings exist.
I'm an analyst for a family office and newsletter publisher. I wrote a microcap focused value oriented newsletter for over two years. Before that, I worked on the sell side and as an accountant.
I'm an inactive CPA and have passed the series 7, 66, 86 and 87 exams. I graduated from Emory University.
I consider myself a value investor. I enjoy studying obscure event driven situations, and have a bias toward smaller companies.
Have been investing in stocks for over 25 years. Worked on Wall Street on the equity side of the business. Now invest in both public and private equity. Try to identify Overlooked and Underfollowed names set up for outsized returns.
We are a research group that consults hedge fund and high-net worth clients. We specialized in identifying special opportunities from both the long and short side. The writer for 3D Analytics has professional traded for hedge funds for 10+ years and specializes in 1) finding hidden, unrecognized value, 2) shorting overvalued stocks, and 3) arbitrage situations. The articles are written solely by him, but has a group that assist him in finding opportunities, basic research, and editing.
***The premium subscription portfolio returned 9.3% in less than a year, significantly outperforming major indexes. For a free trial of the paid subscription, please click on the orange "FREE TRIAL" link to learn more. If you would like to receive future free updates on interesting companies, please click the orange "Follow" button on any page showing one of my articles. The "Follow" button is located at the top of the page, next to my profile name and picture. Also, please make sure to learn more about my paid SeekingAlpha Marketplace subscription service and take advantage of the absolutely free trial.***
The subscription portfolio uses several diversification strategies and delivers returns with low correlation to the markets.
Martin Vlcek is a full-time investor and analyst who has been actively investing and managing money for more than 15 years. Martin has an Economics degree. Martin’s investment philosophy is to hold a truly diversified portfolio of investments across asset classes with low or negative correlation and a positive carry if possible. His primary stock investment focus is on undervalued small-cap stocks with favorable risk-to-reward ratio and upcoming catalysts.
Martin became a full-time investor and money manager after a 15-year career in online marketing where he was one of the pioneers of the pay-per-click search. Martin later held managerial positions at several Fortune 500 companies and also managed his own startup company.
IMPORTANT DISCLAIMER: Martin is not a Registered Investment Advisor, Broker/Dealer, Securities Broker or Financial Planner. The Information in his articles, his comment and his premium subscription service on SeekingAlpha.com or elsewhere is provided for information purposes only. The Information is not intended to be and does not constitute financial advice or any other advice, is general in nature and not specific to any individual. Before using Martin's information to make an investment decision, you should seek the advice of a qualified and registered securities professional and undertake your own due diligence. None of the information provided by Martin is intended as investment advice, as an offer or solicitation of an offer to buy or sell, or as a recommendation, endorsement, or sponsorship of any security, company, or fund. Martin is not responsible for any investment decision made by you. You are responsible for your own investment research and investment decisions.
It's me, DTEJD1997 on Seeking Alpha. I sometimes post on Yahoo! stock message boards. Sometimes I make comments here.
I wish to keep this "nom de plume", as I have been posting for about a decade with it on Yahoo! and other financial websites. I have some amount of "equity" built into it.
Like my handle implies, I have a JD. I earned that in 1997. I am licensed but not actively practicing. I am originally from Detroit. Hence the "nom de plume", "DTEJD1997".
I have an undergraduate degree in Business Management (Finance).
I find the stock market interesting. I sometimes buy & sell stocks. I love investigating and analyzing things. I sometimes go off the "beaten path". I primarily invest in "nano" & micro-caps as I think I might be able to have an advantage there.
I hope that investors start to get "active" with the companies that they own. I strongly suggest reading and following everything that your company does. I also suggest voting your proxy statement. I will also contact management and engage them in conversation. I hope to get more "active" in the near future.
I hope that I can share interesting ideas in the future, they are definitely waiting to be found.
Jason Rivera is the author of How To Value Invest and has invested for five years and completely dedicated himself to becoming an excellent value investor in February of 2012. He is completely self-taught from books, websites, blogs, etc because he was not able to go to college due to health issues. He is a very conservative deep value and special situations investor who concentrates mainly on micro and nano caps and melds the philosophies of Warren Buffett, Benjamin Graham, Seth Klarman, and Joel Greenblatt into his own company analysis. He is aspiring to build his own "personal" MBA through the knowledge he is constantly gaining and contributes articles to Seeking Alpha, Guru Focus, Benzinga, and Insider Monkey.
If you like my work feel free to visit my blog at http://valueinvestingjourney.com where I write about various investing topics, post my articles, list my goals, and where I have posted my investing philosophy.
If you have any comments, questions, or potential job opportunities for me please contact me through Seeking Alpha, through my blog above, or at firstname.lastname@example.org
I'm a Managing Director at A North Investments (ANI), a quantitative hedge fund based in New York. Those who'd like to contact me, private message me here or email me at email@example.com.
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.
“The authority of those who teach is often an obstacle to those who want to learn.” - Marcus Tullius Cicero
The contributions here are DEFINITELY NOT an advice or recommendation to buy or sell. I would not act on all ideas shared here and do not expect anything different from the readers.
Have an academic and practical background in finance and investing (including hedge funds), please discount the same.
Manage an investment fund that focuses on under-followed or misunderstood stocks, especially in the small cap area. The fund has a strong focus on businesses with "Ft. Knox" balance sheets, large & sustainable free cash flow yields, and management teams motivated to drive shareholder value. From 2008 through 2015, the investment fund has out-performed the S&P500 total return index by over 400 basis points per year, despite an average net cash position of close to 30% or more. We have also provided investment advice to some wealthy families and family offices. Email firstname.lastname@example.org, phone 310-426-2045.
My name is Adam Behrman. I am the Principal of Woodfield Consulting Group, and the author for this account.
I prefer to analyze tangible industries for which I can gather personal research, such as industrials, E&P, or consumer. That said I enjoy the challenge of valuing more ambiguous assets for the greater opportunities.
My company, Woodfield Consulting Group, is focused on providing independent investment research across asset classes.
I hope you enjoy my writings and that they help you navigate to profitable investment opportunities.
MagicDiligence provides useful, simple, and effective stock screening tools inspired by Joel Greenblatt's Magic Formula® Investing methodology. Our Spells give value and growth investors a list of great stock candidates every day, and our advanced Spell Caster lets you create the Magic-style stock screen you've always wanted! Learn more about our exclusive set of investing tools today!
I am a Level III candidate in the CFA program. I have passed the Level I exam in June 2014 and the Level II exam in June 2015.
Outside of my interest in investing and stock analysis (which I currently do in my free time,) I am an IT project manager for a large multi-national firm. With my background in technology I have particular interest and stronger circle of competence in tech stocks, although I venture from this domain to certain other industries as well where I feel the businesses are simple and understandable or where I have particular first hand knowledge.
I consider myself a value investing enthusiast, following a bottom up fundamental analysis style approach. My value investing approach is quite simple - I look to "figure out the value of something, and pay a lot less".
I do not consider Growth and Value stocks as mutually exclusive, and in fact my favorite investments are:
small cap companies with good long term growth prospects,
strong business fundamentals
low financial leverage,
trading at an attractive valuation, and with some sort of short term difficulties that have caused the market perception to be negative in the short term.
To value companies I use a variety of techniques, sometimes heavily favoring traditional value metrics like P/B, and also I like good business (ROIC, ROE) trading at attractive multiples against EBITDA. I do discounted cash flow analysis where appropriate, and in some cases favor heavily on comparative valuation.
We have investment positions in some of the securities we write about, and our positions are subject to change at any time. Nothing here is to be deemed a solicitation for investment nor investment advice. Please read our full legal disclaimer available on our blog. http://lazarusip.blogspot.com/