Bolloré Video & Award

We were so pleased to have been declared the winner of SumZero’s contest, “Top Stocks for 2017” in the category Ex-US. This brings the total contest awards received by SumZero up to seven over the past few years. You can…

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Fourth Quarter 2016 Letter: Our Purpose

In our brief, 2.5-page quarterly letter, we follow in the footsteps of the manifesto we published in December and discuss how our lollapalooza process has not only helped us to properly execute on investment opportunities, but has become our very own reason for being. Our purpose.
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Home Valuations & Higher Rates

Last week, we completely revamped our research and model on Altisource Residential, a stock we very much still like given the deep discount to peers and a business model that’s proving the skeptics wrong thus far in 2016. By this…

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Investment Evolution Manifesto

Our time to evolve has come. And we also believe the investment community’s time for evolution is not only long overdue, but has already begun. We fundamentally believe in an investment process that promotes transparency and collaboration amongst interested parties. We…

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Spring is Coming

Europe is the world’s consensus short. One need not look too hard to find news stories about the instability of governments all over the continent, rising populist movements and “stagnant,” economies. This view has been well honed by economists, thought…

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Mental Model: Price Incentives

What better day to discuss the power of price incentives on a business than Black Friday? There is none, and so let’s dive right in with our thesis: temporary price incentives undermine the quality of the demand for a company’s…

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