Research

On average each analyst has over 15 years of industry experience. Our analysts are recognized for their in-depth knowledge of their industries and companies, as well as having a keen grasp of the financials. We strive for a balanced approach that focuses on both long and short ideas. On the long side, we seek well-managed companies undergoing fundamental changes not yet reflected in the stock price. These companies typically have strong underlying value determined by various valuation methodologies. They should be able to demonstrate a sustainable competitive advantage, an above average return on capital, and improving cash flow generation to fund growth internally as well as the potential to return capital to shareholders. On the short side, we try to determine inflection points that demonstrate a deterioration in fundamentals and increased competition. We rely heavily on balance sheet analysis and cash flow trends in identifying negative trends within businesses/industries.