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Fisher on Tapering
Over the past few days we have seen a relatively minor selloff in domestic risk assets. A 4% swing peak to trough in equities is not exactly earth shattering, but the onset complacency and lack of...
View ArticleInitial Thoughts on Unilife’s New Debt Financing
Since I started looking at Unilife (UNIS), I’ve been extremely concerned with the company’s liquidity and solvency situation. They’ve been burning through cash like it’s going out of style and...
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Claims Rule Everything Around Me C.R.E.A.M.
Last week Bloomberg’s Michael McKee was interviewing one of my favorite economists, Neil Dutta of Renaissance Macro, and asked him whether he thought initial jobless claim deserved such a wide...
View ArticleThe Greatest Trade Ever
A few weeks back Bob Treue the president and founder of Barnegat Fund Management was kind enough to upload his November 2010 presentation at Oxford University. Here he explains at length and answers...
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Stone Street Advisors LLC Equity Research Performance Analysis, 2011-Present
When I started Stone Street Advisors, I hadn’t yet developed the full business plan, mission statement, or anything along those lines; I just wanted to do research and consulting differently, and had a...
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A Brief Example of The Limitations of Algorithmic Investment Selection
Earlier today, I came across this interesting piece of “research” identifying Jos. A. Bank as a compelling long opportunity. For those out of the loop, JOSB is in the process of being acquired by Mens...
View ArticleStone Street Advisors LLC Seeks Equity Research Interns
Stone Street Advisors LLC is seeking 2-3 undergraduate (exceptions made for graduate students on a case-by-case basis) interns interested in fundamental equity research (value-oriented, mostly...
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Rulers For $0.25! Markers For $0.97! Honey, Get The Kids, Lets Go To Staples!
I don’t cover Staples (NASDAQ:SPLS), nor do I claim any particular expertise in the office/school supply sector or other tangential businesses in which Staples attempts to operate. However, I can’t...
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My Ten Commandments for Finance Twitter
"Fucking cool it chief!" - Moses I am a noted admirer of rules and have recently fielded some requests for my rules of engagement on twitter after a tweet from my friend @munilass. I am sure these are...
View ArticleUnilife Releases OrbiMed Loan Covenants: Is Default Imminent?
UNIS finally filed the financial covenants from the OrbiMed loan agreement, four months after we pushed the SEC to force UNIS to make them public. Now, the question becomes whether the company will be...
View ArticleWhere’s the Slack?
This June, the Fed’s most reactionary member, and noted hand talking enthusiast, James Bullard gave what I found to be one of the most reasonable presentation on FOMC policy in years. It was titled...
View ArticleOverstock.com: An Opportunity Begging For an Activist With 10x Upside Potential
Long forgotten by Wall Street, we believe Overstock.com (OSTK) represents an attractive opportunity for the tenacious, operations-focused activist. Even despite the myriad risks - namely CEO Patrick...
View ArticleStone Street Advisors LLC Seeks Equity Research Interns
We are hiring interns for the Spring/summer semester. Continue reading →
View ArticleOn the Perils of Management Access & Straying From Process: Our Adventure...
We were initially skeptical about Jones Soda, but after meeting with management, we were left with a decidedly different, opposite impression. A few weeks later, we realized we hadn't taken...
View ArticleRainbow Connection
After reading a top notch piece of research from Nomura’s Nick Firoozye (Mythbusters – “LSD” Leverage, Shorting, Derivatives can be reasonable) and a few too many bourbons I decided to emulate the Team...
View ArticleP/E Ratios – You’re Doing it Wrong
All-too-often traders and investors who should know better throw around comparisons and analysis using P/E ratios, without much (if any) thought being paid to the fundamental determinants thereof....
View ArticleTown Sports’‘High-Value Low-Price’ Strategy Is Doomed To Fail. Horribly.
New York Sports Club parent Town Sports (CLUB) is being squeezed from both the bottom and top of the market, stuck between the proverbial rock and a hard place. Ultimately, trying to compete on price...
View ArticleAswath Damodaran’s Spring, 2015 Valuation Class Project Results
Each year, lauded NYU Stern finance professor Aswath Damodaran has his MBA students complete a live valuation project. The results, of 108 submissions, are extremely interesting! In addition to...
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