Jeffrey Bronchick, CFA — Cove Street Capital

Counterfactual Investing

It may surprise you to hear that we sincerely believe there are aspects of the investment management industry that are truly unique. Before you start

Jeffrey Bronchick, CFA November 12, 2019

Somehow, This Never Goes Over Well

Pacific Investment Management Co. is moving the bar for an asset allocation fund co-managed by Rob Arnott. Arnott’s Pimco All Asset All Authority Fund has

Jeffrey Bronchick, CFA November 6, 2019

Interesting, but It’s Hard to See Either a “Traditional” Democrat or Republican Running in 2020.

Political Cycles and Stock Returns – Lubos Pastor and Pietro Veronesi

Jeffrey Bronchick, CFA November 4, 2019

Ben Claremon Interviewed on the Meb Faber Podcast

Meb Faber is a SoCal-based investor I have known for a number of years. Meb is the CIO of a quant firm called Cambria Investments.

Jeffrey Bronchick, CFA November 4, 2019

CSC Strategy Letter | Number 37 | Fitzgerald, Goethe, Value

Download Cove Street Capital’s October 2019 Strategy Letter Number 37: “Fitzgerald, Goethe, Value”

Jeffrey Bronchick, CFA October 22, 2019

Oh…and Just Be Right

You Can’t Be a Wimp — Make the Tough Calls — Harvard Business Review

Jeffrey Bronchick, CFA October 16, 2019

People Tend to Do Today What They Should Have Done Four Years Ago

Source: The Wall Street Journal

Jeffrey Bronchick, CFA October 14, 2019

The Next Time You Hear a CEO Touting EPS Growth…

…show him or her the following chart, courtesy of Goldman Sachs (with a hat tip to the Wall Street Journal): For those of you who

Jeffrey Bronchick, CFA October 9, 2019

While You Were Sleeping During that Earnings Call

Three American business school professors decided to find out. In a first-of-its-kind study, they analyzed more than 26,000 earnings calls from more than 2,100 public

Jeffrey Bronchick, CFA October 4, 2019

Fear the Righteous Person

In Michael Lewis’ interesting podcast, Against the Rules, he relays the biblical story of King Solomon adjudicating a dispute between two women who claimed they

Jeffrey Bronchick, CFA September 25, 2019

Al Rappaport Has Always Been an Important Read

How CEOs Can Forge a New Kind of Shareholder Value – Alfred Rappaport (Bloomberg Opinion) The Business Roundtable, the organization for chief executive officers of

Jeffrey Bronchick, CFA September 5, 2019

Hear Ye!

Today my colleagues propose to roll back the requirement that auditors attest to the adequacy of certain companies’ internal controls. The proposal’s analysis of the

Jeffrey Bronchick, CFA August 23, 2019

The Death of Value Investing…and Mean Reversion

I certainly have no interest in trying to call the top of any market cycle. No one has the ability to do that consistently. And

Jeffrey Bronchick, CFA July 29, 2019

Don’t Forget to Add the Value

“The paper is organized around a number of facts and fictions about the size effect that warrant clarification. The facts we present include: that the

Jeffrey Bronchick, CFA July 23, 2019

The First Quarter Since Q1 2009 That Our World Gets a Shout Out. We Wonder If It’s a Good Thing.

Jeffrey Bronchick, CFA July 23, 2019

Ben Claremon Interviewed by the Manual of Ideas

Continuing on the corporate governance theme, we are posting this oldie but goodie. A couple of years ago, I was interviewed by The Manual of

Jeffrey Bronchick, CFA July 18, 2019

CSC Strategy Letter | Number 36 | Big House, Small Doors?

Download Cove Street Capital’s July 2019 Strategy Letter Number 36 “Big House, Small Doors?”

Jeffrey Bronchick, CFA July 17, 2019

Also on the Summer Reading List

– Second Read: Writers Look Back at Classic Works of Reportage by James Marcus – In Our Mad and Furious City by Guy Gunaratne –

Jeffrey Bronchick, CFA July 16, 2019

For the First Annual Summer CSC Giveaway Contest

If we told you a very high ranking finance minister wrote and went public with this, could you guess the country? “In this administration, decisions

Jeffrey Bronchick, CFA July 12, 2019

Where are the Water Balloons? Why We Attend Conferences

The vast majority of the Cove Street investment team’s day is spent reading, creating and perusing models, and finding and talking to relevant third party

Jeffrey Bronchick, CFA June 26, 2019

It Is All About the G

Following on some recurrent themes, this is how we think about the world and the money entrusted to us. Said another way, “Wall Street” exists

Jeffrey Bronchick, CFA June 25, 2019

Greatness from the Great White North: Constellation Software

Constellation Software’s Shareholder Letter.

Jeffrey Bronchick, CFA June 24, 2019

Don’t Forget the “G” in ESG

ESG investing is all the rage today. For any of you not familiar with ESG, it has become synonymous for socially responsible and sustainable investing.

Jeffrey Bronchick, CFA June 18, 2019

Texas Pacific Land Trust

Law And Order: Proxy Offense Unit. Duh…Duh. At Cove Street Capital, we focus on business, value, and people. We put particular emphasis on the people,

Jeffrey Bronchick, CFA June 11, 2019

Ben Claremon Interviewed on The Acquirers Podcast

I have known Toby Carlisle for close to 10 years now. Toby is a deep value investor who runs a firm called Acquirers Funds. At

Jeffrey Bronchick, CFA June 4, 2019

Patiently Waiting for a Fat Pitch

Patience is not a virtue that is developed easily, especially if your primary job is to assemble portfolios of publicly traded equities. The amount of

Jeffrey Bronchick, CFA May 28, 2019

This is Why EVERYONE Should Hate Proxy Advisors

Today’s topic is the proxy advisor industry and the real abandonment of responsibility by the investment management/passive management industry despite what nonsense they espouse. My

Jeffrey Bronchick, CFA May 22, 2019

It’s Just This Simple

We read and listen to a lot of stupid things written by people who work at places who should know better. Sadly, they are often

Jeffrey Bronchick, CFA May 15, 2019

Bond People Think They Are Smarter Than Equity People. We Will See.

This Time Is Different, But It Will End the Same Way. – Daniel Zwirn, Jim Kyung-Soo Liew and Ajakh Ahmad

Jeffrey Bronchick, CFA May 13, 2019

Thoughts

Exclusive commentary and insights from Team CSC's deep fundamental research, repeatable investment process, and culture of continuous improvement.

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Author: Jeffrey Bronchick, CFA