Our lead principal and Portfolio Manager Jeffrey Bronchick, CFA was asked to do an interview with Ross Roggensack of Oak City Consulting. Sartorial choices aside,
The following is an excerpt from our Q3 2020 Small Cap Plus letter. If you have ever found yourself struggling to explain why, in the
From Billion Dollar Loser, the new book chronicling the WeWork disaster: As one member of WeWork’s finance team put it: “The nature of private markets
What is the actual float of a company? How many shares are actually tradeable relative to the headline free float share count that major data
As we have noted in this space in the past, “these dudes” have been more than mostly right for a really long time on what
Value Losses Lead $10 Billion Quant Trader AJO Partners to Shut: AJO Partners, a $10 billion quantitative fund manager, will shut by the end of
Musings on Markets: Sounding good or Doing good? A Skeptical Look at ESG.
Most of the time when I am espousing the Cove Street gospel in the podcast realm, the audience consists of a bunch of people with
Never in the history of the world have more people had more access to information. And yet… On My Mind: They Blinded Us From Science
One of the more difficult parts of my job is to essentially say the same thing in novel ways in order to keep clients, listeners,
A very long time ago, the author was the first outside columnist for TheStreet.com, which in its early days had a terrific set of people
So imagine you are on one of those innumerable TV cop shows where apparently if you stick a variety of crime scene photos on a
An extraordinarily cogent narrative of why this is our largest position. He almost had us until the Buffett and Graham part. Worth reading twice end
Early in my career, I would saddle up the horse and carriage, go to the office, call a company of interest and ask for them
In a world that loves data and quantification no matter what the source or the possibility of reaching a bewildering machine learned conclusion that makes
This study should either seem obvious and not worth reading past the summary; or it should seem obvious and therefore Elizabeth Warren is the obvious
Swimming against the prevailing investment tide is often fairly difficult. Humans by their nature feel safer in the crowd and standing out from said crowd
From Charlie Ergen’s Q2 SATS Conference Call: “So it’s an interesting time. I think patience — I hope our patience will be rewarded. It hasn’t
Did Lockdown Work? An Economist’s Cross-Country Comparison by Christian Bjornskov
Observation: If something cannot go forever, it won’t. At current performance rates, there will be five stocks comprising 110% of US market cap. That “seems”
SEC Proposes a Significant Change in Reporting by Institutional Investors It is truly amazing how much time and effort and dollars are spent tracking what
Cove Street has received a number of inquiries from both existing and potential clients regarding any changes we have made to our investment process due
Cleary Gottlieb’s Memo released on July 24th: Shareholder Complaints Seek To Hold Directors Liable For Lack of Diversity
Radical Uncertainty: Decision-Making Beyond the Numbers by Mervyn King and John Kay I am fully aware of my ability to convey enthusiasm about seemingly esoteric
More fun summer reading. What is relevant are recent rumblings – promoted by “gee, not sure” – to allow 401K funds to offer Private Equity
While we prefer to spend most of our time on micro analysis, one cannot avoid being dragged into some of the issues of the day.
While we hate to generalize or box our thinking into “styles,” we naturally, self-evidently, and painfully—today—consider ourselves value managers. We have had many conversations in
Epidemic forecasting has a dubious track-record, and its failures became more prominent with COVID-19. Poor data input, wrong modeling assumptions, high sensitivity of estimates, lack
I recently had the opportunity to discuss Cove Street’s investment process and a few individual securities in an interview with Hidden Value Stocks. Specifically, in
As Beijing moves swiftly to increase control over Hong Kong citizens this week, the Wall Street Journal warns that their actions highlight a broader ambition
