Jeffrey Bronchick, CFA — Cove Street Capital

The High Price of Free Dumb

As we close out the year, I would like to “note” one Steve Duneier, who is frankly difficult to describe, as one can imagine after

Jeffrey Bronchick, CFA December 14, 2017

Is a Balanced Account 60% stock, 40% stock?

From FT.com: “People have taken their fixed income allocations and turned them into credit allocations because they are scared of rising rates,” says Ashish Shah,

Jeffrey Bronchick, CFA December 14, 2017

Cove Street Capital: Team Update

— Download this post as a PDF — “Until one is committed, there is hesitancy, the chance to draw back. Concerning all acts of initiative

Jeffrey Bronchick, CFA December 13, 2017

Five signs of a really functional market?

From FT Alphaville, December 7, 2017: 1) The spread between the top three exchanges offering your product is no less than… $4,000. 2) The utility

Jeffrey Bronchick, CFA December 11, 2017

Highlights From A Conversation with David Swenson

From a November 2017 Counsel on Foreign Relations interview by Co-Chairman Ermeritus Robert Rubin of David Swensen, CIO of Yale University. So for most of

Jeffrey Bronchick, CFA December 11, 2017

A Time-Tested Way to Lose Money

(Business Wire) — NEW YORK — November 17, 2017 Real Industry, Inc. (NASDAQ: RELY) (“Real Industry” or the “Company”) today announced that it has initiated

Jeffrey Bronchick, CFA November 20, 2017

The Next Time You Get the Bill in a Restaurant, Try Telling Them You Want to Pay in Adjusted Cash

One of Wall Street’s Favorite Metrics Is Now Getting Mocked | Bloomberg

Jeffrey Bronchick, CFA October 27, 2017

Other Things on Our Mind That Didn’t Manage to Work Their Way Into a Coherent Pattern for Our October Strategy Letter

BITCOIN: J.P. Morgan boss Jamie Dimon: “It’s a fraud. It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.” In

Jeffrey Bronchick, CFA October 19, 2017

CSC Strategy Letter | Number 30 | Can You Walk Past the Doughnuts?

Download Cove Street Capital’s October 2017 Strategy Letter Number 30, “Can You Walk Past the Doughnuts?”

Jeffrey Bronchick, CFA October 19, 2017

This Time is Really Not Different

— Download this post as a PDF — by Dean Pagonis | Research Analyst Intelligent investors can always come up with a slew of reasons

Jeffrey Bronchick, CFA October 12, 2017

At the Risk of Spending All Day Talking to Ourselves

Picking Stocks Is Hard. It’s Even Harder With Growth: Gadfly (Bloomberg Gadfly) — By Nir Kaissar Picking stocks is famously difficult. But just how difficult

Jeffrey Bronchick, CFA October 2, 2017

Rinse, Lather, Repeat: Trian and P&G

Some universal ideas that are entirely relevant here.

Jeffrey Bronchick, CFA September 22, 2017

Bullish or Bearish?

“Klarman’s Baupost Plans to Return Some Investor Money”– Bloomberg

Jeffrey Bronchick, CFA September 22, 2017

Amazon 1998

Being gluttons for punishment, this is the entire Bezos collection. At least we haven’t been short. Reprinted from the 1998 Amazon Annual Report Work Hard,

Jeffrey Bronchick, CFA August 30, 2017

Jeff Bezos’ 2016 Letter

While he is reigning terror on the rest of portfolio, these are thoughts we share from Jeff Bezos. First, never use a one-size-fits-all decision-making process.

Jeffrey Bronchick, CFA August 2, 2017

Satellite Potshots

— Download this post as a PDF — “Is there not A tongue in every star that talks with man, And wooes him to be

Jeffrey Bronchick, CFA June 30, 2017

Other Recent CSC Thoughts and Ruminations That Did Not Fall Into a Coherent Narrative for Our June Strategy Letter

Risk—the extent of loss that a person or an organization can withstand without having to significantly change spending habits. THIS drives a lot more market

Jeffrey Bronchick, CFA June 29, 2017

CSC Strategy Letter | Number 29 | Not Going Gently into the Night: Active Management and Electric Guitars

Download Cove Street Capital’s June 2017 Strategy Letter Number 29, “Not Going Gently into the Night: Active Management and Electric Guitars”

Jeffrey Bronchick, CFA June 29, 2017

The Incredible Shrinking Universe of Stocks

Interesting things other people are thinking.

Jeffrey Bronchick, CFA June 27, 2017

The Board of Extravagance

by Eugene Robin | Principal, Research Analyst Here at Cove Street, we often wonder: what would it be like to sit on a public company

Jeffrey Bronchick, CFA June 20, 2017

CSC’s Women in Finance Program Welcomes Beatrice Woodruff

The Cove Street Capital Women in Finance Program—Summer Edition—welcomes Beatrice Woodruff to the team. After an intensive CFA week of training, and to paraphrase Vince

Jeffrey Bronchick, CFA June 14, 2017

Tales From the Proxy…Cont’d.

By Jeffrey Bronchick, CFA | Principal, Portfolio Manager Colfax Corporation (Ticker: CFX) is a diversified industrial company whose present day life is cursed by the

Jeffrey Bronchick, CFA May 31, 2017

And You Thought You Had Alternatives in the Portfolio

From the Grants Interest Rate Observer: P.P.S. To root out speculative excess, a periodic mission of the Beijing financial police, is easier said than done

Jeffrey Bronchick, CFA May 31, 2017

A Great Letter from Shareholders to Management

(Except for the 25 year holding period part.)

Jeffrey Bronchick, CFA May 31, 2017

The Beauty of No-Called Strikes, Permanent Capital, Patient Partners, and Motivated Owners

This was once our largest holding before it grew up on us. — This report is published for information purposes only. You should not consider

Jeffrey Bronchick, CFA May 8, 2017

This Dude Remains One of a Kind

Press Release National Beverage Corp. Continues To Refresh Via Shareholder Value + Healthy Beverages And MORE Cash! FORT LAUDERDALE, Fla.–(BUSINESS WIRE)– National Beverage Corp. (NASDAQ:

Jeffrey Bronchick, CFA May 8, 2017

A Butterfly Beat Its Wings and…You Should Sign Up For This!

This was Cove Street Capital’s 2015 holiday book gift: From: Thomas N. Mahoney, CFA, CAIA, UBS Private Wealth Management To: Jeffrey Bronchick, CFA, Cove Street

Jeffrey Bronchick, CFA May 3, 2017

Notes From Proxy 2017 – Cont’d.

There are a number of highly successful companies that have corporate governance structures with several classes of stock. In many cases one of classes has

Jeffrey Bronchick, CFA March 30, 2017

Disappearing Alpha

This is an interesting piece that essentially says, “by the time you have finished reading this, you will have have wasted your time reading this.”

Jeffrey Bronchick, CFA March 28, 2017

Nice In Theory

We run separate accounts and a mutual fund, so we have 2 cents about Mr. Jason Zweig’s piece about the awful state of prospectus writing.

Jeffrey Bronchick, CFA March 28, 2017

Thoughts

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

Categories

Author: Jeffrey Bronchick, CFA

The High Price of Free Dumb

Is a Balanced Account 60% stock, 40% stock?

Cove Street Capital: Team Update

Five signs of a really functional market?

Highlights From A Conversation with David Swenson

A Time-Tested Way to Lose Money

The Next Time You Get the Bill in a Restaurant, Try Telling Them You Want to Pay in Adjusted Cash

Other Things on Our Mind That Didn’t Manage to Work Their Way Into a Coherent Pattern for Our October Strategy Letter

CSC Strategy Letter | Number 30 | Can You Walk Past the Doughnuts?

This Time is Really Not Different

At the Risk of Spending All Day Talking to Ourselves

Rinse, Lather, Repeat: Trian and P&G

Bullish or Bearish?

Amazon 1998

Jeff Bezos’ 2016 Letter

Satellite Potshots

Other Recent CSC Thoughts and Ruminations That Did Not Fall Into a Coherent Narrative for Our June Strategy Letter

CSC Strategy Letter | Number 29 | Not Going Gently into the Night: Active Management and Electric Guitars

The Incredible Shrinking Universe of Stocks

The Board of Extravagance

CSC’s Women in Finance Program Welcomes Beatrice Woodruff

Tales From the Proxy…Cont’d.

And You Thought You Had Alternatives in the Portfolio

A Great Letter from Shareholders to Management

The Beauty of No-Called Strikes, Permanent Capital, Patient Partners, and Motivated Owners

This Dude Remains One of a Kind

A Butterfly Beat Its Wings and…You Should Sign Up For This!

Notes From Proxy 2017 – Cont’d.

Disappearing Alpha

Nice In Theory

Important Notice

Thoughts

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

Categories

Author: Jeffrey Bronchick, CFA

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