Cove Street Capital requires a modern browser to look and function properly. Internet Explorer stopped receiving updates in January 2020. Using it may cause display issues on our website, and put your own online security at risk. We highly recommend switching to a secure modern web browser such as Chrome, Edge, Firefox, or Safari.

Thoughts

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

Category: Thoughts

Holy @#$& This is Good

I try to read widely. I stuff my IPAD with things and time goes by and I truly don’t recall how I ran across it.

Cove Street Capital May 13, 2021

The Report No ESG Organization Will Read

The IEA is arguably the key source of global energy issues and math. Summarizing: The aspirations of Green grossly underestimate the capacity of the existing

Cove Street Capital May 12, 2021

The State of Affairs in SPAC City

We don’t know these people and we are not vouching for their work or conclusions, but they are holding the right hot poker that is

Cove Street Capital May 11, 2021

Watch the Replay – Robotti Value Live – Markel 2021 with Cove Street Capital’s PM Jeff Bronchick

Cove Street’s PM, Jeffrey Bronchick, has a daughter in Richmond, Virginia, which coincidentally is the home of Markel Corp and their mini-Berkshire style annual meeting.

Cove Street Capital May 6, 2021

Berkshire Hathaway 2021 Meeting: Lessons in Asininity?

If there is something upon which anyone in the world can agree, it’s that there is simply an overwhelming amount of “information” out there that

Cove Street Capital May 5, 2021

Just Because We Think It Looks Dumb Doesn’t Mean We Don’t Try to Understand It

From artnet.com The Gray Market: How a Brazen Hack of That $69 Million Beeple Revealed the True Vulnerability of the NFT Market (and Other Insights)

Cove Street Capital April 29, 2021

The Land That Time Still Forgets: Public Investing In Small Cap vs Drowning in Private Equity Deluge

Some of the benefits of investing in private assets instead of public companies have been well documented. As an investor in a private fund, you

Cove Street Capital April 28, 2021

Value Investing in an Age of Speculation

The following is an excerpt from Cove Street’s Small Cap PLUS Q1 2021 letter. It represents a totally fictional, certainly not autobiographical, account of what

Cove Street Capital April 27, 2021

Eugene and Andrew Discuss Viemed (VMD) on the Yet Another Value Podcast

Eugene and Andrew discuss one of the more interesting businesses we are invested in at Cove Street. Viemed (NASDAQ:VMD) provides non-invasive ventilators (NIVs) to patients

Cove Street Capital April 22, 2021

Star Trek and Value

As we all know from Star Trek, there are many parallel universes out there. While their existence cannot be proven logically—at least up to

Cove Street Capital April 21, 2021

The 48 Hour Investment Process

No, this is not a spinoff of Tim Ferriss’s The 4-Hour Workweek. There are in fact no shortcuts to great investing. Having said that, it is very

Cove Street Capital April 20, 2021

A Quickie With Ben Claremon

I recently appeared on the Capital Employed podcast. While I do enjoy longer interviews where I can dive deep into Cove Street’s investment process and

Cove Street Capital April 13, 2021

Tips for a Successful Marriage

I am 5 years into a successful marriage, so I am slowly becoming an expert in the field. And like many things my grandmother told

Cove Street Capital April 8, 2021

ESG Investing Part 47

This is interesting and worth reading. There is a LOT of nuance behind Green Headlines. Go to Terrapass.com and see how green a bankrupt Canadian

Cove Street Capital April 7, 2021

CSC Strategy Letter | Number 43 | No Stonking Zone, Hodlers Only

Read last quarter’s Strategy Letter here. April 2021—Well, let’s just say things are different in 2021. From an investing standpoint—and from our standpoint—it’s obviously a

Cove Street Capital April 7, 2021

Lying or Aspirational: Part 74

This was culled from the first quarterly conference call for Canoo, which needless to say is a SPAC merger that as far as I can

Cove Street Capital April 6, 2021

This is Some of the Worst Thinking By an Unelected Official Tossing Around Trillions of Dollars We Have Ever Heard

Let’s just say the graveyard is full of those who think they are “bigger” than the market and “markets” exist to be bent to

Cove Street Capital April 5, 2021

No Young Person, We Cannot All Win at the Same Game

This relates to a lot of things in the world outside of Wobegon.

Cove Street Capital April 2, 2021

Ben Claremon’s Presentation to Titan Capital Management Students

This past week I had the distinct privilege of presenting to Titan Capital Management undergraduate students at Cal State Fullerton. Kelly Ko, who is a

Cove Street Capital April 1, 2021

Expert Bias

This is an older piece and an older theme, but it remains relevant. Thank you, David Epstein and Angela Duckworth, and a U Penn lecture

Cove Street Capital March 31, 2021

Eugene and Ben officially Named to Viasat (VSAT) Investor Relations Team*

*Eugene and Ben have not been appointed to VSAT’s Investor Relations Team. This is meant in a humorous manner due to the number of

Cove Street Capital March 30, 2021

Go Long Common Sense – It is Unusually Reasonably Priced

From the 2021 Brookfield Annual Report, Bruce Flatt’s Letter to Shareholders. Please Remember That You Own a Piece of Our Business Lastly, we encourage you

Cove Street Capital March 12, 2021

Capital Markets Ridiculousness: Exhibit 42

The only thing we have to add here is that this is FAR from being an outlier. Original article posted at Petition.com. Hertz Drops

Cove Street Capital March 11, 2021

The Dog That Didn’t Bark

The 2020 Berkshire Hathaway report as far as the “Letter to Shareholders” was short, boring, and not very funny. One plausible answer is that the

Cove Street Capital March 10, 2021

ViaSat Thinking

In thinking through some recent conference comments by CEO, Mark Dankberg, it struck us how “differently” the narrative is for Viasat versus the deafening

Cove Street Capital March 9, 2021

The Killing Fields: Where Aspirations and Reality Meet in Financial Markets

The process of “weighing” a stock promoter’s narrative is imprecise because “reality” as reflected via stock prices can be a rapidly moving target, as “things

Cove Street Capital March 8, 2021

Idiocy by Numbers: Marking “Big Electric Vehicle” to Market

Thank you Financials Times Alphaville for doing the work that supports what should be an obvious contention: this is ridiculous. Whether you are talking

Cove Street Capital March 4, 2021

The Value of an Excellent Perception of the Obvious….or Not…of Sellside Analysis by Charlie Ergen

This exchange is lifted from the recent DISH earnings call. DISH is attempting an “interesting/controversial/expensive/risky?’ build of a software-defined 5G network. They don’t promote, they

Cove Street Capital March 2, 2021

You Need More Than a Hammer to Build Something that is not a House of Nails

This week, another look at what value investing is and isn’t. Nothing really new here if you are a thinking investor, which means there

Cove Street Capital February 23, 2021

Ben Claremon the DealMaker

I recently had the privilege of appearing as a guest on one of the first episodes of the DealMakers Podcast. The conversation was a bit

Cove Street Capital February 16, 2021

Thoughts

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

Categories

Category: Thoughts

Holy @#$& This is Good

The Report No ESG Organization Will Read

The State of Affairs in SPAC City

Watch the Replay – Robotti Value Live – Markel 2021 with Cove Street Capital’s PM Jeff Bronchick

Berkshire Hathaway 2021 Meeting: Lessons in Asininity?

Just Because We Think It Looks Dumb Doesn’t Mean We Don’t Try to Understand It

The Land That Time Still Forgets: Public Investing In Small Cap vs Drowning in Private Equity Deluge

Value Investing in an Age of Speculation

Eugene and Andrew Discuss Viemed (VMD) on the Yet Another Value Podcast

Star Trek and Value

The 48 Hour Investment Process

A Quickie With Ben Claremon

Tips for a Successful Marriage

ESG Investing Part 47

CSC Strategy Letter | Number 43 | No Stonking Zone, Hodlers Only

Lying or Aspirational: Part 74

This is Some of the Worst Thinking By an Unelected Official Tossing Around Trillions of Dollars We Have Ever Heard

No Young Person, We Cannot All Win at the Same Game

Ben Claremon’s Presentation to Titan Capital Management Students

Expert Bias

Eugene and Ben officially Named to Viasat (VSAT) Investor Relations Team*

Go Long Common Sense – It is Unusually Reasonably Priced

Capital Markets Ridiculousness: Exhibit 42

The Dog That Didn’t Bark

ViaSat Thinking

The Killing Fields: Where Aspirations and Reality Meet in Financial Markets

Idiocy by Numbers: Marking “Big Electric Vehicle” to Market

The Value of an Excellent Perception of the Obvious….or Not…of Sellside Analysis by Charlie Ergen

You Need More Than a Hammer to Build Something that is not a House of Nails

Ben Claremon the DealMaker

Important Notice

Thoughts

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

Categories

Category: Thoughts

Stay up to date

Subscribe to CSC’s essential content.

Important Notice