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Thoughts

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

Category: Thoughts

Confessions

I have been an on-again, off-again subscriber of the Journal of Applied Corporate Finance (and a predecessor) for more than 20 years. It is worth

Jeffrey Bronchick, CFA April 23, 2015

Further Thoughts on the Merits of Buybacks

by Rohan Rangaraj | Research Analyst One of the official Favorite Books in the Cove Street Capital Library is “The Outsiders” by William Thorndike, an

Cove Street Capital March 30, 2015

Send Your Kids to Bowdoin?

Download a recent speech by noted Soros “sidekick” Stanley Druckenmiller

Jeffrey Bronchick, CFA March 30, 2015

Thoughts

Pondering Things Way out of Our Control

by Eugene Robin | Research Analyst The magnitude of the recent price decline caught many of “us” off guard and caused many (including Cove Street)

Jeffrey Bronchick, CFA March 25, 2015

50 Shades of Grey, the G-Rated Version

From time to time I have embarrassing moments, like admitting I have read L.J. Rittenhouse’s book, “Investing Between the Lines: How to Make Smarter Decisions

Jeffrey Bronchick, CFA February 18, 2015

Forestar

Download a press release from Forestar Group Inc. (Ticker: FOR)

Jeffrey Bronchick, CFA February 10, 2015

Economics at Large

Are You Better at Currency or Oil Price Forecasting?

by Dean Pagonis | Research Analyst We think you might have noticed the dollar has been appreciating versus most currencies. (Have you heard the one

Jeffrey Bronchick, CFA February 9, 2015

Coherent and Consistent

This report remains the single most coherent and consistently negative argument against…a lot of things we do.

Jeffrey Bronchick, CFA February 9, 2015

Well Said

Mr. Gideon King’s parting notes on his decision to close down his hedge fund business: “Controlling capital and engaging intellectually is good work if one

Jeffrey Bronchick, CFA February 9, 2015

The Blame Game

From time to time we must look in the investment mirror and conclude that we are stinking and we have no one to blame but

Jeffrey Bronchick, CFA February 9, 2015

CSC Strategy Letter | Number 19 | The Great Complacency…Continued

Download Cove Street Capital’s January 2015 Strategy Letter Number 19, “The Great Complacency…Continued”

Jeffrey Bronchick, CFA January 29, 2015

The Reluctant Warriors

A friend of ours who works for a well-known activist firm summed it up perfectly when he said, “We are living in the era of

Jeffrey Bronchick, CFA January 8, 2015

Reading Disorder

A senior member of our investment team read this transcript and couldn’t help but replace the words “investment management” in lieu of the subject being

Jeffrey Bronchick, CFA December 18, 2014

What a Phony, Part II

Read Part I: “The Worst Piece of Corporate BS,” 02/11/2013 A recent article in the Wall Street Journal penned by Michael Dell is so full of

Jeffrey Bronchick, CFA December 2, 2014

Does This Make It Impossible for a Value Investor to Have a Beard?

“The hipster effect: When anticonformists all look the same” by Jonathan Touboul

Jeffrey Bronchick, CFA November 11, 2014

All That Is Necessary for the Triumph of Incompetence Is That Good Men Do Nothing

This is a very nicely done and thoughtful piece about a topic that every serious, long-term shareholder eventually faces, despite best intentions.

Jeffrey Bronchick, CFA October 17, 2014

CSC Strategy Letter | Number 18 | Metastability?

Download Cove Street Capital’s September 2014 Strategy Letter Number 18, “Metastability”

Jeffrey Bronchick, CFA October 2, 2014

ESG

Buyback BS

Of the myriad of reasons proffered daily as to why we are the verge of stock market doom, a “decline in share repurchase” has come

Jeffrey Bronchick, CFA September 29, 2014

Let’s Picket for Better Global Sewage

Politics aside, we are regularly asked by large institutional clients, “How is Climate Change affecting the way you invest?” Our short and practical answer is

Jeffrey Bronchick, CFA September 23, 2014

Leading Candidate for Worst Sell Side Piece in 2014

In regard to Tesla… Having defended our more cautious stance for over a year, we find ourselves torn in upgrading as it is clear substantial

Jeffrey Bronchick, CFA September 23, 2014

Quarterly Earnings: Our Sentiments Exactly!

by Ben Claremon | Research Analyst As long-term-focused investors, we have a certain disdain for the quarterly earnings rigmarole and the associated maniacal focus on

Jeffrey Bronchick, CFA July 29, 2014

CSC Strategy Letter | Number 17 | Hockey is Nothing Like Investing

Download Cove Street Capital’s July 2014 Strategy Letter Number 17, “Hockey is Nothing Like Investing”

Jeffrey Bronchick, CFA July 14, 2014

Very Scary

Our takeaway on Janet Yellen’s speech is three-fold: We paraphrase: “Wise regulation, which is mostly now in place globally, will ensure that future financial crises

Jeffrey Bronchick, CFA July 7, 2014

ESG

More Corporate Governance Weirdness

The “Entertainment Business” is well known for having a callous disregard for other people’s money. The origins of Live Nation (LYV) and some of the

Jeffrey Bronchick, CFA June 11, 2014

If Invited, I Shall Serve — A Rock and Roll Update

by Jeffrey Bronchick | Chief Investment Officer Fender tried to go public in 2012. It failed and here is why. In how the world should

Jeffrey Bronchick, CFA May 29, 2014

Philosophical Musings

Thoughts

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

Categories

Category: Thoughts

Confessions

Further Thoughts on the Merits of Buybacks

Send Your Kids to Bowdoin?

Pondering Things Way out of Our Control

50 Shades of Grey, the G-Rated Version

Forestar

Are You Better at Currency or Oil Price Forecasting?

Coherent and Consistent

Well Said

The Blame Game

CSC Strategy Letter | Number 19 | The Great Complacency…Continued

The Reluctant Warriors

Reading Disorder

What a Phony, Part II

Does This Make It Impossible for a Value Investor to Have a Beard?

All That Is Necessary for the Triumph of Incompetence Is That Good Men Do Nothing

CSC Strategy Letter | Number 18 | Metastability?

Buyback BS

Let’s Picket for Better Global Sewage

Leading Candidate for Worst Sell Side Piece in 2014

Quarterly Earnings: Our Sentiments Exactly!

CSC Strategy Letter | Number 17 | Hockey is Nothing Like Investing

Very Scary

More Corporate Governance Weirdness

If Invited, I Shall Serve — A Rock and Roll Update

Social Media Lets Us Pretend to Know Something About Everything

Reading List – The Classics

Buffett vs. Icahn on Coca Cola? Slam dunk for Icahn

A Word From Our Trader

Why We Continue to Think the ISS Approach Toward Corporate Governance and Executive Pay Is Moronic

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Thoughts

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

Categories

Category: Thoughts

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