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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

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

Social Media Lets Us Pretend to Know Something About Everything

Read this article from the New York Times and replace many of the nouns with “investor,” “stock,” and “investment industry.” Long before social media, Wall Street

Jeffrey Bronchick, CFA May 29, 2014

Reading List – The Classics

RECENTLY ADDED: Conservative Investors Sleep Well – Philip A. Fisher Good Strategy Bad Strategy: The Difference and Why It Matters – Richard Rumelt Organizational Intelligence:

Jeffrey Bronchick, CFA May 29, 2014

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

by Jeffrey Bronchick and Ben Claremon We have been thinking about this issue for a few weeks, tempering our urge to dash out some heated

Jeffrey Bronchick, CFA May 9, 2014

A Word From Our Trader

There is more to life than increasing its speed. –Mahatma Gandhi by Matthew Weber | Director of Trading + Operations Even though we are “investors,”

Cove Street Capital May 9, 2014

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

Alleghany Corp’s 14A — This report is published for information purposes only. You should not consider the information a recommendation to buy or sell any

Jeffrey Bronchick, CFA April 21, 2014

CSC Strategy Letter | Number 16 | What Would You Do if You Were Prem Watsa?

Download Cove Street Capital’s March 2014 Strategy Letter Number 16, “What Would You Do if You Were Prem Watsa?”

Jeffrey Bronchick, CFA March 20, 2014

More Thoughts for the January 2014 Strategy Letter

Here are some thoughts that didn’t make it into our January Strategy Letter but that I wanted to clean off the plate for the New

Jeffrey Bronchick, CFA January 24, 2014

CSC Strategy Letter

CSC Strategy Letter | Number 15 | The Fear Pendulum: From End of the World to Market Melt-Up?

Download Cove Street Capital’s January 2014 Strategy Letter Number 15, “The Fear Pendulum: From End of the World to Market Melt-Up?”

Jeffrey Bronchick, CFA January 15, 2014

All About CSC

The Soft Stuff

Every December, the Cove Street Capital team spends both time and money on behalf of a charity. This year we spent an afternoon at the

Jeffrey Bronchick, CFA December 16, 2013

CSC Strategy Letter | Number 14 | Steve Jobs Didn’t Give a *!@% About the Debt Ceiling

Download Cove Street Capital’s October 2013 Strategy Letter Number 14, “Steve Jobs Didn’t Give a *!@% About the Debt Ceiling” slot game development

Cove Street Capital October 31, 2013

CSC Strategy Letter | Number 13 | Who Are You Going to Believe—These Non-GAAP Numbers or Your Lying Eyes?

Download Cove Street Capital’s August 2013 Strategy Letter Number 13, “Who Are You Going to Believe—These Non-GAAP Numbers or Your Lying Eyes?”

Cove Street Capital August 19, 2013

Holiday Reading – Dundee Annual Report

I am not sure I am 100% in alignment with “Gold is the Answer” but this ramble is worth reading on a number of fronts

Cove Street Capital July 2, 2013

Attention Almost Every Public Company With an A/B Ownership Structure: How to Create 35% More Shareholder Value in a Single Day and Set a Course for Further Gains

Press Release Young Broadcasting, Media General to Merge RICHMOND, Va., June 6, 2013 /PRNewswire/ — Media General, Inc. (NYSE: MEG) and privately held New Young

Jeffrey Bronchick, CFA June 11, 2013

CSC Strategy Letter | Number 12 | Harleys and Leather Jackets

Download Cove Street Capital’s May 2013 Strategy Letter Number 12, “Harleys and Leather Jackets”

Jeffrey Bronchick, CFA June 5, 2013

Markets, Rationality & Decision Making

Thoughts

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

Categories

Category: Thoughts

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

CSC Strategy Letter | Number 16 | What Would You Do if You Were Prem Watsa?

More Thoughts for the January 2014 Strategy Letter

CSC Strategy Letter | Number 15 | The Fear Pendulum: From End of the World to Market Melt-Up?

The Soft Stuff

CSC Strategy Letter | Number 14 | Steve Jobs Didn’t Give a *!@% About the Debt Ceiling

CSC Strategy Letter | Number 13 | Who Are You Going to Believe—These Non-GAAP Numbers or Your Lying Eyes?

Holiday Reading – Dundee Annual Report

Attention Almost Every Public Company With an A/B Ownership Structure: How to Create 35% More Shareholder Value in a Single Day and Set a Course for Further Gains

CSC Strategy Letter | Number 12 | Harleys and Leather Jackets

The Efficient Market Paradox

The Annual Pilgrimage to Omaha

Tessera: Our Vote is In

Ben Claremon and the Great White North

CSC Strategy Letter | Number 11 | Call Him Ishmael

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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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