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
This is emblematic of Dumb Money — courtesy of people who are Smart Sellers: Lemonade IPO
As analysts, we are tasked with identifying companies that can produce favorable risk adjusted returns with a substantial margin of safety. Like any number of
JUNE 2020 — We are back, to some degree. I am referring more so to communication with the world outside of our client base,
At risk of creating a widespread Dankberg “crush,” this is the “beyond the spreadsheet” case for Viasat that doesn’t get much play from the “how
It is almost always a contrary indicator when the sell-side is unanimous, but what happens when they can’t agree at all? In reality, when there
Cove Street’s experience in working collaboratively with companies to improve corporate governance practices and capital allocation strategies has yielded a very simple insight: being a
“We” applaud the creation of Exchange Traded Funds as a low cost and liquid way for investors to achieve portfolio diversity. We then apply the
At a recent “meeting” of the Asset Management Advisory Committee, Jay Clayton, chairman of the Securities and Exchange Commission, noted: “I have not seen circumstances
