In SumZero's inaugural podcast episode, Albert Meyer of Bastiat Capital sits down with SumZero CEO Divya Narendra to parse Harry Markopolos' GE report and share insights on General Electric's biggest missteps from a forensic accounting perspective.
Published: May 24, 2018
Ben Axler founded Spruce Point Capital Management in 2009 following a decade as a banker at Credit Suisse and Barclays. Spruce Point runs a short activist strategy, and since its founding has exposed multiple frauds, forced over a dozen CEOs and CFOs to resign, and caused several companies expose...
Published: March 01, 2018
We are pleased to announce that van Biema Value Partners and Chuck Royce have selected Massif Capital as the final winner of the van Biema Value Partners Small-Cap Challenge hosted on the SumZero platform in March 2017.
Published: September 20, 2016
We are excited to announce the launch of a new research contest focused on the fixed income space. In partnership with the Sohn Foundation, starting in late September SumZero will be launching a dedicated research challenge just for those with actionable ideas in the credit space. Prizes will inc...
Published: November 05, 2015
While the world has balked at volatility in equity markets and oil, value investors have been reaping incredible dividends from even the largest and most liquid stocks. A.J. Noronha of Atlanta’s Desai Capital Management found such opportunity in Dow Chemical, the second largest chemical company i...
Published: August 10, 2015
Five months ago, SumZero member Rodrigo Lopez (formerly at Castle Union LLC) posted a long recommendation on Precision Castparts Corp (PCP:US) with a $332 price target. He presciently referred to the situation with the stock as, "Acquiring Buffett-like business at almost 2008 levels in EV/Inv. Ca...
We are pleased to announce the Winners, Runners-Up, and Honorable Mentions for the third leg of the <strong>FactSet Top Idea Tournament</strong>, the Special Situations contest. We would like to thank everyone who participated, including the judges panel, as well as our partner FactSet Systems fo...
Our analysis indicates that Schuff holds considerable value beyond the current tender price offered. The HC2 tender price is for $31.50, only 1.6% above the previous day's close. Conservative valuations range from $57-101, considerably more than the current tender price.
Tata Sponge ($64.0mm, EV $8.4mm) is a significantly undervalued deep value stock trading at mouth-watering multiples that initially invokes an "ick" reaction on the part of most investors to delve further. At current price of INR270 (US$4.15), Mr. Market is offering a consistently profitable busi...
POSCO is one of the frontrunners in the steel industry. Its numerous low cost advantages help it maintain that stature and enable it to grow and prosper. POSCO's stock is undervalued due to recent low profits caused by the escalation in raw materials costs coupled with the decline in steel prices...
Published: December 05, 2013
Smith & Wesson Holding Corporation is an iconic brand (92% brand awareness) with a 160+ year history trading at an attractive valuation. SWHC's handgun division increased revenues by more than 35% compared to 2012 results. This bodes well for a company with 55% of its sales coming from handguns (...
Published: October 16, 2012
Corning (GLW) reminds me of other cyclical stocks that have done well once earnings estimates first start to get revised upwards. A year ago, the Street was expecting Corning to earn $2.00 per share in 2013. Today, the consensus expectation for 2013 EPS is $1.43. In early 2011, Corning was tradin...
Published: October 03, 2012
CDE has one of the lowest cash costs per ounce of silver in the industry at $6.41 in Q2 2012, giving it a nice buffer compared to the $35 spot price of the metal. Coeur also has extremely strong operating cash flows of $430mn over the past 12 months, $213mn in levered free cash flow, and very lit...
Published: June 13, 2012
While sell-side analysts favor ABX, applying high 12-month price targets, investors have voted with sell orders, pushing down the stock price more than 20% YTD. Gold miners are unloved, despite Gold's historically high prices. The channels for investing in gold have increased dramatically in rece...
Published: May 17, 2012
TiO2 producers have been increasing prices consistently and, in my opinion, will continue to keep moving them higher at a measured pace. Every $100/tonne increase adds $46.5MM to EBT. Given that the major cost of production is feedstock, TROX should see significant bottom line improvement. Given ...
Published: September 11, 2012
Member: Andrew Gordon
Title: Other
Firm: Formerly at JP Morgan Capital Partners
Focus: Deep Value
Location: New York, NY
Undergrad: Harvard College
Post Grad: Columbia Business School (Current)
Notable Stock Expertise: GMCR, GLW, TRW
Corning (NYSE: GLW) Details
Recommendation: Long
Ti...