Published: February 08, 2013
That fact that a $30 billion market cap company with an admirable track record of success lowered its guidance twice within a few weeks raised a red flag. It shows the business has near-zero visibility and no control of its fate in its country of operation. To add insult to injury, the overly opt...
Published: November 19, 2012
A weak tape, illiquidity, and (presumably) a seller playing for a takeout have created a unique opportunity to own a strong regional QSR operator with 10%+ unit growth, FY13 commodity tailwinds, and recent top-line momentum at a steep discount to its peers and its own historical valuation.
Published: November 06, 2012
YUM’s China segment is becoming less correlated to Chinese exports and more aligned with disposable income trends. With the Chinese government's mandate to continue urbanizing its rural population, YUM's Chinese customer base grows and has higher disposable income.
Published: May 07, 2012
<em>(The short call on GMCR was featured in a past SumZero Weekly Market Dispatch email)</em>
“I know it is tough to short on valuation alone, but this short is motivated by consensus management selling and in large size. The CFO has sold 38% of her shares, General Counsel 87%, President 13% O...