Fundamental, bottom-up equity research with a long-term orientation. Focused on business quality, durable competitive advantages, and margin of safety. Reports reflect independent analysis and do not represent the views of any institution.
Tripadvisor is priced like one melting metasearch business. It's actually two businesses, its a declining Hotels segment, and Viator which is the largest online experiences…
Read memo →Pason Systems is the dominant provider of data management systems for oil and gas drilling rigs in the Western Hemisphere, holding roughly 65% of the US market and 85% of the…
Read memo →The foundry industry is undergoing the largest capacity build-out since the 1990s.
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