Embedded below is my Fall 2012 strategy paper, “Hunting Endangered Species: Investing in the Market for Corporate Control.” From the executive summary: The market for corporate control acts to catalyze the stock prices of underperforming and undervalued corporations. An opportunity exists to front run participants in the market for corporate control—strategic acquirers, private equity firms, […]
Search Results for 'endangered species'
Hunting Endangered Species: Investing in the Market for Corporate Control (Fall 2012 Strategy Paper)
Posted in Catalysts, Contrarian investment, Strategy, tagged Activism, Activist investment, Activist Investors, Shareholder Activism, Value investing on October 9, 2012| 3 Comments »
Endangered Species 2001
Posted in About, Activist Investors, Audiovox Corporation (NASDAQ:VOXX), Catalysts, Dataram Corporation (NASDAQ:DRAM), Ditech Networks Inc (NASDAQ:DITC), Stocks, Value Investment, tagged Activism, Activist Investors, Darwin's darlings, Endangered species update, Shareholder activist, Value investing on April 14, 2010| 2 Comments »
In the Spring 1999 Piper Jaffray produced a research report called Wall Street’s Endangered Species by Daniel J. Donoghue, Michael R. Murphy and Mark Buckley, then at Piper Jaffray and now at Discovery Group, a firm founded by Donoghue and Murphy (see also Performance of Darwin’s Darlings). The premise of the report was that undervalued small capitalization stocks (those with a market […]
Endangered species update: The extinct, the survivors, and the new watch list
Posted in About, Activist Investors, Catalysts, Chromcraft Revington (AMEX:CRC), Stocks, tagged Activist investment, Catalysts, Chromcraft Revington Inc (AMEX:CRC), Darwin's darlings, Endangered species update, Value Investment on April 13, 2010| 1 Comment »
In March I highlighted an investment strategy I first read about in a Spring 1999 research report called Wall Street’s Endangered Species by Daniel J. Donoghue, Michael R. Murphy and Mark Buckley, then at Piper Jaffray and now at Discovery Group, a firm founded by Donoghue and Murphy (see also Performance of Darwin’s Darlings). The premise, simply stated, is […]
Greenbackd Endangered Species, Activism and Liquidation Report
Posted in About, Greenbackd, Value Investment, tagged Activist investment, Greenbackd, Liquidating Value, Liquidation Value, Net Current Asset Value, Net Net Stock on March 25, 2010| 5 Comments »
I’m considering launching a subscription-only service aimed at identifying stocks similar to those in the old Wall Street’s Endangered Species reports. Like the old Wall Street’s Endangered Species reports, I’ll be seeking undervalued industrial companies where a catalyst in the form a buy-out, strategic acquisition, liquidation or activist campaign might emerge to close the gap between […]
Endangered species list
Posted in About, Activist Investors, Stocks, Value Investment, tagged Activist investment, Catalyst, LBO, Leveraged buy-out, Private Equity on March 24, 2010| 1 Comment »
Zero Hedge has an interesting article, How To Capitalize On The Upcoming Irrationally Exuberant LBO Bubble, about “the imminent tidal wave of going private deals.” Privatisations are one of the means by which undervalued small capitalization stocks can “close their value gap.” Said Daniel J. Donoghue, Michael R. Murphy and Mark Buckley in Wall Street’s Endangered Species: Management buy-outs can […]
Hunting endangered species
Posted in About, Activist Investors, Catalysts, Stocks, Value Investment, tagged Activist investment, Value investing on March 11, 2010| 18 Comments »
Back in the spring of 1999, when the world was enamored of dot coms and not much else, three guys at Piper Jaffray, Daniel J. Donoghue, Michael R. Murphy and Mark Buckley*, produced a superb research report called Wall Street’s Endangered Species. The thesis of the paper was that there were a large number of undervalued companies with […]
Millennial Investor Patrick O’Shaughnessy on Searching For Deep Value
Posted in Strategy on September 16, 2014| Leave a Comment »
Millennial Investor Patrick O’Shaughnessy has a great post on searching for deep value stocks, which discusses the opportunities I canvass in my new book Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations (hardcover or Kindle, 240 pages, Wiley Finance). Deep value investing is a powerful way to beat the market, but deep value […]
Research
Posted in on December 27, 2012|
This page contains links to my Books Presentations Media Articles White Papers Research Papers Books The Acquirer’s Multiple: How the Billionaire Contrarians of Deep Value Beat the Market (2017) Concentrated Investing: Strategies of the World’s Greatest Concentrated Value Investors (Wiley Finance, 2016) Deep Value: Why Activist Investors and Other Contrarians Battle for Control of Losing Corporations (hardcover, […]
Which price ratio best identifies value stocks?
Posted in Enterprise Multiple, Enterprise Value, Stocks, Strategy, tagged Activist investment, Darwin's darlings, EBITDA/EV, EBITDA/TEV, Enterprise multiple, Enterprise Value, Stock, Strategy, Valuation, Value Investment on April 30, 2012| 26 Comments »
Which price ratio best identifies undervalued stocks? It’s a fraught question, dependent on various factors including the time period tested, and the market capitalization and industries under consideration, but I believe a consensus is emerging. The academic favorite remains book value-to-market capitalization (the inverse of price-to-book value). Fama and French maintain that it makes no difference which […]
Buyout targets
Posted in About, Stocks, Value Investment, tagged Darwin's darlings, Endangered species update on September 23, 2010| Leave a Comment »
The Street has an article Companies That Serve as Buyout Targets advocating a Darwin’s Darlings / Endangered Species-type strategy for buying stock: When evaluating small-cap stocks, individual investors would do well to emulate private-equity professionals. Focusing on balance sheets and private-market valuations of small companies cuts through the noise sounded by volatile stock markets like […]
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