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Two weeks ago OSTK shares traded north of $110/share. OSTK shares have declined (-35%) in just 10-trading days. This begs one simple question: what the hell happened? First and foremost, if you’re a longtime follower of OSTK this type of...
READ MORE >TREX has an $11B+ market cap. In a market full of excess, this singular data point has us shaking our heads day after day. After all TREX manufactures composite decking from wood pulp and recycled plastic. Based on the deluge of...
READ MORE >What changed? That is the one question that has been plaguing us (and many other short sellers) about TRUP for the past 12-months. What elements of TRUP’s business improved over the past year to...
READ MORE >“We have implemented various measures intended to reduce the percentage of our institution's cash basis revenue attributable to Title IV Program funds, including AIU’s deferred...
READ MORE >“Despite the tremendous opportunity at the Company, we have serious concerns about the ability of the Board of Directors (the “Board”) and management team to realize the Company’s true potential, allocate capital appropriately, and...
READ MORE >“Pelion” – a huge or difficult task. “In Greek mythology, the twins Otus and Ephialtes piled Mount Pelion on Mount Ossa and both on Mount Olympus in an attempt to reach heaven and attack the gods. The word is...
READ MORE >Overstock.com is a rapidly growing, profitable ecommerce platform generating significant free cash flow that also owns a promising portfolio of blockchain based technology companies. How rare is that?...
READ MORE >“So I am increasingly confident that this [UV-C anti-germicidal lighting] is a long-term product portfolio opportunity, not a point-in-time product portfolio opportunity. None of us can quantify how much that is yet. So good news is it's a -- it appears to...
READ MORE >Below please find a link to a powerpoint presentation outlining the results of our latest survey of lighting agents across the country.
READ MORE >Following a quarter in which EXPI added more than 4,700 agents, generated more than $23.6B in transaction volume, and of course increased the share count by 3MM, there’s really only one...
READ MORE >Eighty-one cents?! That’s all CWH gained yesterday following a quarter during which the generated 26.9% same store sales growth, delivered 740 bps of gross profit margin expansion, efficiently managed G&A costs, and beat...
READ MORE >There are better companies whose stocks have been absolutely destroyed over the past few weeks for posting the type of upside that TREX delivered in the third quarter. Yes, the company generated strong sales growth and...
READ MORE >Each and every day for the past year, we thought we would walk into our offices in the morning to the news of a sizeable stock offering from TRUP. After all, the company’s regulatory...
READ MORE >We sent the attached slide deck along with individual letters to Warren Buffett and Charlie Munger. This is the second time we have sent a letter to Warren Buffett. Eleven years ago, we sent a letter to Mr. Buffett to illuminate some of the...
READ MORE >The stock market has been extraordinarily kind to “fake it until you make it” stories that operate in large total addressable markets (TAM). If you run a long/short book in any...
READ MORE >“As we think about the possibilities of it, it wouldn't surprise me if we -- it wouldn't surprise me if we stayed away from the rental business, but we looked at alternative technology...
READ MORE >“What I mentioned before was not so much decline in ACAMS, but our desire to see it grow a lot faster, given what we know are the opportunities…. So from our perspective, we're at an inflection point at ACAMS, growth has plateaued a...
READ MORE >At 9AM this morning we will present at the third Contrarian Investor Conference along with several other noteworthy investors and analysts. You can register for the conference by clicking HERE. We wanted to pass along our slide deck on Trupanion which...
READ MORE >“I did read the article. I thought -- again, it was -- some of the arguments, again, I felt were very outdated, and frankly, some of them are just not -- again, I don't think really applied, but that's my opinion. But regarding the...
READ MORE >“So we have 2 goals going forward; grow our total file size [customers] profitably, by the way; and grow the average spend per member. That is our business model, and it always has been. We did...
READ MORE >Two weeks ago OSTK shares traded north of $110/share. OSTK shares have declined (-35%) in just 10-trading days. This begs one simple question: what the hell happened? First and foremost, if you’re a longtime follower of OSTK this type of...
READ MORE >TREX has an $11B+ market cap. In a market full of excess, this singular data point has us shaking our heads day after day. After all TREX manufactures composite decking from wood pulp and recycled plastic. Based on the deluge of...
READ MORE >What changed? That is the one question that has been plaguing us (and many other short sellers) about TRUP for the past 12-months. What elements of TRUP’s business improved over the past year to...
READ MORE >
