Fall 2015
Graham & Doddsville, issue 25 · 48 pages
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Interviews
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p. 1 ↗
Alex Sacerdote
Whale Rock Capital
Alex invests in technology with an S-curve framework to find companies whose earnings power can grow exponentially. His ideas include Apple, Amazon, Ellie Mae and NetEase.
TechnologyGrowth investing -
p. 1 ↗
Ed Bosek
BeaconLight Capital
Ed looks for ideas that are Fundamental, Meaningful and Different. He runs a global generalist book, long and short, and walks through Daqin Railway in China and Builders FirstSource.
InternationalShort selling -
p. 1 ↗
Jane Siebels
Siebels Asset Management Research
Jane grew up around commodities. She shares her outlook for commodities and emerging markets and explains her open, outsourced research platform.
Macro and marketsInternational -
p. 1 ↗
Hugh Wrigley, James Ferguson & Andrew Burns
Global Endowment Management
The GEM team on pay in the investment business, the value of being able to invest in small corners, and the risks of moving from analysis to management.
Building a firmCareer advice
Student pitches
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p. 16 ↗
Long Rentech Nitrogen Partners Paired with a short in CVR Partners
By Nielsen Fields
A merger-arbitrage pair trade around Rentech Nitrogen selling its East Dubuque plant to CVR Partners.
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p. 18 ↗
Long Tenneco
By Justin Hong
The stock fell on China, mining and a Volkswagen disruption. Justin argues none of that touches the long tailwind from stricter emissions rules.
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p. 20 ↗
Short Las Vegas Sands
By Alexander Levy
The Macau growth story stopped working as China slowed and a corruption crackdown hit spending.