Spring 2024
Graham & Doddsville, issue 49 · 71 pages
Page numbers are the ones your PDF viewer shows. Each one opens the PDF at that page; if your browser lands on page 1, scroll to the number. Open the full issue on Columbia's site ↗
Interviews
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p. 5 ↗
Jennifer Oppold
Alpine Peaks Capital
Jennifer started Alpine Peaks in 2017 after a decade at Select Equity. She runs long/short and long-only books and walks through Inter Parfums, HEICO and Trex.
Quality compoundersShort sellingPortfolio constructionBuilding a firm -
p. 24 ↗
Adam Patinkin
David Capital Partners
David Capital started in 2011 with $2 million. Adam explains his supply-side approach to shorts, with Brown-Forman as the example, and his value-plus-catalyst longs: Vistry, eDreams and Lifecore.
Short sellingSpecial situationsInternationalBuilding a firm -
p. 38 ↗
Freddy Brick
Muddy Waters
A Muddy Waters partner on how activist short selling works, activism in Japan, and the firm's two most recent shorts: Fairfax and Blackstone Mortgage Trust.
Short sellingActivismFinancials -
p. 53 ↗
Noah Snyder
Snöboll Capital
Noah looks for outsider CEOs, often outside the US. He talks about Kelly Partners in Australia, Vitec in Sweden and CBIZ, and what Golden Gloves boxing taught him about investing.
InternationalJudging managementQuality compoundersShort selling -
p. 64 ↗
Shayan Mozaffar
10x10y
A profile written by student Richard Lalane of Shayan, who runs 10x10y and co-teaches The Analyst's Edge at CBS. He arrived in the US at 18 with $1,000.
Short sellingCareer advice
Student pitches
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p. 49 ↗
Long Enstar Group
By Amar Kashyap
A run-off reinsurer with a long record of excess returns. Amar valued it at $400 to $500 a share against a $267 price.
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p. 51 ↗
Long Janus International Group
By Susan Liu, Garrett Wallis and Joe Ferguson
The market leader in its niche, with about 80% of the institutional segment. The team set a one-year target 32% above the price.