Greenwich Investment Research is an independent, value-based investment research service used by institutional and accredited investors. We produce three research products:
Hackett's Special Situation Report identifies and explains outstanding investment opportunities; accordingly, investment positions are consistently contrary to conventional wisdom at the time they are published. Special situation reports are distributed to clients as opportunities are uncovered, typically 2-6 times per year.
Absolute Values identifies and explains sub-working-capital and/or low-multiplier investment opportunities that fall short of our special situations' hurdle but are prudent investments.
The Thoughtful Skeptic is published on weeks in which we do not publish one of our other reports and summarizes investment opportunities researched and discarded.
Research methodology includes:
Identifying potential actionable valuation anomalies through extensive reading and active stock-screening. Companies studied typically have equity market capitalizations between $500 million and $2 billion.
Achieving a thorough understanding of the financial statements, governance practices, business economics and valuation of investment candidates. The goal at this stage is to identify all the risks entailed in a particular investment.
Conducting extensive primary research when appropriate e.g., interviews of sales channel participants, competitors, suppliers and customers.
Developing inferences from data through the application of first principles.
Because the emphasis is on capital preservation, we aggressively look for reasons not to invest. The firm invests its own capital in every recommended transaction.
The objective of our research is to move the investment process from decision making under uncertainty past decision making under risk toward decision making under certainty.
Research produced by Greenwich Investment Research is available on a retainer basis. For more information or to become a client, please call Chuck Hanabergh, director of marketing, at 201-995-9005.
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