Winter 2011

Blount International is positioned to benefit from increased demand in the outdoor products market, particularly with its strong brand portfolio and innovative product offerings. The company has a solid financial foundat…

Nielsen Media is becoming a public company again, and I have a historical connection with it, having owned it before it was called Nielsen Media. The company has a strong foundation and potential for growth.

Cigna is trading at 8x earnings, which is exceedingly cheap compared to its growth potential. The company is expected to benefit from the influx of uninsured individuals entering the market in 2014 due to healthcare refo…

Aetna is trading at 9x earnings, making it a compelling investment given its strong growth outlook. The company is well-positioned to capture new customers from the healthcare reform changes, which will likely enhance it…

WellPoint is also trading at 9x earnings, which is attractive considering the expected growth from the healthcare reforms. The company is likely to benefit from an increase in membership as more uninsured individuals gai…

Xerox is a top-ten position for the firm, particularly after the market reacted negatively to its acquisition of Affiliated Computer Services, causing a significant drop in stock price. This presents a buying opportunity…

McKesson is a drug distributor with a strong market position, holding over 92% market share alongside two other large players. The company is expected to benefit from growth in healthcare information technology and has a…

Builders FirstSource is a supplier/distributor to the homebuilding industry that has been losing money consistently since 2007. However, the company has the potential to generate significant EBITDA and revenues when home…

Subsea 7, formerly Acergy, specializes in deepwater installation of subsea equipment for the oil and gas industry. The company has a competitive advantage due to its technological expertise and the complexity of its oper…

Acergy is well positioned to benefit from the dramatic growth of deepwater development, particularly as natural gas discoveries become economically viable. The company has successfully restructured and is now debt-free, …

NewMarket is a low growth, mature business with significant barriers to entry and a strong competitive position. The company has shown improved earnings potential, generating approximately $12 per share annually, and has…

Subsea 7 is currently the largest position held, trading at $25 per share with earnings projected between $1.00-1.20 per share. Despite its high valuation, the company has strong management and a solid financial position…

BLT is undervalued due to misconceptions about its exposure to the U.S. housing market, with over 70% of sales coming from international markets. The company has a strong niche position with a global market share of 60-7…

The Williams Companies (WMB) is an integrated natural gas energy company that is undervalued due to low natural gas prices and skepticism about a potential business split. The new leadership is expected to unlock value b…

OPAP S.A. is undervalued due to the negative sentiment surrounding Greek stocks, trading at 4.5x EV/EBIT compared to a historical average of 8x. The company has a strong financial position with no debt and consistent cas…

Iridium represents an attractive structural short investment due to its impending financial challenges and increasing competition in the satellite communications industry. The company plans to invest $3 billion in its ne…

Research in Motion is undervalued at $47, reflecting market skepticism about its ability to sustain earnings. The company has a strong return on equity, significant cash reserves, and generates substantial free cash flow…

The company has an excellent franchise in pain medications and is expected to recover its earnings and valuation despite current pressures from generic competition. With a pipeline of potential drugs nearing approval, th…