valueventures

Started a position in GoodRx post-earnings selloff. Will look to add if there's further selloff post-lockup expiration. Surprised there's not more talk on this one on the forums.

I like Wildbrain too, Old West's Q4 letter had a helpful write-up. Wildbrain posted a strong Q2, but my main concern is the leverage ratio. While it's improving (they plan to bring it down to the mid-4x level by end of their Fiscal 2022), it's still quite high. Do you see this as a concern? (And agree we should start a separate thread on this!)

USAT

PCYO and LSYN

Hi All, I am looking to invest in an index fund while holding some individual stock positions as well. I am 25 years old and have a long expected holding period and reasonably high risk tolerance. If you could only invest in ~10 stocks with an expected holding period of 10+ years, which stocks would they be and why?

Started a position in AOBC last week

For me, I was initially more interested in AOBC because the valuation was more compelling than RGR. My research was in line with Seeking Alpha articles (Justin Wu and H.A. Capital Management have good write-ups for reference). I feel that concern over firearm demand is overblown and think demand should stabilize more in the long run. While AOBC does not necessarily have a moat, I'm confident that its brand power (S&W) will allow it to preserve market share. The rebranding strategy is a question mark, but the fact that it's more a form of vertical integration than pure inorganic growth gives me solace. This was reiterated on the conference call, as management announced its intent to build a distribution center for all AOBC products to recognize efficiencies and harvest synergies. Management has been prudent with acquisitions in the past and reiterated several times on the call its commitment to gross margins of 37% to 41%. AOBC has been steadily growing its intrinsic value over time, and I feel it will stand to benefit once the tide turns.

I picked up some shares this morning below $18. I've had my eye on AOBC for a few weeks and was surprised to see such a sell-off after a reasonably strong quarter.

Thank you all for the helpful responses, I really appreciate it! @Ballinvarosig Investors: Starting an investment blog is a great idea. This will help me crystallize my thoughts and allow for more interaction with other investors. @Sionnach: Alternative investments is an avenue I've never really considered, with the exception of distressed debt and some special situations. I'll take a look at the Milken Institute and the funds you mentioned. @Packer16: Networking with other investors makes sense, and I'll continue to do this. Since I would not open a fund/firm for at least a few years, hopefully I'd be able to generate enough wealth by then to not rely entirely on investment fees. @SharperDingaan: Main Street corporate finance is something I've considered. I have done some research on accelerated MBA programs, but have not really looked into co-ops or online MBAs. A quick search shows that some very good schools offer online MBAs (Kelley, Tepper, Kenan-Flagler, etc.), so this is definitely worth exploring more.

Hi SharperDingaan, Thanks so much for your response! I should have been more clear in my initial post, but I am not interested in the Wall Street route. I had considered sell-side equity research during my college years but am put off by the underlying investment philosophy. I have thought about doing an MBA in Finance or studying for the CFA. In terms of the MBA option, since I already have a BSBA in Finance, I question how useful an MBA would be from a learning perspective. I do see some merit in getting an MBA from a recruiting/networking perspective, but am not sure if this outweighs the significant costs of going back to school. I would be more inclined to study for the CFA and build credibility that way. At the same time, however, I recognize that earning certification would not necessarily make me a better investor and thus may not be the best use of time. I have considered opening my own firm (long-term of course, since I still have much to learn), but I need to do more research on the logistics of this. I know it's fairly common for financial planners to start their own firms, so I'd imagine it's not too difficult to start your own independent advisory firm. Of course starting the firm is the easy part; it's difficult to secure a sizable client base and build capital accordingly.

Hi All, I am relatively new to the forums but have enjoyed reading the valuable insight shared on here. Like many of you, I am very interested in value investing and would love to work in the field someday. I am hoping you can help me understand the career prospects for value investing. My Background I am 23 years old and graduated from Georgetown’s McDonough School of Business last May with a degree in Finance. While I enjoyed my Georgetown experience and am very grateful to have studied there, I am somewhat disillusioned with the education I received. Around the time of junior year recruiting, while strongly considering the Wall Street route (primarily equity research), I found myself having difficulty structuring stock pitches and preparing for interviews. I stumbled upon value investing and soon read the classics (Graham, Pabrai, Klarman, etc.). It was at this moment that I realized the disconnect between value investing and modern finance teachings. I ultimately decided to go into management consulting with the idea that I would study value investing in my spare time. I have been doing this for the past six months or so, and have enjoyed my investment research far more than my consulting work. Career Prospects While I’m currently in management consulting, I would like to transition to some sort of investment management career that utilizes my interest in value investing. I have searched for such careers online, but have not found much that appeals to me. Most investment management jobs require more advanced credentials (MBA, CFA progression, etc.) than I have or simply rely on different investment philosophies (Wall Street short-term earnings focus) than value investing. The consensus seems to be that most of these opportunities exist in hedge funds, which recruit out of top MBAs and Wall Street banks, or require opening a fund to manage money. I realize that I am still quite young and have limited investment experience under my belt, but would appreciate if anyone could shed some light on potential careers that might interest me. On that note, I am curious if most of you are employed in this field or simply studying investing as a hobby, as I am right now. Thanks in advance for your help!

Hi all, I have recently started researching RGR and AOBC and am considering an investment. Both have been punished by the market since the election and appear cheap. I am expecting firearm demand to rebound long-term and feel that these companies stand to benefit. Has anyone else looked into RGR and AOBC and, if so, what are your thoughts?