tol1

Hi, I hope it is fine to post this on here - if not, please let me know. I have been working on the buy-side for a few years (investment banking before that), specifically for a large U.S. hedge fund in an event-driven strategy in equities. At this stage, I am looking to move into a fundamental strategy for the long-term, i.e. concentrated book, longer holding periods of 2-3+ years, and focus on Northern America and or Western Europe. I have been preparing my move including ideas and keen to hear from funds that are hiring. Thank you

I came across the Nilson Report. If anyone had recent editions, in particular, stats about the private label credit card space, would very much appreciate it.

Short book with basic idea of applying value investing principles and valuation steps in today's world. I think this is one of the few books that actually applies a value investing valuation framework and reminds me a bit of the Greenwald publications, albeit not the same quality. There were a number of points that were not entirely clear: - Why are the deferred taxes discounted by 1 year? - Addition to goodwill: what if a material portion of total assets are goodwill, would one still add a multiple of SG&A to goodwill? - The margin of safety calculations are based on the growth values throughout: I would argue the margin of safety should be based on the EPV rather. Overall, I can recommend the book and would solely focus on the first few chapters.

Good afternoon, I am looking for data / industry reports on credit card providers in the US and Canada. Any leads much appreciated.

Am also digging deeper in the NA railroad space and echo the suggestion to discuss in separate thread.

Thanks for posting. I kindof forgot about the quality statistics that AAR puts out. Took another look now. Looks like things haven't been going so well for rails since 2014. I'm not sure their current valuations are justified. Freight revenue per ton-mile has held up actually, but returns have converged. The industry has pricing power, but volumes have gone down materially.

If anyone has come across useful industry or other reports on the railroad industry in Northern America, please let me know. Thanks

Does anyone consider a part of the US healthcare value chain to be unaffected by the tie-up? From pharma, PBMs, wholesalers, retailers - I just cannot see anyone not being squeezed.

Is there a site or government entity that lists previous fines for similar breaches? Want to get a sense of what may be ahead for EFX.

The relatively brief book tries to outline the relationship and schools of thoughts between investing based on qualitative and quantitative criteria. As you know Damodaran is focused on number crunching and IMO tends to get lost in the rabbit hole with his valuation approach (just watch his Corporate Finance lecture where he spends hours on beta calculations etc). The book disappoints and the examples contradict what he tries to achieve: build a bridge between numbers and narratives. Why am I saying this? For instance, his valuation examples fluctuate heavily (2x based on amended assumptions). I prefer his blog and unfortunately cannot recommend the book.

Reading into the big 3 (EFX, EXPN, TRU) credit bureaus. Can anyone recommend a good industry report that also goes into the competitive environment and how the 3 differentiate themselves (if at all). Thank you for any leads.

Good afternoon, Does anyone have information on GMT and or Adelphi Capital? In particular, culture / strategy / track record. Thanks

Good afternoon, Is there a service that does a clean job in letting one download historical financials for European companies? Keen to hear from experiences and how it compares to Bloomberg. Thanks