Stocks-in-Depth
Stocks-in-Depth thoroughly examines the fundamentals of reasonably valued high-quality small and mid-cap growth companies. It is produced by GARP Research, a provider of equity research to institutions including many of the most well-known fund managers for over 20 years. GARP is known for its granular modelling of business lines and in-depth assessment of competition and served markets. Stocks-in-Depth searches for value and growth by researching stocks that may be out of favor, or where a major catalyst to earnings growth is hidden. Our financial models attempt to shed light on trends underneath opaque segment reporting. Stocks in Depth emphasizes balance sheet accounts and profitability margins to determine underlying return on capital, and maintains healthy skepticism regarding pro forma adjustments and undue reliance upon unconventional measures such as EBITDA. We emphasize field visits with managements, industry conferences, non-public competitors and ancillary fields to detect industry dynamics. In our search for the best companies and investment opportunities, we often challenge the consensus view. StocksinDepth forecasts over the long-term, typically over about a three year horizon, and review track records going back for years.
- Update frequency
- every 13 days
- Average duration
- 66 minutes
- Episodes
- 39
- Years Active
- 2015 - 2019
SID 0039 Mitel (MITL) - Part 1
Mitel has was long relegated to obscurity within the institutional investment community. However, the discussion in this series of episodes will broadly portray what we find are Mitel’s underappreci…
SID 0038 Realty Income Part II
Realty Income has a diversified portfolio by sectors within the single parcel commercial property market. What are the risks of each sector, and how does management approach each?
SID 0037 Realty Income (O) - Part 1
Realty Income operates in a commoditized industry, the ownership of standalone real estate parcels used by certain commercial retail enterprises. In this podcast, we discuss how Realty Income struct…
SID 0036 Knowles (KN) Part III
Demand for MEMS microphones increased greatly when Apple put four microphones into the iPhone7. What might further stimulate the worl's appetite for MEMS microphones? In this podcast, Stocks in Dep…
SID 0035 Knowles - Part 2
Knowles two most important businesses, MEMS microphones and hearing aid components, share a common theme of eroding market dominance. But, management has devoted a large percentage of revenue into R…
SID 0034 Knowles (KN) - Part 1
Knowles Corp. has suffered mightily since its spinoff from Dover Corp. in early 2014, mostly from the disastrous acquisition of Sound Solutions. MEMS penetration of smartphones, currently around 1.7…
SID 0033 Free Trade Doesn't Work - Part 4
Donald Trump is about to be inaugurated as the 45th president of the United States. As far as we can tell, every other country in the world advances a self-serving industrial policy, to the detrimen…
SID 0032 Free Trade Doesn't Work - Part 3
Institutional investment strategists follow economic and market data closely, and tend to weave together a narrative that explains the current trend. Presently the US dollar is rising, like it has t…
SID 0031 Free Trade Doesn't Work - Part 2
The historical record shows that countries that rise to economic greatness did so through a strong industrial policy, which incorporates tariffs and non-trade barriers. Moreover, at their apex these…
SID 0030 Free Trade Doesn't Work - Part 1
History is replete with unanticipated events: Pearl Harbor, the dismantling of the Berlin Wall, the 2008 credit meltdown, and now the improbable ascendance of Donald Trump to America’s highest office…
SID 0029 Generac (GNRC) Part 4
When we first examined the home standby generator market, we were struck by what seems to be a unanimity of opinion that tremendous secular growth would be driven by homeowners increasingly discoveri…
SID 0028 Generac (GNRC) Part 3
Generac astutely commandeered the clear leadership position in home standby generators during the late 1990s and after the start of the millennium. In so doing, it developed an expertise in engines …
SID 0027 Generac - Part 2
For at least a decade, Generac's strategy has been to leverage off of its clear leadership in the home standby generator market to establish market share in portable generators, power washers, and co…
SID 0026 Generac - Part 1
Generac has seen its sales and earnings decline for over two years. Four powerful storms swept across the U.S. in the 2011-2012 period, but ever since then electric power outages have been well belo…
SID 0025 Central Garden & Pet - Part 3
Central Garden & Pet contains numerous distinct businesses within its two namesake segments. In part 3 of this podcast, we spend nearly two hours breaking down the pieces within these segments, and …
SID 0024 Central Garden & Pet (CENT) - Part 2
In Part 2 of the Central Garden & Pet podcast, we continue to review the operations of the company beginning with portions of the Pet segment, mainly Aquatics, Flea & Tick products, calming products,…
SID 0023 Central Garden & Pet - Part 1
In Part 1 of this three-part podcast, we start by presenting some background on Central Garden & Pet, and we discuss management changes over the last few years that have affected the company’s strate…
SID 0022 Columbia Sportswear (COLM)
In this podcast, we examine what has caused growth in outerwear, sportswear, and footwear to accelerate since the 2008 credit crisis for key players such as Columbia, North Face, and other brands. T…
SID 0021 Power Integrations (POWI) - Part 2
In Part 1 of our podcast of analysis of Power Integrations' stock, we laid out how we saw it fitting in to stock market trends we've seen in 2016, which have been changing from the pattern followed s…
SID 0020 Power Integrations - Part 1
The last major milestone for Power Integrations was its release of LinkSwitch2 in late 2008 to early 2009. LinkSwitch, by our estimate, is the company's leading product family. However, management …