Ammo, Inc. (POWW): A Little Firepower to Your Portfolio

America is known for apple pie, baseball and guns (to name a few). Starting at the A's in my list of OTC stocks I stumbled upon Ammo, Inc. (POWW). The company produces high performance, precision ammunition for rifles and handguns. The stock is tiny ($100M market cap) and very illiquid (trading volume averages less than 5,000 shares … Continue reading Ammo, Inc. (POWW): A Little Firepower to Your Portfolio

What Makes a Great Business

Tremendous piece from Travis on ‘What Makes a Great Business’.

This is a MUST read for any investor.

Travis Wiedower

A great business is like a great money manager. They take money in, invest it, and turn it into more money. In the case of a company, it can invest its money into manufacturing plants, marketing, hiring employees, or a variety of other things. If those investments return more money than they cost, the company’s value increases. If investments return less money than they cost, the value of the company decreases. Thus, building a successful business can be boiled down to investing money at high rates of return.

But there are only so many high return investments that a business can make. Just as finding undervalued investments became more difficult for Warren Buffett as Berkshire Hathaway grew, traditional businesses can only invest their capital at high rates for so long.

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1Q 2019 Investors Letter

1Q 2019 Rockvue Capital (The Fund's Name) 16.62% S&P 500 13.53% Russell 2000 14.64% Rockvue Capital vs. S&P 3.09% Rockvue Capital vs. Russell 2000 1.98% The Fund’s performance exceeded the S&P and Russell 2000 return during the 1st quarter of 2019. Since launching in 1Q 2018, the (paper) Fund has returned 18.82% compared to the … Continue reading 1Q 2019 Investors Letter

Target Hospitality (TH): Leader in Vertically Integrated Specialty Accommodations

Target Hospitality is the largest vertically integrated specialty rental and hospitality services company in the United States. The company owns an extensive network of geographically relocatable rental accommodation units comprised of ~13,000 beds across 22 sites serving the country’s highest producing oil and gas basins. Most of the company’s revenues are generated under multi-year “take-or-pay” … Continue reading Target Hospitality (TH): Leader in Vertically Integrated Specialty Accommodations

Investing in Shipping Stocks: Lessons from Walter Schloss

***Below is a piece I wrote for Macro-Ops.com. For more information, check out their site here!*** He knows how to identify securities that sell at considerably less than their value to a private owner; And that’s all he does ... He owns many more stocks than I do and is far less interested in the … Continue reading Investing in Shipping Stocks: Lessons from Walter Schloss

Three Ideas in Shipping

Deep value is found at the corner of “yucky” and “no way in hell” and over the last twenty years, shipping stocks have exhibited those two characteristics a hundred times over. Alex did a great job summarizing the macro view of the shipping market in his latest article, which you can read here. To brush up, … Continue reading Three Ideas in Shipping

GrafTech (EAF): A Fallen IPO Generating Hefty FCF Through Long-Term Contracted Revenues

**Idea Source: Massif Capital** GrafTech International (EAF) is a leading manufacturer of high-quality graphite electrode products that are essential components to the production of Electric Arc Furnace steel. The company sports a vertically integrated, highly differentiated business model with supply-side advantages giving it pricing power over competitors. Reduced supply of electrodes coupled with increased demand … Continue reading GrafTech (EAF): A Fallen IPO Generating Hefty FCF Through Long-Term Contracted Revenues