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

The Bias of The Overlooked & Misunderstood: An Accountability Post

**EDIT: After posting this I realized this is my 100th post on The Market Plunger blog. Thank you to those that have been with the blog from the very beginning -- and thank you to those that have joined between then and now.** This blog's purpose is to hold me accountable. Whether in my valuation, … Continue reading The Bias of The Overlooked & Misunderstood: An Accountability Post

Criteo, Inc (CRTO): Privacy Regulations Turns Into Forced Selling & Opportunity

*Idea Source: Steven Wood, Greenwood Investors Massive selling from new ITP Regulations set forth by Apple and European departments have caused share prices of the digital performance advertising company to fall to 4x EV/EBITDA -- well below industry averages. With almost all of the negative news surrounding the new privacy laws baked into the price, … Continue reading Criteo, Inc (CRTO): Privacy Regulations Turns Into Forced Selling & Opportunity

Another Boring Business: Construction Partners, Inc. (ROAD)

I’ve probably said this sentence too many times, but it's worth repeating: Boring businesses can be fertile places to find great investments. What makes boring businesses so exciting? They never go away no matter the economic condition. This doesn’t mean that share prices of these businesses won’t falter if an entire economy declines; but it … Continue reading Another Boring Business: Construction Partners, Inc. (ROAD)

2018 Annual Investors Letter

  1Q 2018 2Q 2018 3Q 2018 4Q 2018 YTD Rockvue Capital 6.70% 0.40% 2.66% -7.56% 2.20% S&P 500 -1.22% 2.93% 7.20% -13.77% -4.86% Russell 2000 -2.05% 7.43% 3.26% -19.39% -10.75% RC vs. S&P 7.92% -2.53% -4.54% 6.21% 7.06% RC vs. Russell 8.75% -7.03% -0.60% 11.83% 12.95%   Dear Readers, The Inaugural year is in … Continue reading 2018 Annual Investors Letter