Log In

In the Office Furniture Market the Second Derivative Is Improving, but Maybe Not Quickly Enough – Closing Out Our...

March 14th, 2010

In July of 2009 we introduced a pair trade: Long MLHR/Short HNI.  Our thesis at that time was predicated on the following: MLHR is a superior company to HNI based on almost every financial...

READ MORE >

The State of the Office Furniture Market – Still Recommending Long MLHR/Short HNI

March 10th, 2010

This report was originally published on 9/10/09.In our original report on the office furniture market entitled: “Generating Returns in an Industry in a Deep Freeze” we advocated going long Herman Miller (MLHR 20.04...

READ MORE >

Our Long MLHR/Short HNI Has Gone From a Catalyst Driven Trade to a Relative Value Trade, but We Still Like it

March 10th, 2010

This report was originally published on 7/26/09.Our pair trade recommendation to go long Herman Miller Inc. and Short HNI Corporation got off to a bumpy start. The trade has returned -6.4% compared to a 4.1%...

READ MORE >

Generating Returns in an Industry in a Deep Freeze – Long Herman Miller Inc. (MLHR)/Short HNI Corporation (HNI)

March 9th, 2010

This report was originally published 7/20/09.Investment Thesis Overview:In the debate over “green shoots” we have directed our attention in large part to the state of the housing market as an indicator...

READ MORE >

Current Ideas

CTC

SHORT

$101

ATGE

SHORT

$15

AYI

SHORT

$108

HCG.TO

SHORT

$0

RON.TO

SHORT

$9

BIG

SHORT

$28

ESI

SHORT

$0

BGG

PAIR - LONG BGG/SHORT TTC

25%

TTC

PAIR - LONG BGG/SHORT TTC

25%

Z

SHORT

$14.00

NA.TO

SHORT

$22

ING.PA

SHORT

$35

ZU

SHORT

$15

TRLA

SHORT

$20

MCRS

SHORT

$31

APOL

SHORT

$35

OPEN

SHORT

$30

BCO

LONG

$35

WWE

LONG

$25

KNL

PAIR - LONG KNL/SHORT MLHR

25%

XOXO

LONG

$20

CSGP

SHORT

$100

GCA

LONG

$8

IPSU

LONG

$20

MLHR

SHORT

$22

ARC

LONG

$12.50

LOOP

PAIR - LONG CSGP/SHORT LOOP

40%

THQI

LONG

$35

WPO

SHORT

$275

COCO

SHORT

$0

HNI

SIG

RGR