“Our customers have shown tremendous courage and we’re matching that by sticking with them to the best of our best ability. We believe that working with customers to help get them to a...
READ MORE >Approximately 18-months ago, we published a report entitled: “Is Zillow’s ARPA Growth Miracle Over? The Demise of the “MSA” in the Mortgage Channel Suggests It Could Be, Reducing Estimates”. In...
READ MORE >“There is always a heavy demand for fresh mediocrity. In every generation the least cultivated taste has the largest appetite.” Paul Gauguin Following another 90-minute conference call in which...
READ MORE >In many ways the investment case for or against Zillow increasingly can be distilled to one single question: Does the company’s current cost structure reflect investments for growth or simply...
READ MORE >It’s been an interesting start to 2017 for HCG. The stock is down a meager (-5.0%) YTD, which belies the drastic change in investor sentiment around the company. Several major brokerage firms have downgraded HCG shares over the past 4-6...
READ MORE >“Let's begin What where why or when Will all be explained Why destruction is a game See I'm not insane In fact I'm kind of rational….” Boogie Down...
READ MORE >“All I do is separate the game from the truth” Wallace, Christopher. “One More Chance”. Ready To Die. Bad Boy, 1994. We think the quote above perfectly...
READ MORE >When we first introduced AYI as a short idea approximately 9-months ago, the largest pushback on the merits of our investment thesis related to the perceived quality of the company’s management team. ...
READ MORE >We recently completed a survey of lighting agents across the country. The feedback from our survey confirms our view that: Revenue growth in the lighting industry has started to slow Pricing pressure on LED products...
READ MORE >“I've got depth of perception in my text y'all I get props at my mention 'cause I vex y'all So what'cha...
READ MORE >“It's just that I've never seen people celebrate mediocrity the way you do.” Jack Byrnes (Robert DeNiro). Meet the Fockers. Dir. Jay Roach. Universal Studios 2004. For...
READ MORE >“As cooler weather starts driving up heating costs, Calgary distress centres are finding more people who once earned steady incomes are now struggling to pay their bills and seeking relief with...
READ MORE >We recently conducted a survey of 148 mortgage brokers located across Canada. The key findings from our survey include: Home price weaknes is becoming more broad based The underlying bid for housing remains...
READ MORE >Zillow management did it again. The company guided down for the forward quarter and “talked down” margin expectations for the out year. This has become a tried and true practice for...
READ MORE >“….but I do want to remind everybody that CoStar has shown again and again and again that we are able to reduce costs after an investment initiative. We are very good at that and we need credit for that.” Andy...
READ MORE >Yes, it’s true that AYI does not provide earnings guidance for investors, but the manner in which the company handled its latest earnings release has to be viewed as troubling. AYI missed by a wide margin on both the top...
READ MORE >Will Monday, October 3, 2016 be remembered as the day that the housing market in Ontario peaked? Maybe. In a move that appears to have shaken the Canadian housing market to its core (or at least rattled a few branches), Minister of Finance, Bill Morneau announced a...
READ MORE >SELL/SHORT
$4
SELL
$50
SELL/SHORT
$45
SHORT
$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
LONG
$128
SELL/SHORT
$50
SELL/SHORT
$50
LONG
$5.50
SHORT
$50
SHORT
$28
LONG
$65
LONG
$37
PAIR TRADE
$10
PAIR TRADE
$30
LONG
$35
SHORT
$35
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$9
SHORT
$0
PAIR - LONG BGG/SHORT TTC
25%
PAIR - LONG BGG/SHORT TTC
25%
SHORT
$14.00
SHORT
$22
SHORT
$15
SHORT
$20
SHORT
$31
SHORT
$35
SHORT
$30
PAIR - LONG KNL/SHORT MLHR
25%
SHORT
$100
LONG
$8
LONG
$20
SHORT
$22
PAIR - LONG CSGP/SHORT LOOP
40%
LONG
$35
SHORT
$275
SHORT
$0