Our Long Idea reports aim to identify firms that, despite market fears, unimpressive GAAP earnings, and other noise, have profitable businesses and highly undervalued stock prices.
All of our reports aim to show investors how to use our research and display the transparency of our analytical process. However, we understand that at the end of the day, investors care about one thing: performance. It matters very little what we think about our analysis if the market disagrees.
2018 was not a good year for our Long Ideas. Just 18 out of 50 Long Ideas outperformed the market. The average performance of our picks was -13% compared to -7% for the S&P 500.
Just as we did with our Danger Zone picks, we’re going to examine some of our worst-performing calls from 2018 and determine which picks were bona fide mistakes and which only offer more upside.
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