INSTITUTIONAL RESEARCH

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REPLAY | Home Improvement Shorts & Updated Scenario Analysis Black Book Learn More
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Home Improvement Deep Dive. Updated Housing Market Scenario Analysis. Home Improvement Sales Numbers Need To Come Down, And Take EPS With Them. Calls on HD, LOW, FND, TCS.

4Q 2023 Industrials Themes | Coming Margin Certainty Amid Geopolitical Uncertainty Learn More
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Strikes, wars overseas, and domestic political challenges add uncertainty and friction for a manufacturing sector that is, actually, still reporting century long highs in margins.

Financials Quad Playbook Learn More
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The Financials Quad Playbook features the full Financials GICS Level 1-4 library as well as expanded conditioning sets together with our own custom financial subsector and industry groupings.

Deck & Replay | On the House: Housing's Current & Future State With Ed Pinto of AEI Learn More
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The frank and far-ranging discussion covered the key topics impacting the current and future state of the U.S. Housing market.

KNX, FDX, ODFL, SNDR, UNP, NSC | Is Freight Picking Up Or Recession Bound? Learn More
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We discuss what’s next for the trucking & freight industries, the impact of the UAW strikes, potential government shutdown, border disruptions, and more.

CALL REPLAY | SB & iC & DKNG – IT’S GOOD TO BE KING Learn More
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The tenets of our positive DKNG and OSB/iC thesis have largely played out in 2023. We turned bullish in the fall of last year and DKNG and the stocks have performed well, but is the run over?

Turo IPO | Pandemic Winner Stalled Or Durable Disrupting Franchise? | UBER, CAR, HTZ Learn More
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Is Turo capable of extracting enormous inefficiencies in automobile ownership within a platform with network effects and adequate scale? Where should Turo be valued in various viable scenarios?

REPLAY | FL | Best Idea Long Black Book Learn More
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FL Deep Dive. Sentiment is at All Time Low and Nike is Likely to Come Back in Size.

XYL, PNR, MWA, FLS, ERII | Is It Safe To Drink From A Short & Distort Pond? Learn More
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The short report on Xylem is a key driver for this black book. It has driven the stock down, presenting an opportunity, we think, to start to engage in the space

Call Replay | Canadian Housing & Banks - If Not Now, Then When? Learn More
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Aided by cheap and abundant financing, robust immigration flows, foreign capital flight, and inventory constraints, Canadian housing has been a consistent widow-maker for anyone trying to bet against its momentum over the yea

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