Peek into our short idea generation process.
This report went out to clients last week. Suspicious Overearners: This model seeks companies that are potentially “over-earning”, defined as companies with unusually high margins relative to
Our Short Process
Attached is an updated “short” presentation on our investment process. Click here to download: TRA Process & Bio 20210810
Shorts rising in REITs, E&Ps, Semis, Aerospace, Restaurants
This report shows: • spikes and drops in short interest by industry; • notable stocks showing spikes in short interest; and • short squeeze candidates
Short squeeze candidates + Short investor movements
We are introducing our improved short squeeze screen. The idea behind it is simple: * Heavily shorted stocks, * where short exposure has increased meaningfully
Suspicious Overearners
This screen finds companies that are potentially “overearning”. We define this as companies with unusually high gross margins relative to their own history and an
New shorts in Health Tech, Energy and Transports
The market value of short interest increased by 7.0% ($44.0) billion over the past 30 days. Net new active shorting increased by $8.5 bn. The strongest
Memory Lane: “Buy Enron” report
Students of stock market history will want to keep a copy of this report on hand. Might serve as a warning of what happens during
Short covering in Tech, Tech Services & Consumer Services
Short investors continue to suffer. High SISO names are not only rising, but outperforming the broader market. This is the stuff of “risk-on” cycles in
Short Investors piling into Financials & Retail; Covering bets in Health Tech & Tech Services
The market value of short interest increased by 2.9% ($18.6) billion over the past 30 days. Net new active shorting increased by $12.7 bn. The
Two Rivers speaks at FactSet’s Investment Symposium
FactSet put on a great program in Washington, DC earlier this week. The keynote speakers were ex-Fed Chair Ben Bernanke and Colin Powell. Two River’s Eric
Short investors moving into Health Tech, Energy and Communications
Total short market value increased over the past 30 days rising 3.8%. Yet net new active shorting decreased $9.1bn. The largest increases were made in
New active shorting declined but spikes seen in retail, consumer non-durables and utilities
Total short market value increased 5.9% ($35.5bn) over the past 30 days. Net new active shorting declined $8.1bn as the snapback rally of late October
Subprime Auto Finance. A bubble inflating.
See our co-authored post on Seeking Alpha: Auto Finance: Another Subprime Bubble?
Ferrari or VW Bug? Same price, you pick.
Valuations are converging: What are the implications? Investors are not differentiating enough between companies. Value indifference creates opportunity for active managers. Market declines will be
Alpha generated on short recommendations, update
We track performance for two sets of stock recommendations: 1) stocks from Company Reports and 2) stock warnings from Stock at Risk updates. The weekly
Kate Spade: Trees don’t grow to the sky
Kate Spade’s (KATE) stock closed down hard after rising 10% this morning on a strong earnings report. What changed in a few short hours? The
A new day for short investors?
“Five Years of Futility Breaking for Bears as Shorts Drop” – Bloomberg. The article describes a positive turn for short investing. “You were seeing the winners
Stop using stops!
This topic draws passionate opinions from seasoned investors on both sides of the argument. We have encountered short investors who cut losses if a stock
It pays to follow the short sellers
It pays to follow what short sellers are doing. Notwithstanding concerns about high short interest and short squeezes, backtesting has shown that stocks with the
What Ails The Shorts?
Oct 15, 2013. The shorts are clearly getting hurt. High days to cover stocks are outperforming – meaning losing money on an absolute and relative
Integrity Research features Two Rivers Analytics
Independent Short Selling Ideas New York – Short sellers have populated the news recently. The latest developments have been around Chinese firms such as Sino-Forest and Focus
Integrity Research features Two Rivers Analytics
Independent Short Selling Ideas New York – Short sellers have populated the news recently. The latest developments have been around Chinese firms such as Sino-Forest and Focus
What Ails The Shorts?
Oct 15, 2013. The shorts are clearly getting hurt. High days to cover stocks are outperforming – meaning losing money on an absolute and relative
It pays to follow the short sellers
It pays to follow what short sellers are doing. Notwithstanding concerns about high short interest and short squeezes, backtesting has shown that stocks with the
Stop using stops!
This topic draws passionate opinions from seasoned investors on both sides of the argument. We have encountered short investors who cut losses if a stock
A new day for short investors?
“Five Years of Futility Breaking for Bears as Shorts Drop” – Bloomberg. The article describes a positive turn for short investing. “You were seeing the winners
Kate Spade: Trees don’t grow to the sky
Kate Spade’s (KATE) stock closed down hard after rising 10% this morning on a strong earnings report. What changed in a few short hours? The
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Peek into our short idea generation process.
Our Short Process
Short squeeze candidates + Short investor movements
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