Grahamian Value Week in Review ― April 23, 2021
Grahamian Value Week in Review ― April 23, 2021
“Begin at the beginning”, the King said gravely, “and go on till you come to the end: then stop.”
— Lewis Carroll, Alice in Wonderland
PART ONE.
WEEK IN REVIEW
PART TWO.
WE’RE TAKING A PAUSE
In the past week —
There have been no changes to our Grahamian Value Classic list.
I. WEEK IN REVIEW
This marks our twenty-eighth consecutive week with no new additions to the Grahamian Value Classic list of companies.
II. WE’RE TAKING A PAUSE —
Two hundred eighty-seven days into this journey, we’ve hit our stride.
We’ve crafted thirty-two weekly digests, explored eighteen points of interest along the way, and showcased nine insights from respected thought leaders, in written and audio formats. Our audience base is compounding on a daily basis.
There is no better time than now for us to focus on the next phase of Grahamian Value, in which we strive to provide (meaningfully) greater value for a more concentrated circle of people.
Pursuant to this broader ambition, we are announcing a strategic pause of this weekly digest — with renewed activity in late 2021.
In the alphabetical list below, we summarize the twelve Grahamian Value Classic names covered in this first phase of the Grahamian Value project —
Dawson Geophysical Co. (September 18, 2020)
Friedman Industries Inc. (December 11, 2020)
Gulf Island Fabrication, Inc. (October 23, 2020)
Hudson Global Inc. (October 9, 2020)
Mammoth Energy Services Inc. (September 18, 2020)
NCS Multistage Holdings Inc. (November 6, 2020)
Newpark Resources Inc. (October 9, 2020)
NOW Inc. (October 2, 2020)
P&F Industries, Inc. (November 13, 2020)
Rubicon Technology, Inc. (September 18, 2020)
Servotronics, Inc. (September 25, 2020)
Universal Stainless & Alloy Products Inc. (October 23, 2020)
We’re excited by the road ahead and look forward (in late 2021) to sharing with you the full details of our next phase. Thank you for joining us in this first phase of Grahamian Value.
We continue to cherish your time, your trust and your readership — and we look forward to our eventual return.
Wishing you and your loved ones a springtime (and upcoming summer) with a healthy mix of productivity and adventure.
Respectfully,
Harry Sauers and Shai Dardashti, co-editors
IN THE INTERIM —
Harry Sauers will be joining Gate City Capital Management as a summer analyst, and will be stepping back from Grahamian Value for the duration. He may be reached on LinkedIn.
Shai Dardashti continues to direct investments for a private family.
EXCERPT FROM OUR 2020 ANNUAL LETTER:
Before further delving into details, let’s “start with why” —
Individual Exercise. In launching Grahamian Value, we set out to compound our situational awareness and operating efficiency by a few basis points every 24 hours with deliberate practice, sustained over a (very) prolonged window. Within this framework, this weekly electronic digest and our flagship website are natural by-products of our root objective.
A Shared Vision. Three categories of friendship exist. First, is a “friend for a purpose” — a utilitarian association dependent on reciprocal usefulness; when the usefulness disappears, the bond dissolves. Second, is a “friend for worrying” — a peer with whom to share sorrows, troubles and joys; joys when shared are multiplied while sorrows and troubles when shared are divided. Third, is a “friend for an ideal” — a shared dedication to common goals, with a readiness to sacrifice to attain these shared ideals. Within this prism, Grahamian Value is a collaboration that (deliberately) bonds the co-editors in a friendship of shared ideals for which the journey is the destination.
A Global Think Tank. We embarked on this adventure with a viewpoint that the more we give, the more we’d get. This has proven true, in spades; the inbound (private) feedback we regularly receive is priceless, both literally and figuratively.
ABOUT GRAHAMIAN VALUE
Founded in 2020, Grahamian Value is a labor of love centered around our desire to openly share data and perspectives that we find helpful in our pursuit of Benjamin Graham-inspired investment ideas.
The co-editors of Grahamian Value, as of the date of this communication, may individually own shares of companies mentioned herein. The publishers do not receive compensation from the companies and people covered in Grahamian Value for such coverage. This communication is for informational purposes only. This is not intended to be investment advice. Seek a duly licensed professional for investment advice.