Bear’s Den Idea Forum
The average life-to-date alpha of the ~100 short ideas presented at MYST events over the trailing 12 months is an impressive 22.2% (vs. SPX), with ~80% of the ideas generating positive returns. Their latest event saw participants produce a fascinating collection of idiosyncratic ideas with meaningful potential downside including:
Automatic Data Processing (ADP) - “Obviously mispriced” and trading at all-time highs despite facing a contracting labour market. TP $112 (55% downside).
Canadian Tire Corp (CTC/A CN) - Accounts Receivable “exploding” higher as company “stuffs the channel” to hit revenue targets. TP C$100 (35% downside).
ICU Medical (ICUI) - Misguided Smith Medical acquisition is “a bad deal at a bad time”. TP $100 (35% downside).
Edition: 150
- 09 December, 2022