Monday, August 28, 2017

2Q17 Investor Letter

Long Cast Advisers posted its 2Q17 Investor Letter yesterday. "2Q17 was our sixth quarter in business. Cumulative returns on accounts managed by Long Cast Advisers increased 2% in 2Q17, net of applicable fees. Since inception, we have returned a cumulative 45% net of fees, materially ahead of our benchmarks."

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3 comments:

  1. What are your thoughts on Envirostar after the 4x runup in the past year. They've executed well on their buy and build strategy with 2 acquisitions in the last year, but at what point will you say its too expensive?

    I thought it was too expensive at $20/share, so it appears expensive now at $36. But if they can continue to use their expensive stock to acquire companies, it won't appear expensive in hindsight. What do you think is the catch in this strategy?

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  2. Correction: so it appears expensive now at $33 (not $36)

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  3. A short report just came out on EVI. Was curious, if you had any thoughts.
    http://www.sprucepointcap.com/research/

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