The Contrarian Research Report, authored by Murray Stahl, employs a value-oriented, event-driven investment strategy that seeks to capitalize on the most inefficient and attractive investment opportunities in the small cap equity arena. Murray uses a time-intensive, investigative style of research to uncover behind the scenes, proprietary information about each company. Investment recommendations focus on companies with significant barriers to entry that have the ability to generate a high and sustainable return on invested capital. While the vast majority of such companies trade at or near fair value, opportunities present themselves when transitory events temporarily depress share prices. These situations are the primary focus of the research process.

The Global Contrarian Report identifies undervalued companies primarily in Western Europe and Asia that have minimal to zero exposure to U.S. economic cycles. These companies meet the proven investment criteria of high and sustainable returns on invested capital that enable them to act as compounding investment vehicles. THe service focuses on companies with under-valued or undiscovered natural resources; operating in monopoly, oligopoly or consolidating industries; often with substantial exposure to emerging economies.

The Global Spin-Off Report identifies and analyzes all spin-offs outside the United States. Coverage of each spin-off begins upon announcement, and continues through the first quarter of trading. A monthly Global Spin-Off Calendar monitors the status of every pending transaction, and "Flash" reports are published to update clients on critical spin-off dates, share distribution ratios, finalized capital structure and other critical information. A comprehensive analysis of each spin-off is published before share redistribution occurs, providing fair value estimates for the parent company and spin-off. Another feature of the service, The Global Spin-Off Report Compendium, provides an effective forum for Murray Stahl to discuss a range of compelling divestitures in foreign markets.

The Spin-Off Report, authored by Murray Stahl, Steve Ferazani and Michael Wolleben, monitors the progress of all U.S. spin-offs from announcement date through when-issued trading, and continues coverage through the first quarter of trading. The service provides comprehensive research reports with fair value estimates on both subsidiaries and parent companies prior to divestiture. The Spin-Off Radar Screen, published monthly, provides an overview of companies believes to be potential spin-off candidates. In addition, clients receive the Bits & Pieces report; a monthly supplement to the service that identifies mispriced stub securities, tracking stocks and other arbitrage opportunities. The Spin-Off Report Compendium provides Murray Stahl with an effective forum to discuss the market environment for spin-offs, as well as investment ideas outside the traditional spin-off space, such as carve-outs and tracking stocks. Murray will also discuss spin-offs that have fallen out of favor with investors.

The Devil’s Advocate Report produces short-sale recommendations on highly visible, large capitalization stocks. The author, Murray Stahl, believes that we've entered a period in which disruptive technologies will cause a severe shortening of product lifecycles, resulting in compressed margins and dramatic declines in growth rates. After several years of multiple expansion, many companies trade at valuations resembling the logical absurdities that were so prevalent ten years ago - valuations that don't reflect the onset of a painful transitional period. Wall Street's earnings estimates for many of these companies are far too optimistic and don't properly reflect these risks. As the inability of these companies to meet these aggressive forecasts becomes apparent, many stocks will experience large adverse reactions. The Devil's Advocate Report focuses on the identification of these companies.