The Devil’s Advocate Report produces short‐sale recommendations on highly visible, large capitalization stocks, as well as unique short‐sale and “spread trade” recommendations in exchange traded funds, options and other instruments.

As companies progress from high growth businesses to stable, mature companies, valuations often remain high and become illogical. Such circumstances are frequently explored in The Devil’s Advocate Report. Recommendations are often accompanied by option strategies to reduce or eliminate downside risk.

The rapid growth in exchange traded funds has provided investors with the ability to efficiently gain exposure to specific groups of securities that share common characteristics across the equity and fixed‐income spectrum. The Devil’s Advocate Report will utilize exchange-traded funds to exploit pricing anomalies between various groups of securities.

The Devil’s Advocate Report Compendium, published on a monthly basis, provides an effective forum for Murray Stahl to discuss additional short-sale recommendations and inefficiencies in the space not ordinarily addressed by Wall Street research. Murray also discusses specific industries and concepts he believes are central to the investment environment.  These situations will be revisited in the Compendium, with the most compelling situations expounded upon in full length research reports.