The Devil's Advocate - Horizon Kinetics

Since inception in 1999, The Devil's Advocate Report has sought to identify short sale ideas through the exploration of structural themes and wide-spread investor misperception. The “logical absurdities” that had characterized the investing environment in the later years of the Internet Bubble provided fertile ground for the launch of The Devil's Advocate Report. Although the current investing climate may not be characterized by triple-digit earnings multiples on unprofitable companies, equally compelling valuation discrepancies and profound structural changes in equity markets are presenting an abundance of opportunities for the short seller. Each publication of the Devil's Advocate Compendium provides regular commentary from Murray Stahl regarding industry-specific and market wide themes that are driving our short sale recommendations, as well as three to five short sale ideas. Many of these short sale ideas will be expounded upon into full length (15 to 25 page) research reports.

  • > July 31, 2015
  • Fitbit Inc.
  • Summary
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  • > July 31, 2011
  • Advanced Micro Devices, Inc.
  • Summary
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  • > May 3, 2010
  • Research In Motion
  • Summary
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  • > April 7, 2010
  • April 2010 Devil's Advocate Compendium
  • Summary
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  • > May 3, 2002
  • Studies in Absurdity
    REFLECTIONS ON ELECTRONIC ARTS, INC.
  • Summary
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  • > March 18, 2001
  • A Profound Question:
    Will Technology Companies Be Restored To Their Former Luster?
  • Summary
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