The Stahl Report - Horizon Kinetics

The Stahl Report focuses on U.S. mid cap equities and derives investment decisions based upon a philosophy consistent with value investing. Accordingly, recommendations will typically have low valuations based on earnings, sales, book value, cash flow or some other appropriate valuation measure. However, the research process begins by identifying depressed and out-of-favor companies that possess certain “predictive attributes” such as long product lifecycles, owner-operator management teams, dormant assets, or a potential/ongoing restructuring.

Investment recommendations are published when valuations of such companies reflect a consensus view of permanent business impairment, whereas our analysis indicates the company's problems are transitory in nature with a high likelihood of financial improvement. Companies recommended for purchase often operate businesses which exclude them from inclusion in popular equity indices and therefore their stock prices have not benefitted from the influx of assets into passive investment vehicles such as exchange traded funds.  

  • > October 24, 2014
  • DreamWorks Animation SKG, Inc
  • Summary
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  • > October 1, 2013
  • Royal Caribbean Cruises Ltd.
  • Summary
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  • > May 1, 2012
  • May 2012 Stahl Report Compendium
  • Summary
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  • > November 17, 2011
  • The Walt Disney Company
  • Summary
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  • > November 1, 2011
  • November 2011 Stahl Report Compendium
  • Summary
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  • > May 10, 2011
  • D.R. Horton, Inc.
  • Summary
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  • > February 1, 2011
  • February 2011 Stahl Report Compendium
  • Summary
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  • > October 18, 2010
  • MasterCard Inc.
  • Summary
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  • > July 12, 2010
  • CarMax, Inc.
  • Summary
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  • > February 4, 2010
  • Thermo Fisher Scientific Inc.
  • Summary
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  • > September 23, 2005
  • Awaiting the Manifestation of Value
  • Summary
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  • > June 29, 2005
  • The Misapprehension Towards The Earnings Of The Defense Companies
  • Summary
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  • > June 14, 2004
  • Is Cash Flow Better Than Growth?
  • Summary
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  • > March 31, 2004
  • Investing In the Aftermath of the Energy Trading Debacle
  • Summary
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