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Equity Research Database
Institutional Investment Pitches
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
Explore thousands of hedge fund pitches, high-conviction equity research memos, and portfolio manager commentary extracted from quarterly letters.
In 2025, the GreensKeeper Value Fund achieved a net return of +0.4%, which was heavily impacted by a -4.3% drag from a weakening U.S. dollar and a major stock pick failure in Fiserv (-67.3%), which suffered from growth accounting illusions. The fund lagged...
— Michael P. McCloskey
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Other investors who've written on Lululemon Athletica Inc.
The fund completely exited Lululemon due to mounting challenges in its US operations, inventory errors, and activist pressure from the founder distracting management. While the stock...
In September 2025, I published Investment Case: Lululemon Athletica Inc., calling the stock compelling value at $162 per share. The thesis rested...