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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.
Recurve Capital underperformed significantly in the first half of 2026, down 14.9% net versus the S&P 500's 9.6% gain, driven primarily by Carvana's 22% decline which accounted for 80% of the fund's negative performance. Despite this underperformance,...
— Aaron Chan
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Other investors who've written on Carvana
Carvana is an online used car retailer that enables customers to buy, sell, and finance vehicles through a fully digital platform. The stock sold...
Carvana possesses a structurally superior business model characterized by higher gross margins compared to traditional peers. Its ultimate success...
Carvana finished the year with another strong quarter.