Selected Quarterly & Annual Newsletters from Funds, Fund Newsletters

Fund Newsletters

Selected Quarterly & Annual Newsletters from Funds

Thematic (Sector/Industry)

<ul>
<li>Merion Road Capital Management LLC is a registered investment adviser. We focus on value-oriented investing through rigorous fundamental analysis of a company's operations.</li>
<li>Q3 2022 was a disappointing quarter.</li>
<li>We should extend our investment horizon exactly when others shorten theirs.</li>
</ul>


Merion Road Capital Management LLC is a registered investment adviser. We focus on value-oriented investing through rigorous fundamental analysis of a company's operations.
Q3 2022 was a disappointing quarter.
We should extend our investment horizon exactly when others shorten theirs.


Merion Road Capital Q3 2022 Investor Letter

SPAC Deep Dive, subSPAC

subSPAC

SPAC Deep Dive

Each week we’ll identify and break down for you SPACs that are capturing market share and making an impact.

Equity Bottom-Up

<ul><li>Pandemic darling Peloton saw a meteoric rise and fall over the past two years.</li><li>The company initially benefited from soaring demand, but overestimated demand and eventually leading to a fire sale and massive layoffs.</li><li>German sports e-commerce retailer Signa Sports United, which went public through a SPAC deal last year, could face a similar fate in the coming months.</li></ul>

Pandemic darling Peloton saw a meteoric rise and fall over the past two years.The company initially benefited from soaring demand, but overestimated demand and eventually leading to a fire sale and massive layoffs.German sports e-commerce retailer Signa Sports United, which went public through a SPAC deal last year, could face a similar fate in the coming months.

Independent Research, US Dominant Players, Investment Talk

Investment Talk

Independent Research, US Dominant Players

Investment Talk is for readers who wish to learn about companies that are potentially outside of their own circle of research, as well as those who are longing to become part of a community of like-minded investors and learn more about investment research. I would describe myself as a long-term investor who typically takes a 3Y to 5Y outlook, before reassessing once that period matures. I follow the adage that one should research, reach a conclusion, and then verify and continue to hold so long as the thesis remains intact. My own investing style is one that seeks to find dominant players within their respective market who have shown signs of monopoly or oligopolistic behaviour, unlikely to be disrupted, in tandem with discovering market disruptors who have a high likelihood of disrupting their respective market. Equally (and weighted accordingly) I seek to discover more nuanced, misunderstood, situations with a shorter time frame.

<ul><li>As I perused the headlines yesterday, I came across a CNBC article that suggested Peloton would be hiring McKinsey to “review its cost structure and potentially eliminate some jobs”. </li><li>Whilst Foley is not likely to be sleeping with fishes anytime soon, the CNBC report suggests that 12% of Peloton’s physical store count might be on the chopping board</li><li>Whilst I still continue to believe Peloton will have success in their market over the longer term, this does not equate to attractive shareholder returns</li></ul>

As I perused the headlines yesterday, I came across a CNBC article that suggested Peloton would be hiring McKinsey to “review its cost structure and potentially eliminate some jobs”. Whilst Foley is not likely to be sleeping with fishes anytime soon, the CNBC report suggests that 12% of Peloton’s physical store count might be on the chopping boardWhilst I still continue to believe Peloton will have success in their market over the longer term, this does not equate to attractive shareholder returns

Latest News from the World’s Leading Innovators

Granite Bay Capital

An innovation focussed investment company

Granite Bay Capital is an innovation focussed investment company with a deep focus on the companies at the leading edge of innovation across major themes such as AI, ubiquitous computing, sustainability, automation and longevity.

<h2><strong>Headline Developments</strong></h2><p>Steam, the video game distribution platform owned by Valve (private) , has released the long-rumoured handheld gaming device the Steam Deck; available from December (although big delays are expected with the premium $649 512GB version not available until 3Q22!).</p>

Headline DevelopmentsSteam, the video game distribution platform owned by Valve (private) , has released the long-rumoured handheld gaming device the Steam Deck; available from December (although big delays are expected with the premium $649 512GB version not available until 3Q22!).

<p>Headline Developments The battle is on between Fortnite developer Epic Games (private) and Apple (AAPL) - a David and Goliath case which, in a nutshell, will ask whether Apple is acting fairly by charging developers a 15-30% fee for all revenues made via subscriptions and in-app purchases.</p>

Headline Developments The battle is on between Fortnite developer Epic Games (private) and Apple (AAPL) - a David and Goliath case which, in a nutshell, will ask whether Apple is acting fairly by charging developers a 15-30% fee for all revenues made via subscriptions and in-app purchases.

United States

Peloton Interactive, Inc. provides sporting apparels and products. The Company offers tops, bras, bottoms, watch bands, hats, bags, and workout bikes for indoor cycling products. Peloton Interactive serves customers worldwide.

Peloton Interactive (PTON US)

Merion Road Capital Q3 2022 Investor Letter

Merion Road Capital Management LLC is a registered investment adviser. We focus on value-oriented investing through rigorous fundamental analysis...

Fund Newsletters

Will This De-SPAC Be The Next Peloton?

The company initially benefited from soaring demand, but overestimated demand and eventually leading to a fire sale and massive layoffs.

subSPAC

Peloton and the Kiss(es) of Death

As I perused the headlines yesterday, I came across a CNBC article that suggested Peloton would be hiring McKinsey to...

Investment Talk

Weekly Innovation Review (WIRE) #41

Headline Developments: Steam , the video game distribution platform owned by Valve (private), has released the long-rumoured handheld gaming device...

Granite Bay Capital

Weekly Innovation Review (WIRE) #30

Headline Developments The battle is on between Fortnite developer Epic Games (private) and Apple (AAPL) - a David and Goliath case which, in a...

Granite Bay Capital