Research from Superfluous Value, Superfluous Value

Superfluous Value

Research from Superfluous Value

Stock selection has rarely been as important as it is today. After a roaring decade for US markets and with signs of mania everywhere, the S&P 500 as over-priced as it has ever been.

But, there is better way. Superfluous Value is a contrarian, deep-dive into the markets forgotten by the 60/40 instos and indexing, momentum chasers. Where the hot money has long moved on, it leaves behind investments offering great safety and prospective returns.

I believe the 2020s will look diametrically opposite to the recent past, with Emerging Markets, the UK, Japan and commodities set to rip and I intend to be holding the best opportunities available as they do.

Please feel free to come along on the journey.

Contrarian Deep-Dive into the Markets

Equity Bottom-Up

<ul><li>I am quite wary of the shipping industry, due to an almost flawless tendency towards value destruction, but have been following Teekay Corp (NYSE:TK) for several months after the recent sale of its LNG division has left it with enough net cash to cover its market cap.</li><li>The group was founded by Danish shipping broker Torben Karlshoej in 1973 and has headquarters across the globe today.</li><li>The margin of safety seems generous today at a $333m market cap. </li></ul>

I am quite wary of the shipping industry, due to an almost flawless tendency towards value destruction, but have been following Teekay Corp (NYSE:TK) for several months after the recent sale of its LNG division has left it with enough net cash to cover its market cap.The group was founded by Danish shipping broker Torben Karlshoej in 1973 and has headquarters across the globe today.The margin of safety seems generous today at a $333m market cap. 

Teekay Corp: A near Net-Net, Special Situation

United States

Teekay Corporation provides international crude oil and petroleum product transportation services to major oil companies, major oil traders, and government agencies.  The Company provides its services through a fleet of medium size oil tankers worldwide.

Teekay Corp (TK US)

Teekay Corp: A near Net-Net, Special Situation

I am quite wary of the shipping industry, due to an almost flawless tendency towards value destruction, but have been following Teekay Corp...

Superfluous Value