President, Vision Research

Robert C Prather Jr

Vision Research LLC (founded in 2011) is an independent equity research firm using fundamental analysis to help investors avoid risk & profit from structurally challenged equities. The research is focused on US & European equities. Primary sectors include consumer, TMT and industrials.  Team background includes 3 CFA Charter holders, 2 Certified Public Accountants, global L/S experience, TMT credit experience, management consulting, software engineer, and long biased international equities.

President

China Feihe IPO Preview: Goat Bless Infant Formula Milk?

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China Youran Dairy(悠然牧业) Pre-IPO - A Leader Pulling Ahead in a Fragmented Market

Vision Research

Vision Research was formed in 2004 with the vision of generating the best possible fundamental analysis and investment research for smid cap US equities. In 2008, we broadened our coverage to include mid/large cap US stocks.  After researching a  few ideas outside the US each year for a number of years, we launched a dedicated non-US equity product at the end of 2015.  This was followed by the introduction of a product focused on IPOs in mid-2017.

Fundamental Insight

Equity Bottom-Up

<p>We issued a short recommendation on BN FP over 12 months ago when the stock was at 71 euros.  We closed the short when the stock was below 53 euros.  We should have stayed short longer as the stock ended up trading below 47 euros.  It has since rallied 24% over the past 4 months to almost 58 euros and is at the upper band on the RSI chart.  Some believe a turnaround story is in the works, but many of the issues we previously highlighted still exist.  The question is, at what price should you buy or short the turnaround?</p>

We issued a short recommendation on BN FP over 12 months ago when the stock was at 71 euros.  We closed the short when the stock was below 53 euros.  We should have stayed short longer as the stock ended up trading below 47 euros.  It has since rallied 24% over the past 4 months to almost 58 euros and is at the upper band on the RSI chart.  Some believe a turnaround story is in the works, but many of the issues we previously highlighted still exist.  The question is, at what price should you buy or short the turnaround?

Danone SA (BN FP): Is This A Turnaround Story Or Could Another Short Opportunity Be On The Horizon?