J Capital Research

Independent Insight Provider

J Capital Research, a U.S. company, publishes highly diligenced research reports on publicly traded companies, relying on deep, on-the-ground primary research. J Capital has particular expertise in the Chinese market, but we look at over-valued companies throughout the world. As an activist short- and long-research shop, when we form a clear view, we publish free, public reports to inform the investing public and never disguise our identity. We believe the internet has afforded an opportunity to small, unaffiliated investors to leapfrog the big banks, with their conflicts of interest, and obtain unbiased information on traded companies. We pride ourselves on our independence and the quality of our work. We hope the work speaks for itself.

Equity Bottom-Up

MSC Industrial Direct Co Inc / Equity Bottom-Up

<ul><li>We see trouble ahead for MSM, a lumbering distributor of metalworking and maintenance, repair and operations products and services.</li><li>The company has lost market share to competitors, which have increased revenue, margins, and operating cash flow over a decade, while the same measures at MSM have stagnated.</li><li>This sector, like most, has winners and losers. The evidence shows MSM has not been a winner.</li></ul>

We see trouble ahead for MSM, a lumbering distributor of metalworking and maintenance, repair and operations products and services.The company has lost market share to competitors, which have increased revenue, margins, and operating cash flow over a decade, while the same measures at MSM have stagnated.This sector, like most, has winners and losers. The evidence shows MSM has not been a winner.

MSC Industrial Direct (MSM): Weakest of the Pack