Attached is our first quarter 2015 newsletter, which covers two broad topics as follows:
First, we provide a primer on “melting ice cube” investments, using Western Union (WU) and Outerwall (OUTR) as examples. We then provide an update on Weight Watchers (WTW) and explain why we believe it is not a melting ice cube.
Second, we discuss the merits of investments with hidden gems within larger companies, using Hartford Group (HIG), Oshkosh (OSK), and Vocus (acquired) as examples. We then delve into a new investment idea, EnerNOC (ENOC), which we believe represents this type of investment.Download Newsletter