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Go back to Stefan Grossman -- fund management CEO portfolio manager.
Back at the company's long short equity fund is what he runs over thesis let's get your first one and this is in the long category -- So -- is -- is the dominant Spanish and Portuguese media company globally.
And unfortunately it's trading at a valuation that's reflective of the -- of Spain where it's based.
So that exposure Spain Portugal and South America -- -- this chart shows yeah I think exactly.
So these are the types of charts frankly the -- -- buying we're looking for things that have been discarded left behind.
Has a collection of incredible assets broadcast media print media as well as for profit education.
And you have a business that's a real business with thoughtful management that's been executing brilliantly through a very tough operating.
So looking at an unloved name that is just going through a tough time that is a real -- that's our special OK another one.
You kind of indicated that you like the auto companies like GM and Fiat but not so much the auto parts yet you like Pep Boys why.
Sure so we'll -- acquisition company it's a name that a lot of people know because it's -- familiar company in the United States.
And it's a business that is a real business but.
What's hidden is the real estate assets.
And today the company's trading below the value of its real estate because they own the property and under which -- exactly they have a lot of their real estate exactly a lot of their stores and one night.
Moreover it's instinct because at the same time given what we talked about earlier in the show where we have a pension right now for the auto manufacturers.
-- we are actually not particularly inclined to own most companies.
That have exposure -- auto parts so if you take a look at our shorts and the types of names who were short today.
We're short companies.
Better in the auto parts space broadly speaking.
For the same reason we like GM and Fiat it's -- corollary to that so as new cars come on line and you replace the existing domestic fleet.
Fewer repairs are needed of new cars come.
-- -- because it was a big story on Friday that there was word that Advance Auto Parts and hired a private equity outfit to meet you look to see it.
Taken private at Advance Auto Parts -- AP.
A very smartly run company or their by Darren Jackson is that at a same situation -- do it yourself for storefronts in the auto industry.
But you wouldn't pick that one for the real estate either.
So it's adjusting so Pep Boys benefits from the same dynamic that AP.
Has that brought attention from private equity.
So like AP Pep Boys has real estate -- OK now let's discuss the short -- give me your favorite short name right now.
So instead talking with specific names talked about fanatic shorts so there's a few places as I mentioned -- a minute ago we like names from a short perspective.
We like names that have exposure and auto parts -- Largely because this dynamic of a new fleet coming on line and less of the need less demand.
For auto parts.
Moreover we also think that there's been crowding into names that are dividend players.
So names are typically cyclical and economically sensitive that'd been bid up to levels of very -- dividend yields.
The old visited dividend bubble you feel that it is a little bit there absolutely good to see Stephanie good to see you Stefan Grossman of the thesis fund management he's the CE -- portfolio manager seven minutes to go.
And we do see -- gain here green on the screen across the board for the major indices follow me on Twitter app -- claiming fraud.
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