Why Subscribe?

OKAAM tracks the write-ups and monitors of an analyst and investor. The service is there to provide access to compelling opportunities and resources for identifying others. As active investors, our own results were transformed as a result of organizing and systemizing our discretionary investment process in this simple way. OKAAM is a valuable tool for regularly sourcing investing & trading opportunities.

• Unique: OKAAM offerings are unique in several ways:
  1. Write-ups concisely cover differentiated, compelling, and asymmetric opportunities.
  2. Monitors cover interesting potential long/short opportunities, and some of the most important and impactful event-driven/special situations in key global markets.
• Weekly reports: Almost every week (44-46/yr), a Monitors volume is sent to your inbox. We are active, full-time investors, so write-ups (and updates) are also quite regular.
• Pricing: Considering our track record and what we provide, you will note that our offerings are far cheaper than peers'. You should be able to recoup your investment in an OKAAM subscription in one trade (not a statement of guarantee).
• Track record: We have a solid track record of ideas on the long and short sides of the market. Since launching OKAAM in Q3 2022, our track record to date consists of 35 write-up ideas, with a total win rate of 74% and an 82% win rate on equities, which have delivered >70% average gross annualized returns.

What to expect as a subscriber

The value we are committed to providing is distinct from similar investment analytics services, blogs, and newsletters in several crucial ways. First, through a multi-faceted offering that essentially tracks a big part of our idea generation and research processes, it's a bit of each. Second, we limit deep dive write-ups considerably, only resorting to them when warranted by information-dense or complicated situations, or when we believe particular nuance and depth is warranted.

Write-ups

Our write-ups (a few of which you can peruse here) tend to provide an overview of the situation/business; why we believe there is a mispricing and why we think the price will be different in the future; what we estimate the correct price (or range of prices) to be, if any; how we expect the discrepancy to be corrected.

The purpose of the write-ups is to concisely communicate our reasoning for trades. We try to keep our write-ups as short as possible. Excellently written and exceptionally thorough as many of the write-ups we've seen tend to be, most of the time we are looking for the crux of a thesis- what is the key driver, misperception, or underappreciated factor? In what scenario are we likely to lose money?

Write-ups ideas focus on various situations, from deep value/net-nets, to event-driven/special situations, macro, or thematic- they're so varied that we've stopped really categorizing them. We pursue ideas on both the long and short sides of the market, and we are generally size- agnostic.

We do make mistakes and some ideas ultimately turn out to be “duds”, but our track record for picking stocks (both long and short) has been quite good, with typically asymmetric reward/risk, and we're always working on improving.

While we find it impossible to commit to a set number of write-ups, you'll find that we're usually quite active. Furthermore, given that we have only recently transitioned this site from a closed one to a public one, we have adjusted our timing on posting write-ups to be maximally beneficial for our subscribers.

Monitors

Our Monitors (a sample of which you can peruse here) comprise three different categories of regularly updated watchlists: a) Fundamental long/short monitors, of which there are currently 4, b) Event-driven monitors, of which there are currently 8, and c) Thematic monitors, which will be unveiled in H2 2024.

Every week, a PDF volume is emailed to our subscribers (usually on Sunday evening). It’s only natural for us to say that, but if markets are a treacherous and noisy megapolis, then we consider these monitors to be renewable mines, just a few hundred klicks away from the big city, that are veritable troves of opportunities awaiting discovery and extraction. Most notably, this mine digging involves very little in the form of CAPEX and no risk of fatal injury.

We should emphasize that our monitors are meant to serve as a mere starting point for further research; they are not to be construed as definitive long/short recommendations (this is not just a legal disclaimer), so a familiarity with their use, as well as thorough research, is essential.

Fundamental Monitors list potential long/short opportunities that are based on our own screening and preliminary research. These monitors serve as useful starting points for identifying companies with interesting fundamental characteristics:

1. Fundamental Long Candidates
2. Zombie Revival Watch
3. Global Micro & Nano Gems
4. Fundamental Short Candidates

Event-driven monitors list some of the most interesting developments that may have important ramifications on price discovery:

1. M&As
2. Notable Insider Buying
3. Notable Buyback Announcements
4. Notable Index Additions/Deletions
5. Long Activism/13D Filings
6. Short Activism
7. Notable Earnings Surprises & Guidance Revisions
8. Potential/Active Short Squeezes

As stated in many a disclaimer (including OKAAM's), it's imperative that you do your own research.