Author Archives: ADK

Lululemon is overvalued and you should short it.

February 13, 2013 · by · in Consumer & Retail, Shortselling

By all conventional metrics that we employ, Lululemon appears overvalued: Lululemon’s meteoric rise as an iconic branded clothing retailer has obscured the apparent disconnect between the admittedly strong fundamentals and the downright unreasonable valuation. Lululemon’s existing valuation only appears reasonable if one values it on the basis of 2016 EBITDA (using the already aggressive growth […]

Mining Investing: Deconstructing Mining Asset NAVs

January 23, 2013 · by · in Metals & Mining Investing

Investors evaluating mining companies will often encounter the “Price-to-Net Asset Value” (P / NAV) metric. P / NAV is only one of many metrics used to evaluate mining companies, as there are a slew of others metrics, commonly including: For Explorers and Developers: TEV / Anticipated Resource (for very early-stage developers) TEV / Resource For […]

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