Bronte Capital

The sometimes eccentric views of John Hempton

Saturday, March 21, 2015

April is the cruellest month

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Lew Burton (one of those mathematical finance professor types) just tweeted : Well I guess we might find out how much short gamma there i...
15 comments:
Wednesday, March 18, 2015

The Herbalife compensation puzzle

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Before I went away I left people a puzzle - to force people to understand the Herbalife compensation scheme. The puzzle was - and to quote...
17 comments:
Sunday, March 15, 2015

Rolls Royce and the Sequoia letter

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At Bronte we have a large position in Rolls Royce - the UK based manufacturer of jet engines. Rolls is a relatively simple story - Rolls i...
25 comments:
Friday, March 13, 2015

Herbalife and subpoenas

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Bill Ackman has now conceded that his (sub)contractors have received subpoenas regarding Herbalife. The Wall Street Journal - who broke th...
4 comments:
Thursday, March 5, 2015

A puzzle for the next ten days...

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I am just about to get on a plane to China and Hong Kong - so I will be away for a little while. However I have a puzzle for all you Herba...
11 comments:
Saturday, February 28, 2015

An interpretation of the Herbalife result

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The Herbalife result had three elements - two bad, one good. The bad elements are (a). That volume fell - and quite sharply - minus 6 pe...
13 comments:
Tuesday, February 24, 2015

Maximus and outsourced unemployment services in Australia

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Maximus ( NYSE:MMS ) is a large cap and highly valued government outsourcing company based in Reston Virginia (outer suburban Washington). I...
5 comments:
Saturday, February 21, 2015

The epic Retrophin 8-K filing

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Martin Shkreli was formerly a biotech short-seller. I know those people. I am one. They have their eye out for the inflated claim re the e...
6 comments:
Thursday, February 19, 2015

Stock research on Spark Networks (jdate.com)

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We are having one of our irregular looks into Spark Networks - the owner of the profitable J-Date dating site (and the unprofitable "C...
13 comments:
Thursday, February 5, 2015

Mr Andy Z. Fan is better than you

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This is possibly the finest biography ever submitted to the SEC. [You can find the original here .] Background of Mr. Andy Z. Fan: ...
13 comments:
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