Eight insightful letters sent by Roumell Asset Management
Roumell Asset Management
In the past eleven years, Mr. Roumell has sent very few public letters to the Board and the CEO. Nevertheless, the letters sent by Mr. Roumell are rich with insights gathered through field check (“Scuttlebutt research”).
It is apparent from his letters that he attends trade conference, speaks with competitors and customers to gather information about the company’s business. In one of his letters he wrote, “I personally sat in a commercial compressor distribution store to witness first-hand the strength and persistency of the Company’s after-market business”.
In fact, his fund’s website has a dedicated page named “company visit” (very rare practice among investment funds). You can see a few pictures taken during his field visit.
I’ve compiled the list of “interesting” excerpts from his letters. Also, the complete letters can be found in the “exhibits” section. The purpose of reading this? Readers can use it for “idea generation” and to improve their research skills.