Roumell Asset Management 2Q 2017 Quarterly report

Roumell Asset Management just published it's 2Q 2017 investor letter with thoughts on deep value investing.

Roumell Asset Management 2Q 2017 Quarterly report

Roumell's deep value approach:

RAM mitigates the risk of buying unloved securities in several ways:
- Balance Sheet Strength—Provides time for investment optionality to play out and ability to average down
- Unique Assets—If the company cannot segue to profitability as a going-concern, the assets are desirable to competitors
- Multiple Shots on Goal—Like to have several ways to win, providing investment redundancy
- Alignment of Interests—Management and board incentives
- Price—Demand a sizable discount to our calculation of intrinsic value

The letter discusses three new ideas: Liquidity Services (LQDT), TICC Capital 6.5% 2024 notes, and Edgewater Technology (EDGW). 

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