The recent Volkswagen (VLKAY) emissions tampering scandal is about the worst thing that can happen to an investor - the kind of idiosyncratic, 'deus ex machina' event that can devastate an investment thesis and yet is both uncontrollable and - for those of us who cannot afford to conduct a road emissions test of a … Continue reading Perspectives on the VW scandal

Quicksilver (ZQK) has been one of my core bearish positions for most of the last year, as I viewed the company's ~$800mm net debt load as unsustainable in the face of interminable secular trends and poor management. I highlighted some of the problems facing the company in a couple of Seeking Alpha articles here, here, … Continue reading Quicksilver: A Quick Post-Mortem