Reports

A more thorough analytical treatment for companies where the problems are more complex and extensive – lending themselves to lengthier coverage.

Choose a company below to see a full report, or go to the Most Dangerous Companies list Here

• Brunswick Corporation
  
  June 6, 2005, $43.77 Our work on Brunswick provides an excellent example of a slow-leak type short idea that also had some short term triggers. Boating had been in decline for a long time due to shifting consumer preferences and other long term negatives. Wall Street analysts chose to ignore this, instead focusing on short term factors.
  
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• Cogent Communications
  
  November 14, 2007 $24.82 Buying up all that internet capacity at bargain prices seemed like a sure thing. But being the low cost supplier hasn’t done the trick as technological improvements in the industry have continued to keep up with demand. Ongoing pricing pressures by competitors have caused Cogent to continue to lose share.
  
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• MoneyGram
  
  February 13, 2007, $29.34 Due to a deteriorating operating climate caused by a price war, declining remittances due to construction slowdowns and new competitors entering the space, the company took some extreme external risks in order to make its numbers – something they couldn’t achieve with their business model.
  
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• Premier Exhibitions
  
  September 21, 2007 $16.58 After capitalizing on the most successful exhibition concept in history, the company was able to convince Wall Street that they could just keep on creating these blockbuster concepts, a claim without a shred of evidence to back it up. Signs of saturation and problems with existing shows were conveniently ignored.
  
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