Dear Subscribers,
First. The news...
Today Steven Lamar and I are launching Wall Street Beats, an online investment media platform that will be focused on the US and global markets, as well as stock and sector specific commentary, research and analysis.
As you all know, I’ve been a financial journalist and stock researcher for longer than I care to remember. I also co-founded two short-biased investment research firms and was an analyst at a risk arbitrage firm. Almost all of my career I have been in and around the stock market, probing the underbellies of businesses and building life-long relationships with many of the best and the brightest on Wall Street.
My business partner in this venture, Steven, ran a successful hedge fund and went on to become an accomplished entrepreneur and CEO... including being the co-creator of Beats by Dre headphones.
We’re both passionate about demystifying the inner-workings of the world of investing, where even the most thoughtful investors can find themselves unwittingly on the wrong side of a trade. There is, after all, a fine line between being wrong, getting hoodwinked, and making money.
That’s the point of Wall Street Beats...
We’re teaming with a roster of a dozen of my favorite investors. These are people who have been there and done that over the span of their professional careers... and who still put their own money to work every day.
Their only bias is they don’t just talk their book, they fundamentally believe in it, which means they talk about what they know best. That, in turn, results in thoughtful, well-researched – and best of all – actionable ideas.
At Wall Street Beats, our mission is to keep our subscribers hyper-informed, ahead of the curve and always thinking through their next move.
This is what I’ve done my entire career. The difference now is that I’m working with our team every day to probe and explore new ideas and opportunities.
What I want from you, is to be part of it.
Our Beats Roundtable is a daily morning webcast, podcast, morning call and a gateway for subscribers to listen in as our pros share their current investment theses and strategize how to execute them.
On top of that, we plan to offer subscribers direct access to our pros through an exclusive online portal that will feature in-depth commentary, professional analysis, advanced quantitative tools, and an interactive investor community.
The best part: All of it is unbridled, unscripted, unfiltered… and independent.
A little backstory...
For me, I’ve always had this dream...
I’ve wanted to bring together some of the most well-respected analysts, portfolio managers and investors I met as a journalist to discuss markets. But I never thought it would come to be.
That was before I met Steven. He had a similar idea, except his was sparked by his participation in a weekly conference call several of his investor friends hold. “These are the kinds of conversations all investors need to listen to,” he told me over lunch when we first met.
The thing is, he was serious…
Investor calls are nothing new. They’re primarily run by investment firms... with their analysts, portfolio managers and sales geeks, who are often on the hook to say something, making sure they don’t offend clients, potential clients, or their own bosses.
What Steven liked about the conference call he listens to was that it was a collection of friends who are seasoned investment professionals sharing and debating ideas, and challenging one another to make better investment decisions… and, of course, make more money.
‘Mind if I make a few calls?’
A week or two after we started talking – after letting what Steven said sink in – I called him and wondered if he minded if I made a few of my own calls.
“Sure, go ahead.”
So I did, reaching out to friends who were managing their own books and looking for a new way to stay connected and gain an edge… and liked the idea of a new kind of financial media.
One by one, I started explaining what Steven and I were thinking and wondered if they had any interest.
To my surprise, they did.
A Diverse Group of Pros
I’m thrilled with the team we’ve assembled. It’s a diverse and extremely talented group of skills, styles, interests and approaches, with one thing in common: Investing is central to what they do every day, and they love doing it.
They are (in alphabetical order) ...
Berna Barshay, who has carved out a niche investing in retail, consumer products, travel and leisure and media/entertainment. We have known each other for decades and both worked together at our last “gig,” where I was in disbelief how insightful and accurate her work was.
Benjamin Brey, trained as a Fidelity analyst who went on to blaze his own very independent path, and has quickly proven himself to be our resident macro and markets analyst... and a data junkie, to boot. Keep an eye on Ben... he’s unknown to most, but a rising star, whose persona is best summed up by the title of his newsletter and social media feed, Capital Misallocation.
Paul Kedrosky, a longtime friend, a fellow San Diegan and also one of the most incisive minds in tech research I know. When he’s not trekking in the backcountry either trail running or skiing, he’s an angel investor, hedge fund consultant, nonconformist and our futurist. His focus is tech and med-tech... and Paul K. toes nobody’s line but his own, which is often well outside any box. Who else, after all, would have a newsletter called, Applied Complexity?
Jeff Macke, a neighbor, who also happens to be one of the all-time great retail investors. Jeff is never at a loss for words and if he can’t explain what he means, he’ll draw it. (Seriously!) He really does eat, breathe and sleep retail. His late father was CEO of Dayton Hudson, now Target... so retail is in his blood.
Robert Marcin, a former portfolio manager I’ve known for 20 years. Never one to hold back on his opinions – and would never be accused of being soft-spoken – Robert Marcin is a throwback to the days when stock-picking and valuation were the king and queen of the prom. He’s a solid gold generalist who toils in all market caps and is steeped in the numbers and isn’t shy to pick a lottery ticket or two (or ten) ... and is as quick to admit when he’s wrong as when he’s right.
David Maris, six-time No. 1-ranked healthcare analyst by Institutional Investor magazine and called The Last Honest Analyst by Smart Money Magazine, David is not shy about calling things as he sees them. Early warnings about Valeant, Biovail, Elan, and Mylan – as well as early Buys on Allergan, Alcon, Jazz among others – have won him fans. David was raised in a healthcare family. His father was on the board of Roche and CFO of Roche Americas, and many of his siblings are involved in healthcare and/or investing.
Paul Meeks, a technology analyst’s technology analyst. Paul has been covering and investing in technology since the early 1990s – not just as an analyst but as a portfolio manager... having launched and managed the world’s largest technology fund franchise. I liked quoting him when I was a journalist, because his opinions were always unvarnished and perceptive. They still are.
Bob Morris, multi-time No. 1-ranked oil-and gas analyst by Institutional Investor magazine, is an expert in the sector. I know Bob by his reputation, which is beyond reproach. He has a no razzle-dazzle style, with opinions that are steeped in decades of having been the go-to analyst on energy for most serious institutional investors.
Katherine Spurlock, who like me inherited the skeptical gene, but unlike me, ran a short book at a hedge fund. Don’t let her genial New Orleans manner fool you; Katherine is a tenacious researcher and digger who gets her kicks from diving down rabbit holes in a quest to find whatever piece of the puzzle is missing. (If she can’t find it, nobody can.)
Nadine Terman, a dynamo, who runs her own fund. To say that she is a data wonk would be the ultimate in understatements. Along with Steven, she co-founded Longbow Trade Signals and is our go-to on short-term technical trading strategies.
Russell Young, a former hedge fund analyst I’ve known for years, who swings both ways – long and short. But once Russell’s locked in on an idea, he’s unwavering and feisty, with strong conviction steeped in deep research. He also gets the credit (or blame) for introducing me to Steven.
As for Steven Lamar, his natural inclination is to shun the limelight, but he was thrust on stage thanks to his role in creating Beats headphones. But not for the reason you would think. Search Wikipedia or the history of Beats or on the Beats by Dre website – you will find he isn’t mentioned. The reason, in itself, is quite a story. Steven wound up in a series of legal disputes starting in 2006, which ultimately led to his suing Dr. Dre and Jimmy Iovine, and also… Apple. It was a multi-year legal battle, pitting Steven against the music industry’s heaviest hitters, the largest tech company in the world, and arguably one of the best legal teams in America. And guess who won?
Next Steps...
For me, I’ll be moving everything I publish to Wall Street Beats, where I’ll be actively collaborating with members of the team to produce our daily content.
That includes my Red Flag Alerts and my eclectic take on the market, companies or whatever strikes me in the moment.
All On the Street Substack subscriptions will be automatically transitioned over to the new platform.
We believe Street Beats is the start of an exciting journey and will prove to be something special.
We look forward to seeing you there.
To sign up, please click here.
Cheers,
Herb
Feel free to contact me at herb@StreetBeatsMedia.com. You can follow me on Twitter (X) and Threads @herbgreenberg.
Excited to see what you have in store. It sounds awesome. Congratulations and I’m staying tuned for everything that happens. 🎉🥳👏🎊🙌🍾🥂
Huge congrats to you all! Fired up to start listening. Appreciate all you do for the investment community!