Before making a decision to invest, it is imperative to look for specific financial, competitive and structural characteristics that signal that the problems are temporary. READ MORE +
“We understand the importance of focusing on cash flow along with earnings. At the end of the day, you can't spend earnings.”
Why we don't talk to company management.We are not looking for short-term outlooks or positive spins. Here's what we look for... Ask Us
Peter W. Sicher, CFA
Peter Sicher has a time-tested record of conducting intelligent, fundamental research to understand a company's business model, strategy, future prospects and management effectiveness.
With a keen understanding of how motivations and incentives may influence investment decisions, Peter incorporates the growing field of behavioral finance into our strategy at Olstein Capital Management. Prior to joining the firm, Peter held the position of Equity Research Analyst for Health Care Services at Sidoti & Company, LLC, where he prepared numerous equity research reports for public consumption. Previously, he served as an Associate at Bond Street Holdings and as an Analyst at Capital One Asset Management. Peter is a CFA charterholder and a member of the CFA Society New York.
Peter graduated from Tulane University with a BA in Political Economy and from Carnegie Mellon University, Tepper School of Business in Pittsburgh with an MBA. While at Carnegie Mellon, Peter served as a portfolio manager for the Tepper Opportunity Fund, a managed, long-only US equity student-run investment fund.
It is an investment analyst's job to determine the economic realism of management's assumptions and to eliminate management biases by making the appropriate adjustments to reported earnings data. READ MORE +
A careful reading of the letter not only focuses on what management chooses to emphasize but also what management chooses to omit or minimize. READ MORE +
Only traders and speculators should be concerned about short-term stock price movements measured in months, days, or hours. READ MORE +
Comparing depreciation schedules to economic reality is a must for any investor when analyzing financial statements. READ MORE +
As a result of this emphasis on avoiding short-term volatility, investors have become more focused on short-term price movements. READ MORE +
We read for "heat," looking for subtle phrases or trigger words that, in our experience, may signal a significant change in an industry or company that could unlock or create significant long-term value for shareholders. READ MORE +
A company that communicates effectively with shareholders and other equity market participants can increase the probability of successful turnaround. READ MORE +