The Illiquid Edge
Learning everything about small and illiquid stocks
| Platform |  | Pricing | Only free issues | Publishes | Weekly |
|---|---|---|---|---|---|
| Issues | 41 | Founded | a year ago | Last Issue | a month ago |
| Active | |||||
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benevolusinsights.comLatest Issues
Sportsman’s Warehouse (SPWH) is wrongly priced for bankruptcy. At 0.86x liquidation value, and 2x midcycle FCF, it is too cheap to ignore.
Thinking about this company, I am reminded of a Carl Icahn quote: “You gotta buy them when nobody wants them and sell them when everybody does.”
No one wants to buy this one, the stock is bombed out, and looks priced for bankruptcy, so we...
GEE Group Inc ($JOB): Trading at 1.35x net cash with 100% upside.
“It’s absurd that a business that is turning profitable again with $80 million in revenue would be valued at a negative number.” - CFO of GEE Group
Asymmetric bets like this are the types of stocks I love the most. An illiquid stock left...
Final thoughts on GWOX
GWOX is a very interesting little company. It is very illiquid, and doesn’t show up on any screener that I have tested. In terms of governance it is majority controlled by an Employee Stock Ownership Plan. As I mentioned in my notes from th...
An Update on Beam Communications
Yesterday Beam Communications published their full year results. I previously covered Beam in my post in May, where I pointed out that it was trading below a tangible book value of A$5.7mn, undergoing strategic review and should be able to...
Notes from the 2026 Goodheart-Wilcox (GWOX) annual meeting
It’s been some time since my last post. That is because this summer I was working at Gate City Capital. Due to this, I haven’t had much time or flexibility to write, but that should pick back up now. I learned a lot working with Michael Mel...
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"Know everything about everything small" - Warren Buffett
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