ALEZOR Research provides independent, actionable long/short equity research for professional investors, with a particular emphasis on earnings quality.
We analyse European and US listed companies where earnings quality, cash-flow dynamics, business economics, accounting signals and market expectations may create an attractive investment opportunity.
Our research pays particular attention to:
- discrepancies between reported earnings and cash flow;
- working-capital developments;
- margin and profitability risks;
- unusual or aggressive accounting practices;
- balance-sheet and financing pressures;
- the quality and sustainability of reported earnings;
- differences between market expectations and underlying business performance.
We review annual and interim reports, regulatory filings, company presentations, earnings webcasts, industry developments and competitor disclosures.
About the analyst
ALEZOR Research was founded by Alejandro Acosta, an independent financial analyst with more than 15 years of experience across equity investing, credit analysis, banking and trade finance.
Alejandro holds a Master of Science in Business Administration and a Magistère in Finance from Université Paris 1 Panthéon-Sorbonne. He completed all three examinations of the CFA Program, passing the Level III examination in 2013.
He is also the author of Competitive Advantage of the Long-Term Investor, a guide to strategic thinking, intrinsic valuation and earnings-quality analysis in equity markets.
Access to our research
Our private Research Portal contains a continuously updated selection of European and US long/short investment ideas.
Our book
Competitive Advantage of the Long-Term Investor
The book examines the competitive advantages available to long-term investors, practical approaches to intrinsic valuation and examples of earnings-quality issues identified in investment cases.
It is available in Kindle and paperback editions.