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ABOUT

After I was laid off by my former employer, I shared my work with dozens of managers searching for a new job. To my surprise, fund managers, small and large, shared a similar response to my research: 

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“We will not expect you to go nearly as deep in the research we would expect you to perform should you be hired.” 

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​I was shocked, for in my view, the level of research I perform is necessary for one to justifiably refer to themselves as the “owner” of a company.

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Case in point: In my report on Ingles Markets, I conducted over 1,000 county tax record searches through which I compiled valuation data on 448 properties owned by the company. Any private acquirer would be acutely interested in the financial, geographic, and strategic value of Ingles’ vast real estate portfolio, and yet an in-depth exposé of its properties was all but absent from the research landscape. 

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The market response to that report was emphatic. Several articles were written about it, and I was interviewed by Edwin Dorsey, who runs a well-known newsletter called “The Bear Cave.”

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It became clear that if firms were broadly unwilling to commission what I consider to be necessary work, then I would commission it myself through my own company, Maiden Financial. 

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So welcome to Maiden: your one-stop-shop for “no bullshit,” institutional-grade equity research. We do not provide advisory services, asset management services, consulting services, and we do not play into the mindless twaddle that comes from regurgitating the words of company management teams.

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Our love language is hard work and facts. We do not analyze companies or industries simply because doing so is likely to drive sales; we analyze companies and industries when we believe that we have a high probability of producing an analytical work that is differentiated in both insight and depth. 

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Put differently, Maiden researches for research’s sake, and research’s sake alone.

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As a subscriber, you may expect one long-form, well designed report once every two months, with timing variation dependent on urgency, market conditions, report format, and project scope. Maiden Elite members benefit from a host of additional features, including quarterly thesis updates, covered company datasets, and an annual performance report. 

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See our brochure for more information, and please note Maiden's Terms and Conditions and Privacy Policy for important disclosures.

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Signed,

Gwen Hofmeyr​

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