coughlincapital.substack.com/@coughlincapital
Bio
Coughlin Capital是Brian Coughlin在Substack上运营的独立投资研究刊物。他专注于价值投资，对企业进行深入研究，以了解其长期价值创造潜力。他曾发表过对拼多多（PDD）和Markel（MKL）等公司的深度分析报告。 网络评价：发表过PDD和MKL深度分析研报
Ideas
3 Ideas
A Merger Arb With 30-50% Upside
Discusses a merger arbitrage opportunity in Meituan with 30-50% upside potential.
Big Tech Is Becoming Big Utility
Argues that increasing capex of big tech companies is changing their business models to resemble utilities, leading to lower valuation multiples.
Shift4 (FOUR): Cheaper Than Ever
The author argues that Shift4 is significantly undervalued, trading at ~9x NTM earnings and under ~5x 2027 FCF if management hits their targets. The company has a $1 billion buyback authorization (~20% of market cap) and the founder was buying aggressively at higher prices. Despite the stock hitting 52-week lows, the author believes the market is missing the company's growth and operating leverage.