Boyar Research
Boyar Research provides independent research utilizing a business person approach to stock market investing. Through the firm’s various publications, it provides in-depth reports profiling companies selling below-estimate of their intrinsic or private market value. It takes a company’s financial statements, tears them apart and reconstructs them in accordance with economic reality as opposed to generally accepted accounting principles. Boyar Research seeks possible investment opportunities across the market capitalization spectrum and within a diverse range of industries.
BOYAR PUBLICATIONS
Asset Analysis Focus, AAF
In-depth research reports on publicly traded businesses selling at significant discounts
Analyzed through a private equity approach
Agnostic in terms of both industry and market capitalization
Approximately 1 in 2 ideas outperformed the index over a 1-, 3-, and 5-year period
The average outperformance of "winners" was 26%, 21%, 24%, and 21% for 1, 3, and 7-year time horizons
Annualized outperformance relative to the benchmark is highest over 5 years (6.4% outperformance)
Boyar's Micro Cap Focus
Started due to lack of research of the smallest companies on Wall Street
Utilizes the same methodology as Asset Analysis Focus but concentrates on companies of $500 million or less
~1/3 of ideas profiled in Boyar’s Micro Cap Focus were acquired
52% of all the ideas profiled outperformed the index
The average outperformance (annualized) among stocks featured was 41%, 32%, 41%, and 27% on a 1, 3, 5, and 7 year basis