MORAM Capital

We are a group of four professionals with financial industry experience who collaborate with Family Offices and Portfolio Managers. Additionally, throughout the week, we publish company analyses, interviews with management of the companies we follow, macroeconomic insights, and educational articles on our website, Moram

Every Sunday, we compile this information and send it to our subscribers via email.

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Our content: Investment theses, Educational pieces, macroeconomic analyses… + Portfolio Management)

Some examples of our last 6 months

Educational pieces

  • Analysis from scratch of the US restaurant industry , reading hundreds of 10K & 10Qs to build and Spreadsheet detailing the process from the universe of 35 companies to the 4 chosen

  • Step-by-step explanation of how to perform a DCF analysis with an attached spreadsheet detailing the calculation for The Italian Sea Group and Sanlorenzo (two boat companies that we have thoroughly analyzed).

  • Guide to the Recreational Boat, Yacht, and Superyacht Industries. Explaining, from an investor's perspective, the main players and segments of the industry, along with details/differences to consider for analysing each one. Probably, there is nothing similar about these industries on the internet

  • Guide to the LNG market explaining how the industry works, the demand side (all data about importing countries, regasification facilities & FRSUs,..), the supply side (Data about countries, liquefaction assets, FLNGs…) The role of the LNGC and the details of each vessel on the sea (complete fleet), plus a review of the leading companies (Cheniere, New Fortress Energy, Golar, Flex…)

  • And much more…

    • Explanation of debt types with applied examples

    • Asset flows and why they are so important

    • Explanation about hot to measure the liquidity in the markets

    • Valuations methods and practical examples of each method…

Analysis of companies

Many completely unknown or rarely followed companies have brought us tremendous joy, along with more classic ones that we have been following for a longer period. As we have mentioned many times, we seek industries where we believe there is an opportunity, and we analyze them comprehensively. When we see that the rules of the game change—such as with the Fed's Pivot—we roll up our sleeves and make an extra effort to understand and find what makes sense. That's why we are enjoying it so much, and we believe the results will continue to come!

  • Vysarn LTD - Probably the discovery of the year, +200% since the analysis, and great things to come.

  • The Superyachts series, where in addition to The Italian Sea Group which first thesis we published back in 2021, this year we added Sanlorenzo and Ferretti (before its dual listing in Milan)

  • Red Robin Gourmet Burgers - New CEO who, in just one year, has tremendously improved the business, on the verge of what seems to be a promising year for the industry. Another turnaround story, the kind we love

  • One Group Hospitality - A combination of growth and undervaluation for a sector with very promising prospects in 2024.

  • Emma Villas - Recent IPO in the Italian luxury vacation rental sector. We love Small Caps for companies like this one, completely unknown to the general public.

  • Tamburi Investment Partners - The thesis that has opened the most doors to institutional investors for us so far

  • Unidata & Intred - The opportunity in fiber optics in Italy through small cap exposition

  • Newlat - Patience has its reward. Basic Italian consumption at yearly highs

  • Hotel Chocolat - A turnaround for the history books (takeover with a 170% premium).

  • Kistos - The star of 2022 that ceased to shine in 2023.

  • New Fortress Energy - Probably, one of our best and most complete analysis

  • Arcos Dorados - The franchisee of McDonald's in Latin America that was trading at multiples that didn't make sense.

  • Good Times Restaurants - Awaiting the trial's conclusion for the deserved rerating.

  • And many other detailed analyses that you can find published on our website:

    • OneWater Marine, MarineMax, Renold, Ibersol, Twee Vee, Catana Group, Serica, Harbour, Maurel & Prom, Ecoener..

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Portfolio Management focused on Small caps & Macro | Subscribe to receive each Sunday, an investment thesis or macroeconomic article in your mailbox


Portfolio Management focused on Small caps & Macro | Past: Hedge Fund Analyst | Subscribe to receive each Sunday, an investment thesis or macroeconomic article in your mailbox