14 - singular research presentation.pdfdirector, corporate access (310) 413-5788 christopher j....

14th Annual, San Francisco, “Best of the Uncovered” Conference 2019

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THANK YOU FOR ATTENDING & PARTICIPATING IN OUR CONFERENCE

337%

181% 168%

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100%

200%

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400%

SingularResearch

Russell 2000 S&P 500

Cumulative Returns8/2004 - 9/2019

10.2%

7.0% 6.7%

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3%

6%

9%

12%

SingularResearch

Russell 2000 S&P 500

Compounded Returns8/2004 - 9/2019


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1 LEIX Lowrance Electronics 2/1/2006

2 DRTK Duratek 2/7/2006

3 OUTL Outlook Group 7/24/2006

4 AMPH American Physicians Service Group, Inc. 8/23/2007

5 BNE Bowne & Co., Inc. 2/25/2010

6 VRAD Virtual Radiologic 5/27/2010

7 ITIG Intelligroup 6/15/2010

8 XJT ExpressJet Holdings 8/5/2010

9 AMN Ameron 7/6/2011

10 SYNO Synovis 12/16/2011

11 TRCR Transcend Services, Inc. 3/7/2012

12 INMD Integramed America, Inc. 6/11/2012

13 USHS U.S. Home Systems 8/7/2012

14 ANEN Anaren, Inc. 4/20/2013

15 LEDR Market Leader, Inc. 5/8/2013

16 LBMH Liberator Medical Holdings 11/20/2015

17 SNC State National Companies, Inc. 7/26/2017

18 STS Supreme Industries, Inc. 8/9/2017

19 CTRL Control4 Corp. 5/9/2019

Singular Research Buyouts


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“We invite companies for one reason and one reason only: Because webelieve they can generate Alpha for our clients, not because they will pay, notbecause it will do investment banking deals.”

Last year at our Midwestern Values Conference you could hardly avoid making

money.

• General Finance (GFN) + 208%

• Emergent Bio-systems (EBS) + 55%

• Kulicke & Soffa (KLIC) + 27%

• Bladex (BLX) -22%

• Aceto which we dropped -20%.

We believe we have some very strong Alpha generating candidates again this

year.”

--- Robert Maltbie, CFA President, SingularResearch

Seeking Alpha is a crowd-sourced content service for financial markets.

Stock market Insights & financial analysis, including free earnings call transcripts,

investment ideas and ETF & stock research written by finance experts.

WHY SINGULAR RESEARCH?

• Unbiased Equity Research

• Focus on Uncovered Small Caps & Micro Caps

• Superior Track Record

• Experienced Staff of Analysts

• Attractive Value Proposition

• Superior ROI

• Great value!

Singular Express service is available for $99 month with Seeking Alpha!

Singular Express Trial Subscription Link at Seeking Alpha

https://seekingalpha.com/author/singular-research#regular_articles


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Singular Research

22287 Mulholland Highway, #417

Calabasas, CA 91302

(818) 222-6234

www.singularresearch.com

Robert Maltbie, CFAPresident

(818) 222-6915

[email protected]

Alicia M. VelgosMarketing and Public Relations

(818) 515-0344

[email protected]

David BernardDirector, Corporate Access

(310) 413-5788

Christopher J. Sakai, CFA, MBAAnalyst & Institutional Sales

(818) [email protected]

Michael Walter, MBAInstitutional Sales (818) 222-6234

[email protected]


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Presentation Schedule

December 12, 2019


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14th Annual, New York City, Summer Solstice Conference 2019


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BARRON’SQ&A

2 Unloved Stocks to Buy And 3 To Dump (or Short) Millennium Asset's Robert Maltbie likes to buy hidden gems and bet against overhyped growth stocks.

Robert Maltbie began his career as a retail stockbroker for Dean Witter and quickly learned that there was more to job than understanding the nuances of buy and hold ratings. He saw firsthand the inevitable conflicts of interest posed by investment banking, and came to recognize the steep odds against individual investors.

So in 1999, he set out on his own, launching Calabasas, Calif.-based Millennium Asset

Management, specializing in smaller, underfollowed companies on the long side and bigger companies on the short side. In 2005, he founded Singular Research, which now sells small-cap research to Fidelity Investments and other big money managers. Four years ago, Maltbie returned full time to his first love, managing money. Today, Millennium Asset Management manages about $150 million, including a hedge fund called Argonaut Partners, which began operations in 2005. Last year, Maltbie, 55, launched a mutual fund called LoCorr Long/Short Equity I (ticker: LEQIX). Both buy undercovered smaller companies that have historically traded at a 20% to 30% valuation discount and short mid- to large-cap companies whose prospects Maltbie thinks are deteriorating. After a strong performance out of the gate, the LoCorr fund is down sharply this year as investors sell off smaller companies. Some of Maltbie's holdings also had growing pains, including Advanced Emissions, the largest position in the LoCorr fund. But Maltbie is staying put in the sector, arguing that eventually institutions will discover the charms of the names he owns, prices will climb, and the companies will be added to the indexes. The LoCorr fund's longer-term performance, he maintains, will rebound: Argonaut, which is almost "a mirror image," has returned 11.3% a year since inception, versus 7.4% for the Russell 2000 and 0.53% for the HFRX Equity Hedge index. As the market rises, Maltbie's research is also turning up a number of short positions. To learn what they are, keep reading.

Analyst Bio

Name: Robert Maltbie Jr.

Age: 55 Title: President, chief investment officer, Millennium Asset Management, Calabasas, Calif.; Chairman, Singular Research Education: B.A., political science, UCLA Hobbies: Basketball, golf, movie going


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Conference Personal Notes Section

THANK YOU FOR ATTENDING & YOUR PARTICIPATION

22287 Mulholland Highway, #417

Calabasas, CA 91302

(818) 222-6234

www.singularresearch.com

14 - singular research presentation.pdfdirector, corporate access (310) 413-5788 christopher j....

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