







Domestic Subscription Service
Unit Economics currently offers select clients subscriptions to the
Domestic Service. Our research efforts for this product are
focused on initiating and continuing research coverage on 6-8 new
U.S.-listed stock ideas (either long or short ideas) per year. For
each idea, we publish a comprehensive 10-20 page research
report. Our reports include financial models and earnings forecasts
(see sample report), as well as industry analysis and other relevant
material. In addition, we continue to publish periodic updates as
significant events occur.
We also publish 3-4 20+ page, macro/thematic reports each year.
These reports cover topics that impact investment returns, such
as the grain markets, natural gas and Global Cooling. Generally
(but not always, our macro/thematic reports are married with our
individual stock ideas in the hope s of enhancing both our
informational advantage and client returns.
In addition, our analysts are always available to subscribers and we
frequently travel to meet our clients to discuss ideas and the
markets in general.
Pay Per Idea Clients
We are able to offer research on securities that do not fit into our
European and Domestic Portfolios to clients that have not
subscribed to either service. In some cases we will offer an
idea that we have researched for our Portfolio subscription clients
to our Pay Per Idea clients with a five trading day delay from the
time the research was presented to our Portfolio clients. In addition,
as we learn the investment criteria of our Pay Per Idea Clients we
will, on occasion, focus our efforts to find ideas and write research
reports that fit their specific needs. We do not, however, publish
research on any company at the request of our clients - all ideas are
internally-generated by the Unit Economics team.
Recipients of this research should be aware that the publisher may
invest in many of the same ideas it provides to its research clients,
either for its own account or in connection with managing assets for
third parties. The publisher is not obligated to invest in the
companies addressed in research reports and it may buy, sell, or
hold such companies at any time in its sole discretion and without
any obligation to inform research clients of such actions. In many
cases, the publisher may buy or sell positions for its own account or
in connection with managing assets for third parties in advance of
delivery of research reports. Your subscription to this service
constitutes your acceptance of this policy.