Costigan Reports

Costigan Reports Inc. is an independent and conflict-free global equity research boutique company based in Vancouver, Canada. Founded in 2015 by Robert J. Costigan, CFA, CAIA, and daughter Carolyn, Costigan Reports was created to bring timely, actionable long and short equity investment ideas to our clients. Ours is a mosaic approach. We first apply a fundamental bottom-up analysis of material public information and combine it with non-material, non-public information. We specifically seek out and endeavour to take advantage of what we believe is a market misprice of a given company. For our long recommendations, we search for companies with specific attributes: strong operating cash flow, strong balance sheet, good corporate governance with clearly defined capital deployment strategy, and a catalyst to move the stock higher over the near-term (one year) and medium-term (three years). For our short recommendations, we search for companies with the following specific concerns: declining or negative operating cash flow, high debt or increasing leverage, poor corporate governance, and instances where we believe the market is currently overpaying in the hope of future growth which may never materialize. To remove bias we have no affiliation of any kind with any of the companies we cover. We are compensated solely by our subscription membership fees. Costigan Reports is a trading name of Messels Limited which is authorized and regulated by the Financial Conduct Authority of the UK.