About
ABiS Capital publishes independent research on US-listed companies under the name ABiS Capital Research.
What we do
We publish two kinds of work. Equity research reports set out what a company is worth, what its share price already assumes, and what we would do about it. Event studies show how a stock has reacted the last times something like an upcoming catalyst happened, with no rating attached. The two are designed to be read together.
How we are different
We start from the price.
The question is never only "is this a good company?" but "what does the price already assume, and is that likely?"
We say what would prove us wrong.
Every report names its invalidation points and sets dated forecasts in advance.
We publish our record.
Every call and forecast is logged on the track record page, and outcomes are added without editing the original.
We are independent.
ABiS Capital receives no compensation from the companies it covers, and does no banking or advisory work for them.
How we score calls
Each equity research report makes a call, logged on the day it is published. We measure it from that day's close, using split-adjusted daily closes, and update it after every US close. A Buy earns the stock's return minus the S&P 500's. An Avoid earns the S&P 500's return minus the stock's: what holding the index instead would have earned. Watch calls are logged but not scored, and neither Avoid nor Watch is a short call. The main track-record chart puts an equal amount in each open Buy or Avoid call, rebalanced daily; the net-return view does the same for every call, losers included. Forecasts are checked on the date set in the report, and the result is written next to the original, which is never edited.
Contact
For questions about our research, or to be told when new work is published, see the contact details at the foot of this page.