Karr: Deep research reveals when consensus bear cases form bull theses
Adam Carr · Adam Karr: The Investing Blueprint · Nov 12, 2024 · at 31:43
Adam Karr, president of Orbis, explains how in-depth bottom-up diligence on Motorola Solutions demonstrated why public safety LMR networks were resilient against broadband disintermediation.
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“Some of my favorite investment situations are the bear case is the bull case. So there's this common bear narrative. And if you don't kind of do it on your own work, if I were bringing up this name and I was talking to someone, they would have told me all of the reasons why I was going to get disintermediated. And I would have sounded really sensible and I was like, yeah, I'm not touching that. I'm not going to spend any time on it. But if you build it up yourself and you really spend enough time to get into that, that last five to understand it, it's like, not only is that wrong, but actually this is the bull case for why this is going to be a great company because they've got a very formidable mode in a way that you don't understand.”
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