We cover steel. That’s not just steel and nothing but steel, but includes all its upstream and downstream components. So we also cover scrap, iron ore, DRI, integrated steelmills, steel minimills, service centers, logistics and mill service providers.
Why? Its fun. We like the way steel touches almost every basic industry and commodity sector in one way or another. And it is very global, with China, India, Asian, Turkey, Eastern Europe, Brazil, Canada, Mexico and the US all slugging it out. We’ve covered this crazy industry for over 35 years on Wall Street and we intend to continue following its investment rhythms so long as they make sense to us!
- Aldo-on-Steel is our basic weekly steel industry report. It highlights what we think are the important themes of the day, tracks pricing, margins, supply and demand trends, inventory and other factors, and offers a favorite-to-least favorite list of steel company equities that combine the best facets of valuation, momentum and strategic positioning. Those stocks are ranked in attractiveness relative to our proprietary Fair Value Range, which we believe represents a triangulation of potential values based on earnings, cash flows, shipment and sales, and replacement cost of the assets. We adjust our valuation metrics for Quality Rankings, Growth, Operational Excellence and Financial Strength. Investors find our rankings helpful in decisions about long or short positions.
- Premium Services include consulting assignments that could involve retainer agreements, or something as simple as a conference call on a predetermined topic. We have annual and spontaneous events for clients and other guests, including our Steel Forum and Dinner held each June in NYC, a tradition since 1987. Events like this involve our network of industry contacts in a town hall format, making them unique and sometimes a valuable research tool.
MAZZAFERRO RESEARCH 