One-Page Stock Pitch: Bloomin' Brands
Restaurant operator at a depressed valuation has positive potential developments
Welcome to the One-Page Stock Pitch, where I share an under 500-word round-up of an investment thesis and its risks. Today’s pitch is on Bloomin’ Brands (NASDAQ: BLMN), the operator of Outback Steakhouse, Aussie Grill, Carrabba’s Italian Grill, Bonefish Grill, and Fleming’s Prime Steakhouse & Wine Bar. Future pitches will not have a set schedule and be published when I have concluded research on an idea I genuinely believe have the opportunity to deliver outsized returns. These pitches are best viewed on computers, but a pdf file for mobile users can be found below the pitch. Please read my comments at the end of this publication for an update on my plans and goals.
The One-Page Pitch
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An Update
It’s been a minute. Well, more like four months. As previously disclosed, I could not make posts in the summer due to compliance at an internship. Since that wrapped up in early August I’ve begun research again and co-authored a piece with Paul Cerro of Cedar Grove Capital.
I’ve also begun extensive independent research again, but I took time to evaluate my goals. Before the summer, I wrote marathon pieces, some over 4,000 words long. However, My goal for this year of earning a full-time investment research role does not align with this. If I’m pitching a stock to a PM, I can’t just give a massive information dump, I need to clearly and concisely community the key opportunities and risks of a potential investment.
With this in mind, the format of my publications going forward will be different. I will no longer be publishing deep-dives outright. Instead, I will be publishing one-page pitches of companies I find interesting. This will give readers, many of which are professional investors, a quicker and clearer understanding of a thesis I’m sharing. To be clear, I would still love to have more in-depth conversations on my pitches and would highly appreciate people reaching out to me to do so if interested.
I also want this to be an opportunity to engage more with people who see my work. I am actively looking for constructive criticism and feedback on any work I produce so that I can improve further. I’ve already identified areas to work on but I’m sure there’s much more I haven’t noticed.
Keeping to my new “clear and concise” mantra so I’m wrapping up here. Thank you for your support and I look forward to hopefully talking with many of you in the future. Go Giants! (We have no shot at the Super Bowl but let me have hope)
Disclaimer: I hold no position in Bloomin’ Brands at the time of writing