isaac schwartz hidden in plain sight

7/22/2019 Isaac Schwartz Hidden in Plain Sight

1/28

?th nddunlSprodbvnlue odvestodb cidbress

Nprol 0, :6>0 Lns Qebns, DQ

Ho``ed od Vlnod Sobht

Osnnc Schwnrtz, Zijitto & Cimpndy

www.QnlueOdvestodbCidbress.cim


2/28

QNLUE ODQESPODB CIDBZESS :6>0

Osnnc Schwnrtz, Zijitto & Cimpndy N`vosirs LLC


3/28

@osclnomer

Phe Aorm os dit privoòdb odvestmedt n`voce thriubh thos mnteronl. Phos presedtntoid os privoè` air

odairmntoidnl purpise ns nd ollustrntoid ia the aorms odvestmedt pholisiphy nd` shnll dit je cidsoère`

odvestmedt n`voce ir n recimmed`ntoid ir silocotntoid ti juy ir sell ndy securotoes òscusse` hereod. Ns ia the

`nte ia thos presedtntoid the aorm cidtodues ti iwd the securotoes òscusse` hereod. Phese ipodoids nre dit

odtedè` ti je n airecnst ia auture evedts, n bunrndtee ia auture results, ir odvestmedt n`voce. Vnst perairmndce

os dit odòcntove ia auture results, nd` di represedtntoid ir wnrrndty, express ir omploe`, os mnè rebnròdb

auture perairmndce.

Zijitto & Cimpndy N`vosirs, LLC ir ots naaolontes mny edbnbe od securotoes trndsnctoids thnt nre odcidsostedt

woth thos cimmudocntoid nd` mny hnve lidb ir shirt pisotoids od such securotoes. Phe odairmntoid nd` ndyipodoids cidtnode` hereod nre ns ia the `nte ia thos mnteronl nd` the aorm ìes dit udèrtnge ndy ijlobntoid ti

up`nte them. Odairmntoid cidtnode` od thos presedtntoid hns jeed ijtnode` arim siurces whoch we jeloeve ti

je relonjle jut we ì dit mnge ndy represedtntoid ns ti ots nccurncy ir ots cimpletedess nd` ot shiul` dit je

reloe` id ns such.

Phos mnteronl ìes dit tnge odti ncciudt odòvoùnl cloedt corcumstndces nd` os dit odtedè` ns n

recimmed`ntoid ti ndy persid whi os dit n cloedt ia the aorm. Securotoes, aodndconl odstrumedts, priùcts, irstrnteboes medtoide` od thos mnteronl mny dit je suotnjle air nll odvestirs. Zijitto & Cimpndy N`vosirs, LLC

ìes dit privoè tnx n`voce. Odvestirs shiul` seeg tnx n`voce jnse` id theor pnrtoculnr corcumstndces arim nd

odèpedèdt tnx n`vosir.

:


4/28

BEM OD GN[NGHSPND

HNL_G SNQODBS JNDG

QO C :6>3 ZE@UX


5/28

Gnznghstnds Renlth

0Siurce; US EON, Zijitto & Ci n`kustmedts, Rirl` Jndg, Jliimjerb

6

56

>66

>56

:66

6

066

866

>,:66

>,166

>??: >??0 >??1 >??8 :666 :66: :660 :661 :668 :6>6 :6>:

US@ JolloidPhiusnd` Jnrrels / @ny

iol pri`uctoid

b`p


6/28

6

566

>,666

>,566

:,666

:,566

:66: :660 :661 :668 :6>6 :6>: :6>0

Odèx Vroce

Gnzngh Mnod Equoty Odèx

5

Up :,566%

stoll, up jy ?66% iver n ìzed yenrs

Siurce; Jliimjerb

@iwd 26%


7/281Siurce; Dntoidnl Jndg ia Gnznghstnd

Gnzngh Jndgodb System

6

0

8

>:

>??8 :666 :66: :660 :661 :668 :6>6 :6>: :6>0

G[P trolloid

linds

`episots


8/282

Gnzngimmertsjndg OVI

VJ 5.3

Hnlyg Jndg OVI

VJ 1.:

Juyer; Giigmod Jndg

Seller; CedterCre`ot

VJ 3.>

Juyer; UdoCre`ot

Seller; NPA

VJ 3.5

Juyer; GDB

Seller; NPA

VJ >.6

Juyer; GGJ

Seller; JPN

VJ 6.5 Juyer; HnlygSeller; HSJC GnzVJ >.6

Siurce; cimpndy press relenses, Zijitto & Ci. n`kustmedts

Pomelode ia Gnzngh Jndgs


9/288

6

>6

:6

36

:662 :668 :66? :6>6 :6>> :6>: :6>3 :6>0

US@

Vroce id 3/3>/>0 $ 8.36

Shnres :28 VE 0.?Mnrget Cnp :,362 VJ >.6

_oel` 3.5%

Pitnl Nssets >1,:1> ZIE :6.2%

Equoty :,:?5 ZIN :.?%

Det Odcime (PPM) 025

od US@ molloid

Siurce; Jliimjerb

Hnlyg Snvodbs Jndg (LSE; HSJG)

proce

jiig

HnlygsSticg Vroce vs. Jiig Qnlue Ver Shnre


10/28?Siurce; Odterdntoidnl Midetnry Aud`

Ecidimoc Briwth nd` Jndgodb Vedetrntoid


11/28

ID PHE BZIUD@ ALIIZIA BLIJNL BZIRPH


12/28

Odvestmedt Hobhlobhts

@evelipe`-mnrget cimpndy sellodb ti emerbodb mnrgets

Anmoly-iwde`woth hostiry ia smnrt cnpotnl nllicntoid

Blijnl lenèr od nd odùstry woth bii` ecidimocs, briwth

Iverliige`, od iut-ia-anvirmnrgets, nt òsciudt ti peers

Re thodg the sticg cnd ìujle od aove yenrs

>>


13/28

PnrgettPhe Ultomnte Aliirodb Experoedce

>:

Pocger PGPP

Exchndbe Euridext-Vnros

Vroce (nt 3/3>/>0) :5.22

Shnres iut 10

Mnrget Cnp >,10>

EQ :,>0>

Zevedues :,5>1

Det Odcime >66VE >1

ZICE >8% Pnrgett Shnrehil`ers

@ecidodcg anmoly 56%

GGZ ::%

Mndnbemedt :%

Strnteboc Shnrehil`ers 20%

Alint :1%

od EUZ molloid

Siurce; Jliimjerb


14/28

PnrgettsShnre sodce Divemjer :6>3 OVI

>3Siurce; JobChnrts.cim


15/28

Arim Aliir ti Shododb Aliir

>0Siurce; Pnrgett :6>3 results presedtntoid


16/28

Ove Bit Aliirodb Udèr My Sgod

Blijnlly cidsilo`nte`

Sebmedtntoid thriubh culturnl, clomntoc òaaeredces

Liw proce elnstocoty

@eceddonl purchnse

Cidtrnctirs mu``y proces

Sobdoaocndt èmnd` od Zusson nd` emerbodb mnrgets

>5


17/28

Aliirs-eye Qoew

>1

od US@, ttm Mnrget Cnp EQ* Zevedues EJOP@N Det Odcime EQ/EJOP@N VE

Mihnwg ?,2?1 >:,626 2,18? >,630 023 >>.2 :6.2

Airji :,0>> :,>?? >,352 >?5 >:5 >>.3 >?.3

K Hnlsten` >,6>? ?11 31: 2: 5> >3.5 :6.6

Nrmstridb :,82: 3,8:3 :,2:6 32> >6> >6.3 :8.0

Odterance >,:?? >,:32 ?16 >:> 08 >6.: :1.?

Nvernbe >>.0 :3.>

Pnrgett :,>85 :,?53 3,018 0:2 >38 1.? >5.8

@osciudt (3?.3%) (3>.5%)

Siurce; Jliimjerb, Zijitto & Ci. n`kustmedts

*Edterprose vnlue odclu`es det pedsoid lonjolotoes


18/28

PnrgettsViweraul Visotoid od Zusson

Pwi-thor`s shnre od mist pipulnr cntebiry, vodyl

Vroce lenèr

Jnrroers ti edtry

Rirl`s lnrbest vodyl anctiry (8x clisest cimpetotir)

@ecnè ti juol` òstrojutoid nd` jrnd`

>2

85% himeiwdershop

woth twi-thor`s od deeìa sujstndtonl redivntoid

Siurce; Pnrgett mndnbemedt cimmedts


19/28

Phe Bii` Loae

>8


20/28


21/28

Dirth Nmerocn; Oa Phese Aliirs Ciul` Pnlg

Mistly reso`edtonl udtol :6>:

Pnd`us

Cillods & Nogmnd von Ingtree Cnpotnl

Aove yenrs ia mnrget shnre bnods

Expisure ti cimmerconl

Sobdoaocndt scnle nd` criss-sellodb

:6


22/28

Spirts Surances nd` Ither Vrispects

Spirts; hobhly cidsilo`nte`

56% mnrget shnre od certnod pri`ucts

Pwi recedt ncquosotoids jy Jergshore Hnthnwny Shnw

Zejiud` arim recessoidnry ud`erodvestmedt

Nson nd` Lntod Nmerocn

Cedtrnl Euripe

:>Siurce; Pnrgett prispectus


23/28

Buoè ti Dnysnyodb

Zusson/COS os n triujle` reboid èservodb n liw multople

USN cimmerconl recivery òstndt

Spirts os n jn` jusodesskust liig nt the lnst ècnè

::


24/28

Iur Qoew

Zussond briwth cnd cidtodue

Scnle, jrndòdb juolt iver n ècnè

Lits ia il` hiuses dee` reaurjoshmedt

N did-òscretoidnry purchnse

Dirth Nmerocn

Ippirtudostoc ncquosotoid

Cimmerconl mnrget hns yet ti reciver

Omprivemedt od Spirts Surances

:3


25/28

PnrgettsVitedtonl

Multople pnths ti 56% EJOP@N briwth od aove yenrs

Sustnodnjle vilume, proce odcrenses od Zusson

Mnrbod omprivemedt, odùstry recivery od US

Upsoè iptoidnloty thriubh spirts, Euripe, Nson

Anmoly ò` dit sell od OVI, jiubht n`òtoidnl ? mol wirth

Sells nt 35-06% òsciudt ti peers

:0Siurce; Zijitto & Ci. prikectoids, Pnrgett prispectus


26/28

Njiut Zijitto & Cimpndy N`vosirs, LLC

Estnjloshe` od >?83 jy Zijert Zijitto

Re mndnbe mire thnd $266 molloid ia equotoes od

sepnrnte ncciudts nd` pnrtdershops id jehnla ia

odstotutoids nd` od`ovo`unls

Re nre lidb-term odvestirs od jusodesses nd` nre

cidstotutoidnlly ncclomntoze` ti jeodb cidtrnrond

Re nre jnse` od Dew _irg nd` trnvel extedsovely,

especonlly thriubhiut the Dirtherd Hemosphere

:5


27/28

@osclisure; Iwdershop Odairmntoid

@osclisuresHnlyg Snvodbs Jndg

(HSJG LO)

Pnrgett SN

(PGPP AV)

Osnnc Schwnrtz nd`/ir memjers ia hos hiusehil` hnve

n aodndconl odterest od the ailliwodb securotoes_es _es

Zijitto ir ots naaolontes jedeaoconlly iwd cimmid

equoty ia the ailliwodb securotoes _es _es

Zijitto ir ots naaolontes jedeaoconlly iwd >% ir mire

ia ndy clnss ia cimmid equoty ia the ailliwodb

securotoes

Di Di

Osnnc Schwnrtz serves ns n @orectir ir Iaaocer ir

N`vosiry Jinr` Memjer ia the ailliwodb securotoes Di Di

Cimpndoes hnve jeed chised silely ns n cnse stu`y ti ollustrnte the odvestmedt pricess nd` npprinch ia Zijitto &

Cimpndy N`vosirs, LLC. Phos odairmntoid shiul` dit je odterprete` ns n perairmndce recir` ir ns nd od`ocntoid

ia auture perairmndce results.

:1


28/28

Zijitto & Cimpndy N`vosirs, LLC

1 Enst 03r`Street

:3r`AliirDew _irg, D_ >66>2

Air mire odai, cidtnct Susnd Gnplnd

nt +>-101-00:-12:?

sgnplndFrijitto.cim

www.rijitto.cim
mailto:[email protected]://www.robotti.com/http://www.robotti.com/mailto:[email protected]

isaac schwartz hidden in plain sight

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