One business that I’ve been reviewing prior year earnings transcripts to better understand management’s thought process for various acquisitions had a simple but powerful comment when an investor asked if they can do more to get the word out on the company and illustrate how much progress it has made. The CEO’s response is longer than this, but I excerpted one specific part:
…at the end of the day, [I’ve] been around [companies] that are not great stories, but really high market caps. And [I’ve] been around [companies] that kept the nose down and just really worked hard, and I usually would always want to own the ones that they keep their nose down and just work hard, and that’s kind of where we are. But I appreciate the point.
RILY Q4-2019 Earnings Transcript
I’m always looking for companies that keep their nose down and let earnings drive the story.