Director | Exposing Creative Accounting, Bucephalus Research Partnership

Robert Medd

Director | Exposing Creative Accounting

Exposing Creative Accounting

Bucephalus Research Partnership

Bucephalus Research Partnership Limited. Exposing Creative Accounting.

At the Bucephalus Research Partnership (BRP) we analyse financial statements using our accountant's practical experience and our own quantitative algorithms for corporate governance, accounting risk and peer performance.

Our thematic research refines our unique algorithms while our single stock research focuses on examples where we discover a significant gap between published accounts and business reality.

​Bucephalus Research Partnership:
- Is an independent fee-based research service
- Does not take proprietary positions, long or short
- Does not solicit business or fees from the corporates we review

Equity Bottom-Up

Investors seem to be buying into the Lenovo recovery story. Every quarter they manage to produce some growth and talk about a future turnaround. A close look at their accounts reveals that all is not well. Lenovo will be raising capital again next year and the risk of collapse continues to rise.

Investors seem to be buying into the Lenovo recovery story. Every quarter they manage to produce some growth and talk about a future turnaround. A close look at their accounts reveals that all is not well. Lenovo will be raising capital again next year and the risk of collapse continues to rise.

Forensic Accounting

Trumps tariffs
Trump’s round-three tariffs target tech. Specifically, Desktops/servers (8471), PCBs, computer parts (8473) and Network equipment (8517), see <a href="https://ustr.gov/issue-areas/enforcement/section-301-investigations/search" target="_blank">United States Trade Representitive - Section 301</a>.
It will not matter that much to many of the American tech companies - increasing the price of a PCB should not make much difference to the sales price of an iPhone. Most of the final sales price comes from design and software etc., which takes place outside China...

Trumps tariffs
Trump’s round-three tariffs target tech. Specifically, Desktops/servers (8471), PCBs, computer parts (8473) and Network equipment (8517), see United States Trade Representitive - Section 301.
It will not matter that much to many of the American tech companies - increasing the price of a PCB should not make much difference to the sales price of an iPhone. Most of the final sales price comes from design and software etc., which takes place outside China...

Sell Lenovo: Round Three Tariffs Will Hurt. Rising Risk of Capital Raising

United States

Dell Technologies Inc Class V is a tracking stock representing the VMWare Inc. business of Dell Technologies Inc.  VMWare provides virtualization solutions from the desktop to the data center.

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Dell Technologies Class V (DVMT US)

Lenovo: Cashless Revenue, Rising Risks

Investors seem to be buying into the Lenovo recovery story. Every quarter they manage to produce some growth and talk about a future turnaround. A...

Bucephalus Research Partnership

Sell Lenovo: Round Three Tariffs Will Hurt. Rising Risk of Capital Raising

Trumps tariffs Trump’s round-three tariffs target tech. Specifically, Desktops/servers (8471), PCBs, computer parts (8473) and Network equipment...

Bucephalus Research Partnership

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