Welcome to Conversion Confidential
Savings & loan (S&L) institutions. Mutual thrifts. Thrift conversions. Demutualizations. Community banks! What’s it all mean?!
Conversion Confidential is dedicated to the obscure, neglected, and sleepy world of thrift conversions and community banks. In it, I’ll provide analysis, commentary, and links to helpful resources to bring you up to speed on this relatively unknown source of investment opportunities.
Each weekend, Conversion Confidential will share a relevant topic and/or specific investment research related to thrift conversions. Most of the entries in the newsletter will be free. However, certain content (summaries of management conversations and valuation work) will be exclusive to paid subscribers.
For a sample of a full write-up, please visit my profile of Northeast Community Bancorp, a recently completed second step conversion.
About Me:
I consider myself a long-term, global generalist with a focus on asymmetry and absolute returns. For whatever reason, thrift conversions are an area I find to be a lot of fun so I’ve decided to dedicate a Substack focusing on this niche.
Largely self-taught investor who switched careers into investment management in 2016 after working in the defense sector for several years
5 years as a buyside analyst covering real estate, banks, and industrial companies at a value-oriented asset management firm with ~$20 billion in AUM
CFA Charterholder (don’t hold that against me)
Why subscribe?
If you enjoy learning and sharing about small-cap banks or are interested by the investment potential of thrift conversions, please join the community!
Disclaimer & Disclosure
Conversion Confidential is a publication by Shadowridge Value LLC for educational and entertainment purposes only. It is not investment advice. Shadowridge Value is a long only, value-oriented registered investment advisor (RIA) located in San Diego, California.
