Hedge Funds case studies, worked step by step
- Cases
- 100
- Traced to a firm
- 31
- Topics
- 13
- Hard
- 30
Topic
All topicsCredit, distressed and capital structure7Earnings, models and KPIs8Event-driven and merger arbitrage7Fund economics, NAV and LP decisions8Global macro trades7Long pitches and valuation14Manager evaluation and attribution7Pairs and relative value5Portfolio construction and sizing7Risk limits and drawdowns7Short selling6Systematic research and data11Volatility, options and convertibles6
Showing 11–14 of 14 · filtered from 100Clear filters
- 074Kalvora Cement has 20 mtpa of capacity at 70% utilisation, EBITDA of Rs 900 a tonne and an EV of Rs 9,000 crore. Management plans a 5 mtpa expansion costing Rs 6,000 crore. The stock looks cheap against replacement cost of Rs 1,200 crore per mtpa. Is it, and does the expansion create value?Long-short equity fundsMulti-manager platforms
- 081Tessaro Hospitals runs 3,000 beds at 62% occupancy and earns an average of Rs 50,000 per occupied bed-day. Your structured idea is that occupancy rises to 72% in two years as new wings mature, with 50% of incremental revenue flowing to EBITDA. Set out the thesis, the catalyst, the numbers and the main risk.Point72London · 2026
- 093Dinsha Jewellers grows revenue 20% a year from Rs 5,000 crore at an 8% EBIT margin, but holds 200 days of inventory, so each rupee of new revenue ties up working capital. Is the growth creating value? Compare the ROIC on incremental capital with a 12% cost of capital and a 25% tax rate, measuring inventory days on revenue.Long-short equity fundsMulti-manager platforms
- 099Varuni Retail earns a 25% ROIC, reinvests 60% of earnings and trades at 40x. Ostrel Metals earns an 8% ROIC, pays out everything and trades at 8x. Over ten years both multiples converge to 15x. Which stock returns more, and how sensitive is the answer to the exit multiple?Coatue ManagementNew York · 2023
Company names and figures are illustrative.