B. Riley Financial

NASDAQ: RILY

Each archive contains the following sections: General, YouTube, Write-Ups, Tweets, Podcasts, and Miscellaneous.

As I come across a relevant piece, it will be added.

Happy perusing.

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Last Updated: 07/26/22

Ticker: RILY 0.00%↑

General

A year removed from the catastrophic upheaval in the markets that wiped out financial titans such as Bear Stearns and Lehman Bros., the dislocation of talent in the investment banking community still has yet to settle.

Indeed, a reshuffling of talent that began in earnest late last year has ramped up in recent months as the economy has shown signs of stabilizing. Many boutiques are now rushing to add talent while it is still available. Small and midsize investment banks headquartered in Los Angeles County added more than 100 local employees in 2009, according to an informal survey of just five by the Business Journal.

Among those bringing in new talent: Greif & Co., a boutique firm headquartered in downtown Los Angeles specializing in middle market mergers and acquisitions, is adding six people – a 50 percent increase in its work force ; Imperial Capital, a Century City firm, has already added 23 people; and

B. Riley & Co., a West L.A. investment bank with about 60 employees, is bringing in 10.

“We’re hiring in all segments of our business,” said B. Riley Chairman Bryant Riley. “There is a lot of opportunity for hiring quality people.”

Source: Boutique Firms Stock Up On Wall Street Refugees (September 7, 2009)

YouTube

Write-Ups

• Value Investor’s Club: August 2017 (Long), March 2019 (Short)

• Red Deer Investments: Wading In, Lemonade from Lemons, The Vertical Integration of Private Markets Investing, Wax On Wax Off

  B.Riley is a weird company and doesn’t fit into any clean bucket. The CEO admits this contributes to his perceived undervaluation of the stock. It’s an investment bank to small / medium sized companies, has a retail liquidation arm, owns a few rusty old no-growth principal investments that generate cash, and a smattering of apparel brands. Super odd. That said, it will likely print ~$15-20 / share in earnings this year on a ~$56 stock. While ’21 was an outlier, its normalized earnings may be in the range of ~$7-10 / share, with trough earnings around ~$3-5 / share. It pays a $4 / yr dividend, which is likely breakeven in an economic downturn, and obviously very well covered in a boom year. (source: Wading In)