Equity Research
MORAM Capital – Equity Research & Investment Theses for Small & Mid-Cap Companies
Equity Research and Investment Theses are the core of MORAM Capital. Our approach is top-down, identifying sectors and industries that can benefit from or be clearly harmed by the economic cycle, with a time horizon of 6 to 30 months. We tend to cover sectors where we have greater expertise, but once a new sector is identified, we either hire or internally acquire knowledge of the new industry in order to analyse it and develop deep equity reports and investment theses on the actionable Long/Short cases we identify within it. This process – from sector identification to published thesis – is rigorous and deliberate. We do not publish until we have genuine conviction.
MORAM Capital – Universe of coverage
Active Coverage & Ongoing Analysis
Once the initial analysis is published, we maintain coverage for the next 12 to 24 months or indefinitely — depending on how attractive it remains over time — publishing earnings analyses, event analyses, and strategy updates, always in the most objective manner possible. We offer our opinion on potential strategies to follow with the company, the target price, and a downloadable financial model that we use to reach the valuation. Beyond the numbers, we focus on what to expect from the company and the industry in the coming months — connecting fundamental developments to investment implications in a way that is directly actionable for our readers.
Ongoing earnings reviews, corporate event analyses and operational updates are published separately under Company Notes — where we track the evolution of each thesis as new data becomes available.
Why MORAM Capital is focused on Small & Mid-Cap Equities?
Our preference is for small and mid-cap companies, as we believe that the risk-reward balance is more favourable and they tend to be less covered by analysts. In a segment where institutional research is scarce and market inefficiencies persist, independent and rigorous analysis has the greatest potential to generate alpha. We prioritise quality over quantity. Our team actively covers around 35 companies across the US, UK, Europe and Australia — maintaining the depth of coverage that this type of analysis demands.
Independent, Objective & Unconflicted
MORAM Capital operates with full editorial independence. We have no investment banking relationships, no corporate mandates, and no obligation to align with consensus. Every investment thesis, target price and strategy recommendation we publish reflects our own analytical work — nothing else. That independence is not incidental to what we do. It is the foundation of it.
