About
Grana Research was created with a simple philosophy:
Best equity research business is one that also manages capital.
This project is built on years of investment experience within a multi-strategy asset management firm with over $100 million in assets under management. Grana Research’s ideas are the product of a rigorous bottom-up selection process focused on GARP, Deep Value, and Special Situations.
Howard Marks once said that “all intelligent investing is value investing.” At the core of Grana Research’s process lies a value-oriented investment approach. That said, we firmly believe that value investing is not about buying the lowest-multiple stocks, but rather about acquiring more than you are paying for.
Most of the ideas featured in Grana Research focus on small- and mid-cap companies. Every piece of research is written primarily for internal use — to support sound investment decisions. That sets a high bar for depth and diligence. If this approach resonates with you, you’re in the right place.
Our long-term goal is to build the best investment research service — and to grow a strong community around it.
Thank you for stopping by. Welcome to Grana Research.
Navigation
The structure of Grana Research is built around an investment idea funnel that reflects our research and portfolio construction process. It all begins with a broad set of ideas and narrows down to deep fundamental research and actual portfolio positions. Below is a brief overview of the main sections:
Ideas Hub
This is where we collect top-of-the-funnel ideas — companies that initially look promising based on screening results, fund letters, sell-side rundowns, FinTwit chatter, or our own observations. These are early-stage notes, not always finalized, but potentially compelling. It’s an ideal section for those who want to stay close to the continuous flow of fresh ideas.
Deep Dives
In-depth, fundamental research on companies that have either been added to our portfolio or are on our watchlist. This is institutional-grade content, created to support real investment decisions. Each research includes:
Analysis of the business model and competitive positioning;
Assessment of growth potential and key risks;
Financial analysis and fair value estimate;
A financial model that is updated quarterly.
Grana Insights
Grana Insights sits between raw idea generation and company-specific deep dives. Here we explore industries, structural shifts, capital cycles, competitive dynamics, and emerging narratives that may shape future opportunity sets. These pieces often serve as the intellectual groundwork for future portfolio positions or deeper company-level research.
Content in this section may include:
Thematic and sector-level research (e.g., digital advertising, luxury recovery, semiconductor cycles);
Analysis of structural trends and capital allocation patterns;
Comparative overviews of multiple companies within a single theme;
Short-form commentary on companies that warrant attention but are not yet part of a full Deep Dive;
Strategic notes connecting macro developments to bottom-up opportunity.
Portfolio (coming soon)
This section will feature details about our investment portfolio, built from the highest-conviction ideas. We’ll share current positions, position sizes, portfolio construction logic, and planned changes over time.
Chat (coming soon)
Community is a core part of Grana Research’s long-term vision. We’re planning to launch a subscriber chat for real-time trade updates, live discussions of ideas, and sharing insights.
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Disclaimer
The information provided by Grana Research is for informational and educational purposes only. It does not constitute investment advice, an offer to sell, or a solicitation of an offer to buy any securities or financial instruments.
All materials, including research notes, thematic commentary, portfolio updates, and financial models, reflect opinions at the time of publication and are subject to change without notice. No representation or warranty is made as to the accuracy, completeness, or timeliness of the information presented. While sources believed to be reliable may be used, their accuracy cannot be guaranteed.
Nothing published by Grana Research should be construed as personalized investment advice. The content does not take into account any individual’s financial situation, objectives, or risk tolerance. Readers should conduct their own due diligence and consult with a qualified financial advisor before making any investment decisions.
The author and affiliated entities may hold positions in securities discussed and may buy or sell such securities without further notice.
By accessing and reading content from Grana Research, you acknowledge and agree to this disclaimer.
