Case Studies


  • The Trouble With China By: David Barrosse, CEO September 23, 2021 — A recent book, The Long Game: China’s Grand Strategy to Displace American Order, makes the compelling case that the Chinese Communist Party (CCP) has been following a systematic plan to exert its influence over the region and the world since the end of the Cold War. The […]Learn More
  • A New Cold War? The Deteriorating Relationship Between China and The US July 8, 2021 — Our job as investment analysts is, by necessity, to attempt to look over the horizon. But as Yogi Berra famously said, “It’s tough to make predictions, especially about the future.” A necessary device for the adept analyst is ascertaining where there might be blind spots in consensus investor views. Though most […]Learn More
  • Charts of the Month: Cruises, Climate Change, and Credit Servicers Capstone’s Charts of the Month highlight regulatory, legislative, and policy-driven developments that investors should be paying attention to. All graphics were recently published in Capstone research. Learn More
  • Puerto Rico’s Fiscal Woes and Financial Restructuring Our Call: Capstone first wrote in September 2013 that the Commonwealth of Puerto Rico faced significant financial risks given its dependence on federal funding to help finance its operations. In subsequent notes, we highlighted additional risks, including Puerto Rico’s propensity to overspend budgets and the sheer complexity of its capital structure. Our coverage led us […]Learn More
  • Public Funding for Pre-K and its Risks and Opportunities in a For-Profit Provider’s Business Model The Request: Capstone advised a client on the potential acquisition of a for-profit early childhood education provider. Specifically, we evaluated the key policy-driven risks and opportunities arising from public funding for pre-K programs. Our diligence focused on both federal and a selection of states’ policies. We also provided the client with a scenario analysis based […]Learn More