ROUMELL ASSET MANAGEMENT, LLC

The advisory business focuses on providing investment advice and management services. The business offers a range of services, including investment discretion, voting client securities, financial information, and brokerage practices. They also have a code of ethics and participate in client transactions and personal trading. The business emphasizes the importance of building strong relationships within various industries. These relationships provide unique insights and perspectives that are valuable in developing investment strategies. They use these relationships to find new ideas, discuss internally generated ideas, and determine when to avoid certain investments.

The investment strategies focus on finding undervalued opportunities with a detective-like approach, seeking out small, undiscovered companies before investor crowds arrive. The focus is on understanding the company's narrative, including its challenges and potential for success, and assessing the quality of its management team. The strategies also emphasize a conservative approach, investing in companies with strong balance sheets and substantial cash positions. The focus is on minimizing risk of permanent capital loss by investing in companies with valuable assets that are not fully appreciated by other investors. The firm believes that selecting specific securities at specific prices will be the most effective way to manage risk while capturing attractive returns over time.

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