TETRA Technologies: Misunderstood, With Multiple Shots on Goal

Jim Roumell of Roumell Asset Management presented his in-depth investment thesis on TETRA Technologies (US: TTI) at Best Ideas 2021.

Thesis summary, provided by Jim:

TTI provides a vehicle to own a strong, well-performing (non-energy) industrial fluids business, purchased cheaply, as a result of it being held inside a deeply out-of-favor energy services company. Additionally, the company’s energy-related services businesses are gaining market share and performing exceptionally well during a deep energy downturn. Finally, we rate management as blue-chip. Brady Murphy, CEO, spent 26 years at Haliburton, HAL, with his last position as Senior Vice President of Global Business Development and Marketing, and was a contender to become HAL’s CEO. Elijio Serano, CFO, spent 17 years at Schlumberger, SLB, and is a highly-regarded industry executive.

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About the instructor:

Jim Roumell entered the securities industry in 1986. Before founding the firm in 1998, he was a Registered Principal at Raymond James Financial Services, Inc. Mr. Roumell is a frequent contributor to MOI Global and has been featured in such publications as Barron’s, Kiplinger’s, Value Investor Insight, Financial Planning Magazine, and The Washington Post. He is listed and quoted in “The Art of Value Investing: How the World’s Best Investors Beat the Market.” Mr. Roumell was selected to participate in, and won, two consecutive Wall Street Journal stock picking contests in 2001 and 2002. He is a Board Member and serves on the Investment Committee of Amalgamated Casualty Insurance Company. Mr. Roumell is a graduate of Wayne State University in Detroit, Michigan. In the trailing five-year period, the Roumell Opportunistic Value Fund, RAMSX, is in the top 1% of its Lipper category, the top 8% in the trailing three-year period and the top 6% in the trailing one-year period. There are over 500 funds in Lipper’s Mixed-Asset Target Allocation Moderate category.

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