The End of the Beginning

Introducing what's next for Cedar Grove Capital Management

Hey everyone,

I hope your year is going well so far and that the Fed not lowering rates just yet hasn’t blown up your portfolios.

Some changes are happening at Cedar Grove Capital and if there was any post that I’d ask you to read, it would be this one.

I started writing at the beginning of 2021 and under Cedar Grove Capital starting in 2022. As of May 5th, I have written 138 articles that have been viewed over 149k times and covered 33 companies.

I’m also happy to share that based on my views and research, I’ve been able to be featured in outlets like Reuters and The Atlantic just purely from doing what I love.

It’s been a pleasure writing and sharing my thoughts and ideas with you all when it comes to the US equity markets. Your support over the years has allowed this newsletter to grow to over 1,500, in 42 states across 71 countries including over 190 institutional banks, funds, and research firms around the globe.

While I might not bat a 1,000, I have shared some research that has generated stellar returns for those who decided to go along for the ride.

Can look at my table of contents to go to each individual name from above with a link to the research.

However, I recently turned 30 last month and after dedicating a lot of my time to helping manage my family’s health issues last year, I am ready to make a change to the newsletter.

For those of you who don’t know, investing is not my full-time job. I currently work in tech here in NYC and though I started my career on Wall Street as an investment banker at Merrill Lynch, I share my thoughts on the market and stocks on the side because I love doing it.

I pride myself on authenticity and transparency so you can creep on my LinkedIn here if you’re curious about my background and qualifications.

I spend so much time outside of my day job researching and investing because that’s what I love doing. I’m also naturally competitive, so investing in the market fits well with my determination to “best” the indices.

I always dreamed about turning this newsletter into a research platform that could propel me back into the world of finance on my own terms. I attempted to do this last year but had to put it on hold after both my parents were battling cancer.

Recently, I’ve been able to speak to many other successful writer friends/investors, which is why I’ve decided to “make a change.”

I’m excited to announce that I’m turning Cedar Grove Capital Management into a paid research newsletter service going forward.

Before anyone starts panicking about this, please read the next little bit to understand what I mean, and if you do, you’ll find a special offer.

I’ve been told that the key to launching a paid service is setting expectations. That way you know exactly what you’re getting when you sign up. You already know about my work, so that’s taken care of. If you need a refresher, you can look below for my table of contents outlining the articles I’ve written and the companies I’ve covered.

Going forward, I will be releasing a minimum of two articles on the 2nd and 4th Wednesday of every month. Articles will cover a wide range of topics, as they have historically, and will be geared towards investment-driven research and not just opinion pieces, industry deep-dives, etc., which is why I say 2x a month at minimum.

To better understand the offering, you can refer to the table below.

Now, since I had to put pause on the paid side of this newsletter in mid-2023, I want to give everyone the same opportunity that I offered this time last year.

That deal was $16/month or $120/year. For only one week (ending May 11th), I will be extending this offer and making it a 1-year subscription — meaning this rate will be your rate until the next renewal period.

To take advantage, you can click the button below.

For students, as I was a broke student once upon a time, I have included an offer below for $5/month or $50/year as long as you use an email ending in “.edu”. For this students-only offer, you’ll be grandfathered in at this price (1st is monthly discount offer, 2nd is annual discount offer).

Once the week is up, I will be starting fresh at the new pricing, which will be $35/month or $250/year. Simple math makes the annual option 40% cheaper than paying monthly.

I wanted to make sure that I could cultivate LT engagement from my readers and provide the best value and price associated with that. For the monthly people, I understand that you may not like all of my ideas, so there may not be a reason to stick around for a full year. This gives you the ability to decide for yourself which offering you’d like to be in.

Additionally, if you refer friends, you can also win “free” months toward your subscription.

• 3 referrals get you 1 month free. ($35 value)

• 5 referrals get you 3 months free. ($105 value)

• 15 referrals get you 1 year free. ($250 value)

Starting fresh will mean starting the portfolio fresh, which all paid subs will have access to.

I’m very excited for this next stage of not just the newsletter, but also my investing career. I thank you all for the support thus far and hope you continue to come along for the ride.

The first paid post will be my update on the FTC suit against Tapestry (TPR) and Capri (CPRI) and will be released on May 8th.

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Until next time,

Paul Cerro

CIO | Cedar Grove Capital Capital Management

Personal Twitter: @paulcerro

Fund Twitter: @cedargrovecm

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Disclosure": All information provided herein by Cedar Grove Capital Management, LLC (“Cedar Grove Capital”) is for informational purposes only and does not constitute investment advice or an offer or solicitation to buy or sell an interest in a private fund or any other security. An offer or solicitation of an investment in a private fund will only be made to accredited investors pursuant to a private placement memorandum and associated documents.

Cedar Grove Capital may change its views about or its investment positions in any of the securities mentioned in this document at any time, for any reason or no reason. Cedar Grove Capital may buy, sell, or otherwise change the form or substance of any of its investments. Cedar Grove Capital disclaims any obligation to notify the market of any such changes.

The enclosed material is confidential and not to be reproduced or redistributed in whole or in part without the prior written consent of Cedar Grove Capital. The information in this material is only current as of the date indicated and may be superseded by subsequent market events or for other reasons. Statements concerning financial market trends are based on current market conditions, which will fluctuate. Any statements of opinion constitute only current opinions of Cedar Grove Capital which are subject to change and which Cedar Grove Capital does not undertake to update. Due to, among other things, the volatile nature of the markets, and an investment in the fund/partnership may only be suitable for certain investors. Parties should independently investigate any investment strategy or manager, and should consult with qualified investment, legal and tax professionals before making any investment.