About
Our background is in law enforcement and investigations, where incomplete information and bad assumptions can have real-world consequences. That experience shaped a mentality of structured process, documentation, and adversarial thinking that now underpins our research. We combine traditional fundamental analysis with open-source intelligence techniques, forensic-style review of disclosures, and targeted deep dives into specific line items and exposures that most shops skim or ignore. We combine these factors to publish both long-bias and short-bias reports depending on what our evidence shows. When we publish on a name, readers can see the chain of reasoning from raw source to thesis.
First Strike is designed for sophisticated traders, funds, and corporate IR teams who care less about “content” and more about decision-grade work. Coverage is intentionally concentrated: a small set of names under active review rather than a sprawling universe of names. For each, we focus on mispricing, catalysts, and risk—where the consensus is likely wrong, how that gap can close, and what could break the thesis. We do not take issuer payments, do not provide sponsored coverage, and have no investment banking conflicts. The result is research that aims to be clear, sharp, and accountable to readers, not financial institutions.
Our Mission
We believe capital markets function best when investors have access to rigorous, unconflicted research. Too often, the information asymmetry between corporate insiders and public shareholders tilts the playing field against the people whose capital is actually at risk. We work to close that gap.
Our research is driven by data, and evidence, never dogma. We have no permanent bias toward bullish or bearish conclusions. When our analysis reveals undervalued opportunities, we say so. When it uncovers governance failures, accounting irregularities, or business models that don't withstand scrutiny, we say that too. Our thesis follows the facts, and the facts alone.
We employ the investigative techniques that most Wall Street research ignores: deep dives into court records, regulatory filings, and corporate registries; field research and direct observation; conversations with employees, customers, suppliers, and competitors; and forensic analysis of financial statements that goes beyond the headline numbers. We do the work that others won't, because we answer only to our readers — not to investment banking clients, corporate relationships, or assets under management.
First Strike Research is for investors who think for themselves and want primary-source analysis to inform their own decisions. We don't tell you what to do. We show you what we found.