What exactly is a Top Idea?

High-conviction long/short ideas with asymmetric risk/reward. More specifically, we look for:

Context: Why does this opportunity exist? Why is the stock under/overpriced?

Scope: How big is the opportunity? How big is the downside risk?

Catalyst: What might drive the change in investor perception/share price? 

Timeframe: Is this a multi-year play, or a short-term opportunity?