Structure
Common stock
NR
Nick Randall
Equity research and real estate finance — USD cum laude, managing a $300K family portfolio at a 30% CAGR.
Academic Experience
University of San Diego
Derivatives — CDS Pricing
Built a CDS pricing model to identify arbitrage across credit markets; modeled interest rate swap structures and evaluated futures/forwards hedging for risk-adjusted exposure.
CRE Financing — Waterfalls
Built real estate pro formas modeling cash flows across debt and equity tranches; structured distribution waterfalls to analyze risk-adjusted IRRs across GP, LP, and debt positions.
CRE Valuation
Applied Income Capitalization, Sales Comparison, and Cost Approach methods, reconciling all three into credible value conclusions aligned with industry standards.
Professional Experience
Evolution Global Advisors
- Researched global small-cap equities, focused on revenue sustainability and valuation
- Identified growth drivers and catalysts with potential to trigger a market re-rate
- Highest-conviction picks outperformed benchmark by 10%+ over the internship
Flextronics
- Situation — placeholder pending details
- Task / Action — placeholder pending details
- Result — placeholder pending details
Investment Ideology
I'm a value investor seeking contrarian positions — companies that have fallen out of favor with the market but still have an attractive long-term fundamental setup and a high-quality underlying business.
The key driver of my success in markets so far has been getting in on Meta in 2022, following the significant de-rating from their Metaverse capital expenditures, and buying Google in early 2025 when Search disruption fears and antitrust regulation pushed it into a valuation range not typically seen for a company of that quality.
While the majority of my investments are pure equity plays, when the setup looks right I opt for LEAPS, which provide substantial leverage and torque to what would typically be a smaller position.
Trade Log — Selected Positions
META Q4 2022
OPEN
Entry
$165
Current Mark
$662
Return
+301%
Why I got inThe market was pricing Meta like the core business was dying — Reels cannibalization, Apple ATT, and metaverse capex all hitting at once. The family of apps was still printing cash and the stock traded at a single-digit multiple on depressed earnings. Classic broken-sentiment re-rate setup.
Where it standsStill holding. The position is up over 300% from a $165 cost basis with the stock near $662.
GOOGL Q2 2025
OPEN
Structure
LEAPS
Entry (contract)
$5,255
Current Mark
$22,900
Return
+336%
Why I got inGoogle fell out of favor in early 2025 — Search disruption fears and antitrust regulation pushed the stock into a valuation range not typically seen for a company of that quality. The fundamentals never broke; the sentiment did. I expressed the view through LEAPS for torque on the re-rate.
Where it standsThe contract has more than quadrupled from a $5,255 cost basis to a $22,900 mark as the disruption narrative faded and the multiple recovered.
META 2025–2026
OPEN
Structure
Calls + CSPs
Entry (stock basis)
~$520
Current Mark
$662
Return
+27%
Why I got inBack in a name I know well. The position is a combination of calls and cash-secured puts built around a ~$520 stock-equivalent entry — selling puts at prices I already wanted to own the stock, and using calls for upside participation as the AI spend narrative worked itself out.
Where it standsRoughly +27% against the stock basis with the shares near $662.
EWY Q1 2026
OPEN
Structure
Long calls
Avg Cost (contract)
$3,300
Current Mark
$8,250
Return
+150%
Why I got inKorea re-rate thesis — corporate governance reform and the value-up program working against a market trading at a discount that doesn't survive the reforms. Calls on EWY to express the upside with defined risk.
Where it standsUp 150% from a $3,300 average cost to an $8,250 mark.