Structure
Common stock
NR
Nick Randall
Finance and Real Estate cum laude graduate from the University of San Diego. I've managed a personal portfolio with 30% annualized returns over 5 years.
nicholaslrandall@gmail.com
Austin, TX
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
- Flex's legal team was bottlenecked on contract negotiations and client onboarding, with redlining done manually
- Improved the legal workflow using AI, focused on contract redlining and better tool usage
- Streamlined contract negotiations and onboarding, cutting friction in the redlining process
Investment Ideology
I'm a value investor seeking contrarian positions. I look for 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
Blended Entry
~$145
Current Mark
$650.00
Return
+348%
Why I got inThe market had written off Meta over the metaverse spend, and the multiple compressed to single digits on depressed earnings. But the core apps were still throwing off huge cash. When a high-quality business gets priced like it's broken and the fundamentals say otherwise, that's the setup I want.
Where it standsStill holding. Two main buys, July 2022 around $166 and October 2022 around $125, for a blended basis near $145. Up roughly 348% with the stock at $650.00.
GOOGL Q2 2025
OPEN
Structure
LEAPS
Entry (contract)
$5,255
Current Mark
$18,525
Return
+253%
Why I got inGoogle fell out of favor in early 2025. Search disruption fears and antitrust regulation pushed the stock to a valuation you rarely see on a business that good. My view was that while the market thought Google was behind in AI, they had the distribution and the capital to get back in the race, and they did, with Gemini 3 in late 2025. I expressed the view through LEAPS for torque on the re-rate.
Where it standsThe contract is up from a $5,255 cost basis to an $18,525 mark as the disruption narrative faded and the multiple recovered.
META 2025–2026
OPEN
Structure
Calls + CSPs
Entry (stock basis)
~$540
Current Mark
$650.00
Return
+20%
Why I got inBack in a name I know well. The market has treated Meta's AI capex as a massive negative, but I saw it differently. That spend has the potential to be a huge positive, and even if the ROI proves weak, Meta keeps the optionality to cut it. I built the position with a mix of calls and cash-secured puts around a ~$540 basis, selling puts at levels I was happy to own the stock and using calls for upside as the AI story plays out.
Where it standsRoughly +20% against the stock basis with the shares at $650.00. Built between March and June 2026, right around the $520 low.
EWY Q1 2026
OPEN
Structure
Long calls
Avg Cost (contract)
$3,300
Current Mark
$9,100
Return
+176%
Why I got inThis one is about Korean memory names trading at single-digit PEs with cheap implied vol relative to how those same stocks were moving. I think memory is a secular shift, not a peak-cyclical story. If AI demand holds the way I expect, these were priced like the cycle was about to roll over when the setup said the opposite.
Where it standsUp 176% from a $3,300 average cost to a $9,100 mark. Entered 2/5/26 with the underlying at $120; EWY has since run to a $220.89 high before settling near $172.