On the Road

European HQ of US clothing brand
First Wilshire gives value investing lecture to PKU Beijing China
Large chemical plant control center
Demo of point of care HIV test kit
Analyst Feliks visits an online auto sales website company
Automated fruit processing facility
Checking the shelves and customer counts of a company store
Bill visits a auto mechanic training school
Artwork in lobby of a Silicon Valley tech company
Another visit to check inventory pricing and customer counts
Ammonia plant visit
Winery company opens new tasting room
Visit to plane graveyard during Covid pandemic
Visit to rare R&D and manufacturing company in LA
Large chemical plant control center
Overlooking site of future housing project in California
Scott visits digital ID company
Visit to boom truck assembly facility
Visit to new distribution center yet to be filled up
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“Detective Work” – On the Road With First Wilshire

The analysts at First Wilshire dig deep when looking at investments. We seek to develop independent viewpoints instead of conforming to the majority view.

Our research is extensive and thorough. We continually search the Small Cap universe looking at companies for prospective investments. Once a candidate is identified, we undertake an investigation that typically includes not only an analysis of all financial figures, but also a visit to talk with management and personally interview management.

A company review may includes a tour of company facilities, interviews of its vendors, customers, lenders, and other stakeholders. This helps us get an insight into the company that one cannot get by just reviewing financial statements. Where possible, we corroborate the story, as detailed by management and the filings, with other research, such as testing the product, getting a disinterested third party’s opinion, or doing channel checks. Only a small number of Companies we investigate eventually pass this screening.

Meat rendering. We see how the sausage is made, so you don't have to.
Cable company entering a new market - auto industry
Analyst Gregg visiting an agriculture expo in California
Checking the shelves on a visit to a health food chain in Australia
Analyst Karen touring a fertilizer R&D site
Loan Asset due diligence resulted in analyst Ben being chased by recycling company employee
Analyst Howard "mystery shopping" a Big & Tall apparel shop
Visit to new global satellite control center in Israel
Analyst Scott suiting up to enter a Clean Room
Counting heads in client support center of portfolio company.
Analyst Feliks visiting satellite station in Israel
Beef Jerky assembly line
Howard and Scott visit HQ of global engineering company in Pasadena, CA
Evaluating production and inventory at a cast resin transformer factory
Scott on a research trip to a recent "conflict zone" in Ukraine
Opulent campus of video game co HQ raised concerns over expenses
Analyst Karen checking up on new factory build. Shanghai, China
Tour of medical dressing plant. Shenzen, China
Analysts Gregg and Scott at largest health food trade show. Anaheim, CA
Bill and Scott visiting pesticide company. Los Angeles, CA
Anti-counterfit holographic film packaging products for foreign markets
Analyst Gregg meeting company executives and directors at large financial institution
Analyst Scott investigating the process of manufacturing copper-clad aluminum and steel
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Scott verifying orders through distribution cetner of power product company
Tour of pharmaceutical grade supplement company
Visit to laboratory of water measurement company
Catching companies off guard can be revealing. Empty facilites can raise concerns
Suiting up to visit a chip production line
Visit to HQ of high tech oil rig company. Houston, TX
Visit to global cell phone company in The Netherlands
Analysts Feliks and Scott visiting largerst Russian airline HQ
New technology to analyze gas energy levels in real time
Analyst Scott meets with Satellinte company HQ
Visitt to 80+ year-old family-run agricultural company with General Stores, Maumee, OH
Analyst Scott visiting fragrance company
Coal Blending facility - cleaner burning of coal. Rotterdam, The Netherlands
Analyst Bill visiting rare US turbine manufacturer
Visiting construction sites allows us to gauge progress
Analyst Gregg visiting with founder of long-held First Wilshire co.
Apparel design company demo room
Former Mexican Finance Minister and Chair of Mexican stock exchange visits First Wilshire
One of our many visits to cast resin transformer manufacturer. Hainan, China
Visit to HQ of mass consumption wine producer
Aerial view of oil storage project. TX
Visiting old and new plants and headquarters in Detroit
Analyst Feliks visiting computer HW co. Israel
Local fish market. You can learn as much on the street as you can visiting companies
Visit to medical garment and dressings manufacturer
Visit to crane manufacturer. Illinois
Analyst "mystery shopping" at sportswear retailer.
Analyst Scott visiting a satellite company followed since 1996. Hong Kong
New wire line makes for more efficient manufacturing
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