Well, I didn’t think I would be doing this anytime soon, but Richardson Electronics, Ltd. (NASDAQ:RELL) is back on our radar due to recent news about its expanding role in the power solutions narrative, including data centers and battery energy storage systems (BESS).The stock is not cheap, and the company has had a challenging time returning to growth since 2022/23. However, in the current market where narratives are driving prices ahead of fundamentals or inflecting catalysts, we recognize a benefit to start tracking stocks earlier than we normally would. If you know me… I am totally ok with more stocks. This week, I recorded a deep dive investor insight Skull Session with Dean Pernas of Pernas Research. They have a really cool investing framework they call “motor investing.”
This week’s Skull Session was a real special one for us. We brought in Dean Pernas, co-founder of Pernas Research, alongside analyst Lukas Milosic (@Pixelresearch_ on X) for what turned into another wide-ranging, genuinely useful conversation we’ve been having on Skull Sessions.
Dean is a chemical engineer by training who spent five or six years at companies like Monsanto, Schlumberger, and Procter & Gamble before making the jump to full-time investing alongside his brother in 2020. Together, they launched Pernas Research in 2023, and what immediately sets them apart is something you don’t see often in the research shop space: a fully audited track record going back to 2017, verified by a third-party auditor.
The returns speak for themselves: multiple years of strong double-digit outperformance, including a 105% year in one of the more productive stretches. They invest their own money, write about what they own, and publish everything transparently.