Comments on: CRA International Moat Check

By: Anonymous

Anonymous — Fri, 03 Nov 2006 17:55:28 +0000

The working conditions are deplorable. The turn-over rate, at least in the DC office is approx 60% Yes benefits are given, but don’t ever, ever take that time off if you want to keep your job. And don’t apply if you are a single mother.
Too much old boy stuff and it is a known fact they use up kids right out of school….

By: George

George — Thu, 26 Oct 2006 14:41:33 +0000

Babui – Thank you for confirming my take on this company and providing a “insiders” perspective on this industry.

Expert Company Analysis – I’m not sure that I will be covering the companies you list for quite some time. The only consultant that I know of that has a decent economic moat is the Corporate Executive Board. I might write up something about that company in the near future.

By: Festival of Stock #7 is Up - Fat Pitch Financials

Festival of Stock #7 is Up - Fat Pitch Financials — Mon, 23 Oct 2006 10:27:00 +0000

[...] The Festival of Stocks is being hosted this week by Gold Stock Bull. My article on CRA International is included in this week’s edition. [...]

By: Gold Stock Bull

Gold Stock Bull — Mon, 23 Oct 2006 06:49:14 +0000

Festival of Stocks #7…

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By: Expert Company Analysis

Expert Company Analysis — Fri, 20 Oct 2006 11:02:40 +0000

Please add the following consulting companies your list and analysis.

LECG
FTI CONSULTING
HURON CONSULTING
NAVIGANT

Maybe you would comment about the following:

1) Differences
2) Strengths and Weakness
3) Litigation vs Advisory

By: Babui

Babui — Wed, 18 Oct 2006 14:34:39 +0000

I work in a company similar to CRA and have been in economic/litigation consulting for nearly 10 yrs. I have worked at both boutique as well as Big 4 consulting firms. You are 100% correct regarding CRA NOT having a wide moat. Only a small number of directors or partners bring in the lions share of business. They are the ‘prima donnas’ in this business and tend to walk when they are unsatisfied. I have seen many, many groups break up (or have significant slow downs in revenue) because the partner walked (for whatever reason). Having said that – economic/litigation consulting is an enormously profitable niche……if your consulting company has the ‘prima donnas’. It is even more profitable during economic downturns when the litigation between companies increases. Some of these litigation/economic consulting cases can last for years and are cash cows. The only way to invest in these companies (for the general public) is to pay attention to insider trading. Most economic/litigation cases are only $10k to $100k. But when a big cash cow case(s) comes in (read $1 mill plus a year for a few years) – look for insiders to buy.