On October 22, 2014, Ethan Everett gave the second pitch of the semester, recommending shares of Bed Bath & Beyond Inc. (BBBY). BBBY is a specialty retailer that he finds to be significantly undervalued, and represents a great addition to SMIF’s holdings. BBBY’s remarkable consistency is evident when looking at its historical free cash flows. BBBY’s free cash flow has been positive every year since fiscal year 1996. As a result of its ability to bring in excess sums of cash for an extended period of time, management has consistently been able to execute strategic stock repurchases to enhance shareholder value. With future store growth both domestically and abroad that the market does not seem to factor into BBBY’s stock price, shares look especially attractive. The class voted to purchase BBBY for the portfolio.