Matthew Dow
Small-cap, value, long only, growth at reasonable price

Valassis Communications Is A Compelling Value Stock With A Large Margin Of Safety

Valassis Communications (NYSE:VCI) is a market leader in the coupon insert and advertising industry. The company pioneered the free-standing insert flyer back in the early 1970s which has gone on to become common place today in newspapers and mail packages. In recent years the company has gotten cheaper and cheaper and garnered a lot of short interest, as the market believes that the secular shift towards more digital advertising mediums will eventually put the nail in the coffin for companies such as Valassis. However when you look a bit deeper here it is evident that the growth trends are not really that negative in the core business at all, and meanwhile Valassis is continuing to pay down debt...

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