Lares Capital
Hedge fund manager, small-cap, long/short equity

Emerson Radio Is No Longer A Value Trap

Editors' Note: This article covers a stock trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.

I want to credit Konstantin Kostyukov with assisting me in conducting research on Grande Holding bankruptcy. His help in untangling a complex bankruptcy case has been invaluable.

Introduction

Emerson Radio Corp. (NYSEMKT:MSN) is one of the oldest electronic brands in the world, tracing its roots to Emerson Phonograph Co. which was founded in 1915. The company went through many different iterations: making radios in the 50's, air-conditioners and TVs in the 60's, medical devices in the 70's, and finally, budget consumer electronics (TVs, microwaves,...

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