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David Addison

 
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  • Turnaround Or Not, Yahoo Shares A Bargain
    Editors' Pick • Wed, Apr. 30 YHOO 15 Comments

    Summary

    • YHOO is undervalued by 17% to 45% using a sum-of-the-parts valuation methodology.
    • Yahoo!'s core operations would be worth significantly more as a standalone entity than its stub value as a conglomerate entity of Yahoo! Inc.
    • A $7.5 to $10 billion USD cash infusion from the sale of 208 million Alibaba shares during the upcoming IPO should catalyze an upside correction.
    • YHOO is undervalued today. Cash infusions and buybacks should unlock shareholder value. However, a meaningful turnaround of Yahoo!'s core operating businesses is necessary to create value over the long term.
    • Going long YHOO is a solid trade with asymmetric return potential over the short term.
  • Shareholder Rejection Of Yongye's Buyout Offer: Boon Or Boondoggle?
       • Tue, Mar. 11 YONG 82 Comments

    Summary

    • On Wednesday, 19 February, The Street reported that Yongye had postponed the vote on the buyout, ostensibly to garner more shareholder support.
    • On Wednesday, 5 March, Yongye announced that the going private proposal had not been approved by shareholders causing to shares to plunge nearly 20% from $6.57 to $5.31.
    • The recent decline in share price may provide the acquiring group a window of opportunity to aquire a majority stake in YONG at a discount to its rejected offer price.
  • Yongye: Unique Risk-Arbitrage Opportunity​ For An Undervalued Firm
    Editors' Pick • Oct. 28, 2013 YONG 16 Comments
  • Kingold Is Precious: Shares Up 40% In The Week Following Downgrade By Analysts
    Oct. 24, 2013 KGJI 4 Comments