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Ernest Wong  

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  • Salesforce.com Has More Upside Potential Than Its Peers [View article]
    What about the downside potential?
    Feb 23, 2015. 02:28 PM | 2 Likes Like |Link to Comment
  • 3 Reasons Why Morgan Stanley Is Wrong About BlackBerry [View article]
    Morgan Stanley is targeting $7, and you're saying that book is worth around $6-$8 per share, so I don't fully understand what you're trying to say. Perhaps you can clarify?
    Dec 30, 2014. 01:32 PM | 2 Likes Like |Link to Comment
  • 3 Reasons Why Amazon's 'Cash Flow' Is A Trap [View article]
    Its still meaningful, because you still need to estimate the number of shares in order to calculate a per-share figure, right? Like, its the same as income. It's only meaningful to shareholders on a per share basis, and share dilution from employee stock options would definitely affect that.
    Sep 19, 2014. 05:37 PM | 1 Like Like |Link to Comment
  • China Dongxiang: A Very Cheap Way To Buy Alibaba [View article]
    the ipo fallout isn't a big deal since you can simply short the underlying to hedge
    Sep 19, 2014. 05:24 PM | Likes Like |Link to Comment
  • 3 Reasons Why Amazon's 'Cash Flow' Is A Trap [View article]
    No, since you expensed it already (and is reflected in income), you add it back to operating cash flow and leave it as that. Amazon's accounting is 100% correct, and there's no one out there who's getting misled by Amazon adding back depreciation and stock-based compensation to get operating cash flows.
    Sep 19, 2014. 05:06 PM | 1 Like Like |Link to Comment
  • 3 Reasons Why Amazon's 'Cash Flow' Is A Trap [View article]
    Yes, but it doesn't make any sense to include it as a cash outflow when in fact there is no cash going out, and there never will be! As an equity holder, you can account for it by including it in your diluted shares calculation, but I can't see how you can possibly argue that stock-based compensation deserves to be recorded as an operating cash outflow. Your ending cash balance wouldn't even match.
    Sep 19, 2014. 03:54 PM | 2 Likes Like |Link to Comment
  • 3 Reasons Why Amazon's 'Cash Flow' Is A Trap [View article]
    In my view, stock-based compensation should not be added back to operating cash flow, even if it is a real cost. The purpose of calculating operating cash flow and free cash flow is to know how much cash flow is available for the company. For example, if you are a creditor to Amazon, you would obviously much prefer that Amazon pays its employees in stock, since the cash is still available to repay you.
    Sep 19, 2014. 01:43 PM | 1 Like Like |Link to Comment
  • Danieli: Ultra-Cheap, Ultra-Solid, 40% Upside (At Least) [View article]
    good point, forgot about cash lol
    Sep 3, 2014. 03:08 PM | Likes Like |Link to Comment
  • Danieli: Ultra-Cheap, Ultra-Solid, 40% Upside (At Least) [View article]
    Unless they have negative debt, its impossible for market cap to be greater than enterprise value
    Sep 3, 2014. 02:04 PM | Likes Like |Link to Comment
  • Arctic Cat - A Classic Fallen Angel Stock [View article]
    I haven't seen much evidence that Cat is willing to enter into a price war yet. They've raised prices pretty much every year for all major product lines, and this is where customer loyalty becomes extremely important. Over 90% of customers of snowmobiles/atvs are repeat customers (quote from former ACAT CEO).

    As for the CEO boot, your guess is as good as mine. I've read rumours online that the board wasn't happy with the GE-style of cost-cutting which lowered costs at the expense of product quality and dealer relationships, but as you said, they've been intentionally silent about it.
    Sep 2, 2014. 04:41 PM | Likes Like |Link to Comment
  • Arctic Cat - A Classic Fallen Angel Stock [View article]
    Thanks for your comment!
    Sep 2, 2014. 02:43 PM | Likes Like |Link to Comment
  • Will The Lobster Deal Be A Tipping Point For This Net Lease REIT? [View article]
    They make good cheese biscuits though
    Jul 30, 2014. 12:05 PM | 4 Likes Like |Link to Comment
  • Coach: Trading Range Could Fall To $21 - $25 After Earnings Report [View article]
    I don't know, but that's because I haven't done the work. All you gave us was the past quarter's results and some analyst expectations, and multiplied it using an unrelated company's P/E, which I could have done in 30 seconds. What are the effects of the store closings and product line changes? What is your own opinion about the future of COH (not some Wells Fargo analyst), and what led you to that conclusion? What is the market missing that would cause the stock to fall 30-40% in a week? Those are some of the questions that I would want from an investment opinion, at a minimum.
    Jul 28, 2014. 01:17 PM | 12 Likes Like |Link to Comment
  • Coach: Trading Range Could Fall To $21 - $25 After Earnings Report [View article]
    It's absurd that people actually get paid for writing this crap
    Jul 28, 2014. 11:45 AM | 11 Likes Like |Link to Comment
  • An End To Our Relationship With Yahoo, A New Era For Equity Research [View article]
    I'm worried this will continue to lower the quality of articles on this site. There are already a high number of "click farmers", and I feel like this will only reduce the quality of research as people rush to push out articles.
    Jul 25, 2014. 11:08 AM | 52 Likes Like |Link to Comment
COMMENTS STATS
55 Comments
128 Likes