Follow My Alpha

Long/short equity, deep value, value
Follow My Alpha
Long/short equity, deep value, value
Contributor since: 2011
Company: Investing Like Buffett
Apologies Al and thanks for the heads up. A correction has been submitted.
Matt
Thanks for the heads up!
We'll get it switched up :)
Secret Recipe
I've submitted an edit to get this fixed. Thank you for politely pointing out the typo so I can get it fixed it.
Here are the correct Numbers:
BNS:
Dividend Yield:3.78%
EBIT Growth (Year 1/Year 2): 19.15%
Forward P/E: 10.26
BNS:
Dividend Yield:4.64%
EBIT Growth (Year 1/Year 2): 28.50%
Forward P/E: 9.46
Chris
You are correct in that the dividend yield is incorrect. We are working to have this fixed and we apologize for the typo.
When looking at the topic of Beta both Yahoo:Finance and Google:Finance list different betas. Having your CFA designation we're sure you understand Beta can be calculated in more than one way and that it will inherently change over time due to changes in volatility.
Finally, you did not reference the correct equation for Financial Leverage. Instead, you incorrectly provided the Debt/Equity ratio. We know it was an honest mistake. The Financial Leverage Ratio is as follows:
=Average Total Assets/Average Total Equity
The link below is to the CFA glossary relative to Financial Leverage:
http://bit.ly/uP2KXZ
We have also seen Financial Leverage calculated in more than one form but this is the way the CFA institute views it. We thought the link would be a good reference for users in general.
Thank you for pointing out the typo and have a great day.
The EvoFresh Team
Binary
The financial markets are constantly changing & to expect these performance numbers to never change isn't realistic. Further, given the fact that the market is swinging well over 100+ points on the Dow 30 on almost any given day only cements the point that performance numbers can and will inherently change quickly by their very nature. Finally, articles are not reviewed and posted in literal real time on SA so there may be some slight information delays. Thank you for understanding.
The EvoFresh Team
Ritr54
Thank you for notifying us of the typo. We are getting it corrected now. Have a nice day.
EvoFresh Team
Goodoboy
Great question. There is no exact number but generally anything greater than 10% raises some type of flag for the better or the worse in our view. Food for thought.
EvoFresh Team
Brad
You are correct and thank you for pointing out the issue. We are working to have it fixed.
EvoFresh Team
LaChic
If we had any positions they would be disclosed as required by SA. Please do not make any baseless statements where you lack support.
The EvoFresh Team
Zacherchat
Thank you for pointing out the dividend yield discrepancy. We're notifying SA currently on this topic. The Operating Margin was in reference for the full year of 2010. Have a great day!
The EvoFresh Team
Das555
You bring up a good point in that RGNC is an MLP, which makes it more unique. Still, this is a business plain and simple. Unique tax benefits and distribution criteria to shareholders do not change the fact that the firm has short-term obligations and long-term liabilities that must be handled. What happens if they have some type of accident at a facility? They can't just shrug their shoulders and say "hey this won't affect our liquidity as a firm, our dividend payments, and or impact us adversely because we're an MLP."
Based on our information the Payout Ratio (TTM) for for RGNC is 970.54. Our understanding of the Payout Ratio is as follows:
Payout Ratio - Trailing 12 Months
Payout ratio is calculated by dividing dividends declared for the indicated 12 month period by net income for the same period of time.
Thus what RGNC is currently yielding and what it has generated as a company in the last twelve months relate. As far as we can tell trailing earnings will not cover the yield illustrated. Of course they can take out debt or some other sort of financing to pay the current yield. As with many MLP's the dividend is often variable and contingent on what the firm earns, commodity pricing risk, and other variables.
We are much more comfortable with BPT & SJT relative to MLP's. If this was simply a EPS topic then every MLP by this logic should have an astronomical PE ratio but they don't. Plus, plenty of companies that aren't MLP's play the "tax game" just as well. GE & Google come to mind. Last, to write off standard financial health metrics on any company simply because of a tax classification (MLP's) or unique characteristics would be short sighted.
The EvoFresh Team
Nokia drops 20% Today:
Destruction = Nokia
Today's News Article:
mashable.com/2011/07/2...
EvoFresh Article Before the Destruction:
seekingalpha.com/artic...
Wow! Everybody needs to see this chart. Can't say beststockpicker didn't warn the world if this happens to Z as well.
seekingalpha.com/symbo...
Comparing Zillow's potential to Amazon. com is a little far fetched. Amazon had the ability to morph into the ultimate online retailer that was never truly defined by one category or industry. Amazon now offers payment services and has successfully leveraged the power of the online entrepreneur. Zillow on the other hand is real estate only and far more limited in scope by default. Mortgage marketplace was a great idea but still part of real estate. The idea that Zillow could morph into something completely different years down the line like Amazon isn't an easy to sell. Just imagine if Amazon still only sold books...stock probably wouldn't be so hot. Then again all boats rise at high tide and Zillow maybe one of these boats.
Check Out the Zillow Article Below:
seekingalpha.com/artic...

You make a pretty good point. Wouldn't be surprising to see a pop so close to the bottom but with it going against Apple this just isn't a name to hold for the long-term. For trading purposes it could be a different story.
Yeah they have a plan...plan is to not do anything. They'll call it Operation:Headless Chicken. No specifics mentioned thus far so not a huge surprise why nobody is getting the wool pulled over their eyes at this point. Can we say value trap?
seekingalpha.com/artic...
The punches just keep coming for Nokia in the news
www.reuters.com/articl...
Bob
Not to be rude but DNR's homepage www.denbury.com/ literally has a video (bottom right corner) that lasts 3:11 minutes on how they use CO2 in their extraction process. Within less than 30 seconds of the video (roughly 15 seconds) CO2 is mentioned directly. You may way to listen to the conference call again. Perhaps you miss heard but after reviewing multiple sources including the firms own site it looks like you are mistaken. Have a good day.
EvoFresh
Thanks for the comments. Glad you enjoyed the article.
Please refer to the links below Hans for the Copper Age or just Google the term:
en.wikipedia.org/wiki/...
www.britannica.com/EBc...
*international
"Today, A&F operates 250 domestic and 1000 foreign stores (all brands included) while AEO operates roughly 1000 stores in the US alone."
A&F operates 1000 stores (all brands included) globally. This includes domestic and interantional operations. Please excuse our poor word choice here as it created some confusion on the A&F operations. Thank you for pointing this out. Have a great day.
Full Correction
March 31, 2011 (Most Recent Numbers)
Cash and cash equivalents $ 141,007
Total current assets $ 1,578,234
Total current liabilities $ 512,351
*Numbers in Thousands
Cash Ratio: 27.52%
Cash and cash equivalents as (%) of CA: 8.93%
Quick Ratio: .9301
Source:SEC
Link:www.sec.gov/cgi-bin/vi...#
You bring up a valid issue. We found that multiple 3rd party sources reformat the financial statements in their own way. We used the most recent statements (9 months ended) filed with the SEC to help ensure accuracy.
Cash & Cash Equivalents: $ 91,427
Current Assets:$1,661,515
Cash Ratio=5.5%
*Source SEC
*Numbers are in thousands
Link: www.sec.gov/cgi-bin/vi...#
Interesting Information and Update:
noir.bloomberg.com/app...
Interesting article on G-20 concerns about inflation and trade imbalances:
noir.bloomberg.com/app...
Interesting article about trade imbalances and emerging markets:
noir.bloomberg.com/app...
Don't forget to tweet and or Facebook share this article if you think your friends find it interesting too!
Great article Mr. Martin. The fact that you were able to interview so many different management firms only adds to the credibility of your position and that you have a pulse on the situation at hand.
In particular, we noticed that you interviewed Guess (GES) which reports tomorrow but didn't really expand whether you had a bullish or bearish sentiment toward it. Is there any reason why you didn't really delve into this particular firm?
Obviously, it makes little sense to be bullish on every single name out there but we feel Guess (GES) still offers solid opportunity for the investor. We're excited to see what Guess reports tomorrow for the good or the bad.
Here is our take on Guess (GES):
seekingalpha.com/artic...
Correct the acquisition from TopTable.com was substantial. The number was roughly 5,000 new restaurants and another 3 million seated diners annually.
Our Take on OpenTable (OPEN):
seekingalpha.com/artic...
It sounds like you are short or own puts here on OpenTable(OPEN). Your argument being relative to the fact that we decided to use a different discount metric than the majority of other Wall Street analysts proved to work well for those being long.
As well, using a high discount rate that one would normally reserve for a Biotech valuation still in Stage 1 and or 2 test trials with no revenue just doesn't make sense in our opinion. This firm makes money and has positive cash flow. It is illogical to apply the same discount rate for a firm that has positive cash flow relative to a firm that doesn't even generate revenue yet.
If our analysis with a discount rate of 5% was so off then the stock should have crashed after earnings instead of going higher. Just because you personally don't agree with the numbers used doesn't mean that you are inherently correct.