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Frank Voisin  

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  • Urbana Corp: Buying $1.00 For $0.55 [View article]
    I replied to a similar question on my site here:
    Jul 28, 2013. 04:31 AM | Likes Like |Link to Comment
  • Urbana Corp: Buying $1.00 For $0.55 [View article]
    I couldn't agree more. I've added in recent weeks and will be watching for further opportunities over the summer.

    Jul 27, 2013. 04:25 AM | Likes Like |Link to Comment
  • Urbana Corp: Buying $1.00 For $0.55 [View article]
    Hi Mario, thanks for the comments. I saw and responded to your note on Instagram. Shoot me an email via my website if you want to get together for a drink when you are in London.

    Jul 27, 2013. 04:24 AM | Likes Like |Link to Comment
  • Urbana Corp: Buying $1.00 For $0.55 [View article]
    Hi Chris,

    Thanks for the nice comments. You wrote a great article on Urbana, and I am now following you on Seeking Alpha. Have you followed your strategy of writing calls on CBOE?

    Jul 27, 2013. 04:23 AM | 1 Like Like |Link to Comment
  • Buy $1 For $0.50 And Own The Bombay Stock Exchange For Free With Urbana Corp. [View article]

    FYI, UBAA is up 44% since this article was written, which is nearly 50% more than IAI's increase of 30%.

    Buying exposure to the same assets more cheaply wins in the long run.

    Jul 27, 2013. 04:23 AM | 2 Likes Like |Link to Comment
  • Wonder Auto Technology Restating 2008,2009 Annual Reports [View article]
    Just a quick update for anyone interested.

    "The Audit Committee commenced the investigation in response to a report alleging that the Company had engaged in several transactions without properly disclosing their related-party nature. Based on the information presently available to it, the Audit Committee expects that its investigation will continue at least through June 2011."

    "On and effective July 12, 2011, Qingjie Zhao resigned as Chief Executive Officer and President of Wonder Auto Technology, Inc. (the “Company”). Also on July 12, 2011, Meirong Yuan resigned as Chief Financial Officer of the Company."

    Check out all the allegations and the report from the independent directors committee here:
    Wow. Lots of nefarious deeds. Here's a few:
    "The Committee finds that the Company should reevaluate its revenue recognition disclosures"
    "The Committee finds that the Company lacks reliable systems and internal controls timely and properly to track and account for costs associated with inventory, including inventory obsolescence, defective product, and the reworking of inventory. These deficiencies call into question the Company’s ability properly to calculate its inventory valuation, cost of sales and gross margin."
    "The Committee finds that the Company lacks sufficient qualified and competent accounting personnel and internal controls."

    Trading suspended:

    Auditor resigned:
    Apr 10, 2012. 02:02 AM | Likes Like |Link to Comment
  • Is The VIX A Value Play? [View article]
    Thanks everyone for the positive feedback. You can read my other write-ups at
    Mar 28, 2012. 11:00 PM | Likes Like |Link to Comment
  • Gamestop Is Deteriorating Quicker Than You Think [View article]
    Why would you suggest doubling the dividend when the stock is this cheap? Any money that could go to the dividend should go to repurchases.
    Mar 27, 2012. 07:59 AM | 2 Likes Like |Link to Comment
  • Staples: Best-In-Class Retailer With Growing Advantage Reports Wednesday [View article]
    This was a simple (and inconsequential) mistake and the write-up has been edited to reflect Wednesday rather than Friday. If you don't want to trust the rest of the research, then so be it. I could not possibly care less.

    Good luck,
    Feb 28, 2012. 12:19 AM | 1 Like Like |Link to Comment
  • Innophos Holdings: Fairly Valued Unless Speculations Prove True [View article]
    The difference between our approaches is that I am less willing to pay for potential future growth. Rather, I focus on companies with long and stable track records that are trading at a discount to their current intrinsic value (rather than some hoped-for higher intrinsic value in the future).

    I have no problem with IPHS management. As noted in my article, they seem to be doing a lot of things right. My problem is that the price currently doesn't provide a sufficient margin of safety. A purchase today is a bet that future growth will push the intrinsic value upward, whereas I like to pay less than the current intrinsic value.

    If you are extremely confident in the company's growth potential, then you may draw different conclusions. Just be clear with yourself that you are paying for growth. Good luck!
    Jul 16, 2011. 11:52 PM | Likes Like |Link to Comment
  • Why I Love GameStop and Think You Should Too [View article]
    Thanks for the comments.

    You can find my other value-focused articles at
    Jun 30, 2011. 08:09 AM | Likes Like |Link to Comment
  • Best Buy: A Shareholder Friendly Value Stock [View article]
    See my other value-focused posts at
    Jun 28, 2011. 11:08 AM | Likes Like |Link to Comment
  • Transocean: Blame It on BP [View article]
    I wrote about this here:
    Jun 24, 2011. 08:13 PM | Likes Like |Link to Comment
  • The Dead BlackBerry Bounce: Buy or Sell? [View article]
    Buy! See my article here
    Jun 23, 2011. 09:29 PM | Likes Like |Link to Comment
  • Research In Motion: Pummeled, But Significantly Undervalued [View article]
    I wrote about RIMM here:
    Jun 23, 2011. 09:28 PM | Likes Like |Link to Comment