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Karl Glazier

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  • Summers Expects A Long Winter [View article]
    Great article. The key problem is the ever increasing concentration of wealth. plus the trade deficit.
    Corporate managements are stealing ever larger amounts from shareholders. They need many millions of "incentives" to get out of bed in the morning and to work.
    One person can spend only so much, the rest just sits there.
    Nov 19 12:22 PM | 1 Like Like |Link to Comment
  • MTR Gaming: Shareholders Are Likely To Receive Superior Merger Proposal [View article]
    If the deal closes in mid-2014, doesn't that mean you have to wait 7 months to make the 5% gain?
    Nov 17 05:30 PM | Likes Like |Link to Comment
  • An Open Letter To The Board And Management Of K12 [View article]
    The stock is mispriced. Shorters are pushing it closer to where it should be.
    He is already telling the company in detail what they need to do, what more can he do?
    Nov 4 08:52 AM | 1 Like Like |Link to Comment
  • The Obesity Epidemic: EnteroMedics' New Treatment Approach [View article]
    How much does this device and the surgery cost? If it is too much, few people can afford it.
    Jan 29 11:15 AM | Likes Like |Link to Comment
  • Dr. Marc Faber's Market Outlook For 2013 [View article]
    Here is his 2010 outlook:
    "He likes commodities (wheat and natural gas in particular), Japan & hates the U.S. He continues to forecast hyperinflation as the government prints its way out of the crisis (this is very similar to Julian Robertson’s outlook). He still believes the capitalist system will fail in spectacular fashion."
    Wrong on most counts.
    In 2011:" Faber believes a correction is imminent for the stock market"
    Wrong again.
    2012:"How can investors prepare for a potential global collapse?

    "My advice would be to diversify 25 per cent of your assets in real estate, 25 per cent in equities and 25 per cent in cash and bonds and 25 per cent in precious metals."

    That would not have lead to the big gains he claims after 4 years of bull market, while he remained skeptical.
    Dec 29 12:49 AM | 6 Likes Like |Link to Comment
  • EBIX: If The SEC Cometh, The SEC Will Findeth (Or So We Suspect) [View instapost]
    http://bit.ly/UGXeO5

    Raina:
    To put things in perspective, BDO Tax Partners in 2005-2006 put Ebix's tax structure in place. Subsequent to that, it has been reviewed and enhanced by Ernst &Young, with help from other firms like BKD, Frazier Deeter, etc., besides multiple offices of E&Y across the world. Ebix's infrastructure setup of putting development and IP in Singapore & India was put in place much before any tax planning was contemplated. Also, Ebix's inheriting of NOLs in the United States was something that was not planned, but happened since Ebix had lots of losses in the pre-2000 era. Our tax structure worldwide was thus driven by our infrastructure and efficiency needs of putting development & IP in a place, which could give us global economies of scale at the highest levels of efficiency.

    Ebix took care not to transfer any IP out of the U.S. and thus does not expect any issues on that account. All our IP centralized in Singapore was either built and funded by Singapore, or directly acquired by Singapore through an acquisition.

    Our transfer pricing is not done by CB&H. The transfer pricing, updates and reviews are done by E&Y with help from their various offices, and BKD. That is a continuous exercise and not just a onetime exercise. Every position of the company has a strong documented basis, written by these top quality firms who are rated one of the best in this work worldwide. CB&H is our U.S. auditor who checks all this from an auditor perspective and they have an international tax practice that specializes in this field.

    Besides following the advice of the best in the business, the company always has taken conservative positions and built large FIN 48 reserves to offset any adverse transfer pricing rulings. Also our US NOLs in all those periods serve to largely offset the cash impact of any adverse ruling."

    This is from July 2011, and you are still sensationalizing the same issues.

    Have any current Ebix customers or potential customers mentioned Barron's or any of the short-seller articles as a point of concern?

    Raina:
    The short answer is no. My guess is that our customers know a lot more about us than any media article can tell them about Ebix.
    Dec 5 11:31 PM | Likes Like |Link to Comment
  • EBIX: If The SEC Cometh, The SEC Will Findeth (Or So We Suspect) [View instapost]
    Ebix's CEO:
    " The agreement with Peak shareholders mandates audited GAAP numbers to be used for the earn-out calculation. The audited numbers were a lot lower than $6.5 million.

    If they had a dispute with that number, then the contract mandates that they need to give Ebix a 30-day notice, then submit reasons for dispute on revenue. After all this, it could lead to arbitration, failing which, it would go to a court. The funny fact is that they have not done any of that, including giving us a 30-day notice or taking it to arbitration. One wonders why they were in a hurry to file a suit and report it to the public, when the contract does not even allow them to do that. So, let us hold our thoughts for now and not pass any judgment on Ebix practices or management, based on this suit that alleges a few hundred thousand in understatement.
    Dec 5 11:04 PM | 1 Like Like |Link to Comment
  • EBIX: If The SEC Cometh, The SEC Will Findeth (Or So We Suspect) [View instapost]
    Your hyperbole knows no limits, desperately trying to stampede the longs into selling, so you can make profits at their expense
    You carry on and on about the "damning" Peak lawsuit, but you fail to mention that they are suing over $1.5 million.
    Immaterial.
    That is a clear intent to mislead and deceive on your part.
    You should be working for the National Enquirer.
    Dec 5 10:45 PM | 2 Likes Like |Link to Comment
  • Charts: 10 Reasons To Expect A Year-End Stock Rally (Part 2) [View article]
    The problem is that the deficit needs to be cut every year by perhaps 2% of GDP.
    That means GDP growth will be perhaps 2-3% (before the cuts) less 2% = 0 - 1%.
    Once people realize this, it will be a rude awakening.
    Nov 3 10:45 PM | 2 Likes Like |Link to Comment
  • Facebook Q3 10-Q: Not As Rosy As It Appears [View article]
    FB is operating at a loss. The author fell for management window dressing a la 1999, telling investors to ignore certain large expenses (stock based compensation leading to massive dilution).
    Oct 30 11:54 AM | 2 Likes Like |Link to Comment
  • Angie's List Management Discusses Q2 2012 Results - Earnings Call Transcript [View article]
    According to the analysts, "congrats to management for a great quarter", losing $23 million on $36.5 million in revenues.
    How much would they have to lose for them to say the opposite?
    Jul 26 08:37 PM | 1 Like Like |Link to Comment
  • Canadian Oil Stocks Look Cheap [View article]
    The cheapest Canadian oil stock is Mart Resources (MMT.V, MAUXF) at $1.45. They earned .11 in the first quarter and will start paying a quarterly dividend of .05 soon for a yield of 15%, if you deduct the special .10 dividend payable August 8.
    Over the next 12 months they will sharply increase oil production (in Nigeria), leading to higher EPS and share price.
    Jul 6 01:30 AM | Likes Like |Link to Comment
  • Dividend Aristocrats: The Most Profitable Force In The Universe [View article]
    SDY (S&P Div. Aristocrats) had a lower total return over the last 3 years than the S&P index.
    What gives?
    May 11 03:31 AM | 1 Like Like |Link to Comment
  • Why I Became A Netflix Bull [View article]
    The growth in google searches for "Netflix" has slowed down to zero, and historically there has been a 95% correlation between this and subscriber growth:
    http://bit.ly/y1eIdi
    That means that new subscriber growth will be disappointing.
    Mar 18 02:44 AM | 2 Likes Like |Link to Comment
  • Buffett's Bursting Bubble [View article]
    What happened to your hyperinflation prediction from 2 or 3 years ago?
    The Fed did massive quantitative easing, and the hyperinflation that you predicted is nowhere to be found.
    Because you are in the business of scaremongering.
    Mar 7 02:58 AM | 9 Likes Like |Link to Comment
COMMENTS STATS
58 Comments
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