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Larry Meyers

 
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  • The Downside For Medallion Financial Only Just Beginning [View article]
    James,
    Your thesis is interesting, but I'm afraid it is seriously flawed. I don't think you understand TAXI's business model. I will be publishing a rebuttal shortly.
    Dec 19, 2014. 04:38 PM | Likes Like |Link to Comment
  • The Long Case For Conn's, Inc. [View article]
    Valid points.
    Dec 19, 2014. 03:39 AM | Likes Like |Link to Comment
  • Conn's Investors Do Not Need To Worry [View article]
    You did not read what I wrote.

    "If you enter a transaction of your own free will, in which all required disclosures are made, it cannot be predatory, by definition."

    If the transaction involves deception, then disclosures are not being made, and the loan is not predatory, it's illegal.

    "Abusive" loan terms are those that the borrower finds abusive and enters into based on deception. If a borrower agrees to a loan when deception is not involved, he has done so of his own free will, has agreed to those terms which YOU may consider abusive, but which he obviously does not as his agreement presupposes the loan is within the realm of reason, or he would not enter into the transaction.

    Nobody is FORCED into taking out any loan. It is always a matter of free will.

    There is no evidence that CONN has deceived borrowers.

    So, Mr. Avatar Who Won't Reveal His Name, that's the truth.
    Dec 17, 2014. 10:46 AM | 1 Like Like |Link to Comment
  • Conn's Investors Do Not Need To Worry [View article]
    It is NOT a predatory business. If you enter a transaction of your own free will, in which all required disclosures are made, it cannot be predatory, by definition.
    Dec 16, 2014. 05:18 PM | 1 Like Like |Link to Comment
  • Conn's Investors Do Not Need To Worry [View article]
    I disagree with both of you. There is a proper way to underwrite and to profit as well. Conn's isn't doing either.
    Dec 16, 2014. 03:35 PM | Likes Like |Link to Comment
  • Conn's: More Stable Than You Think [View article]
    Jeremy, you would do well to listen to Budfox. Delinquency increases are devastating to the company bottom line. That's a loss of principal, whereas performing loans only bring in APRs in the mid-teens. Delinquencies at this level wipe out all profit.

    CRMT is in no way similar to CONN. Take it from a subprime credit expert. The underwriting is entirely different. Further, a CRMT delinquency permits a repo on an asset with underlying value. Not so with CONN.
    Dec 16, 2014. 11:37 AM | 2 Likes Like |Link to Comment
  • Conn's Investors Do Not Need To Worry [View article]
    Zain, I have to agree with Jeremy. You are completely off-base. THe issue with Conn's is extremely loose underwriting, resulting in a very high level of defaults. These bad debts have wiped out what the company makes on its performing loans, sending EPS into negative territory, as well as cash flow.

    While the macroeconomic issues are bullish for retailers in general, they will have no impact on the disaster of Conn's.

    Jeremy, I'm not so sure the selloff is overdone. The receivables portfolio may be worth substantially less than even my most highly discounted models suggest.
    Dec 15, 2014. 10:38 PM | 1 Like Like |Link to Comment
  • Why I Am Not Long SodaStream [View article]

    1) There is no potential of the company outside of the small appliance category. It makes one product that other companies already offer. What are we to expect from Sodastream next? Refrigerators? Not.

    2) "In all absolutivity, making sparkling water at home is healthier than store bought sparkling water which blesses are [sic] bodies with those various additives. Chemistry, doesn't take much now does it."

    Apparently it does, because the ingredients for most sparkling waters on the market are H2O and CO2. There are no "additives" in most products.

    3) The "blades" are meaningless if there are declining sales of units. That's my thesis.

    4) This makes no sense. LOL.

    5) Try Googling "We are a water company now", the quote from the CEO. It has abandoned the soda business, not "rebranded" it.

    I think that settles things.
    Dec 15, 2014. 08:29 PM | Likes Like |Link to Comment
  • Recent Economic Activity Looks Strong: November Retail Sales In The Spotlight [View article]
    Actually, I'm proving your double standard, and I thank you for the opportunity.
    Dec 15, 2014. 08:20 PM | Likes Like |Link to Comment
  • Recent Economic Activity Looks Strong: November Retail Sales In The Spotlight [View article]
    You haven't taken a position as to whether or not you have increased your position. Why not?

    If you want to be taken seriously, take a position. It doesn't get any more serious than that.
    Dec 15, 2014. 07:03 PM | Likes Like |Link to Comment
  • Why I Am Not Long SodaStream [View article]
    "If you want to be taken serious, take a position"

    Therefore, on all stories without you taking a position, you are not to be taken seriously. Thank you. You have indeed demonstrated substantial foolishness.

    I have offered a thesis.

    You are unable to provide a rebuttal, so I shall leave it to readers to decide who to take seriously.
    Dec 15, 2014. 07:00 PM | 2 Likes Like |Link to Comment
  • Build-A-Bear: A Great Short Opportunity For Christmas Grinches [View article]
    Thank you all for your comments. It sounds like there's general agreement. And yes, you always have to time your short correctly and use a stop-loss.
    Dec 15, 2014. 02:35 PM | Likes Like |Link to Comment
  • Why I Am Not Long SodaStream [View article]
    Nope, the fact that you do not have a position every single time means you have a double standard.

    Clearly you are perturbed by my undermining of your own "certainty". So…

    If you want to be taken seriously, ATTACK MY THESIS. I encourage you. If you can't, then it's obvious why you are here.
    Dec 15, 2014. 02:33 PM | Likes Like |Link to Comment
  • Why I Am Not Long SodaStream [View article]
    Seth, you make suggestions in several of your articles and yet you have no position in equities, either. That's a double standard, which feels more like an attempt to defend your SODA long position, rather than attack my thesis. 
    Dec 15, 2014. 12:01 AM | Likes Like |Link to Comment
  • Why I Am Not Long SodaStream [View article]
    Seth,

    http://seekingalpha.co...
    Dec 14, 2014. 08:37 PM | Likes Like |Link to Comment
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575 Comments
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