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Manoj Madhavan  

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  • Ebix interested in $685M bid for U.K.'s Xchanging, topping CSC's offer [View news story]
    The Protagonist - EBIX can only get rid of the shorts by announcing such acquisitions and deals such as the Willis news that came out today (Nov 17, 2015). More power to them.

    stautxie - The stock price matters. EBIX does not have the cash needed on their balance sheet and they may not be able or willing to take on $500M in debt. The most likely outcome would be issuing of new shares and acquisition of XChanging with a combination of cash at hand, debt and cash from new share issuance.

    All this presupposes that EBIX is the winning bidder.
    Nov 17, 2015. 02:55 PM | 1 Like Like |Link to Comment
  • Keryx's Q3: Crunching Numbers [View article]
    Good work Early Retiree!
    It is never a good idea to bet against Seth Klarman who has a fantastic long term track record. And with the recently announced $125 million convertible which currently acts like a zero interest loan till 2020, Keryx has both the time and the cash to prove out sales of Auryxia in the US, Fexeric in Europe and Riona in Japan. Baupost (Klarman) will have a seat or two at the board to "nudge" this process along:-) Label expansion is also a possibility. There is a lot to like in the Keryx story.
    Nov 3, 2015. 08:09 PM | 4 Likes Like |Link to Comment
  • The Fed's Fischer And Asset Bubbles [View article]
    Logical Thought - I am not sure who you include under "people". I have excellent credit but my mortgage @3.7% is greater than inflation. Everybody around me (as in "common man") is paying far higher rates on their student loans, credit card debt and so on. Granted - banks are getting a REAL negative rate. But hedge funds are not. Money managers and RIAs are not.

    I do not mean to suggest even for a micro-second that there are no asset bubbles at this time. However, as far as the stock market goes, the average person on the street is not "exuberant". Many of my clients are in fact very nervous and are holding large amounts of cash. I do not blame them. They have been burned in 2000 and again in 2009 and it is difficult for them to trust a market that has been artificially inflated by the Fed.
    Oct 4, 2015. 10:10 AM | 4 Likes Like |Link to Comment
  • Nam Tai Property - Sellers Cleared Out, Significant Upside For The Patient Investor [View article]
    moxie12 - I am not a tax expert and I do not know the tax implications of this Employee Stock Option (ESO) exercise. However, in Mr Koo's 13D filing, Mr and Mrs Koo are listed as Canadian citizens. So... A Canadian citizen, exercising ESOs in a US listed company that is headquartered in Hong Kong but doing business in China! Sounds like a somewhat convoluted tax matter to me.

    Oh - and by the way - it is Manoj - not "Manjo".
    Sep 23, 2015. 01:24 PM | 1 Like Like |Link to Comment
  • Nam Tai Property - Sellers Cleared Out, Significant Upside For The Patient Investor [View article]
    Mr Koo's early exercise is a bullish indicator - no doubt about that.
    However, he may have done it for tax reasons.


    "You will owe no taxes at the time of exercise if you exercise your stock options when their fair market value is equal to their exercise price and you file a form 83(b) election on time. Any future appreciation will be taxed at long-term capital gains rates if you hold your stock for more than one year post exercise and two years post date-of-grant before selling. If you sell in less than one year then you will be taxed at ordinary income rates."
    Sep 22, 2015. 02:05 PM | 2 Likes Like |Link to Comment
  • Is Afrezza Destined To Be One Of The Top Ten Medications Of All Time? - Part 2 [View instapost]
    I hope that the increasing insurance coverage and promised "ad blitz" in Sep 2015 will lead to meaningful script numbers. Right now - it does not look good. There is nothing to argue with these "piss poor" NRx and TRx numbers. :-)
    Aug 26, 2015. 11:23 AM | Likes Like |Link to Comment
  • MannKind's Afrezza: One Investor's User Experience, Practical Insights And Perspective Of A Diabetic Pharmacologist [View article]
    Another excellent article Greg! Thank you for taking the time to write it. You have a very unique perspective since you are both a doctor and a diabetic. I particularly liked your idea of taking sips of water to solve the throat dryness issue that some Afrezza users have reported. Also, as you mentioned in your article, considering all the unnatural things that people put into their lungs voluntarily (such as cigarette smoke) and involuntarily (such as dust and other air pollutants), human insulin should not be a big worry. Even more importantly, Afrezza lowers your risk of hypos and your A1C, plus all the other positives such as reducing the risk of amputations and death, far outweighs any lung cancer concerns.
    Aug 5, 2015. 01:50 PM | 2 Likes Like |Link to Comment
  • Ebix: Digging Through Piles Of Old Dirt [View article]
    It is not surprising that SA continues to publish Melissa Davis'. SA Editor Eli Hofman has gone on record supporting the short thesis. To SA's credit, they did not edit another poster's or my comment calling them out
    See below:

    However - I am yet to see an apology or retraction of any kind from SA for rushing to judgment on EBIX.
    Aug 4, 2015. 06:05 PM | 8 Likes Like |Link to Comment
  • A New Deal For TowerJazz? [View article]
    Thanks for the TowerJazz update Jaret! Well researched and knowledgeable as always!
    Aug 4, 2015. 02:37 PM | 1 Like Like |Link to Comment
  • Himax Is Undervalued And Poised To Pop [View article]
    Very detailed article. Mentions some of the challenges and risks facing the company This is good because your article comes across as taking a more balanced view instead of overly optimistic "pie in the sky" projections. I am heavily invested in HIMX. Thank you for taking the time to research this stock in depth and for sharing your research. Well done!
    Jul 24, 2015. 01:50 PM | 3 Likes Like |Link to Comment
  • Can Himax Technologies Be The Next Ambarella? [View article]
    Good work Kevin! That best part about HIMX is that you can participate in a potentially high growth segment (AR/VR) without taking an insane amount of risk in an unknown and/or unproven start up. 20% of the company is owned by the Chairman, 9% by his brother the CEO and as far as I recall they did not sell when HIMX spiked above $17 on Google Glass hype. They have a 7+ year track record of issuing dividends. They have a solid diversified customer base and product base. They have proven that they are shareholder friendly with dividends and buybacks.
    They have a highly qualified workforce and invest a lot in hiring top quality R&D folks.

    I loaded up at $6.xx after the CEO said "inflection point" because of all the above. Hope we are all rewarded well in the coming years.
    Jul 7, 2015. 04:08 PM | 12 Likes Like |Link to Comment
  • After The Recent Rout Micron Is A Very Strong Buy [View article]
    Thanks for the article Russ! Excited to see you "back in the saddle" on the Micron horse!!
    Jul 3, 2015. 10:47 AM | 2 Likes Like |Link to Comment
  • Retrophin Needs Some Retro Pricing [View article]
    Ben - you must be looking at the numbers for the March 31, 2015 quarter.

    From the 10-Q for the March quarter:
    "On March 18, 2015, the Company announced that the U.S. Food and Drug Administration (FDA) approved Cholbam™ capsules..."

    "There are approximately 30 patients currently receiving Cholbam™ through an open label extension of these trials..."

    The pricing for Cholbam is in the range of $1.1 million PPPY (per patient per year)
    Jun 25, 2015. 12:12 PM | Likes Like |Link to Comment
  • Retrophin Needs Some Retro Pricing [View article]
    Retrophin is able to acquire drugs from companies like Asklepion and increase both the selling price and the paying patient population - the latter through targeted marketing, education and so on. This has been pointed out by other posters. This fact is being completely ignored by the author.
    The company is cash flow positive at this time. Because of this, the cash from the secondary offering, coupled with the cash from the sale of the voucher puts its balance sheet in a very strong position. This will enable RTRX to acquire other companies or drugs and fund its pipeline development.

    And what about the value of RE-024 and other pipeline drugs? I think RTRX could easily touch $100 if RE-024 is approved. My average cost is around $13 and I am not selling a single share!
    Jun 23, 2015. 03:49 PM | 2 Likes Like |Link to Comment
  • Is Afrezza Destined To Be One Of The Top Ten Medications Of All Time? - Part 2 [View instapost]
    Glad to be of service!
    I found the following quote by doctor.stockpicker to be nothing short of amazing (and I hope he is proven right in the coming years):
    "I started medical school in 1981 and believe that the only bigger bigger medical breakthrough in my time has been statins. I was in postgraduate training when Mevacor was released and the physician community was as skeptical of it as they are now of Afrezza. But we learned their benefits slowly and we will all learn the benefits of Afrezza at what I predict will be a much quicker pace."
    Jun 22, 2015. 07:37 PM | Likes Like |Link to Comment