Mark Luo

Long/short equity, deep value, contrarian, long-term horizon
Mark Luo
Long/short equity, deep value, contrarian, long-term horizon
Contributor since: 2012
I look forward to it.
Agreed. Neither is Usana if we're on this subject.
Thanks for your comments!
Thanks for your comment jlb. I agree with your remarks. My next article may delve deeper onto CHTR's subscribers and product mix/growth.
As for Warren Buffett, I haven't been able to find his bull thesis, not even a hint in his 2014 annual report. I am reluctant to insinuate that Mr. Buffett is wrong, but I'm sticking to what I've seen in CHTR's financials. But hey, he's made a tidy profit so far.
As for John Malone, this is what WSJ had:
"Analysts said the 72-year-old Mr. Malone may be interested in Charter because of the potential for consolidation in the cable industry"
http://on.wsj.com/1CtIqKU
I get the feeling that this is the general bull view of CHTR in the market. Even if that were true, you can only consolidate so much, also subject to regulatory approval, before you need to grow organically.
Yea, i admit, didn't see that coming. But I still remain bearish on the fundamentals.
Usana is still buying back their stock from their $200MM buyback authorization. I imagine that this is the reason for the price action in the last fiscal year. However, earnings release in the last 2 quarters has sent the stock plumetting only to be artificially inflated until the next release. I'd imagine this will continue at least until year end. Plus insiders have been selling and exercising their stock. I hope your price target is low enough.
Will probably write an article soon despite being quite late. Long story short, it's bad. Hong Kong was written off completely, and fundamentals continues to be weak/declining.
Great article QTR. "Michael Johnson is a predator ..It's time to shut the company [Herbalife] down". Truer words have never been said.
Great article QTR and Sam. Keep up the good work. I'm optimistic that regulators will rerquire MLMs to disclose retail sales, which will be the start of the end for Herbalife.
Hear hear! Great article QTR. Shutting down Herbalife is a societal moral obligation. It's time for regulators to act.
Excellent article. $HLF is destined to fail. Ignore the longs, they're too far gone.
"Financial empowerment"? Why don't you just spell out how much does an average "distributor" earn in a year, and we'll be the judge.
Herbalife, this is overkill.. couldn't you have put all of these on one press release?
Many pyramid schemes will claim that their product is selling like hot cakes. However, on closer examination, the sales occur only between people inside the pyramid structure or to new recruits joining the structure, not to consumers out in the general public. -FTC
http://goo.gl/OgXUoe
Thanks for the comments everyone. Will do a deep dive into Usana's insider trading and buybacks to iron out the details.
weak argument is weak
I disclose that I do not currently have a monetary position in the short thesis nor will I initiate one any time soon. However, I wouldn't be writing this article if I didn't believe that the short thesis is profitable, although this isn't for the faint of heart. You seem to have a long view on Usana, but you also disclose that you don't have a stock position either, so I guess you'll understand. I am simply treating this as a business case; an intellectual exercise if you will. As for yourself, you owe it to your comments to disclose whether if you're an Usana distributor or any way affiliated with Usana. Thanks Mr. piometer.
Suggested is synomous with recommended (which they use), which doesn't prove that associates make actual sales at the "recommended" price either. And even had they did, Usana paid out more comission than you can profit from selling at the recommended price. If you think you made a point with semantics, think again.
Your comparisson to other overpriced vitamins is a tacit acknowledgement that it's overpriced. I'm merely stating that's it's overpriced, and my article looks to find how it can sustain such a premium.
This "13000" preferred customers number doesn't debunk anything nor is it verifiable. You can also say anyone who is long a stock and writes about it is trying to manipulate it. Thanks for trying!
“In reality, they were operating a pyramid scheme that preyed on investors in particular ethnic communities, leaving them with nothing left to show for their investment.” Sounds familiar.
You might want to address the pyramid scheme issue...
It's darkest before the dawn. Ackman will be vindicated.
THanks for the article but hmm.. CGI messed up with Healthcare.gov, with their reputation at stake. They have a lot of debt on the contrary ($2.5B). And they are incredibly overvalued at 100X P/E 2012 earnings. We'll have to agree to disagree.
great article. can't wait for ackman's new info at the robin hood conference.
Sorry, that's top secret proprietary information :) but if you would like more details on my assumptions, I'd be happy to share.
Great analysis and writing Matt. Herbalife is a total fraud. Sad to see so many Herbalife hucksters on this page, rather than actual investors.