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Nat Stewart  

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  • SWK Holdings: A Micro Cap With A Solid Plan To Compound Shareholder Equity [View article]
    The marketing partner is often giving them cash up front plus a percent of revenue. If wanted to finance small biotech firms too, they would likely not give them a percent of revenue but rather just more cash up front at a discounted rate relative to the expected value of the revenue share. Why they don't do this, I don't know. They would rather minimize their initial outlay and risk, perhaps, and the small company wants (at least initially) the continuing revenue stream. I guess it is just not how their business model works. Try calling Brett Pope with your question, it is a small company.
    Jun 7, 2015. 08:42 AM | 1 Like Like |Link to Comment
  • CTO: Huge Hidden Value, Major Catalysts Imminent [View article]
    “Minto is very committed to Daytona and remains in an active growth mode throughout Florida,” Bullock said. “Minto is not a land speculator and would not have purchased a beach tract without an end game in sight.”

    That is very true, yet these zoning folks and planners should not drag their feet because they believe it is "in the bag". The saying is "don't look a gift horse in the mouth" and the fact is the is development is a gift for the economy of daytona beach - it will bring a truly massive economic benefit to the area. They need to push this forward, secure the deal and not make assumptions.

    I have no idea why but my google alerts did not find this article. Annoying. Thanks for posting it - I have a new completed article on the company and I need moderately rewrite to incorporate this updated info. Regardless, the situation still looks very positive - and I am not ruling out the land will not close in 2015 if the City planners stop dragging their feet - IMO the delay is a risk to the areas economy, and not professional on their part.
    Jun 6, 2015. 05:22 PM | Likes Like |Link to Comment
  • CTO: Huge Hidden Value, Major Catalysts Imminent [View article]
    User 6619731, are you literally just guessing on that time table, or do you have some factual substantiation of it?
    Jun 4, 2015. 01:06 PM | Likes Like |Link to Comment
  • Female Health Company Transitioning To New Strategy, But Receiving Legacy Business Valuation [View article]
    I wonder if their distributor in Brazil Semina has paid them yet.
    Jun 3, 2015. 07:50 AM | 1 Like Like |Link to Comment
  • SWK Holdings: A Micro Cap With A Solid Plan To Compound Shareholder Equity [View article]
    Only what is stated in the 10K and Proxy statements as well as their one conference call. I believe they shut down their fund and basically rolled it into their position at SWKH. As the Majority investor is a large hedge fund, it immediately gave them a stable capital base among other advantages.
    Jun 3, 2015. 07:47 AM | Likes Like |Link to Comment
  • CTO: Huge Hidden Value, Major Catalysts Imminent [View article]
    Golf course, the property for the beach club that Minto just purchased... I think this is going to be an incredibly desirable development property. The synergy, to use the overused phrase, is going to be amazing. Just consider what Minto and the Tanger outlets are going to do to the value of the surrounding land.
    Jun 2, 2015. 09:00 PM | Likes Like |Link to Comment
  • CTO: Huge Hidden Value, Major Catalysts Imminent [View article]
    David, U need to rethink what you are saying. That is perhaps the most illogical and wrongheaded bit of analysis I have ever seen.
    Jun 2, 2015. 12:41 PM | 1 Like Like |Link to Comment
  • National Beverage Corporation: A 6 Point Inspection [View article]
    Spoken like someone who really understands this company! We will be rewarded in the short term, and more importantly in the long term.
    Jun 1, 2015. 04:17 PM | 2 Likes Like |Link to Comment
  • How Uber's Autonomous Cars Will Reshape The Economy By 2025 [View article]
    That is a very good point. The idea that things always more towards an "efficient" solution seems to be false. Just look at the tax code. Imagine if it was a simple flat tax. For for the majority of people with non-complicated returns, the government could compute the figure itself and bill or refund the taxpayer as needed. That would end the entire consumer tax preparation industry and save an enormous amount of everyone's time.. But we don't have that. Instead we have a complex boondoggle of a tax code. If we can't fix the tax code, there might be less hope for "efficiency" in other areas than we realize.
    Jun 1, 2015. 10:35 AM | Likes Like |Link to Comment
  • Why VXX Loses Value Over Time: Another Look [View article]
    Stephen, isn't the issue that traders conduct semi-arbitrage (meaning not perfectly offset risks) between VIX instruments and the index options, and this links the VIX trading levels to options premiums which can be competed downwards depending on supply demand like anything else - which then indirectly can influence the forward curve.
    Jun 1, 2015. 10:26 AM | Likes Like |Link to Comment
  • How Uber's Autonomous Cars Will Reshape The Economy By 2025 [View article]
    My guess is that autonomous driving will catch on first in the long Haul Trucking industry and the Airline industry. Global corporations would love to replace millions of decently paid americans with "robot" drivers that never sleep and never get tired.

    On the consumer side, I don't expect it to catch on in a huge way within the generation of most people reading this. More like our children or grandchildren.

    I personally would never want an autonomous car. Indeed, I would never buy a new sports car because they no longer offer a stick shift!

    People continually say the future will be like that past in that past predictions did not come true. Yet they ignore the mind-blowing changes that occurred in the 20th century. Now, as machines become more effective and approach "thinking skills" we will find that most productive work can and will be done by machines.

    If this means people find other values in life to pursue, or the government makes fake jobs for most people (That process is already well on its way), masses of people are pushed into poverty, or the government creates a guaranteed income making everyone "wealthy" I do not know.
    May 31, 2015. 08:17 PM | Likes Like |Link to Comment
  • How Uber's Autonomous Cars Will Reshape The Economy By 2025 [View article]
    I tend to agree with the author, though I think his adaptation targets are far to aggressive. A big issue is that the economy of the future will not need workers. The average person, much less the person of lower ability, will find no place in the division of labor, technological economy. Either we adapt to this, or the government is going to need to create millions of make-work jobs to keep people busy and with an income.
    May 31, 2015. 03:08 PM | 3 Likes Like |Link to Comment
  • Why VXX Loses Value Over Time: Another Look [View article]
    Your belief describes a particular volatility regime or period in time, it is not universally or uniformly true of VIX futures contracts. After a 3 year period of highly compressed volatility with no periods of sustained backwardation, it is entirely understandable.

    However, it was not true for the full time period over which I have traded VIX futures, the research I have done on individual contract data for the full period of their existence, or the research of Academics or other highly sophisticated traders that I have read or had discussions with.

    I used the example of Crude Oil because much of the terminology was developed for that market, and similar principles apply.

    Fixed beliefs such as, "volatility is always priced at a premium" is one reason why so many volatility sellers end up losing all (or more) of their profits in a week or even a day or two. As a futures trader with nearly 20 years of experience I have seen traders blow up like this many, many times.
    May 31, 2015. 09:41 AM | Likes Like |Link to Comment
  • CTO: Huge Hidden Value, Major Catalysts Imminent [View article]
    Link?
    May 30, 2015. 08:19 PM | Likes Like |Link to Comment
  • Why VXX Loses Value Over Time: Another Look [View article]
    Futures are not always priced at a premium. There is nothing fixed about it.

    The futures create profit signal that entices market participants to either store a commodity or bring it to the spot market for current use/processing. A Futures discount (relative to spot) creates an incentive for consumers/processors to defer use, while encouraging producers to sell in the spot market. A steep contango market and premium in deferred contracts incentivises storage on the producers part and consumption on users/processors part.

    Prior to around 2004 Crude Oil traded consistently at a discount to spot, which created a persistent positive roll yield for buying long-dated futures contracts. It can be true with VIX futures as well. Empirically, a steeply backwardated market can set up conditions where buying VIX futures is on average profitable.

    None of these things are fixed. If fundamental supply/demand conditions change or too many people try to game the relationships, they break down and change.
    May 29, 2015. 11:55 PM | Likes Like |Link to Comment
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