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Stephen Simpson, CFA

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  • Orchids Paper Products A Paper Tiger, But In A Good Way [View article]
    This is not an investigation. No law firm has the authority or standing to pursue such an investigation. It's simply a cynical bid for attention and fishing for plaintiffs to file a class action suit.
    Apr 16 06:16 AM | Likes Like |Link to Comment
  • Cal Dive Still Waiting For That Offshore Recovery [View article]
    They haven't done all that well in Australia so far and they don't really have much scale.
    Apr 15 04:37 PM | 1 Like Like |Link to Comment
  • MSC Industrial Continues To See An Early Cyclical Recovery [View article]
    I'm expecting the operating expense ratio to improve pretty significantly over the next few years as BDNA is integrated. I don't have my models with me here, so I can't quantify it.

    As for Jacobson's sales, I think it's just basic estate planning.
    Apr 11 11:17 AM | Likes Like |Link to Comment
  • MSC Industrial Continues To See An Early Cyclical Recovery [View article]
    Here's the thing. I'm not a short-term guy. I would love to buy every stock at it's all-time low and sell every one at it's all-time high, but that's just not going to happen.

    I play a long-term game, but I know a lot of readers here do not. So, when I say I'm bullish on MSM, that means I think it's a multi-year winner. But I also know that there are readers who, if they buy at $90 and see the stock trade down to $85, will panic and freak out.

    So, I try to walk that line between identifying well-run businesses at reasonable or cheap prices (long-term) and acknowledging some of the short-term realities.

    Does that make sense?
    Apr 11 10:32 AM | Likes Like |Link to Comment
  • MSC Industrial Continues To See An Early Cyclical Recovery [View article]
    That is not what I said at all.
    I said here, and in other pieces, that I do believe that mgmt will drive those margin improvements. I likewise said that I expect a double-digit annual total return.
    I also said that the stock is momentarily at the high end of its typical valuation range and there may well be an opportunity to buy cheaper. I have owned this for a long time and intend to continue owning it for a long time.
    Apr 11 10:02 AM | Likes Like |Link to Comment
  • Vocus May Struggle To Exceed Even Modest Expectations [View article]
    Indeed.
    http://seekingalpha.co...
    Apr 11 09:53 AM | Likes Like |Link to Comment
  • MSC Industrial Continues To See An Early Cyclical Recovery [View article]
    You can't look at the change in operating margins without taking into account the BDNA deal. Driving costs out of that deal is critical to their performance over the next three years.
    Apr 11 09:08 AM | Likes Like |Link to Comment
  • Quality Doesn't Come Dirt-Cheap With Franco-Nevada [View article]
    Where did I say that I preferred FNV over SLW?
    Apr 10 05:23 PM | 1 Like Like |Link to Comment
  • Parker Drilling Starting Slow, But On A Better Path [View article]
    Thanks, starcorral.
    Apr 9 09:30 PM | Likes Like |Link to Comment
  • Marlin's Retreat Starting To Get Interesting [View article]
    Danggit ... shouda mentioned Umpqua. Thanks for pointing that out!
    Apr 9 09:24 PM | Likes Like |Link to Comment
  • Can Denbury Resources Recover Market Enthusiasm? [View article]
    They have swaps and collars in place for 2014 and 2015.
    Apr 4 04:23 PM | 1 Like Like |Link to Comment
  • Can Denbury Resources Recover Market Enthusiasm? [View article]
    I think you might be confusing field operating costs with F&D costs. Their F&D costs are indeed exceptionally low. Their LOEs are nowhere near the lowest, and their relatively high fixed cost structure makes them quite sensitive to oil prices.
    Apr 4 04:23 PM | Likes Like |Link to Comment
  • Glatfelter Rolls With The Punches And Changes With The Times [View article]
    Yeah, Neenah was like that for me. Thought it was a little too pricey six months ago ... and then it jumped another 30%+.
    Ugh.
    Apr 4 06:17 AM | 1 Like Like |Link to Comment
  • Can Denbury Resources Recover Market Enthusiasm? [View article]
    $28.50/BOE is the LOE for the full year. Add the interest and G&A and you get $38.75/BOE for FY 13 (and $39.33/BOE for the fourth quarter).
    Apr 3 06:37 PM | 1 Like Like |Link to Comment
  • Atlas Copco Is A Gem, Albeit An Expensive One [View article]
    One good reason that there's been no additional articles on ATLKY is that there is no money in writing on ATLKY!
    Apr 3 06:30 PM | Likes Like |Link to Comment
COMMENTS STATS
1,375 Comments
669 Likes