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The Lonely Value Investor

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  • Kyocera: An Undiscovered Growth Investment [View article]
    The real beauty of KYO is on the balance sheet.
    Mar 13 05:17 PM | 2 Likes Like |Link to Comment
  • Geron: Buyer Beware [View article]
    Take heart Geron shareholders: The company has not diluted your ownership in the last 12 months... probably just a short-term reprieve, however, since GERN is still burning cash. Market value when I wrote this piece... $650 million. And shares outstanding have risen from 100 million to 129 million in those 3.5 years. The market cap is slightly lower now. But shareholders have been diluted even further.
    Mar 12 01:12 PM | Likes Like |Link to Comment
  • Harmony: Bad News Factored In Is Good News For Investors [View article]
    Keep up the good work, Holmes. I love the contrarian bent and I'm long HMY. I find it amusing that you hold to quaint old time ideas like actually reading annual reports (sarcasm intended) ;-) As a value investor, I guess it should be seen as a good thing that so few people look at or care about financial statements anymore.
    Dec 23 01:51 PM | Likes Like |Link to Comment
  • Cooper Tire: Offering An Upside Of 43% In Two Months With Very Limited Risk [View article]
    Never been called politically correct before.... also never been called holier than thou. In any case, those who write articles for SA know that the author doesn't typically write the title. They made quite a few of mine into promotional materials. In any case, people looking for investment insights should be smart enough not to make any decision based on a headline. Part of the comment you posted was constructive and some of it was just gratuitously nasty. I'm sure you know which is which. I'll leave my comment stand. Interesting that I didn't mention any names.
    Dec 17 06:24 PM | Likes Like |Link to Comment
  • Cooper Tire: Offering An Upside Of 43% In Two Months With Very Limited Risk [View article]
    So the author was wrong... most of us make mistakes every day. But there are those commenters who just can't leave anything alone. They have to get on here and spew insults. It is usually someone anonymous, who has not penned even one article. It is not healthy for the SA community and says a great deal more about the insulter than the insultee. Sad. I applaud the author for the effort and generating discussion. Everyone on this site is striving to improve their investing. How about we do it without the insults and personal attacks?
    Dec 16 05:57 PM | 4 Likes Like |Link to Comment
  • Molycorp: Overpriced on Rare Earth Excitement [View article]
    Price when I wrote the above $34+... price now? ouch.
    Oct 3 10:43 PM | Likes Like |Link to Comment
  • Vodafone: Value Without Verizon Wireless? [View article]
    VOD's sale of SFR to Vivendi was well timed and at a great price. This sale (should it happen) looks to be at a great price. The company has hardly been profligate with the VZ Wireless dividend money to date. I think management decision making in the recent past has been quite good. What shopping spree do you foresee? You level an accusation but don't do much to back it up.
    Sep 1 01:01 AM | 1 Like Like |Link to Comment
  • Ignore Mr. Market And Focus On Digital Realty's Fundamentals [View article]
    Yes, the capital markets are wide open for the likes of DLR and rates are low. It will be forever thus? Sure. Hope springs eternal. Mr. Market registered his opinion again today. I think you are purposefully missing some of the salient points being made by those who disagree with you. I don't have a dog in this hunt, but I also don't believe that trees grow to the sky, at least not uninterrupted ;-)
    Aug 19 11:28 PM | 1 Like Like |Link to Comment
  • Absolute Value: LinkedIn Vs. Dolby Labs [View article]
    Relax, Barribas... sold DLB at a tidy profit months ago... did you check the date of this article???
    Aug 19 11:24 PM | Likes Like |Link to Comment
  • Ignore Mr. Market And Focus On Digital Realty's Fundamentals [View article]
    Buffett and other value investors have also warned investors about companies that have to constantly access capital markets. DLR clearly falls into this category. Are there risks in this? No?

    It would be nice to have the experts address some of the very real questions being raised by skeptics. The effect rising interest rates will have on DLR. FFO and capex/depreciation have been mentioned by some commenters. FFO seems to imply that depreciation is not a real expense... true, it is not a cash expense, but it is supposed to approximate an actual cost... Do DLR's buildings not deteriorate with age? FFO seems to overestimate the long term earnings power of any REIT. Is DLR's success in recent years due to some inherent brilliance on their part or just a function of declining interest rates? Seems that all REITs, regardless of quality, have been levitated. Is DLR doing anything that can't be duplicated? Won't competition (lower cap rates) and rising funding costs have a long term negative effect?

    It seems DLR has (at least according to Mr. Market) hit the first real speed bump in years, if not its history. It will be interesting to see how shareholders react to it. They have not had to deal with many clouds in the sky.

    The Highfield's "short" can be called "foolish" but that hardly addresses the issues they raise. Perhaps to DLR bulls the criticisms are not valid, but DLR's undervaluation is far from self-evident either.

    there are many reasonable arguments to be heard on both sides. It would be nice to hear more of them.
    Aug 18 10:01 PM | 2 Likes Like |Link to Comment
  • McDermott - There Are Some Light Points In McDermott's Troubles [View article]
    I agree with this... current management has royally screwed up and should be shown the door. My only point is that the market seems to only see the negative. They do have net cash and assets of value... it could be a LOT worse.
    Aug 18 09:31 PM | Likes Like |Link to Comment
  • McDermott - There Are Some Light Points In McDermott's Troubles [View article]
    the recent conference call transcript speaks directly to your concerns... frankly given the balance sheet and the apparent lack of any interest in this article (as evidenced by the number of comments) makes me bullish. The bad contracts in its pipeline appear to be very manageable. And given the cash, assets, and lack of debt, the backlog issues need to be put in context. I think the market is overweighting them.
    Aug 14 08:31 PM | Likes Like |Link to Comment
  • Nearly Out Of Fresh Ideas Except For Cash [View article]
    Extremely insightful, thank you!
    Jul 30 09:22 AM | Likes Like |Link to Comment
  • Vivendi: Well Defined Strategy, History of Significant Dividends Make for a Bargain at Current Price [View article]
    I apologize... I misunderstood your previous post then.

    At the end of the day, the debt and declining margins are largely due to the same thing... the purchase of the remaining stake in SFR. Vodafone took Vivendi to the woodshed on that deal. Well played. A stupid price that Vivendi played.

    Even with that negative, the assets are there and we are starting to see a light at the end of the tunnel. Given the time that has passed, it will end up being a mediocre investment at best for me.
    Jul 29 08:37 PM | 1 Like Like |Link to Comment
  • Vivendi: Well Defined Strategy, History of Significant Dividends Make for a Bargain at Current Price [View article]
    I'm sure not all of your investments have turned out as you planned. There really is no need for sarcasm. I still think that the Vivendi pieces are worth more than the whole... for some of the reasons you outline.
    Jul 29 02:18 PM | Likes Like |Link to Comment
COMMENTS STATS
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