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The Lucky Pilot
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I am an engineering student who also has a keen interest in investments. My three main influences are Graham, Damodaran, and Greenwald.
  • A 40-Year Look At Chase Corp.

    Presented below is a brief 43-year timeline for Chase Corp. Details below only contain information about key metrics (e.g. net income, book value), corporate governance, and details of business operations. Information was retrieved from SEC filings dating back to 1995, and Moody's/Mergent's Manuals (Industrial and OTC Industrial) dating back to 1970.

    1969- Known as Columbia Technical Corp. Business described as "manufactures electronic display lines and provides key technical consultation services." CEO- Dr Nikit Ordjanian, Treasurer- JR Price. Revenue: $1.2 million, net income: $52 thousand, book value: $929 thousand (about $1 ½ per share).

    1971- Acquires Chase & Sons Inc. in October, now does business in manufacturing insulating materials and tapes for electronic uses as well as previously mentioned business.

    1972- CEO-FM Chase, President- EL Chase, Vice-Pres.- Nikit Ordjanian, Treasurer- LS Daly. Revenue: $4.9 million, net income: $164 thousand, book value: $2.9 million

    1975- Now develops protective coating products for oil and gas pipelines, as well as membrane coatings for the construction and transportation industries. Revenue: $19.5 million, net income: $1.8 million, book value: $4.3 million

    1976- Enters into solar cell industry, producing its own line of solar energy products. Also begins manufacturing rubber and other chemical compounds.

    1979- Enters into two joint ventures. The first with Vocon Inc. to develop low cost thin film cells. The second with Surftex Inc. to develop and sell liquid coal fuel systems. Revenue: $13.6 million, net income: $0.14 million, book value: $4.3 million

    1982- Net income: -$0.15 million

    1984- Cancels joint venture with Surftex Inc.

    1985- Treasurer: WW Carter. Revenue: $22.3 million, net income: $0.44 million, book value: $5.22 million

    1988- Net income: -$2.8 million due to a $2.6 million charge for deferred compensation. Changes name from Columbia Chase Inc. to Chase Corp.

    1989- CEO, CFO: WW Carter, COO: PR Chase.

    1995- Pres. & CEO: PR Chase, CFO: E Chadwick. Sales: $32.3 million, Net income: $1.93 million Book Value: $20 million. Enters into a joint venture with The Stewart Group Ltd. of Canada to produce products in the fiber optic cables market.

    1997- Officially enters into the electronic manufacturing services (aka EMS) market purchasing a majority stake in DC Scientific

    2000- Sales: $68 million, Net income: $5.8 million, Book Value: $25.2 million

    2010- Sells off its EMS businesses.

    2011- Chairman & CEO: PR Chase, Pres. & COO: AP Chase. Sales:$121 million, Net income: $10.9 million, Book Value: $91.9 million.

    Disclosure: I am long CCF.

    Jul 23 12:09 AM | Link | Comment!
  • A Look At The Price Fluctuation Of Gold

    The following is a brief point about the historical price of gold over a 40-year period. (source: search.yahoo.com/r/_ylt=A0oGdW6YEZJPD3UAB19XNyoA;_ylu=X3oDMTE1MXYwdHRpBHNlYwNzcgRwb3MDMQRjb2xvA3NrMQR2dGlkA1JDRjAzNF8yNDE-/SIG=1231vivl2/EXP=1335001624/**http%3a//www.nma.org/pdf/gold/his_gold_prices.pdf )

    Price in 1972: $58.42

    Price in 1977: $147.84

    Price in 1980: $615.00

    Price in 1990: $383.51

    Price in 2000: $279.11

    Price in 2010: $1224.53

    My interpretation is twofold: 1) Gold fluctuates like any other asset value and can form bubbles. 2) Gold can be a hedge against perceived inflation in the short-term, but must be held for a minimum of 20 years to qualify as a true hedge against long-term inflation.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Apr 21 1:59 AM | Link | Comment!
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