Violent Capitalist

Vistaprint: The Short Case

Andrew / SA

VPRT typo in disclosure

Finding Value in the Payday Loan Sector

umm a 36% cap, or a $15 per 100, would be significantly lower than the 240% apr's these guys are offering now... so there is room for the fact that the apr's will be constrained, not to mention their higher returns on capital - potentially can lead to a dangerous situation if investors make a bull market out of this.

working capital is also jumping up across the board (receivables, inventory, and PPE), and as that steadily increase the greater the likelihood that they will have to writedown their assets as time passes.

but i do agree EZPW is prob one of the better companies in this space.

Finding Value in the Payday Loan Sector

umm a 36% cap, or a $15 per 100, would be significantly lower than the 240% apr's these guys are offering now.

working capital is also jumping up across the board (receivables, inventory, and PPE), and as that steadily increase the greater the likelihood that they will have to writedown their assets as time passes.

but i do agree EZPW is prob one of the better companies in this space.

Why I'm Investing in Michael Dell

increasing evidence of pending acquisition

www.reuters.com/articl...

Why I'm Investing in Michael Dell

its not to announce a strategy, because then you'll be too late

everyone knows they HAVE to use the cash somehow, even if they don't pull the trigger - stakeholders will inevitably make cause for an acquisition (employee defects, shareholder activism, analyst reports, etc)

businessweek, barrons, wsj, and others are all writing about it now as Dell ponders which acquisition to make. Look for a deal to happen within the next year.

Why Lampert Invested in Acxiom

thanks - this is very conservative analysis, one that doesnt even factor in a rebound in the economy - not exactly how sure you can be of a company doubling/tripling in a rebound.

nevertheless, i dont think the economy will rebound that strongly anytime soon - you should look towards asia for those type of opportunities where companies still trade close to cash on their books (CGA, CFSG as examples - AOB is one that hasn't budged much yet)

Prospect Capital: A Relatively Safe Dividend Yield

this is a shocker, i wasn't expecting it to be priced in that low - $9/share I thought was more appropriate, a 10% discount to market.

The dividend may get cut - but not by 50%, just doesnt make sense, they may pare it back 20% (to reflect the resulting dilution), they'll have enough cash to cover dividends, and with debt at $138 mil + their claim to potentially increasing their credit lines, I'm sort of confused about what exactly is going on here at this present moment.

this may have been a deal in the making since early in the year, and PSEC may have thought it still better to raise cash if possible?

Still by selling puts at a 10 strike, I can watch this unfold on the sidelines...

Debunking Citron's Hit Job on World Acceptance Corp.

the part on the receivables is in his part 2 is a very valid point, especially following a bull credit cycle those receivables can be a big problem - lawsuits or not.

Prospect Capital: A Relatively Safe Dividend Yield

yea but when slip ups happen you get killed then - i plan on holding for 4-5 years at min, would rather have a company cover dividends from interest and reinvest capital gains to earn higher interest/dividend income in the future, and for asset valuations i dont know if this is the bottom or not so I rather stick to a more conservative management style.

btw, book values on all these guys' balance sheets are probably overstated currently..

Prospect Capital: A Relatively Safe Dividend Yield

just an fyi 4Q earnings expected to come in at .30-.40/share

that sucks, but its not terrible - there will probably be some weakness in the shares for the rest of 2009. Nice to sell puts to lock in a lower price (risk reduction). $7.50 will be way too low of a share price for these guys and I'll look to that end to open another short puts position during the rest of 2009.

stickto - ARCC is not of the same level, their capital structure is not more conservative - I dont' like the fact that their leverage is 80+% of net assets, forced to reduce their dividend, and a history of paying higher dividends than net interest income - i just can't fathom why that's a good long-term policy!

Prospect Capital: A Relatively Safe Dividend Yield

psec is not as levered, not as dependent on capital gains

it sounds like it, but they arent the same and thats why these guys have only lost about 30% of their value-

American Superconductor: You Have to Read It to Believe It

HTS wires sorry, and order placed by LG cable in Korea

American Superconductor: You Have to Read It to Believe It

there's always legitimacy issues when it comes to china, but a lot of projects are made with grand plans, starting on small scales, and then ramped if they are successful.

but what I like about AMSC is their high efficiency transmission lines which is being tested by LIPA (long island power authority) and a legit order was placed by a legit asian firm (i forgot if it was japan or korea).

HTC wires, HTC I believe is their acronym, are more expensive and would be ideal in high density population areas where wires go underground. The market is huge, it is still a couple of years away, and is really still the center of the long-term AMSC puzzle.

I really don't put much value into their wind turbine business anyways - and they look overvalued at anything above $20/share

-long amsc, short calls @22.5, so I should be cashing out this month

Is This Rally in Whirlpool for Real?

I just wrote an article with a little more insight to financials and valuation, I suggest writing some puts to make some income or take in an effective short position at $53/share.

Hopefully SA will publish shortly..

Options to Capitalize on the Sun Buyout

bidding war or not, this is a way to earn 8%+ with minimal risk.

if the bid price goes up and the spreads widen more, i'll be happy to place another arbitrage trade in!