Seeking Alpha

Weighing Machine

 
View as an RSS Feed
View Weighing Machine's Comments BY TICKER:
Latest  |  Highest rated
  • salesforce.com beats by $0.01, beats on revenue [View news story]
    and?
    Aug 21 06:05 PM | 2 Likes Like |Link to Comment
  • salesforce.com beats by $0.01, beats on revenue [View news story]
    Look back at what oracle was EARNING when it was at $5 billion in revenue and growing 40% and you will see there is something wrong with CRM

    http://seekingalpha.co...
    Aug 21 04:44 PM | 4 Likes Like |Link to Comment
  • salesforce.com beats by $0.01, beats on revenue [View news story]
    they lost less money than last year - hurray!
    Aug 21 04:09 PM | 1 Like Like |Link to Comment
  • Key Operating Metrics Indicate That The Marin Software Sell-Off Is Incredibly Unwarranted [View article]
    lots of insider buying here...while generally a good sign, in my experience when insider buying comes from board members with a finance background, it is a recipe for $$$ making
    Aug 15 05:48 PM | Likes Like |Link to Comment
  • Scientific Games: This Equity Stub Has Significant Upside In The Making [View article]
    Issacs spent $300k of his own cash buying shares earlier this week
    Aug 15 05:45 PM | Likes Like |Link to Comment
  • 3 Overvalued Stocks To Consider Shorting [View article]
    Good point - brokerage houses have never been proven to be wrong...it is best to follow them blindly as they have absolutely no conflicts of interest...it is possible i am being facetious.

    Reading the commentary of the longs makes me even more confident in my short position...I may have to add to my SCTY and PLUG positions
    Aug 15 02:48 PM | 5 Likes Like |Link to Comment
  • 3 Overvalued Stocks To Consider Shorting [View article]
    Can I please get one of your credibility enhancing 'shorts never win' flyer? Thanks, WM
    Aug 15 02:35 PM | 3 Likes Like |Link to Comment
  • Apptigo International: Why This $40 Million Company Is Heading To $0 [View article]
    nice article. after the CYNK debacle, I am more wary of shorting these 0s as the trap could be set for short sellers rather than naive longs. looks like insiders control a huge % of this company which concerns me...
    Aug 15 02:02 PM | 1 Like Like |Link to Comment
  • Why Do Insiders Love Kingsway Financial Services? [View article]
    As evidenced by recent operating results, KFS has turned the corner. In the first half of the year, the company reported the following:
    - Insurance business now underwriting profitably (after years of losses). Further, reserves are stated on the most conservative allowable basis which means there is some likelihood that there are excess reserves which could be released over the next 3-5 years. With strong investment results and profitable underwriting, over the cycle, the insurance business should generate solid double digit returns (with the lumpiness implicit in such an operation).
    - Assigned risk solutions (fee business) is cash generative and as expected, management is looking to grow the business via organic expansion and acquisition over the years to come.
    - The warranty business (fee business) is growing rapidly and generating strong economic results even though these are masked by GAAP accounting.
    - KFS has creatively structured a new merchant banking (mini private equity vehicle which was listed in early April and trades under the ticker PIH) will allow KFS to raise additional capital for acquisitions without damaging the eligibility of its NOLs (see below).
    - KFS continues to have a huge net operating loss position ($17+ per share) and will not be paying cash taxes for quite some time.
    KFS valuation is much fuller (I have reduced my position 75%; I may add further on weakness), KFS is positioned be a compounder for many years to come. As you can see above, KFS has significantly increased its transparency – such a breakout wasn’t possible when I wrote the original note! When management was accumulating stock (which is what alerted me to the idea in the first place – today management and the board own 37% of the company), the investment case was very much a mosaic. As part of its 2013 annual report, the company now includes a very Warren Buffet-esque business and philosophy narrative – if you have the time it is certainly worth checking out http://bit.ly/1oAwbEH. KFS management has a very long term time horizon and given its huge NOL position and improved capital position is likely to deploy capital in a value accretive manner for years (decades) to come. The company’s small size should allow it to pursue off the radar opportunities (which can have a meaningful impact on the group’s valuation). As mentioned at the end of the note, I thought KFS could eventually be considered ‘sexy’. Though it isn’t quite there yet, it is much closer than when the note was originally published. Today, I estimate an intrinsic value of $9 (30% upside vs. 130% at time of publication). That said, I acknowledge that the skew around the target is to the upside and am happy to retain a small stake as the valuation is undemanding and I expect management to create significant value for shareholders over the medium term.
    Aug 15 10:35 AM | Likes Like |Link to Comment
  • SFX Entertainment Reports Second Quarter Financial Results and Provides Update on Recent Developments [View article]
    what a terrible mess
    Aug 14 11:02 AM | Likes Like |Link to Comment
  • voxeljet AG Reports Financial Results for the Second Quarter Ended June 30, 2014 [View article]
    what a horrible company!
    Aug 13 05:18 PM | Likes Like |Link to Comment
  • Keck Seng: 4-Star Real Estate Play Offers 5-Star Return With 149% Upside To NAV [View article]
    Nice piece. I'm surprised this wasn't a top idea...

    I'm long 184
    Aug 13 02:48 PM | Likes Like |Link to Comment
  • 3 Very Cheap Stocks With Insider Buying [View article]
    Another buy at ASPS...
    http://bit.ly/1s7Y1qS
    Aug 13 02:24 PM | Likes Like |Link to Comment
  • FuelCell Energy +3% AH as Cowen upgrades [View news story]
    I would guess 0.25
    Aug 12 08:54 PM | 1 Like Like |Link to Comment
  • HCI Group: Q2'14 Results Show Business Model Strains [View article]
    Interesting piece. Can you clarify 1) the nature of the of the premium related to reinsurance structures and 2) explain why you deducted the reinsurance structure premium. Thanks
    Aug 11 11:31 AM | 1 Like Like |Link to Comment
COMMENTS STATS
603 Comments
822 Likes