Joshua Heller's  Instablog

Joshua Heller
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Stock investors are always asking what is the catalyst for value to be realized? I originally thought like this which lead me to take too much risk. I now focus on being patient, controlling risk, and minimizing permanent capital losses. These steps have lead to significantly better returns.... More
  • (TSCM) Q3 2010 update 0 comments
    Nov 7, 2010 9:05 PM | about stocks: TST (TSCM) closed at $3.01 on November 5th, 2010. 

    As I previously noted in my first instablog, TSCM is trading for almost the cash on the balance sheet.

    TSCM ended the quarter with $79.7MM in cash equivalents, approximately 2.9MM lower than last quarter.  TSCM had 2.9MM in capital expenditures, with $900,000 in dividends while receiving $900,000 from a sale of non core assets (  TSCM does not have any debt.  With a current market cap of $91.4MM, the stock market is valuing the existing business for only 11.4MM.

    The catalysts still remain for TSCM, higher advertising revenue (9% increase YoY) from a recovering US economy and higher subscription revenue (8% increase YoY) from a recovering stock market. 

    There are two new partnerships that I am excited about, which will drive new traffic to  A partnership with The Nightly Business Report (on PBS), with TSCM creating the editorial content on a weekly basis (running on Tuesday's show) and a partnership with Newsweek which will feature editorial content in both the print and online properties of Newsweek.  

    Also driving traffic, the mobile website version of ( has also been released.

    Disclosure: Long TSCM

    Stocks: TST
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