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Chris DeMuth Jr. is the founder of Rangeley Capital LLC. Rangeley is an investment firm that focuses on event driven, value-oriented investment opportunities. Rangeley Capital and his value investing forum, Sifting the World (StW), search the world for misplaced bets. Rangeley exploits them for... More
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  • Make It A Double (Discount) 2 comments
    Apr 11, 2014 3:43 PM | about stocks: CWTR

    (click to enlarge)

    Down does not mean cheap. While CWTR is down over 99%, its equity is not a bargain at $0.12 and, if fact, is probably expensive. Worthless, even. Their chairman was a big seller of his stock (as it turned out, with good reason). Management's track record was poor. Their turnaround failed. This is a brutally competitive industry. For some reason, successful catalog companies repeatedly feel the need to try their hand at running stores, despite the crowded market. Earlier today, they filed for bankruptcy. They will have sales next month to liquidate their inventory.

    While high inventory is bad for shareholders, it is great for shoppers. If you are a veteran bargain hunter, you might consider their deeply discounted gift cards for sale on the secondary market. There is plenty of supply available at a 23% discount. Unlike other discounts, discounted gift cards can readily be combined with other sales. As of today, everything is 40% off (that is 53.8% off after use of the gift cards) and the outlets are 50-70% off (that is 61.5-76.9% off with the cards). The prices will probably drop from there. If you were able to short a few shares over the past few years, you should have enough saved up for some new clothes.

    Stocks: CWTR
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  • Placebo Investment Advice
    , contributor
    Comments (4097) | Send Message
    Did photo above come from the set of "Game of Thrones"? If you take that post-modern medieval costume off the blonde model and put it on a typical portly older customer, it's easy to see why CWTR ended up Sh*twater Creek without a paddle.
    11 Apr 2014, 04:19 PM Reply Like
  • TimeOnTarget
    , contributor
    Comments (3679) | Send Message
    @WallStreetDebunker --


    What an insensitive thing to say. I'm pretty sure she is an East European Refugee. Probably Ukrainian come to think of it . . . .
    12 Apr 2014, 12:23 AM Reply Like
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