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  • Angie's List +15.2% AH; company reportedly exploring sale [View news story]
    I would further clarify that whoever purchases the company has to contend with the 60 million $$ of new debt they just took on, and the various restrictive covenants that come with it.
    Not sure I should cash in my short just yet
    Oct 1 10:45 AM | Likes Like |Link to Comment
  • Angie's List: Down, But Not Out [View article]
    Pardon me for being sceptical, but you really haven't said anything here that those who us, who have taken a short position haven't been hearing for awhile.

    I find it difficult to understand why you would use the term 'decent balance sheet' for a small company with negative equity and no profits

    I think the old cliche about the definition of insanity is doing the same thing over and over while expecting different results is here applicable; the company consistently spends more and more in marketing and optimization yet never seems to be able to turn this into profits. Maybe because its business model is fundamentally flawed and so barring a major change in model, rather than just trying harder, I do not see a great chance for a major turnaround taking place. I suspect a takeunder is the best they can hope for, and I would not be surprised if managment is pursuing just that
    Sep 26 11:11 AM | 8 Likes Like |Link to Comment
  • More Reasons To Short Angie's List [View article]
    So what do you think is the prospect of a 'takeunder' ie selling out to private equity at maybe $9 a share - which would put the price at 500 million, easily affordable by today's Masters of the Universe - and then maybe they go to a free model or try to sell the company piecemeal? I think it is a distinct possibility as 1) The insiders have stopped selling 2)there was an investment buy of shares the end of last month and 3) the short interest is declining, even though the financials are clearly deteriorating, usually the opposite happens; and 4) I have been happily short this piece of horsefeces for awhile and all good things must end eventually?
    Sep 9 10:06 AM | 1 Like Like |Link to Comment
  • Angie's List - Time For Plan B [View article]
    But then aren't you contradicting the authors thesis with a company that right now ain't making it in the real business world; no profits, negative equity, massive insider sells and recent layoffs. If they go free, I don't see a realistic way that they will be able to do that without massive marketing spend and thus the continued problem of unprofitability.
    interesting topic and discussion, though. Quite apart from my own financial interest, I am looking forward to see how this plays out in the next year or two. I'm betting take under by the way, but who knows?
    Aug 29 02:43 PM | Likes Like |Link to Comment
  • Angie's List - Time For Plan B [View article]
    I think the market is saying 'sell when you can' but as I am short, I suppose that is self-serving. I must say Mr Blum, I can't believe management hasn't strongly considered this already, nor do I think the market would reward the stock if they did
    Aug 28 03:14 PM | Likes Like |Link to Comment
  • Angie's List - Time For Plan B [View article]
    Well, I am happily short on this piece o' poo and seem to make money off of it every quarter, but to keep the discussion serious: I think plan B may be a little too late for them. Right now the only cachet they have among their service providers, who I believe make up almost three quarters of their revenue, is that they are a premium service and hence their good reviews are worth something. if I as a service provider hear thay are now giving away free memberships I might start wondering exactly what I am paying for, as it seems Yelp and others does the free review thing even better. Then the revenue starts to actually decline, prompting a bigger market spend, they stay unprofitable and eventually the cash crunch hits. Then here comes either the dilution or the 'takeunder'.
    I have very little doubt that management strongly considered exactly what you are saying, but came to a similar conclusion, that there was no percentage at all being a third rate Yelp.
    Aug 28 11:06 AM | Likes Like |Link to Comment
  • Angie's List: How Not To Run A Company [View article]
    Yes, SBH (at first glance) looks to be doing tolerably well, you are correct about that. I notice however that they are profitable, unlike ANGI. Also I cannot help noticing that SBH has a very healthy current ratio, unlike ANGI which is, again, a negative number.
    Jul 13 11:23 PM | Likes Like |Link to Comment
  • Angie's List: How Not To Run A Company [View article]
    I would add that the company has net negative equity: Given the long history of losses, its book value is a negative number. I am really at a loss to come up with a company which has done well long term that has a negative book value
    Jul 10 02:54 PM | Likes Like |Link to Comment
  • Angie's List - The Business Model [View article]
    Well, good luck dude. Me, I am short this company because in order to drive increasing penetration of any market the company seems to require a spend that rises right along penetration and revenues. You don't make money that way; correct me if I am wrong, but shouldn't your spend per member decrease as you get increased market penetration? As it stands this company makes no profit, has negative equity and does not seem to have a clearly articulated strategy of when they will be profitable. And don't get me started on the insider selling, which hardly reflects managment's own confidence in the business. Oh, and the fact that this does not seem to be a business with any 'moat' around it, as witness by the proliferation of online reviews and Amazon possibly getting into it.
    Jun 19 09:52 AM | 1 Like Like |Link to Comment
  • 3 Ways To Hedge Against Iraq Uncertainty [View article]
    Liked the article - and your attitude in general - but I would be wary of telling individual investors to short high momentum stocks directly. You can get your financial face ripped off that way. Would you not think that perhaps a better way to short high fliers is to buy put options on them instead?
    Jun 16 12:28 PM | 1 Like Like |Link to Comment
  • Angie's List +8.2% on BofA/Merrill upgrade [View news story]
    I guess it is considered rude or inappropriate that an analyst would bring that up. My thoughts are mentioning that would interefere with his mission to hype the stock (and maybe there is some psychological 'anchoring' behind this, i.e. the ability that people have to ignore data that doesn't fit their preconceived notion) and that Wall street seems to me to be going back to the model it followed a long time ago, even pre-Enron, where everyone knew there were a certain amount of paid 'touts' of a particular company and that those in the know merely ignored them, and shrugged when the credulous would take them at their word.
    Jun 6 10:21 AM | Likes Like |Link to Comment
  • Angie's List +8.2% on BofA/Merrill upgrade [View news story]
    Yeah I wonder what possible reason Mr Oesterle had for pushing his company stock. I am sure it has nothing to so with the (literally) thousands of shares he sells every month.
    Fact is, if he was so confident about the future of this company, why is he not buying at these depressed levels.
    This company - and the crudulous wall street crowd - examplifies everything wrong with wall street today. I remain short
    Jun 6 09:53 AM | 2 Likes Like |Link to Comment
  • Twitter - The Little Yellow Bird Is Getting The Flu [View article]
    I think we can make an analogy here:

    TWTR will probably become like SIRI

    ANGI will be e-toys
    May 7 11:00 AM | 2 Likes Like |Link to Comment
  • Organovo: 3D Liver Tissues, Cash And Revenue Assessment [View article]
    I think you mean Ricardo Montalban, but whatever. Interesting discussion about this stock, Classic high risk/high reward situation
    Mar 11 10:18 AM | 1 Like Like |Link to Comment
  • Angie's List Struggles, More Woes Ahead [View article]
    You seem more sanguine about the 'pump-and-dump' aspects of this company that are currently riling up some of us. I'd take your conclusion one step further: This company should never have gone public in the first place. Oh right, except for the fact that they needed to get money from credulous and willing wall street public
    Mar 3 12:45 PM | 2 Likes Like |Link to Comment