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mikecaplan

mikecaplan
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  • A Grand Bargain: 8 Factors That Could Drive A Surprise On The Deficit [View article]
    James--

    Great article. Very sharp analysis. And thanks for your dedication to your readers. Keep 'em coming!

    - Mike
    Nov 9 01:02 AM | 6 Likes Like |Link to Comment
  • Diamond Foods' Strange Valuation [View article]
    I second the comments about an extremely well thought out and researched article and learned debate. Having just read the 2011 10-K, the terms of the Oaktree recap, and management's May 23rd presentation -- and having the benefit of Max's scrutiny -- it's hard to see the bullish case. But I'm also not persuaded to pay extra to short.

    Diamond is too quiet on the retail side of its business. The 10-k says nothing of its only hope for growth in 2012-13: the Kettle business. And the exchange trigger in the Oaktree deal rests entirely on the performance of the non-snacks side of the business, which accounts for less than half of Diamond's revenues. It's also the only half of the business that has suffered multiple gunshot wounds in the last year.

    So we're all half-blind.

    Without better insight into the status and future prospects of Kettle and Pop Secret, I'm staying out of this debate.
    Jun 19 12:08 AM | Likes Like |Link to Comment
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