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Deepv

Deepv
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  • 'Can Stocks Be Safer Than Bonds?' [View article]
    a bond" does not mean it will act like a bond
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    becasue investors will over pay for low volaility.
    Jul 6, 2011. 03:37 PM | Likes Like |Link to Comment
  • 'Can Stocks Be Safer Than Bonds?' [View article]
    An equity with no net debt is structurally a bond, since there is no one more senior than the equity holder in the capital structure. The problem is investors define risk as volatility and nothing more.
    Jul 6, 2011. 10:00 AM | Likes Like |Link to Comment
  • China Real Estate Information (CRIC +8.9%) drifting up on light volume; it's one of a few companies that are part of Baidu's (BIDU) recent strategic deals for premier partnerships and it has exclusive rights to sell Bidu's real estate brandlink product. It's a 2009 creation of units of E-House China (EJ) and Sina (SINA).  [View news story]
    The volume so far is as large as most full days. Yesterday was huge volume. Perhaps seller is gone?
    Jun 29, 2011. 10:46 AM | Likes Like |Link to Comment
  • RIM Proves Why You Can't Just Pay Attention to Fundamentals [View article]
    The bottom line is that the so called fundamentals in this chart -- Eps and revenues -- are BACKWARD looking whilst the stock market discounts FUTURE earnings. At the moment, blackberry looks like a toaster. The EV of RIMM is still ginormous, and must be supported by durable revenues that now seem to be evaporating. Motorolo (old school) and Nokia (new school) all over again. This is why tech investing is so tough -- you are buying a future toaster. Tech stocks should be generally bought in momentum phase or when you are sure it is more valueable than mr. market as SCRAP metal, not as a going concern.
    Jun 18, 2011. 10:33 PM | 1 Like Like |Link to Comment
  • CDN Cotendo Raises $17M, Adds Juniper and Citrix as Investors, Puts More Pressure on Akamai [View article]
    Talking about contento vs Akam is like talking up Abu grocers vs. Target IMO.
    Jun 17, 2011. 08:57 AM | Likes Like |Link to Comment
  • Weighing the Week Ahead: Fears Worse Than Fundamental Conditions [View article]
    The 2008/09 crisis means most traders/investors have post traumatic stress syndrome to this day. Look at the S&P 1975-1980 AFTER the market bounce from 73/74. Jobs numbers were FAR FAR worse today (job losses in 6-figures on a smaller population base) and INFLATION was nasty. S&Pmuddled up 50%. THe economy and the stock market are NOT the same. Biggest risk to stock market is inflation and all these set backs are deflationary. Thanks for selling me cheap stock of debt free companies dude, whilst you complain about GOVERNMENT debt and go to Cash (government debt!).
    Jun 12, 2011. 08:42 AM | 4 Likes Like |Link to Comment
  • The anemic recovery is no surprise to Steve Keen, who contends the U.S. has an economy dependent on not just high, but ever-accelerating levels of private debt. In a healthy system, debt levels rise and fall, but remain roughly flat over time. The ever-upward slope of U.S. debt, like a Ponzi, must at some point collapse.  [View news story]
    detb service to GDP is TINY
    Jun 12, 2011. 08:34 AM | 1 Like Like |Link to Comment
  • 10 Global Signs That the Market Is at a 'Tipping Point' [View article]
    has a $14 Trillion debt
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    And 5x this amount on the asset side, that no one talks about, ever.
    Jun 1, 2011. 09:55 AM | Likes Like |Link to Comment
  • Winn-Dixie Turns Around [View article]
    Winn dixie post BK has a great b/sheet and NOL's as far as eye can see, that is why it is different then a&p.
    May 21, 2011. 09:29 AM | Likes Like |Link to Comment
  • Audiovox Exchanges Cash Reserves for 'Intangibles' [View article]
    Agree Ndl11. The mis analysis I think is the idea that it is value destructive to pay cash for "intangibles". Kl;ipsh has earnings power, whether you can identify the source or not. Clearly the power comes from the capabilities behind BRAND and that is what VOXX are buying. It's like when you as an investor buy KO, YOU are buying INTANGIBLE nothing more. that intangible makes lots and lots of $$. The hard asset "cash" on VOXX b/sheet was earning zero!
    May 20, 2011. 10:18 AM | Likes Like |Link to Comment
  • Audiovox Exchanges Cash Reserves for 'Intangibles' [View article]
    He IS saying that VOXX took all their cash and spent it on what could be perceived as an overpriced asset (Klipsch) at 20x earnings, 4x book
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    Saj static valuation is lame. price to book is not a way to value Klipsh and Klipsh earnings were not disclosed. I believe they did disclose Klipsh EBITDA number was which was $25m I think. So they paid 6-7x EBITDA PRE-synergy for one of the few great audio speaker brands left in the world complementing their audio? Too much? Really? Did you know the EBITDA multiple private equityy paid for D&M? Didnm't think so. The combined VOXX is now on 10x P/e where "E" is probably low balled as the managment mentioned "upside" several times. The just took cash out of the bank yielding zero and getting a double digit return and growh possiblities for it. I really think net net guys are nutty.
    May 19, 2011. 05:08 PM | Likes Like |Link to Comment
  • Audiovox Exchanges Cash Reserves for 'Intangibles' [View article]
    So the new VOXX will earn (low ball) a clean $.75 this year (on 10x) with my estimte of mid cylce earnings power of $1-2. this makes this stock extremey inexpensive, and finally relevant strategically, given emerging OE capability (think Harmon Kardon...notice its multiple?).
    May 19, 2011. 02:13 PM | Likes Like |Link to Comment
  • Audiovox Exchanges Cash Reserves for 'Intangibles' [View article]
    Audiovox received $142 million in goodwill and intangible assets. Basically, the company blew all of its cash and incurred a bunch of debt in exchange for intangibles
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    This is flawed perspective. A stock is worth PV or future cashflows. Voxx was a net net but was not returning its zero interest cash to shareholders, but hoarding it. The used the cash on a very relevant, complementary biz (Klipsch) that has REAL cashflow, generated by the power of its brand and products built up over decades. It's like if I bought KO for $50bn you would tell me I bought an "intangilbe" and paid too much? You have to consider the value of Klipshch and other strategic deals in this consolidating space like D&M. This is finally the time Voxx has become interesting but the net net shareholders who never make money abandon ship, since they don't want a real sustainable relevant biz but a safe to crack open. This re-levred Voxx is finally a buy, and one can easily see it earning $2/share in 3-4 years out with a clean b/sheet.
    May 19, 2011. 02:07 PM | Likes Like |Link to Comment
  • Does 'Emerging Markets' Still Have Any Meaning? [View article]
    I've said many times I want nothing to do with the banks, real estate companies
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    Roger fights old wars and does not understand the forward looking investment ecosystem. Funny I don't see bilionaires like Michael Price avoiding banks and real estate TODAY.
    May 13, 2011. 09:29 PM | Likes Like |Link to Comment
  • Don't Fall for the 'Defensive Portfolio' Hype [View article]
    The point is if the markets are going to correct, you don't really want to own ANY stock. That said, most people calling for market correction seem to be ALWAYS calling for a market correction. Thinking you KNOW one is coming down the pike is arrogant. I think there's a good chance market could corrent, but I could also see S&P 1800 as possible, as this could be like the 70's but with inflation BENEFITING stocks since the risk free rate is zero. Wth these socalled defensive stocks, one must look FORWARD not backward. I think a stock Merck is super cheap, but i can understand why many would avoid, leaving it a bargain for me. But what MRkstock did 2000-10 is of zero interest to me,and should be for you as well. You need to consider its MERITS today.
    Apr 17, 2011. 09:17 AM | 4 Likes Like |Link to Comment
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