Big Wave Trading Portfolio Update And Top Current Holdings [View instapost]
Last week, u did not mention PHMD as one of your top current short holdings...are you only including it if/when it goes down? Does not seem very credible...
Big Wave Trading Portfolio Update And Top Current Holdings [View instapost]
Hi Joshua,
Thanks for the article. I always enjoy reading your blog... At what point would you consider closing the PHMD short? A gradual break above 13.5 on good volumes?
Heavily Shorted Stocks To Consider Before Earnings [View article]
Please explain your 2.24 "calculation". Your numbers do not add up. Did you seriously short this stock while knowing so little about it? By the way Oracle (ORCL) has around 50% of its assets in intangibles which you call "Worthless"...would you question their accounting as well?
Heavily Shorted Stocks To Consider Before Earnings [View article]
I think that you misunderstand how accounting works. When companies or technologies are bought goodwill is created and then amortized. Its a direct result of the purchase price of the acquisition.
As for your comment questioning the integrity of the numbers (based on what?) I will just point out that Professor Nahum Melumad the head of the audit committee and a lead professor of accounting in a small University called Columbia has recently purchased shares in the open market...now, why would he do that while fudging the numbers as you imply? (links below)
Finally, as for all in the bid and ask, as Mr. Buffet once said: "In the short run, the market is a voting machine but in the long run it is a weighing machine" PHMD has been loosing the voting game recently...but the scale is tipping more and more in its favor!
Heavily Shorted Stocks To Consider Before Earnings [View article]
I have no idea what you are talking about. Please provide factual feedback if you are looking for a response. If you are questioning the integrity of the numbers (based on what?) I will just point out that Professor Nahum Melumad, the chair of the audit committee, and head of the accounting department in a small school called Columbia University (bio below) has been recently buying shares...link below...why exactly would he do that while "cooking the books" as you imply? I don't think you have done any homework on this one...once you do, I'll be happy to have an intelligent discussion...as for the bid-ask comment...I'll just say that as the great Buffet once said "in the short term the market is a voting machine, in the long term its a scale" PHMD has been loosing the battle on the voting machine, no doubt, but the scale is tipping more and more in its favor...once it tips, expect an avalanche
Mr. Melumad is the James Dohr Professor of Accounting and Business Law at the Columbia Business School (CBS). He has been a member of the CBS faculty since 1993. Between 2000 and 2006, he served as the chairman of the accounting division at the CBS. Professor Melumad is the recipient of the 2005 Annual CBS Dean's Award for Excellence in MBA/EMBA teaching. Between 2003 and 2008, he co-directed the Columbia Business School/New York Stock Exchange Program for directors of public companies titled Integrity in Financial Disclosure. Prior to joining CBS he was a member of the faculty at the Stanford Business School. Professor Melumad has served as a consultant and advisor to many organizations, including Bristol-Myers Squibb, General Electric, the New York Stock Exchange, and Morgan Stanley. Professor Melumad is a CPA and holds M.B.A. and Ph.D. degrees from the University of California at Berkeley. Mr. Melumad would bring to our board of directors valuable accounting expertise.
Heavily Shorted Stocks To Consider Before Earnings [View article]
Dig deeper? I agree. As of the last Q the company had $23.5M in cash $18.8 in AR and $18.8 in inventories for a total of $61.1M (forgetting the other current assets). The company raised $37M net (http://yhoo.it/L5HEIG), so even before the current Q which probably created around $10M in cash, total current assets are $98.1M versus current liabilities of $35.7 or a current ratio of 2.75X. Total liabilities were $38.9M or current assets versus total liabilities of 2.52X...you honestly believe that these are not good ratios?
Heavily Shorted Stocks To Consider Before Earnings [View article]
Nice post. Another one to consider may be PHMD. Short interest just hit 27% of float or 37% of real float if you eliminate index funds in the U.S. and Israel. Short interest is up 600% in a month! Company has $3.5 in cash, is growing 25% a year has no debt, and is trading under 6X free cashflow...almost no analyst coverage..Finally they just settled a major lawsuit which should save around $2M per q in legal cost
Great value and possible major squeeze coming...IMHO
Big Wave Trading Portfolio Update And Top Current Holdings [View instapost]
Does not seem very credible...
Big Wave Trading Portfolio Update And Top Current Holdings [View instapost]
Not a subscriber yet...but considering it...:)
Big Wave Trading Portfolio Update And Top Current Holdings [View instapost]
Thanks for the article. I always enjoy reading your blog...
At what point would you consider closing the PHMD short? A gradual break above 13.5 on good volumes?
Thx
Heavily Shorted Stocks To Consider Before Earnings [View article]
Heavily Shorted Stocks To Consider Before Earnings [View article]
By the way Oracle (ORCL) has around 50% of its assets in intangibles which you call "Worthless"...would you question their accounting as well?
Heavily Shorted Stocks To Consider Before Earnings [View article]
As for your comment questioning the integrity of the numbers (based on what?) I will just point out that Professor Nahum Melumad the head of the audit committee and a lead professor of accounting in a small University called Columbia has recently purchased shares in the open market...now, why would he do that while fudging the numbers as you imply? (links below)
Finally, as for all in the bid and ask, as Mr. Buffet once said: "In the short run, the market is a voting machine but in the long run it is a weighing machine" PHMD has been loosing the voting game recently...but the scale is tipping more and more in its favor!
Professor Melumad bio:
http://bit.ly/MOJHBt
Professor Melumad purchases:
http://yhoo.it/RsiaVQ
Heavily Shorted Stocks To Consider Before Earnings [View article]
IMHO
Professor Melumad purchases
(http://yhoo.it/RsiaVQ)
Professor Melumad bio
Nahum D. Melumad
Chairman of the Audit Committee
Mr. Melumad is the James Dohr Professor of Accounting and Business Law at the Columbia Business School (CBS). He has been a member of the CBS faculty since 1993. Between 2000 and 2006, he served as the chairman of the accounting division at the CBS. Professor Melumad is the recipient of the 2005 Annual CBS Dean's Award for Excellence in MBA/EMBA teaching. Between 2003 and 2008, he co-directed the Columbia Business School/New York Stock Exchange Program for directors of public companies titled Integrity in Financial Disclosure. Prior to joining CBS he was a member of the faculty at the Stanford Business School. Professor Melumad has served as a consultant and advisor to many organizations, including Bristol-Myers Squibb, General Electric, the New York Stock Exchange, and Morgan Stanley. Professor Melumad is a CPA and holds M.B.A. and Ph.D. degrees from the University of California at Berkeley. Mr. Melumad would bring to our board of directors valuable accounting expertise.
Heavily Shorted Stocks To Consider Before Earnings [View article]
As of the last Q the company had $23.5M in cash $18.8 in AR and $18.8 in inventories for a total of $61.1M (forgetting the other current assets). The company raised $37M net (http://yhoo.it/L5HEIG), so even before the current Q which probably created around $10M in cash, total current assets are $98.1M versus current liabilities of $35.7 or a current ratio of 2.75X. Total liabilities were $38.9M or current assets versus total liabilities of 2.52X...you honestly believe that these are not good ratios?
Heavily Shorted Stocks To Consider Before Earnings [View article]
Company has $3.5 in cash, is growing 25% a year has no debt, and is trading under 6X free cashflow...almost no analyst coverage..Finally they just settled a major lawsuit which should save around $2M per q in legal cost
Great value and possible major squeeze coming...IMHO