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vtorch

vtorch
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  • Why Is SunPower Planning To Issue Solar Asset-Backed Bonds? [View article]
    SPWR has great technology. Unfortunately, the solar downturn has left the company's capital structure in very bad shape ... warrants, convertible bonds, etc. Just not sure what portion of the company is left for the public shareholders.
    Apr 9 02:50 PM | Likes Like |Link to Comment
  • Why Kors Can't Eat All Of Coach's Lunch [View article]
    Young girls are very fickle-minded, today it is KORS, tomorrow it is KATE. Don't bet your money on what young girls want to buy today, because the answer is likely different tomorrow.

    The idea is not to chase the fashion trends (i.e., chasing behind young girls' minds), but establish a niche to sell your products to people who are returning customers (and afford to do so).
    Mar 18 02:13 PM | Likes Like |Link to Comment
  • More on the HSBC earnings miss [View news story]
    when will investors finally learn that the current CEO and his cronies in London are a bunch of underachieving fat cats? earnings miss, job losses but executive salaries go up? come on!
    Feb 25 07:51 AM | Likes Like |Link to Comment
  • Why Kors Can't Eat All Of Coach's Lunch [View article]
    Given the price range, COH does not experience significant "knockoff impact", unlike Prada, Chanel, LV, Gucci, etc.

    Neither does KORS but for a different reason - KORS handbags already look like cheap Prada knockoffs, and will probably make inroads in North America. Not in Europe and not in Asia.
    Feb 21 06:51 AM | 1 Like Like |Link to Comment
  • Will Michael Kors Continue To Eat Coach's Lunch? [View article]
    Some good performance from the company plus a lot of herd mentality ...
    Feb 4 10:42 AM | 1 Like Like |Link to Comment
  • Sources deny HSBC IPO plans [View news story]
    For a while, I thought these executives may actually be doing the right thing by shareholders. But no, these fat cats are sitting too comfortably in London collecting their fat pay checks that they won't do it.
    Dec 9 11:58 AM | Likes Like |Link to Comment
  • Coach Could Go Higher As It Finally Has An Answer For Michael Kors [View article]
    I simply cannot believe that KORS can attract the mid-upper or upper class. KORS bags, like COH, are made in China. Anyone that tries to position bags made in China as upper class luxury items is clearly not thinking straight. For one, the Chinese doesn't even have the ability to make ultra high quality leather like those made in Europe, and Chinese factory workers, paid less than US$1000 per month, can hardly match the craftsmanship of their European counterparts in the luxury handbag trade. So don't kid yourself, if you are buying COH or KORS, you are middle class.

    Worst still, if you cut of the label from a KORS bag, I bet you won't be able to tell it apart from the Chinese label bags that you buy off Tmall.
    Nov 10 08:25 AM | Likes Like |Link to Comment
  • Coach Could Go Higher As It Finally Has An Answer For Michael Kors [View article]
    I don't know if the article convinces me that COH has an answer for KORS in the short-term. If I am the CEO of COH, I would focus on quality of my products and channel, and ignore noises like KORS. KORS, like many fashion labels, come and go.

    That being said, any brick and mortar company that grew the way KORS had grew is bound to run into issues. It is not "if", but "when" the cracks will show.
    Nov 10 08:13 AM | Likes Like |Link to Comment
  • NQ Mobile: A Neutral Observer's Take [View article]
    Not everyone is upset because they lost money as a result of MW's research. I, for one, agreed with him (actually, I raised issues before MW did (see http://seekingalpha.co...)) on China Media Express, and made money in his futile attempt to discredit Focus Media, which is a real business. People are upset because Carson Block profited by rumor mongering.
    Nov 4 10:40 AM | 2 Likes Like |Link to Comment
  • NQ Mobile: A Neutral Observer's Take [View article]
    Given Carson Block's track record, I'm going to guess that you are no better off taking his advice than going to a casino ...
    Nov 4 10:25 AM | 2 Likes Like |Link to Comment
  • More on HSBC Q3: Underlying revenue flat [View news story]
    "U.K. and Hong Kong markets contributed over half of HSBC's underlying pretax profit."

    Reported profit before tax = US$18,601 mm
    UK reported profit before tax = US$2,426 mm (13%)
    Hong Kong reported profit before tax = US$6,277 mm (33%)
    Asia (ex-Hong Kong) reported profit before tax = US$6,585 mm (35%)

    Asia as a region contributed to almost 70% of the group's profit before tax. I feel that management is trying to make the UK market sound more important than it actually is, an in attempt to justify the indefensible - that the UK is the center of power, and UK bankers are grossly overpaid, while Asia is the profit generator. Time for a breakup?
    Nov 4 10:20 AM | Likes Like |Link to Comment
  • Coach's Ultimate Problem Is Its Brand [View article]
    Like I have said previously, when Lew Frankfort buys shares, the share price tend to go up in the next 6-12 months. Although I am not sure how this purchase compared to the magnitude of his purchase made near bottom in 2009.
    Oct 26 12:30 PM | Likes Like |Link to Comment
  • Coach's Ultimate Problem Is Its Brand [View article]
    First of all, JCP is in the shape that it is in because of secular changes in the fashion apparel industry. In short, the removal of the textile and apparel quota system brought about a new wave of cheap fashion retailers (H&M, Zara, Uniqlo, Primark, F21, etc.) that literally eating the lunch of the entire low-to-middle segment of the fashion apparel industry. Of course, the underlying changes to the supply chain that brought about the emergence of cheap fashion and the downfall of low-to-middle segment fashion retailers is rather complex. Bear in mind that the above discussion is for labels, not brands.

    Coach, on the other hand, is a brand. What do brands sell? An image, a lifestyle, a slice of craftsmanship, a piece of history ... not fashion (although they are inevitably impacted by fashion). Coach is facing more of an internal company problem, which all great companies face from time to time. It is the ability to navigate through periods of difficulties that differentiates the "men from the boys". If you think that competitors won't have its share of their fair share of problems down the road, you are dead wrong. What I am certain of today is that Coach will survive given its strong operating performance, but I simply do not have the same confidence in the likes of Michael Kors or Kate Spade. (Quite frankly, I simply don't like designer-led brands that are often laden with operational inefficiencies).

    Last but not least, although in North America, it is said that competitors like Michael Kors and Kate Spade is eating Coach's lunch, I am very certain it is not the case in Asia. Why? When you cover the logo at a Coach handbag with your hands, chances you are able to recognize that it is a Coach bag. If you do the same with a Michael Kors bag or a Kate Spade bag, you probably couldn't tell it apart from a cheap product you bought from Tmall (Coach was in China way before Tmall). Asians buy luxury products because they are luxury, and Michael Kors and Kate Spade are simply "a dollar short and a minute too late" in that they don't have the "luxury feel" and are facing competition from established luxury brands on the high end, and factory direct Tmall brands on the low end. Also, Michael Kors' market strategy in China is confusing - Lane Crawford in Canton Road in Hong Kong, Duty Free Shop in HKIA and a flagship store in Kerry Center II in Shanghai? Simply too lack of focus and too costly a strategy.
    Oct 26 12:29 PM | Likes Like |Link to Comment
  • The Singapore Story: No Longer A Sure Thing For Investors? [View article]
    Interest article on the topic of Singaporean retardation. Let me see ... after reading the article (http://bit.ly/15G3mxb) a little, I find that the real retard in the whole story is the author.

    Here's why?

    (a) His gripe about Singapore retardation is because he is unable to get interviewers to turn up. Guess what? That happens in many countries as well, probably because the terms he advertised is below market. Cheapo, I must say.

    (b) He claims that foreigners are much more talented than locals. A person with half a brain could tell that his is a baseless claim because of his own inability. This idiot basically wants to make use of a first world infrastructure but pay third world wages. For SGD 2,200, this idiot cannot even hire a decent graduate in Hong Kong except for the most inexperienced or those who probably failed most of their exams. Get real!

    (c) The idiotic author also expects people to reply in perfect sentences via SMS? Hello?!? SMS means "short message service". Does he even know what "short" means? Why did he give the candidate an address without a street number and a company name? What in the world is he thinking.

    In short, this is a classical example where the author is pointing the finger at someone else due to his frustration, without realizing that his other four fingers are pointing back at himself. Talk about a retard.
    Aug 6 01:04 PM | Likes Like |Link to Comment
  • HSBC H1 pretax profit +10% to $14.1B [View news story]
    Problem is even more fundamental. The profit center is HK and other Asia countries, yet the power center and center of highest cost is in the UK. With a diverse shareholder base, there's little anyone could do.
    Aug 5 11:26 AM | Likes Like |Link to Comment
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