Swensen Portfolio Supercharged With 2 Piotroski Stocks [View article]
I tread carefully with Asian stocks, but I caught a near 4-bagger with NTE (Nam Tai) for pretty much the same reason: its cash exceeded its market cap. Got the business for free. With GAI, the Piotroski # is an additional plus.
Swensen Portfolio Supercharged With 2 Piotroski Stocks [View article]
Lowell, a few numbers re GAI jump out at me (I checked on both AdvFN and Morningstar):
3 million shares outstanding $0 Long-term debt @$40M cash (that's over $13/shr for a share priced at @$6.80) $13M FCF for a company with @$20M market cap (that's @ 63% FCF yield). FCF generation, however, has not been especially consistent, nor have earnings.
The company has certainly NOT been burning through its cash. Looks too good to be true. Am I missing something ?
FCF Yield is probably my favorite valuation metric, but I question the numbers stated in the 'Valuation' paragraph for TSO.
I come up with 6.7% for the last FY and 8.7% for ttm, neither # close to the 19.8% mentioned. And yes, my numbers are vs. market cap, not enterprise value. I am using 142.1M shares and the price right now is a bit higher, but that does not account for the wide discrepancy.
Insider buying is certainly a positive, but there's a real possibility that the heirs to Mr. Farrell's shares could be sellers, but I emphasize 'could be'. I don't know the exact number of shares he held, but it's substantial.
I sold half my position in NLY a few weeks ago. FWIW, right now I prefer the commercial part of the sector, e.g., NRF.
A Critical Quarter For Mortgage REITs [View article]
" I am thinking that any future purchases I make in that sector should be to diversify by adding NRF, NCT, STAG, IVR."
I am long NRF, which deals primarily in commercial debt and properties. While the yield spread will certainly affect NRF's strategies and its profits, I don't think the Fed's program to buy up Mortgage Backed Securities will be an issue for the company, since it is residential mortgages which will be purchased. Fair statement ? Or incorrect assumption?
Freeport-McMoRan: Indonesia Mess May Sink Stock [View article]
"That means Freeport's expenses on gold mined at Grasberg will increase by 9%, and expenses on copper mined there will increase by 6.5% if and when the new royalty goes into effect."
If 'expenses' means royalties, royalties on gold will increase ten-fold, not 9%, and fees on copper will almost triple.
PT, put your glasses on -- you did it again. One is named Yang, the other Wang. I knew Charles and worked for him for a brief time. Yep, he had his shortcomings, too.
BTW, completely off topic, the red Ferrari in the Ferris Buehler movie was owned by Charles's brother, Anthony.
In your rant, you are confusing Jerry Yang, co-founder of Yahoo, with Charles Wang, founder of CA and owner of the Islanders. Yang did, indeed, leave Cisco's board; the Islanders' and CA's Charles Wang was never a member of Cisco's board.
I do agree that Yang leaving Cisco's board is a positive, however. But Mark Cuban loves him. Made him a billionaire by buying Broadcast.com, a complete waste of Yahoo's money. I have to wonder what Cisco was thinking in inviting him to be a board member in the first place.
A Shipping Company Headed In The Right Direction [View article]
Hammer, I took a small, speculative position in EXM a while back, so I'm underwater. I'm not as sanguine as you about the value of the assets or about a pick-up in the dry bulk business, but it's good to see an optimist out there. I hope you're right. Relatively big move up in the share price as I type this...
Equity CEFs: The First Cut Is The Deepest [View article]
DANCE, here are 3 links to articles on the good and bad of ROC, one an earlier article by Doug. I keep the links around for when I get 'fuzzy' on the subject. I don't know if Doug completely agrees with the other two authors, but here they are....Hope they help.
Swensen Portfolio Supercharged With 2 Piotroski Stocks [View article]
Luck indicates preparation. Luck to us both...
Swensen Portfolio Supercharged With 2 Piotroski Stocks [View article]
3 million shares outstanding
$0 Long-term debt
@$40M cash (that's over $13/shr for a share priced at @$6.80)
$13M FCF for a company with @$20M market cap (that's @ 63% FCF yield). FCF generation, however, has not been especially consistent, nor have earnings.
The company has certainly NOT been burning through its cash.
Looks too good to be true. Am I missing something ?
Western Refining's Prosperity Is Not Over [View article]
Another nice metric is that FCF represents a whopping 24.2% of Total Liabilities.
Protected Principal Retirement Strategy: CEFs Equals Closed-Ends Falling? [View article]
http://seekingalpha.co...
http://seekingalpha.co...
http://seekingalpha.co...
Tesoro: Undervalued [View article]
I come up with 6.7% for the last FY and 8.7% for ttm, neither # close to the 19.8% mentioned. And yes, my numbers are vs. market cap, not enterprise value. I am using 142.1M shares and the price right now is a bit higher, but that does not account for the wide discrepancy.
For VLO, I get 9.8% (FY) and 21.5% (ttm).
I own neither VLO nor TSO, but I'm watching both.
Why I Am Sticking With Annaly [View article]
I sold half my position in NLY a few weeks ago. FWIW, right now I prefer the commercial part of the sector, e.g., NRF.
A Critical Quarter For Mortgage REITs [View article]
I am long NRF, which deals primarily in commercial debt and properties. While the yield spread will certainly affect NRF's strategies and its profits, I don't think the Fed's program to buy up Mortgage Backed Securities will be an issue for the company, since it is residential mortgages which will be purchased. Fair statement ? Or incorrect assumption?
The High-Yield Corporate Bond Conundrum [View article]
CTRL+Mouse wheel (if you have one) will modify size, at least with FireFox and IE9. Should work for IE8....
Pfizer Won't Get A Slap On The Wrist From The SEC [View article]
Freeport-McMoRan: Indonesia Mess May Sink Stock [View article]
If 'expenses' means royalties, royalties on gold will increase ten-fold, not 9%, and fees on copper will almost triple.
My New Rule: Buy Cisco Below $19 [View article]
BTW, completely off topic, the red Ferrari in the Ferris Buehler movie was owned by Charles's brother, Anthony.
My New Rule: Buy Cisco Below $19 [View article]
I do agree that Yang leaving Cisco's board is a positive, however. But Mark Cuban loves him. Made him a billionaire by buying Broadcast.com, a complete waste of Yahoo's money. I have to wonder what Cisco was thinking in inviting him to be a board member in the first place.
A Shipping Company Headed In The Right Direction [View article]
U Can't Touch This.....
Tobacco Stocks: Time To Be Cautious? [View article]
It's already begun. New York's Mayor Bloomberg has already gone after soft drinks and fast food establishments have been under scrutiny for some time.
Too much damn government.
Equity CEFs: The First Cut Is The Deepest [View article]
http://bit.ly/RpM0Ik
http://bit.ly/uSbfnG
http://bit.ly/RpM0Ip