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  • Century Bancorp - 50% Undervalued [View instapost]
    4/17/2015 - Filler buys 516 shares

    http://1.usa.gov/1yB5SUL
    Apr 17, 2015. 06:47 PM | Likes Like |Link to Comment
  • Lentuo International With $23 Million Market Cap Projects Doubling Revenues To Over $1 Billion By 2018 [View article]
    LAS now trading as LASLY on pink sheets

    Trading range yesterday was 16 cents to 25 cents, 24 cents closing price. 17 trades total for the day.
    Apr 17, 2015. 09:39 AM | Likes Like |Link to Comment
  • Poised To Break Up, Or... [View instapost]
    My crystal ball indicates next few weeks will likely see some softness in US markets/indexes:

    1. Continued soft/weak Q1 earning reports, propped up by financial engineering (buybacks, focus on non-GAAP/EBITDA, etc.)

    2. We are due for the "Sell in May" chants to begin
    Apr 17, 2015. 08:17 AM | Likes Like |Link to Comment
  • Speed Commerce: Transition From Distribution To E-Commerce Is An Overlooked Catalyst [View article]
    Company is on the ropes...desperation moves today.
    Apr 16, 2015. 11:18 AM | Likes Like |Link to Comment
  • Century Bancorp - 50% Undervalued [View instapost]
    4/15/2015 - Filler buys 66 shares @ $39.30

    He likely didn't purchase any shares during the past two weeks due to restricted period between end of quarter and earnings announcement. Q1 earnings announced on 4/14 - basically flat earnings with prior year quarter (up 0.5%), assets grew to a record $3.77 billion. Book value as of March 31, 2015 was $35.53 per share compared to $34.57 at December 31, 2014. Tangible book value is now $35.04.

    http://1.usa.gov/1DLnNsn

    http://1.usa.gov/1DLpKoJ
    Apr 16, 2015. 09:15 AM | Likes Like |Link to Comment
  • LeapFrog: A Balance Sheet Analysis Shows Strong Downside Protection [View article]
    The basic premise of the article is that although the company has had major missteps in the past two years the balance sheet has value offering downside protection in the near term and that is good enough to wait for the (expected) turnaround.

    One problem with this argument is that the current management is directly responsible for the missteps and there has been absolutely nothing done as far as some shakeup at the top. If management is responsible for this loss of 70% in share value (which is fairly obvious that they are), why is it that there has not been any change? The company has had months to do something and I've seen nothing as far as communication about what they are doing operationally or from a management perspective. Going into hiding and being silent at this juncture is not the right approach and I'm not understanding what reason anyone would be investing at this time other than pure faith.

    As much as I am a firm believer/supporter of LeapFrog and its products, the shares/company are not a good investment in my view. The company has had the opportunity to do right by shareholders for months now and continues to be silent. In the current environment, I am very shocked that some activist has not yet stepped up to the plate, bought a chunk of shares, and gone directly at management's jugular.

    I suggest that potential shareholders hold off until Q1 earnings are announced shortly, see what management has to say and hope that they will be opening up to big changes they are going to immediately make to fix things. It is an absolute certainty that more losses are going to be announced, the question is how much was lost and what was the impact to the balance sheet?
    Apr 16, 2015. 08:28 AM | 1 Like Like |Link to Comment
  • Lentuo International With $23 Million Market Cap Projects Doubling Revenues To Over $1 Billion By 2018 [View article]
    "You often post links from various authors that further your agenda, but do you have mind of your own, or are just content with posting links for unspecific garbage articles? Just curious."

    Apparently the unspecific garbage wasn't so unspecific or garbage after all - was it?

    What you called my "agenda" would have saved you and all of the readers who acted on your "garbage" lots of money.

    I think that you owe everyone here a big apology for your biased and now proven worthless recommendations (in addition to what now appear to be many outright lies) in this article and prior ones on LAS, as well as for your behavior attacking every poster and comment posted which did not support your position. Having a very good understanding of your history, I won't hold my breath.
    Apr 15, 2015. 07:05 AM | 1 Like Like |Link to Comment
  • Cape Bancorp: Attractive Loan Portfolio By Composition And By Sensitivity Weighting [View article]
    Why no mention that the bank has a significant footprint in Atlantic City and obviously that area has big economic issues?

    On the last conference call, I believe CEO said/implied numbers for next couple quarters would be "messy". I think it was near the end in response to an analyst question.
    Apr 14, 2015. 08:18 AM | 1 Like Like |Link to Comment
  • Lentuo International With $23 Million Market Cap Projects Doubling Revenues To Over $1 Billion By 2018 [View article]
    NYSE Suspends Trading in Lentuo Int'l (LAS)

    http://bit.ly/1CQVzYj
    Apr 13, 2015. 07:29 PM | 1 Like Like |Link to Comment
  • Getting Cautious On Stocks - Investors Beware [View article]
    I expect the "Sell in May" chants to begin within days. As usual, we'll likely see some selloff on May 1. What follows will be more interesting.
    Apr 13, 2015. 09:46 AM | 1 Like Like |Link to Comment
  • Getting Cautious On Stocks - Investors Beware [View article]
    There are many, many red flags out in the market today. Seemingly the only thing preventing a downturn is the Fed and a population that is willing to take on high risk for any type of potential return on its cash. This provides yet another red flag.

    "Caution" is definitely the right approach at this time.
    Apr 13, 2015. 08:04 AM | 5 Likes Like |Link to Comment
  • Natural Gas Falls Off The Edge Of The Cliff [View article]
    they can't go to zero, but in mathematical terms, "the limit" is zero.

    they can be reverse split.
    Apr 13, 2015. 07:52 AM | 3 Likes Like |Link to Comment
  • Barron's on GE: Sell the news [View news story]
    it will not be 30x because there is going to be a massive share repurchase - on the order of $50B is what I've read. So that could reduce share count by about 2 billion or 20% of the outstanding shares. So take that 30x down to 24x - still a bit rich, but not as much as 30x. Maybe shares don't go to $60, but only $45? that's still a 50% gainer from today's price.
    Apr 11, 2015. 01:24 PM | 3 Likes Like |Link to Comment
  • Geeknet: The Force Will Awaken Again In 2015 [View article]
    This is a one quarter per year retailer and nothing more.

    Most people become interested because they see a hefty cash balance, but company has no earning power. Other people become interested because they see Ken Langone periodically picking up shares. But he is so far underwater with GKNT it makes his past purchases appear laughable.

    At the end of the day, the company does not have the earning power (in those Q4's where they are profitable) to produce profits that justify the share price.

    As Mr. Wonderful would say, it looks like it's a bunch of gearheads trying to take their hobby of selling gearhead stuff to other gearheads and somehow make a business out of it, and they are failing miserably. They are simply going to stay in business and run that cash balance down for as long as it keeps them afloat. This is not an investable business. Maybe you can make $1 or even $2 trading it and catch a bounce because of the low float and wild volatility when there is some volume, but it is not an investment. You could turn around one day and be looking at $5/share and there would be just as little reason for that valuation.

    This is another value trap, and not a value play.
    Apr 10, 2015. 11:22 AM | 2 Likes Like |Link to Comment
  • Speed Commerce: Transition From Distribution To E-Commerce Is An Overlooked Catalyst [View article]
    "Using EBITDA (and adjusting for one-offs) does not mean you ignore mistakes "

    I want to read you a couple passages from the book I'm currently reading: "Financial Shenanigans" by Howard Schilit: http://amzn.to/1Iun1CZ - I recommend you and anyone reading this comment pick up a cheap/used copy of the book from Amazon because it is well worth the price.

    ===

    The "Pro Forma" Game
    One problem, however, is the occasional attempt to obfuscate the truth by using a new metric called pro forma earnings. This measure removes from net income items that management believes are not related to the company's normal recurring business. Traditionally, pro forma numbers were provided to give investors an idea of what the earnings of a completely new business or the business that would result from a merger would look like.

    Recently (2002 edition of this book), some companies have issued press releases that contained misleading earnings, using the pro forma metric. They have whimsically excluded expenses that really are related to the company's normal recurring business. For example, some companies have excluded such costs as stock-based compensation and amortization expense in computing pro forma earnings.
    .
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    .
    SEC Not Amused by Pro Forma Chicanery
    The SEC has taken note of these schemes. In a March 2001 speech, the agency's chief accountant, Lynn Turner, attacked company disclosures that appeared to "turn straw into gold." He described how the fixation on corporate profits has led companies to move from reporting EPS (earnings per share) to creating the turbo-charged pro forma EBS - Everything but the Bad Stuff.

    ===

    As we know, these days, all companies and analysts belittle GAAP EPS and harp on non-GAAP "adjusted EPS", EBITDA, operating earnings, etc. - all of which is exactly what is being discussed here. The point is that investors need to look through all of this obfuscation to understand what is really going on. And this is specifically what I disagreed with in all your comments and the article (as best I can remember since only PRO can now see it) focusing on EBITDA - it is a mistake, and specifically with SPDC - because even today, in their earning announcements they only mention EBITDA and non-GAAP adjusted earnings because they know that they are losing lots of money but refuse to come right out and say it. It appears that the market has finally come to its senses and is now punishing SPDC having had enough of the game.
    Apr 8, 2015. 09:57 PM | Likes Like |Link to Comment
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