Seeking Alpha


Send Message
View as an RSS Feed
View sangcorporation's Comments BY TICKER:
Latest  |  Highest rated
  • Equity Investing Or Index Investing [View article]
    Good article. Have you tried doing an analysis showing what your total returns would be had the dividends been reinvested vs. S&P total returns? I would think the dividends reinvested would be superior to the S&P total returns.
    Dec 2, 2014. 06:35 AM | Likes Like |Link to Comment
  • You're Looking At The Wrong Numbers [View article]
    great analysis. I never looked at revenue per share but it makes a lot of sense.
    Nov 23, 2014. 08:25 AM | 2 Likes Like |Link to Comment
  • AGCO: Cheap On Its Own Merits But The TAFE Stake Could Be Worth $665 Million [View article]
    Good article. I think Caterpillar is also a possible buyer. Deere is competing with CAT in construction but CAT does not have a portfolio of products to compete with Deere in Agriculture.

    Nov 12, 2014. 06:28 AM | Likes Like |Link to Comment
  • Breaking It Down: UPS's Q3 2014 Earnings Call [View article]
    price of fuel is likely hedged and thus the impact of low fuel prices are not as big as most people think.
    Oct 27, 2014. 06:49 AM | Likes Like |Link to Comment
  • Deere & Co.: Focus On Future Harvests [View article]
    I'm not clear on your calculations of value of AGCO. AGCO's PE is at or a little lower than DE. Also, AGCO's free cash flow is comparable, yet your analysis shows AGCO as inferior. The one big difference in AGCO is that it outsources the financing function to Rabobank vs. have an internal finance arm (like DE and CAT). Could that be skewing your valuation?

    In full disclosure. I'm a fan of both DE and AGCO. My bias is towards AGCO because

    A) it's smaller and has more room to grow whereas DE will grow with the market.
    B) Started a fairly aggressive buyback program that will help push the stock.
    C) Has insiders aggressively buying the stock

    May 20, 2014. 05:38 AM | Likes Like |Link to Comment
  • Looks To Accelerate Growth, Shares Appear Cheap [View article]
    Agreed. I like a lot of things about the stock and company; however, one area i wish the company would change is their stock purchase program. They should be open to taking a little debt to buy their stock when the price gets so low.
    May 19, 2014. 05:08 AM | Likes Like |Link to Comment
  • Looks To Accelerate Growth, Shares Appear Cheap [View article]
    I agree with your assessment that OSTK is a great stock and the lower price makes it only better. A few questions. You write OSTK has $100M in net cash. How did calculate net cash? Also, how did you get 8.5X free cash flow?
    Apr 26, 2014. 07:39 AM | Likes Like |Link to Comment
  • JPMorgan/Wells Fargo Earnings Previews: Revenue Growth Remains An Issue [View article]
    i think the article is missing Wells Fargo's business model. Wells Fargo is more focused on being a financial product distributor than a lender. The financial distribution business is over $2T opportunity. This means, they will work to drive fee income as opposed to being focused on loans. Wells Fargo also has a growth path geographically. For example, they have room to grow internationally.
    Apr 4, 2014. 05:45 AM | 2 Likes Like |Link to Comment
  • Nevada Copper Is A Rare Opportunity [View article]
    great analysis. how would you compare nevada copper to novacopper (NCQ)?
    Mar 26, 2014. 05:54 AM | Likes Like |Link to Comment
  • EU to investigate Liberty Global's purchase of Ziggio [View news story]
    try buying LBTYA stock for you and anyone youŕe concerned about and you will be fine.
    Mar 17, 2014. 08:58 AM | Likes Like |Link to Comment
  • IBM Could Be Set For A Near-Term Rebound [View article]
    This is an excellent analysis. I am 100% in agreement that free cash flow is most important and IBM is has very strong free cash flow generation.

    One thing that sticks out is the last 4 bullet points. If IBM did not buy back shares and did not offer dividends but simply held the cash, they would have $146B in cash. Since their market cap is $200B, they would value their current business for $54B. Rather than offer dividends and do share repurchases, would IBM have been better off holding the cash for their shareholders? I think this is what Warren Buffett would have done.
    Dec 31, 2013. 09:40 PM | Likes Like |Link to Comment
  • James River Coal: Valuation Ignores Risk From Lack Of Thermal Coal Contracts [View article]
    In the scenario that JRCC goes bankrupt, how much of the 10% bonds will be given back to investor? I bought at 40 cents on the dollar and even if JRCC goes bankrupt, I've assumed that there should be enough assets to cover the bonds at 40 cents on dollar. JRCC has assets in the CAPP region and the Illinois Basin. Th CAPP region assets may be worthless but the Illinois Basin assets are profitable and still has value. I'm counting on the Illinois Basin value to be the margin of safety assets that can cover the 10% bonds in the event of bankruptcy. Does anyone see a scenario this does not happen? Again, I bought way below par so getting 40 cents on the dollar is sufficient.
    Dec 24, 2013. 09:58 PM | Likes Like |Link to Comment
  • NovaCopper: Irrational ETF Selling Could Mean A Multi-Bagger [View article]
    how does a junior minor like this raise capital? if they sell shares and dilute current owners, is there a scenario where the stock price would go up due to increased cash in the balance sheet? what if they raise debt, would the stock price likely go up or down?
    Dec 22, 2013. 07:34 PM | Likes Like |Link to Comment
  • NovaCopper: Irrational ETF Selling Could Mean A Multi-Bagger [View article]
    I've been trying to estimate the liquidation value of NCQ. On the one hand they bought the rights to develop for $29M. They've spent $30M+ to drill holes and do a feasibility test. Anyone have an estimate what the development rights would trade today to a private owner? The market cap is about $80m. Is it higher or lower than $80m? There is a possibility that this asset would not be developed for a while or ever. Trying to gauge the downside risk.

    Would be interested in hearing your thoughts. Thanks
    Dec 20, 2013. 10:12 PM | 1 Like Like |Link to Comment
  • 4 Reasons To Be Skeptical On NovaCopper [View article]
    Th stock is trading at a market cap of $87M. Your low end NPV is $480M. Even with your estimate there is a 5x return potential. Also, I believe the NPV your referring to is for only one of the 3 sites they have. Please let me know if you think otherwise.

    The same CEO for NCQ founded Novagold and that stock has a market cap of $770M+ Even without being in production. The CEO seems to know how to build a company and market cap. Hope he does the same with NCQ.

    My big question on NCQ is that they have to raise capital to keep their project moving. I'm curious what this will do to the stock. Any thoughts?
    Dec 10, 2013. 09:13 PM | 5 Likes Like |Link to Comment