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JeffreyLangBoyd

JeffreyLangBoyd
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  • Who Really Thinks That Japan Is Argentina? [View article]
    Can you provide a link to that paper? I looked and couldn't find it.
    Nov 6, 2014. 02:36 PM | Likes Like |Link to Comment
  • Ceragon Networks: Excessive Pullback In Mobile Data Stock Creates A Buying Opportunity [View article]
    They didn't do the best job of disclosing the number of shares outstanding in the latest press release. It is 76.6 million according to my calculations which would mean book value of $2.05. Assuming book value means anything.
    Nov 5, 2014. 11:13 AM | Likes Like |Link to Comment
  • Ceragon Networks: Excessive Pullback In Mobile Data Stock Creates A Buying Opportunity [View article]
    I agree that it is an extremely risky investment.

    Can I ask who is commoditizing things? Huawei and ZTE are certainly competitive but they aren't taking down ALU, NOK, ERIC.
    Nov 5, 2014. 10:49 AM | Likes Like |Link to Comment
  • How To Link Australian Iron With Marine Le Pen [View article]
    Do agree that Japan is going to see negative real growth barring huge changes in society such as driving the number of women participating in the workforce up or changing retirement habits in a very significant fashion.

    Still, that would not result in Abenomics being a failure in my mind. If they can avoid default on their debt, not have a ruinous inflation, keep the economy stable in real terms (or moderate declines) while providing for their disabled it would be a huge success.
    Oct 22, 2014. 08:18 AM | Likes Like |Link to Comment
  • How To Link Australian Iron With Marine Le Pen [View article]
    Impact on global growth.

    Not quite understanding the position that the flow of excess savings in Europe into developed countries is a negative for global growth. It sounds logical if one assumes that investments in developing countries generate higher returns than the U.S. or other developed countries but I don't think that can be said with any sort of confidence.

    Interesting comments about Abenomics being almost certain to be a failure. Would be interesting to know what constitutes failure. Is it a sovereign default or is it merely a failure to grow? If it is a failure to grow, I'm inclined to agree but I would still argue that it is the only material hope of avoiding eventual default.
    Oct 21, 2014. 05:01 PM | 1 Like Like |Link to Comment
  • Wal-Mart expects all employees to top minimal wage level [View news story]
    I'm happy to see everyone get a wage increase but if the older and disabled folks who work at Wal-Mart lose their jobs as a result of this change it is a sad day.
    Oct 16, 2014. 01:48 PM | 3 Likes Like |Link to Comment
  • Are The Doves Dishonest? [View article]
    Perhaps when bank regulatory pressures break they will do it but right now your explanation makes sense. Thanks.
    Oct 13, 2014. 12:04 PM | Likes Like |Link to Comment
  • GT suggests it could sue Apple; sapphire plant to close [View news story]
    That would be a breach of contract rather than oppression. Have they claimed that Apple breached?
    Oct 13, 2014. 11:58 AM | Likes Like |Link to Comment
  • Are The Doves Dishonest? [View article]
    Wonder why no futures market has arisen. Seems like there are futures markets for everything else so why not NGDP?
    Oct 13, 2014. 10:51 AM | Likes Like |Link to Comment
  • Update: DragonWave Reports Another Good Quarter, And The Stock Continues To Be Undervalued [View article]
    Who gives a rip about revenue if margins are so low?

    Having said that, next quarter will probably show margin improvements as the margin front as Reliance business is direct. Barring disaster which is all too common with DRWI.

    t wasn't asked about in the call but one has to wonder why they didn't ship any product to Reliance until the very end of the quarter even though they had the P.O. at the end of May. Maybe Reliance didn't want the product yet? Maybe they had production or cash flow problems, I don't know but I would bet the fourth quarter will be a disaster after what will probably be the high water mark for Dragonwave in the third.
    Oct 13, 2014. 09:54 AM | Likes Like |Link to Comment
  • GT suggests it could sue Apple; sapphire plant to close [View news story]
    If I am lost in a desert and you come across me in your car and say I can only have a ride and bottle of water if I give you a million dollars the contract would not be enforceable later even if you give me the water and a ride.

    GTAT obviously wasn't in that position but that is basically what an oppressive contract is and it can be voided by a court. If Apple was overly piggish they might have some exposure but it is unusual for a court to agree. GTAT has to void the loans in order to allow equity holders to get anythings so they will make the best argument they can and hope they get something.

    Here is an article on oppression that I like:

    http://bit.ly/1vUaTmk
    Oct 11, 2014. 05:43 PM | 1 Like Like |Link to Comment
  • GT suggests it could sue Apple; sapphire plant to close [View news story]
    When they say they are losing $1 million per day is that including the fixed costs of the equipment or is it strictly variable?
    Oct 10, 2014. 04:14 PM | Likes Like |Link to Comment
  • Update: DragonWave Reports Another Good Quarter, And The Stock Continues To Be Undervalued [View article]
    You are certainly more eloquent than management of Dragonwave but I would be cautious of a management team that indicates that they have a $40 million credit line available to them when in fact the maximum amount that can be drawn is around $20 million. To me this indicates a dangerous willingness to fudge or more worrisome they just don't understand basic finance.

    They don't have any idea what is going to happen in the fourth quarter. Maybe they will grow sales, I don't know but the business just fundamentally isn't viable given their current arrangements even with sales growth. It isn't even close.

    They are just trying to hang on while praying for a miracle.
    Oct 10, 2014. 04:03 PM | Likes Like |Link to Comment
  • Ceragon Networks, The Dark Days Are Over, Clear Skies For 100% Upside [View article]
    This is a fair article but I wish it would have addressed how Ceragon is to make money in the long-term. Wireless backhaul has been around for many years and capacity has grown exponentially and yet the unfortunate fact is that no one has made money. Ceragon has come the closest of the public companies to creating a viable business but until others start to go under or are acquired I don't see any reason for them to make money over the course of a cycle. Maybe they will be profitable over the next year but what about the long term?

    One point that I definitely disagree on is blaming Africa for the large DSO and stating that things improved in the second quarter (they did not). They have a track record of absorbing great risk with receivables and that came back to bite them very badly in Venezuela and Argentina. Venezuela appears to be cleaned up as they walked away from the country but Argentina exposure isn't really defined very well. A dollar sitting in Argentina that can't be transferred out of the country isn't necessarily a whole than the old situation of holding Pesos. Maybe they can get the money out, I don't know but until they say they can, and until receivables actually start to go down, one should be cautious.

    So after having bashed their receivables management and lack of disclosure, I should say that I own the shares and do think their financial disclosures are actually pretty good. Just not as good as I'd like.

    http://bit.ly/1uVwlb9
    Sep 23, 2014. 11:36 AM | 2 Likes Like |Link to Comment
  • Gordmans Forced Dividend Payout By Sun Capital Is Haunting Investors, Risking 50% Downside [View article]
    I've never looked at the old regulatory documents but my understanding is that if they acquired 100% of the stock the assets would have been re-valued to whatever the purchase price was. In other words, book value equals purchase price.
    Sep 16, 2014. 11:55 AM | Likes Like |Link to Comment
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