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  • Why Is Only Worth About $40 Billion To Bidders [View article]
    One day investors will realize that is in the business for themselves, not for their shareholders. Its a great and profitable business but their self-servicing behavior is a disgrace.

    Q1 2015
    Non-GAAP EPS $0.16
    Stock-based expense ($0.21)
    Other items $0.05
    GAAP EPS $0.01

    Full year guidance (fiscal 2016)
    Non-GAAP EPS $0.69-$0.71
    Stock-based expense ($0.89)
    Other items $0.08-$0.10
    GAAP EPS ($0.12)-($0.10)

    Mind you, stock-based compensation is a real expense. The company should be ashamed of itself in the way it presents the financial numbers by highlighting only their non-GAAP numbers. One has to look hard for the GAAP numbers that are, in my view, more reflective of the company's real profitability. This is terrible behavior and almost impossible to change. In the spirit of Chalie Munger's Lollapalooza effect I suspect that this will end very badly. And the longer it lasts all the bigger the impact.
    May 21, 2015. 03:57 AM | 13 Likes Like |Link to Comment
  • Inglorious 'Bastards' See Through Herbalife's Smoke And Mirrors [View article]
    I think it's telling that Herbalife needs 500+ pages in their 10-Q (Tim Ramey's words) to fabricate the numbers.
    May 6, 2015. 03:16 AM | 5 Likes Like |Link to Comment
  • Herbalife Convertible Bond Is A Modest Value [View article]
    A good investment if you like losing money!
    Mar 14, 2015. 05:03 AM | 7 Likes Like |Link to Comment
  • Salesforce soars to $68 on in-line results, better-than-feared guidance [View news story]
    2014 EBITDA: $560m. 2014: Stock-based expense: $503 million. Wow! Good job Salesforce enriching yourselves...
    Feb 26, 2015. 07:30 AM | 1 Like Like |Link to Comment
  • Mallinckrodt: Strong Growth From Transformative Acquisitions Paying Off [View article]
    Questcor is a joke of a company. Investors should be wary of the potential downside risk resulting from the acquisition.
    Feb 24, 2015. 08:00 AM | Likes Like |Link to Comment
  • Herbalife Long Squeeze Intensifies: The House Of Cards Could Topple Any Moment [View article]
    Great analysis Matt. Just a minor addition; the 13F filing only provides the long positions in U.S. listed companies. In reality the reported exposure of the Herbalife shareholders is smaller for those who have investments that are not required to be filed through the 13F filing reducing the impact of a potential (or eventual) default even further.
    Feb 19, 2015. 05:48 AM | 2 Likes Like |Link to Comment
  • Herbalife's Unusual Foreign Currency Problem, Explained And Analyzed [View article]
    The long stock holders do not even seem worried by an insider admitting that the business opportunity is a fraud.
    Jan 21, 2015. 11:17 AM | 4 Likes Like |Link to Comment
  • Holy Spirit: Herbalife Director Wanted For Fraud [View article]
    Well spotted Matt. Makes me wonder though: do you ever sleep?
    Nov 14, 2014. 08:32 AM | 3 Likes Like |Link to Comment
  • Herbalife's Q3 Earnings Miss Has Sent Shares Plummeting More Than 10%, Should You Buy On This Dip? [View article]
    No account for 'irregular' items?
    Nov 4, 2014. 05:41 AM | Likes Like |Link to Comment
  • Textura - Free Cash Flow Set To Explode In 2015, Rising To $2.50-2.75/share In 2017 [View article]
    Keep on dreaming!
    Oct 31, 2014. 06:51 AM | 2 Likes Like |Link to Comment
  • NQ rejects Bison's buyout offer [View news story]
    This company is a joke.
    Oct 28, 2014. 09:54 AM | Likes Like |Link to Comment
  • NQ Mobile, Learned It The Hard Way [View article]
    It is too early to say that Carson Block is wrong on NQ Mobile. The company could still be a fraud...
    Oct 28, 2014. 06:44 AM | 4 Likes Like |Link to Comment
  • Plug Power +11% after winning new commitment from Wal-Mart [View news story]
    Assuming full delivery in 2014 of the first and second Walmart order that still leaves another 812 units to be delivered this year to meet company guidance!
    Jul 29, 2014. 07:54 AM | 2 Likes Like |Link to Comment
  • China Orders Montage Technology To Cease Production And Sale [View article]
    Great article and interesting timing. Hitherto investors seem to have more attention for the positive news.
    Jun 11, 2014. 09:24 AM | Likes Like |Link to Comment
  • Unilife Investors Kept In The Dark (With Help From The SEC) [View article]
    Great article, but unclear to me why one would present such an appealing short case and not initiate a position.
    May 27, 2014. 07:50 AM | Likes Like |Link to Comment