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billyjoerob

billyjoerob
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  • Florida Gaming - Liquidation With Upside [View article]
    so what are you giving this guy a hard time about? any experienced investor knows that these workout situations are a minefield and that it is very, very easy to underestimate the total costs. just look at the sceptical comments on this thread. if anybody bought these shares blindly because of one article, then they have only themselves to blame. seeking alpha articles don't come with guarantees, don't have a conniption if some of the ideas turn out to be wrong.
    Apr 16 06:37 PM | 1 Like Like |Link to Comment
  • The Price Is Wrong: Greystone Logistics At 5X Earnings [View article]
    It took till google result page 10 to get a result for greystone after searching for "plastic pallets." That's worse than when I tried the same thing a few years ago (of course, a few years ago the stock was at 7c). Plastic pallets are absolutely a commodity, it's trivial for any molded plastic maker to churn these out at a very high rate. It's true, there are companies that are very image conscious and are willing to pay more for the environmental aspect, but how big is that market? The issue is not plastic vs. wood, it's big plastic vs. small plastic.
    Apr 15 08:33 AM | 2 Likes Like |Link to Comment
  • Florida Gaming - Liquidation With Upside [View article]
    you got squeezed didn't you yukos.
    Apr 14 06:51 PM | Likes Like |Link to Comment
  • Florida Gaming - Liquidation With Upside [View article]
    Wow . . . the comment thread alone is like a good short story.
    Apr 7 05:13 PM | Likes Like |Link to Comment
  • Valuable Insights And Seeking Alpha [View article]
    You can learn more from your mistakes than from winners. That's why doing a postmortem on bad picks is good policy. Obviously VI doesn't owe the audience of SA a follow-up post on every pick. But if he is going to pump "potential multibaggers," he should expect to get called out on his strike outs and be willing to defend them or acknowledge mistakes.
    Apr 6 09:02 AM | 2 Likes Like |Link to Comment
  • Sungy Mobile Set To Burn U.S. Investors [View article]
    Zedge is a similar company, it is a top 100 Android app and is also in the business of providing customization. zedge is owned by IDT and is valued by the market at roughly $0.
    Apr 3 09:26 PM | 1 Like Like |Link to Comment
  • 2 Transportation Plays That Should Yield Far Larger Returns Than FedEx Following Earnings [View article]
    We're already at mass hysteria levels. With a market cap over $2B and a run rate of roughly $1B, that's 2x sales in an industry that usually trades in the vicinity of .20x sales. So it's overvalued by something like 10x. Now maybe BJ can pull it off, but no reason to believe this isn't already at nose-bleed levels.
    Mar 27 06:43 PM | Likes Like |Link to Comment
  • 2 Transportation Plays That Should Yield Far Larger Returns Than FedEx Following Earnings [View article]
    $5.
    Mar 23 11:29 AM | 1 Like Like |Link to Comment
  • 2 Transportation Plays That Should Yield Far Larger Returns Than FedEx Following Earnings [View article]
    $1B or $2B, what does it matter? This is going to the moon, everything will seem small from up there.
    Mar 23 11:27 AM | Likes Like |Link to Comment
  • Rand Capital Trades At A Significant Discount To Its Growing Book Value [View article]
    By the way, the major shareholder, NSB Advisors, has a long history of cornering floats and inflating share prices. For example, NSB owned most of the outstanding shares of APCO Oil and Gas, and if you look at a chart, it's suffered a massive drawdown. That triggered share sales in other massive positions, such as
    PMFG and GLPW and ATRO and GCOM. He probably didn't sell Rand because there wasn't enough volume. I doubt NSB will push Rand to do anything.
    Mar 23 06:22 AM | Likes Like |Link to Comment
  • Rand Capital Trades At A Significant Discount To Its Growing Book Value [View article]
    Rand sure benefited from the Lebed effect when he pumped up the Synacor shares. Too bad they didn't/couldn't sell when it was much higher.
    Mar 23 02:59 AM | Likes Like |Link to Comment
  • Ruby Tuesday: A Ruby In The Rough [View article]
    Been to a Bennigans lately? How about a Howard Johnson's, A&W, or Roy Rogers? Concepts go out of style. RT could be the victim of cheaper casual dining concepts. Relying on past results and waiting for mean reversion is a good way to get stuck in a value trap.
    Feb 27 12:11 PM | Likes Like |Link to Comment
  • Ruby Tuesday: A Ruby In The Rough [View article]
    The real estate serves as a margin of safety. As far as I know, nobody expects the company to sell the real estate in the near future, but it does provide something of a floor if results deteriorate.
    Feb 23 02:05 PM | 2 Likes Like |Link to Comment
  • Ruby Tuesday: A Ruby In The Rough [View article]
    Interesting idea, and more interesting if the business is turning around. This passage though makes me concerned:

    "The current stock price is trading at 90% of the company's net real estate value and is attributing zero value to the company's operating business which has generated an average of $113m per year in cash flow from operations over the past 7 years."

    Is this double counting the real estate assets? Currently, RT is generating negative cash flow, and if the implicit rent of the company owned locations is backed out, the operating business looks to be in even worse shape. What would someone pay for RT sans real estate? Would it be a positive number? And how much would it cost to replace or significantly change the concept, if it came to that? If the current trends continue, it might not be as easy as simply selling the real estate and sending a check to shareholders.

    And with that, I've now realized my life-long dream of using "implicit rent" in a sentence.
    Feb 22 11:47 AM | 3 Likes Like |Link to Comment
  • Citigroup: The Market Is Likely Wrong [View article]
    A tracking stock for OneMain makes sense.
    Feb 21 06:13 AM | Likes Like |Link to Comment
COMMENTS STATS
257 Comments
154 Likes