Seeking Alpha

ashkat

ashkat
Send Message
View as an RSS Feed
View ashkat's Comments BY TICKER:
Latest  |  Highest rated
  • Short Coeur Mining On Declining Gold Prices And Weak Fundamentals [View article]
    Artem doesn't appear to do his homework at best. Understand financial statements at worst.
    Feb 5 08:00 PM | 1 Like Like |Link to Comment
  • A Rebranded Hillenbrand Is Now A Growth Story [View article]
    Interesting. I would have hope their strategy would be

    Phase 1: Use the cash flow of Batesville to diversify into a higher growth business. (Check)

    Phase 2: Optimize the operations of the acquired assets. (Work in progress)

    Phase 3: Monetize the mature Batesville to unlock value for shareholders. (Not on management's radar)

    If the management team is not will to do this an activist will do it for them eventually. Otherwise hard to use a sum-of-the-part analysis to evaluate this company. The conglomerate discount will likely persist until this changes. Just my two cents
    Dec 21 08:39 AM | Likes Like |Link to Comment
  • A Rebranded Hillenbrand Is Now A Growth Story [View article]
    Great article Marshall. Do you think management would ever spin-off one the units to unlock the value in the company? Or even sell the more mature Batesville business?
    Dec 17 08:49 PM | Likes Like |Link to Comment
  • Hedge Fund Strategies In Your Sleep [View article]
    Great article Chris. I would also suggest DDDAX, a relatively new event-driven mutual fund that focuses on shareholder activist situations. Manager cherry picks from 13D filings. He has done a pretty good job of it thus far. Downside is that its rather pricey at 1.75%.
    Dec 10 04:14 PM | 1 Like Like |Link to Comment
  • Banks Are Doing The Job Of An Activist At Dolan Media [View article]
    I agree Weighing Machine. This is as close to a layup as it gets.
    Nov 11 10:09 AM | Likes Like |Link to Comment
  • Is Dolan Media (DM) A High Growth, High Margin Software Company In Disguise? [View article]
    The bank covenants require at least $29 million in Minimum TTM EBITDA at Sept 30, 2013. Otherwise, they default. The amendment was announced yesterday and the third quarter was in the bag. Since the previous three quarters came in at $20.1 million, they should do at least $8.9 million. Moreover, banks usually provide some wiggle room. I personally don't think that qualifies as a shit show.

    The wiggle room also applies to the $50 million in required cash at the end of May 2014....
    Nov 7 06:39 PM | Likes Like |Link to Comment
  • Is Dolan Media (DM) A High Growth, High Margin Software Company In Disguise? [View article]
    I see it differently.....

    "In addition, the Amendment requires the Company to generate $50,000,000 in cash through one or more liquidity transactions separate from its operating activities, such as a sale of assets or issuance of equity or subordinated debt, by March 31, 2014 (or to have entered into a definitive agreement by March 31, 2014, for a transaction or transactions that will generate $50,000,000 in cash by May 31, 2014) and to use the proceeds from such transaction or transactions to pay down outstanding loans under the Credit Agreement."

    Lets just hope they get a good price for the Business Information segment because its going bye-bye. That will be the first catalyst the writer spoke about. Probably fetches $50M. Now you have:

    $70M Market Cap + $15M Preferred + $90M Debt = $175M EV

    From a double digit grower starting at $28M in EBITDA. I'll have some of that.
    Nov 6 05:11 PM | Likes Like |Link to Comment
  • John Hussman: Overlooking Overvaluation [View article]
    Have a look at his returns versus the AGG over any rolling or absolute return. Not pretty.
    Nov 30 08:33 AM | 1 Like Like |Link to Comment
  • Is Apple the 'Short of the Century'? [View article]
    Remember, if Clem Chambers gets this right, he becomes a "guru." If not, then he's no better or worse than he is now which is nothing.
    Feb 20 08:32 PM | 3 Likes Like |Link to Comment
  • Is Apple the 'Short of the Century'? [View article]
    Back out the cash and AAPL is trading inline with the rest of the mega-cap universe. But growing 3 times as fast.
    Feb 20 08:30 PM | 2 Likes Like |Link to Comment
COMMENTS STATS
10 Comments
8 Likes