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MOSMan

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  • Recently Converted Waterstone Financial's Shares Cheap For A Reason [View article]

    Excellent analysis Profit Fan. I have looked at this one, but haven't done anything. I always appreciate your insights. There are some well known Community Bank Investors who continue to hold and/or have acquire shares, but I also noticed a respected investor who appears to have sold their position. My guess is they saw many of the problems you are pointing out in this article.

    I hope you don't mind the question, but are there any particular books on bank stocks you would recommend? I am currently reading, Banking and Financial Institutions by Benton E. Gup, but it hasn't been particularly enlightening so far. Hopefully, it will get better.

    Take care and once again, nicely done.
    Jul 10 09:16 AM | Likes Like |Link to Comment
  • Happy Anniversary: End Of Moratorium Makes OBA Financial A Potential Deal Target [View article]
    Nice work, Chris. You're definitely seeing a spillover effect in OSHC today.
    Apr 9 01:58 PM | Likes Like |Link to Comment
  • Seeking Alpha Book Club [View instapost]
    Thanks Chris.
    Dec 4 12:07 AM | Likes Like |Link to Comment
  • Seeking Alpha Book Club [View instapost]
    Hi Joshua, you have a valid point. Price is always important. However, I don't believe the book is advocating finding a CEO who has the uncanny ability to allocate capital and for anyone to buy his or hers company stock at any price (at least that wasn't my take). I think you should use patience as you should or would with any investment. That is what the Outsiders do as well. So, I would advocate following CEO's who you believe have these innate abilities and buy if and when the price makes sense invest. The trick will be to find the CEO's who have these traits and also stick with them long term. It's not as easy as it may sound, but I'm sure you're aware of that. I also don't believe it's a strategy most will follow because most people who call themselves investors are really traders. But of course, I could be wrong. P.S. Schultz is a good recommendation for a future Outsider. Do you think the track record is long enough yet for him to be considered? Does he allocate capital well enough? It wasn't that long ago when he was closing stores and the stock was below $10. I like Starbucks (the coffee and cafe's) but not the stock.
    Dec 4 12:06 AM | Likes Like |Link to Comment
  • Saga Communications: Situated To Benefit From Consolidation In Traditional Media - But Wait A Couple Of Weeks [View article]
    Hi VA! Nice article. SGA went ex-div on 11/27, so I believe it's possible those who there for special dividend may have already exited. One question, didn't Saga once have two classes of stock?
    Dec 3 12:54 PM | Likes Like |Link to Comment
  • Seeking Alpha Book Club [View instapost]
    Chris, did you consider adding POST to the list? I know it's a different company, but the CEO remains the same.

    On best CEO, I would have to say Warren Buffett. Given his longevity, and outstanding record and consistency of growing returns are remarkable. Plus he deserves credit for mentoring Katherine Graham. Graham deserves credit for embracing Warren Buffett from the get go.

    The book is inspiring on many levels. All took difficult situations and created masterpieces without a lot of fanfare. One main theme in the book reminds me of another book called "Quiet" which was written by Susan Cain. Warren Buffett is featured in her book too.
    Dec 3 12:48 PM | 1 Like Like |Link to Comment
  • Seeking Alpha Book Club [View instapost]
    Hi Toddro, I would tend to agree with you. I also love to see a clean Balance Sheet. The CEO's in the Outsiders had the luxury of consistent cash flows. That being said, they certainly found themselves in situations where they were concerned. Their main strength was they were adaptable and did not allow preconceived ideas or conventional wisdom to lead them astray. Also good observation on General Cinema. I thought the same thing. I think they went to the well perhaps once to often, but it easy to criticize in hindsight. All in all, they are still a good case study. Using debt wisely, is a practice few do well over long periods of time. I would like to hear Chris's opinion on General Cinema.
    Dec 3 12:32 PM | Likes Like |Link to Comment
  • OSHC Owners Forum [View instapost]
    My guess is that someone will offer $18.50 to $19.00 (depending on the amount of shares repurchased) but management may not be receptive.
    Nov 26 01:36 PM | Likes Like |Link to Comment
  • IBM Is Not A Technology Company [View article]
    Yes you do! But we'll have to take some away if you didn't read Who Says Elephant's Can't Dance by Louis Gerstner. ;)
    Nov 26 11:28 AM | Likes Like |Link to Comment
  • ESSA Bank & Trust: One Dollar Of Value Available For 50 Cents [View article]
    Batman, the author states ESSA is currently trading at a discount to its TBV of 14.16 He is using 1.5X and not 2X TBV to come up with his target of $21. The recent acquisition is also mentioned. However, I tend to agree management is not looking to sell in the near future based on recent deals. But you never know who could come knocking at the right price. I just did a calculation of the TBV based on the most recent 10-Q on the ESSA Site. and I came up with $12.71 (Please feel free to check my number and tell me if I am wrong) That would give me a target of $15.25 to $19.07.
    Nov 26 11:23 AM | Likes Like |Link to Comment
  • IBM Is Not A Technology Company [View article]
    Well done John. Now you have me rethinking what I thought before. I'll probably still second guess myself after I have drawn another conclusion. That's what make this so much fun.
    Nov 25 04:27 PM | Likes Like |Link to Comment
  • OSHC Owners Forum [View instapost]
    Bennie's Bakery?? I remember an Italian Bakery that seemed to do decent in downtown OC, but it's been a few years. Are they one and the same?
    Nov 21 09:49 PM | Likes Like |Link to Comment
  • AVX Corp. Is Undervalued: Time To Unlock Value Is Now [View article]
    I recall looking at AVX last year and there was a sizable environmental liability that was unresolved. Has that matter been settled? If so, is it reflected in the current numbers, financial statements, etc.?
    Nov 1 06:05 PM | Likes Like |Link to Comment
  • Intel: Owner Earnings, Owner Earnings Yield And Payback Years [View article]
    Intel does look attractive from a fundamental perspective, but I have been concerned by the amount of insider selling. There has been continuous selling without one insider buy since the latter part of 2010. The chairman recently sold over half his shares. And there have been other large sales. Berkshire owned Intel for a brief spell as well, but quickly exited the position. I know that insiders sell for all sorts of reasons, but I find the activity with INTC to be unsettling and proceed with caution flag. I hope I am wrong.
    Nov 1 03:39 PM | 1 Like Like |Link to Comment
  • Investment Book Club On Seeking Alpha Instablog [View instapost]
    Great idea Chris. The Outsiders was recommended to me by a friend and fellow investor. I read it a few months ago. I'll look forward to following your discussion here and hope I can add some insight as well. In fact, now that you brought it up, I may even start re-reading it again. I too like to stay out of mischief! ;)
    Nov 1 03:17 PM | 1 Like Like |Link to Comment
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