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Archive for September, 2010

Guest Post: Harry Long on SureWest Communications (SURW)

Posted in About, Activist Investors, Stocks, Value Investment, tagged on September 30, 2010 | 2 Comments »

Harry Long of Contrarian Industries has a great guest post on SureWest Communications (SURW). Harry is the Managing Partner of Contrarian Industries, LLC and can be reached at info@contrarianindustries.com (mailto:info@contrarianindustries.com): SureWest Communications (SURW) is a fascinating study in capital allocation, which is the most important strategic imperative in an industry with stagnant growth. For the [...]

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Above Average Odds on Visteon Corporation (VSTNQ)

Posted in Stocks, tagged , on September 29, 2010 | 2 Comments »

The excellent Above Average Odds Investing has a great analysis of Visteon Corporation (VSTNQ). Here’s the pitch: Thesis: The Visteon Corporation is a classic post reorg/special situation with a large margin of safety and substantial near-term upside potential. Brief Business Description: Visteon Corporation is a global Tier 1 supplier of automotive products to original equipment [...]

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New York Magazine profile of David Tepper

Posted in About, Activist Investors, Stocks, Value Investment, tagged on September 28, 2010 | 1 Comment »

NYmag.com has a great profile on David Tepper, whose talk at the Ira Sohn investment conference some are crediting with the run up on Friday. The profile is the standard form hagiography for someone coming off a big win, but there is some interesting discussion of the positions Tepper was taking in March 2009: Last [...]

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Media, vulture targets

Posted in About, Liquidation Value, Stocks, Value Investment, tagged , , on September 27, 2010 | 2 Comments »

The NYTimes.com Business Day Media & Advertising section had a story last week about Randall D. Smith, a “pioneer in the hard knocks business of vulture investing” and his current focus on the newspaper industry: Mr. Smith puts money into risky investments that few others will touch — and these days, that includes many newspaper [...]

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Greenbackd on “Investor Questions Podcast” with Geoff Gannon

Posted in Stocks, tagged on September 24, 2010 | 3 Comments »

Last month I sat down for an interview with Geoff Gannon from Gannon on Investing. Geoff is a superb value investor in his own right, and a student of the markets. He asked some fantastic questions, and we covered a great deal of territory in the 1 hour 15 minute interview. One subject we touched [...]

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Buyout targets

Posted in About, Stocks, Value Investment, tagged , on September 23, 2010 | Leave a Comment »

The Street has an article Companies That Serve as Buyout Targets advocating a Darwin’s Darlings / Endangered Species-type strategy for buying stock: When evaluating small-cap stocks, individual investors would do well to emulate private-equity professionals. Focusing on balance sheets and private-market valuations of small companies cuts through the noise sounded by volatile stock markets like [...]

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Lawndale files amended 13D for P & F Industries Inc (NASDAQ:PFIN)

Posted in Stocks on September 22, 2010 | 1 Comment »

Lawndale Capital Management has filed an amended 13D for P & F Industries Inc (NASDAQ:PFIN) (see the PFIN archive). The filing seems to have been triggered by Lawndale’s President Andrew E. Shapiro’s September 17, 2010 letter to PFIN’s Board and an increase in Lawndale’s ownership position to 9.7% of PFIN. The “Purpose” language of the filing is set [...]

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Fairholme goes activist on American International Group Inc (NYSE:AIG)?

Posted in About, Activist Investors, Stocks, tagged on September 21, 2010 | 1 Comment »

Bruce Berkowitz’s Fairholme Capital Management filed a Schedule 13D notice Friday for its holding in American International Group, Inc. (NYSE:AIG). It’s an interesting development. Fairholme’s previous AIG disclosure was a 13G, indicating a passive holding. The 13D may indicate that Fairholme intends to take an activist approach to AIG. It’s not entirely clear because the [...]

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Seahawk Drilling Inc (NASDAQ:HAWK) presentation

Posted in About, Seahawk Drilling (NASDAQ: HAWK), Stocks, tagged on September 20, 2010 | 3 Comments »

Seahawk Drilling Inc (NASDAQ:HAWK) President and CEO Randy Stilley presented to the Barclays Capital CEO Energy-Power Conference on Thursday. I’ve been following HAWK closely (see the post archive here). It’s a deeply undervalued asset turnaround play with a bad case of seconditis. Once Stilley finds the person sticking the pins in the HAWK voodoo doll, HAWK should do [...]

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Aviat Networks Inc (NASDAQ:AVNW) settles with Ramius

Posted in About, Stocks, tagged , on September 17, 2010 | Leave a Comment »

In July Ramius Capital disclosed an activist holding in Aviat Networks, Inc. (NASDAQ:AVNW). I thought then, and continue to think, the opportunity described by Ramius in the letter annexed to the 13D is compelling (outlined in the original post here). AVNW has announced that it has settled with Ramius and will nominate to the board a director [...]

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