Following on from last week’s Japanese liquidation value: 1932 US redux post, I’ve been trying to determine whether the historical performance of Japanese sub-liquidation value stocks matches the experience in the US. The question arises because of the perception (rightly or not) that the weakness of shareholder rights in Japan means that net current asset value [...]
Archive for the ‘Liquidation’ Category
Performance of Japanese sub-liquidation value stocks
Posted in About, Liquidation, Liquidation Value, Net Current Asset Value, Net Quick Stocks, Stocks, tagged Benjamin Graham, Japan, NCAV, Net Current Asset Value on February 8, 2010 | 2 Comments »
Japanese liquidation value: 1932 US redux
Posted in About, Liquidation, Liquidation Value, Net Current Asset Value, Net Quick Stocks, Net Quick Value, tagged Japan, Net Cash Stock, Net Current Asset Value, Net Net, Net Net Stock, Net Quick Value on February 4, 2010 | 14 Comments »
Zero Hedge has an article Uncovering Liquidation Value… In Japan? discussing SocGen’s Dylan Grice’s Are Japanese equities worth more dead than alive. The title is a nod to Benjamin Graham’s landmark 1932 Forbes article, Inflated Treasuries and Deflated Stockholders, where he discussed the large number of companies in the US then trading at a discount to liquidation [...]
Convera Corporation (NASDAQ:CNVR)
Posted in Convera Corporation (NASDAQ:CNVR), Liquidation, Stocks, tagged Convera Corporation (NASDAQ:CNVR), Liquidation, Liquidation Value on November 11, 2009 | 7 Comments »
Convera Corporation (NASDAQ:CNVR) is a liquidation play. The stock closed yesterday at $0.221. The company estimates the value of the distributions to be in the range of $0.37 to $0.45 per share. Approvals According to the 14(c) information statement: The board approved the plan of dissolution on May 29, 2009. The liquidation will not be [...]
Sub-liquidation value ten baggers
Posted in About, Greenbackd, Liquidation, Liquidation Value, Net Current Asset Value, Net Quick Stocks, tagged Liquidating Value, Liquidation Value, Net Cash Stock, Net Current Asset Value, Net Net Stock, Net Quick Value on August 5, 2009 | 12 Comments »
Bespoke Investment Group (via The Reformed Broker) has a list of the biggest gainers for 2009. It should come as no surprise to regular readers of Greenbackd that a number of the stocks are former sub-liquidation value plays (most of which we missed): We opened a position in VNDA and got a great return. We [...]
NSTR pays initial distribution of $2.06
Posted in Activist Investors, Catalysts, Liquidation, Net Cash Stocks, Northstar Neuroscience Inc (NASDAQ:NSTR), Stocks, tagged Liquidation Value, Net Cash Stock, Northstar Neuroscience Inc (NASDAQ:NSTR) on July 16, 2009 | 8 Comments »
Northstar Neuroscience Inc (NASDAQ:NSTR) has paid an initial distribution of $2.06 per share. We’ve been following NSTR (see our post archive here) because it was a net cash stock that had announced a plan to liquidate. We estimated that the final pay out figure in the liquidation would be around $59M or $2.26 per share, [...]
Seth Klarman on Investing in Corporate Liquidations
Posted in About, Liquidation, Liquidation Value, Seth Klarman, Stocks, tagged Liquidating Value, Seth Klarman on March 20, 2009 | 1 Comment »
Today we complete our series on Seth Klarman, the founder of The Baupost Group, a deep value-oriented private investment partnership that has generated an annual compound return of 20% over the past 25 years, and the author of an iconic book on value investing, Margin of Safety: Risk-Averse Value Investing Strategies for the Thoughtful Investor [...]
And never breath a word about your loss
Posted in About, Liquidation, Liquidation Value, Net Current Asset Value, Net Quick Stocks, Net Quick Value, Stocks, tagged Liquidating Value, Ricardo Salinas on February 6, 2009 | 4 Comments »
CNBC has an interview with Ricardo Salinas, the Mexican billionaire who took a position in Circuit City Stores Inc (OTC:CCTYQ) after it fell into bankruptcy and lost $41 million. In the interview with Michelle Caruso-Cabrera, Salinas explains why he made his bet on CCTYQ and how it went wrong. Although Salinas’ CCTYQ investment wasn’t a Grahamian [...]
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