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Archive for the ‘Value Investment’ Category

Guest post: Imation Corp (NYSE:IMN) Worth More Sold Than Alone

Posted in Activist Investors, Net Net Stocks, Value Investment, tagged , , , on November 30, 2011 | 4 Comments »

Amit Chokshi of Kinnaras Capital, an independent registered investment advisor focused on deep-value, small capitalization and micro capitalization equity investing, has contributed a guest post on Imation Corp (NYSE:IMN). About Kinnaras: Kinnaras aims to deliver above average long-term results through application of a deep value investment strategy.  As a result, the Firm focuses on the “throwaways” of the equity market, or [...]

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Michael Mauboussin on WealthTrack

Posted in About, Behavioral economics, Contrarian investment, Value Investment, tagged , , on June 28, 2011 | 3 Comments »

Michael Mauboussin appeared Friday on Consuelo Mack’s WealthTrack to discuss several of the ideas in his excellent book, Think Twice. Particularly compelling is his story about Triple Crown prospect Big Brown and the advantage of the “outside view” – the statistical one – over the “inside view” – the specific, anecdotal one (excerpted from the book): June 7, 2008 was a [...]

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The Small Cap Paradox: A problem with LSV’s Contrarian Investment, Extrapolation, and Risk in practice

Posted in About, Stocks, Value Investment, tagged , on October 26, 2010 | 7 Comments »

Yesterday’s post on LSV Asset Management’s performance reminded me of the practical difficulties of implementing many theoretically well-performed investment strategies. LSV Asset Management is an outgrowth of the research conducted by Josef Lakonishok, Andrei Shleifer, and Robert Vishny. They are perhaps best known for the Contrarian Investment, Extrapolation, and Risk paper, which, among other things, analyzed low price-to-book [...]

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AVNW update and valuation

Posted in About, Activist Investors, Net Current Asset Value, Stocks, Value Investment, tagged on October 22, 2010 | Leave a Comment »

Oozing Alpha has a write-up on the valuation of Aviat Networks, Inc. (NASDAQ:AVNW) (see the post archive here). AVNW is an interesting Ramius activist target trading at a small premium to net current asset value. Here’s the write-up from Oozing Alpha: Investment Thesis AVNW is an excellent opportunity to invest in a leading wireless backhaul [...]

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Buffetts next door: VOD and RDI

Posted in About, Value Investment, tagged , on October 21, 2010 | 4 Comments »

Matt Schifrin’s Forbes ”Buffetts next door” blog shines the spotlight on Tim Eriksen, one of Marketocracy’s best stock pickers (see his track record). Eriksen identifies a few stocks that I hold, and for the same reasons: Vodafone (VOD). Vodafone is one of the world’s largest mobile communications providers in the world.  Vodafone owns 45% of Verizon Wireless, which it [...]

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Fortune as Pershing Square activist target

Posted in About, Activist Investors, Pershing Square Capital Management, Stocks, Value Investment, William A. Ackman, tagged on October 20, 2010 | 2 Comments »

Bill Ackman’s Pershing Square Capital Management has opened up an 11% stake in Fortune Brands, Inc. (NYSE:FO). The 13D filed 4 October doesn’t disclose much about the position, but the NYTimes has a great REUTERS BREAKINGVIEWS article Fortune’s Links discussing the position: After a round of golf with his Titleist clubs, a guy pops into the clubhouse for [...]

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LCV Capital Management and Raging Capital Management activist campaign for ModusLink Global Solutions(TM) Inc (NASDAQ:MLNK) hots up

Posted in About, Activist Investors, Share buy-backs, Stocks, Value Investment, tagged , , on October 8, 2010 | Leave a Comment »

LCV Capital Management and Raging Capital Management are running an activist campaign against ModusLink Global Solutions(TM) Inc (NASDAQ:MLNK) calling on MLNK to immediately implement a $50 to $75M share repurchase program and align executive compensation with performance. The two fund managers, calling themselves “The ModusLink Full Value Committee,” say that the full potential of MLNK [...]

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Venture capitalists, value investing and Facebook

Posted in About, Stocks, Value Investment, tagged , on October 7, 2010 | 3 Comments »

Fortune has an article asking whether VCs can be value investors: After all, the philosophy of value investing, in theory, should cut across all asset classes and managers. The precepts and principals therefore should apply to the venture capital business as well. Sadly, they don’t. Jeffrey Bussgang, the author, identifies the problem as an inability [...]

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Longterm on Seahawk (HAWK)

Posted in About, Liquidation Value, Stocks, Value Investment, tagged on October 4, 2010 | 1 Comment »

Longterm Investing has a series of posts examining several scenarios in Seahawk (HAWK) following the recent conference call (see my post archive for the background). In particular, Neil has examined the effect of CEO Randy Stilley’s proposal to take on debt to buy rigs, rather than buyback stock. Here’s the analysis: It’s important to understand [...]

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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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