Marc Cohodes wants to make money with another short thesis, Badger Daylighting is his latest pick. The news that he was short Badger Daylighting sent the company down around 25% in last Friday’s trading session. He believes the stock is overvalued at four times annual sales, far more than one of its key competitors.
Tesla, Inc. is an over-hyped, lousy company, from a financial perspective, that is destined to go bankrupt. There, I said it. Bring on the critics. Contrary to the likely barbs and pitchforks we will receive, I do wish that global warming was not occurring and that the polar bears and penguins could live undisturbed in their former environments.
The battle for Herbalife (HLF) is heating up once again. QTR Research most recently outlined its short thesis on Herbalife’s stock ahead of a documentary’s release, a movie about Pershing Square Capital manager Bill Ackman’s $1 billion short bet on Herbalife and his drive to expose the company as a pyramid scheme. It looks like the Titanic found its iceberg.
Wins’ stock valuation is a puzzle. Investor Jacob Ma-Weaver, at Cable Car Capital, notes that most of the stock’s gains occurred on tiny volumes of odd-lot trades and end-of-the-day transactions. Some 40% of Wins’ trades on a recent day were for one share apiece. On March 09th 2017, the obscure Chinese financial company, headquartered in New York, trades at $315. Yes $315. That is not a typo. Up +1200%.
Ben Graham, the father of value investing, once said of the stock market, “In the short run, the market is a voting machine but in the long run it is a weighing machine.” To Graham the market was like a popularity contest. Investors “vote” for a stock out of considered enthusiasm for its prospects. Results however are determined in the long run as profits are “weighed” year after year and intrinsic value is revealed.
Investment Outlook from Bill Gross Through the years I’ve accumulated a short list of quotes that express a personal…
Portfolio Manager commentary as of December 31, 2016 regarding small cap investments. Third Avenue is a private investment firm rooted in their collective value-driven investment philosophy. Since their founding in 1986, they have consistently pursued a fundamental, bottom-up approach to deep value and distressed investing–the fund has it’s focus on the company’s balance sheet, the value of its underlying assets, and the discounted price of its securities.