Technology

Everything ValueWalk covers about Technology, including the latest news, tips, rumors, features, tech guides.

Integrated Electrical Services, Inc (IESC) – Who are you in bed with?

Integrated Electrical Services, Inc (IESC) – Who are you in bed with? Frank Voisin is a value investor and independent analyst whose site, Frankly Speaking, contains Frank’s investment theses as well as educational material to help investors avoid value traps. Subscribe to Frank’s feed here.

When investing in a company, it is important to consider the identity of the company’s other major owners and creditors. Sometimes other stakeholders have a major effect – positive or negative – on the company’s operations. For example, a fellow stakeholder may act as a catalyst, launching a bid for the company or using its position on the board to push for the sale of non-core assets or for the distribution of cash. In other instances, however, the stakeholder can wield its power to the detriment of the company and other shareholders.

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reminiscences of a stock operator pdf

The Week Ahead

Frank Voisin is a value investor and independent analyst whose site, Frankly Speaking, contains Frank’s investment theses as well as educational material to help investors avoid value traps. Subscribe to Frank’s feed here.

For Value Investors, macroeconomic news often takes a backseat to fundamental analysis. Mr. Market tends to overreact in the face of macroeconomic news, which may lead to value opportunities or good exits. It is important to be aware of macroeconomic developments, so in that spirit, here’s this week’s calendar:

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Stock Market Valuation: January 1st 2011

I update market valuations on a monthly basis. The point of this article is to measure the stock market based on seven different metrics. This article does not look at the macro picture and try to predict where the economy is headed. It only uses these several metrics which have been very good past indicators of whether the market is fairly valued.

This month with the help of my colleague http://seekingdelta.wordpress.com/ , I am adding the seventh metric- AAII-Investor Survey.
I collaborate with two colleagues of mine for some of the data in this article, Doug Short of dshort.com and my friend who runs http://seekingdelta.wordpress.com. Both are great sites, and I encourage readers to check them out.

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“Investing” in Gold is Not Investing!

ounce of gold
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I recently wrote an article in the International Alternative Investment Review (I.A.I. Review). The I.A.A review describes the services it provides; “delivers news you won’t read anywhere else about events in the business and financial community worldwide and the best ideas and themes in the alternative assets sector.

I.A.I Review focuses on the fastest growing segments within this dynamic sector, including family office, private equity, hedge funds, philanthropy and property. The readership includes: Hedge fund managers, Fund of fund operators, High net worth individuals, Private bankers, Law firms, Head of family offices, Trustees and Investment directors”.

The article I wrote discussed gold as an alternate investment. The article was submited only a few months ago when gold was at $1200/oz. Today, gold is trading at over $1400/oz. While I may be wrong about gold, I see signs of a bubble. However, since gold has no intrinsic value I would not take either side of the trade.

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reminiscences of a stock operator pdf

Tofutti Brands Inc. (TOF) – Excessive Executive Compensation

Frank Voisin is a value investor and independent analyst whose site, Frankly Speaking, contains Frank’s investment theses as well as educational material to help investors avoid value traps. Subscribe to Frank’s feed here.

It never ceases to amaze me how often I come across small companies with executives who are paid excessive amounts for mediocre results. Almost invariably, these executives own a large (often majority) portion of the company, and so a potential investor must recognize that these levels of compensation will almost certainly persist. Potential catalysts for unlocking value are consequently minimized, so it is important for value investors to consider whether these company are value traps.

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reminiscences of a stock operator pdf

Supervalu (SVU) a Super Value?

Frank Voisin is a value investor and independent analyst whose site, Frankly Speaking, contains Frank’s investment theses as well as educational material to help investors avoid value traps. Subscribe to Frank’s feed here.

Value investors often seek out companies that have hit rough times, causing Mr. Market to overreact and underprice the company’s securities relative to their intrinsic value. Last month, I came across an article in BusinessWeek about Supervalu Inc (NYSE:SVU), the fourth largest grocer in the United States (with approximately 2,350 locations nationwide).

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reminiscences of a stock operator pdf

From the Mailbag: Overhill Farms, Inc. (OFI)

Frank Voisin is a value investor and independent analyst whose site, Frankly Speaking, contains Frank’s investment theses as well as educational material to help investors avoid value traps. Subscribe to Frank’s feed here.

Increasingly over the last month, I have been receiving emails from readers with questions about particular companies. I hope to begin instituting a regular feature where I will review these companies (after responding to the reader privately, to give him/her a chance to act). If you have a company that appears to be a value opportunity and want my take on it, contact me here.

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reminiscences of a stock operator pdf

The Fed’s Buying Spree… Is It Real

The Fed's Buying Spree... Is It Real

By Robert Williams

Earlier this month the Federal Reserve announced that it will purchase $600 billion worth of bonds, in addition to it’s already existing operations, with the hopes of, raising inflation. With most rates of interest already below real time inflation rates of 3-4% per annum, why on Earth would the Federal Reserve want to raise inflation, and thereby lowering the returns of hedge funds, mutual funds, 401k(s), 529’s and other investments?

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12 23 durable goods

Recap of Today’s Economic Data

By http://seekingdelta.wordpress.com

There was a significant amount of economic data released today in advance of the Christmas holiday. There were no major surprises with 3 data points missing consensus, 2 came in at consensus and 1 exceeded consensus. The 3 missed were by a slim margin. The markets are mostly flat on the news.

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reminiscences of a stock operator pdf

Celgene Corp. (CELG) Contingent Value Rights

Frank Voisin is a value investor and independent analyst whose site, Frankly Speaking, contains Frank’s investment theses as well as educational material to help investors avoid value traps. Subscribe to Frank’s feed here.

Lung Cancer is the number one cancer killer globally, claiming approximately 1.2 million lives annually. Non-Small Cell Lung Cancer (NSCLC) is the most common, accounting for 85% of lung cancers. Abraxis Bioscience was a biopharmaceutical company that was recently purchased by Celgene Corp. (CELG). Abraxis developed a treatment for metastatic breast cancer called Abraxane which is already approved and being sold in 35 countries, including the United States, Canada, the European Union and China. Abraxane’s use for cancers other than metastatic breast cancer has been explored with significant results.

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John Hussman is Bearish And I Don’t Blame Him

Gmo
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Below is the latest commentary from John Hussman. Hussman gives 12 reasons to be bearish. Although, I never try to pretend to predict the market I am getting a bit pessmistic lately. While I am finding value in individual stocks (you can see my full portfolio here-http://covestor.com/jacob-wolinsky) the overall market looks rich. The shiller P/E is north of 20 and when that occurs market returns are about 2% for the next ten years.

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Calamos Investments: Finding Hidden Value

calamos asset management
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H/T to Tim Eriksen of http://eriksencapital.com/, who was one of the analysts mentioned in the article.

Calamos provides investment management advice and services to institutional and individual investors. The firm offers more than a dozen mutual funds and five closed-end funds, as well as separately managed accounts. Calamos has expanded its fund lineup to include equity, fixed-income, and alternative investments.

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