Monthly Archives: August 2013

$LAM.L – Lamprell – too quiet for my liking

LAM (Lamprell) make oil rigs. Demand for the product is high, and after a series of mishaps in 2012, the stock is up 49% YTD. Impressive as that is, most of the gain occurred in January. It is currently trading … Continue reading

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A tip on avoiding one crowded trade

I see TCG (Thomas Cook Group) is down 4.8% today. Ouch. TT. (TUI Travel) reported its Q3 results today, in which it reported strong demand across key markets, operating profit up 18%, and was well positioned to deliver on its … Continue reading

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EFFs – Equity Finance Facility

I noticed that FJET (Fastjet) has recently been involved in EFFs, or “Equity Finance Facilities”. What are they, and what do they imply? The basic gist seems to be, from what I can gather, is that a company C is … Continue reading

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A follow-up to the shorting experiment

Back in December, I wrote a blog post (blost?) on looking at heavily-shorted shares (http://is.gd/E9QV46). According to The Globe and Mail (http://is.gd/CfG1gX), you can beat the S&P500 by 9.3% pa by investing in large- and mid-cap stocks that are heavily … Continue reading

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$FJET.L – Fastjet – crashes and burns

FJET (Fastjet) is an airline company. At a time when shareholders in the likes of DTG (Dart) and EZJ (easyJet) are counting their profits, share in FJET slumped 11% to 1.12p today off the back of an RNS (http://is.gd/78puqM) proposing … Continue reading

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6-month checkup

Here’s what I was talking about in Jan 2013: Bruce Greenwald’s completely misguided snub of Apple https://mcturra2000.wordpress.com/2013/01/27/greenwald-2005-on-apple-i-dont-think-a-smart-value-investor-will-invest/ Financial Chicanery https://mcturra2000.wordpress.com/2013/01/27/whats-behind-the-numbers-a-guide-to-exposing-financial-chicanery/ David Einhorn on ROE https://mcturra2000.wordpress.com/2013/01/25/einhorn-2006/ Einhorn argues that for non-capital-intensive business (e.g. services, pharma, software), ROE is irrelevant. For capital … Continue reading

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$PIC.L – Pace – value and momentum

PIC (Pace) is in the telecommunications equipment sector – making STBs (set-top boxes), “gateways” (ADSL, fibre and other connecting devices) and “software” (user interface software for video content). I have been a shareholder since 2009. Life as a PIC shareholder … Continue reading

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