This is Part II of a company which we think is committing fraud, and have investigated further. The original article can be found at the following link: Lying Management, Widespread Errors, Under Investigation And More Update Since our previous article LPS has filed for a stay with the Nevada AG’s office and is now pursuing...
We believe this company is trading at a 20% discount based on ULTRA conservative estimates on a DCF basis and assuming growth is equal to inflation. Using normalized PE the company based on current earnings should have a 50% upside. L-3 Communications Holdings Share Price: $70 Intrinsic Value: $83 Buy Below: $72 Business description and...
The company presented is a defense company, and we believe it is being severely underpriced by the market due to irrational macro fears. Based on very conservative estimates, FCF should increase over the next few years despite broad cuts in the defense sector. Based on today’s price, we believe the company has an upside of...
We present a Canadian Company, which trades on both the Toronto Exchange and has an ADR. The company operates in alternative energy sector focusing on cars. We believe that the company has no unique technology, faces competition, and is deploying capex far too aggressively. The company is currently cash flow negative and based on our...
Sony Corporation – SNE Business description and background: Sony Corporation designs, develops, manufactures, and sells electronic equipment, instruments, and devices for consumer, professional, and industrial markets worldwide. The company offers consumer products and devices, including televisions, video cameras, compact digital cameras and interchangeable single-lens cameras, Blu-ray Disc players/recorders, DVD-video players/recorders, home theaters and audio systems,...
This equity idea is going to be a bit different than previous ones. The following is a thesis on a company with a $5billion market cap. The country where the company is based is facing unprecedented unrest which will remain for the foreseeable future. The company discussed is highly exposed to one of the most vulnerable sectors. Yet the market has...
The Death Spiral Begins In the following article we present the first part of our short thesis for LPS based on potential legal liabilities. In the second part (yet to come) we will present the second leg of our short thesis, which is that LPS’s underlying business is less attractive than it looks in a...
Surprisingly for a company this size there is nearly no coverage. This is a safe company, with a huge market cap. The company trades in both a foreign market and as an ADR on the US exchanges. The stock can be bought by both retail and institutional investors with relative ease and low trading costs....
The first write up is on a pretty large Chinese ADR, which has almost no coverage. While there are no signs I detected of fraud, the article lays out the reasons for it being a good short. I want to investigate further as there are so many frauds listed on US exchanges, that this could be one....
