Whopper Investments

A morbid catalyst: $SPCO update

Whopper — Tue, 29 May 2012 11:30:02 +0000

I first mentioned SPCO here. Their stock price has stubbornly remained well below NCAV, and that plus an email from a reader caused me to do a deeper dive into the company. And the deeper dive revealed quite a bit. In fact, at today’s prices (anything below $2.50) I think investors are being offered a [...] Related posts:

Jim Grant on Japanese Net-nets

Whopper — Sat, 26 May 2012 14:30:50 +0000

I’ve mentioned my interest in Japanese stocks several times. With that in mind, I found this Jim Grant video (posted on lonestarvalue) really interesting. Grant discusses a company he bought in below NCAV, how mgmt ignored his request for a mgmt buyout, and how it was eventually taken private at 0.9x book value after almost [...] Related posts:

Revisiting a “hidden champion”- George Risk ($RSKIA)

Whopper — Fri, 25 May 2012 11:00:09 +0000

One of my first big winners was George Risk (RSKIA). I talked about it as a stock that I’d love to get on my wish list quite a while ago, and I know it’s been written up quite extensively on the “value bloggers” circuit (oddball stocks here, several times by gannon, and rationalwalk (who I believe discovered [...] Related posts:

Reading $RDI releases annual meeting highlights

Whopper — Wed, 23 May 2012 11:30:08 +0000

Reading (RDI) has enjoyed quite a run since the beginning of the year, with its stock going from the lower $4 range to the mid $5s. Much of this move has been fueled by a huge bull run in the entire cinema segment, as the box office is up almost 20% year over year and [...] Related posts:

Is $GTSI prepping to receive a higher bid?

Whopper — Mon, 21 May 2012 12:00:05 +0000

Whenever a merger I’m interested in is announced, the first thing I do with the solicitation is go straight to the “background” section. I find reading the history and motivations behind the merger always makes for fascinating reading. So when the merger for GTSI came out, I naturally immediately turned to the background section. And [...] Related posts:

$CAGAQ recovery update: over $4.50 per share?

Whopper — Fri, 18 May 2012 16:00:31 +0000

Ok, I know I promised yesterday that I would try to stop making this the “all CAGAQ” blog. But a reader sent me an updated waterfall including the most recent balance sheet / income statement (through the end of march), and I thought it might be nice to show how someone else was valuing the [...] Related posts:

Blind stock valuation: the solution

Whopper — Fri, 18 May 2012 04:14:39 +0000

I really enjoy the blind stock valuation challange run by Gannon, and I always regretted not participating in the first. Unfortunately for all of you, I’m giving you the best solution right here. Don’t bother trying; this is the winning answer. The solution? Don’t be impressed by the huge growth in revenue, profits, etc. The company [...] Related posts:

Some housekeeping and $MHGU / $CSWC updates

Whopper — Wed, 16 May 2012 17:32:17 +0000

First, sorry for the lack of ideas lately. Work continues to get in the way of my goal of posting one intriguing idea a day, but the good news is I have several good posts “in the hopper;” I’m just waiting for Mr. Market to cooperate and fill my order! Anyway, to stop this blog [...] Related posts:

How do I get $4 per share for $CAGAQ?

Whopper — Mon, 14 May 2012 19:05:42 +0000

Following my early post on CAGAQ arbitrage opportunity, I got several emails / comments asking how I got to $4 per share as recovery value. I went through the math in more detail and came up w/ a minimum of $3.80 in value: here’s my updated math (if anyone comes up with some thing else [...] Related posts:

Cagle’s ($CAGAQ) update / arbitrage opportunity

Whopper — Mon, 14 May 2012 14:39:10 +0000

I mentioned Cagle’s (CAGAQ) a few weeks ago as a potentially interesting bankruptcy situation. Last Thursday, the company announced the winning bid, which came in substantially above the “stalking horse” bid. The share price has shot up in response (from ~$2.00 when I discussed it to ~$3.26 today). However, I’m actually adding to my position [...] Related posts: