howardroark’s Activity

Fri Nov 21

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 6:56 PM

Re: Handing Big Debt Companies

how does one determine this?

If it is cheap enough given the leverage structure?


I read this thread quickly -- at some point I think you were trying to double count the cost of leverage, but I think you got to the basic [more]

Fri Nov 7

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 2:17 PM

Re: The Walking Threads

Resurrection possibility: Parachute pants

Important update. Noted Thread Walker Body Central may be attempting to execute the never-before-tried Vanishing Zombie maneuver. The perhaps soon to be ironically named BODY announced today [more]

Sun Oct 26

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 8:47 PM

Re: amzn

I choose to believe that there are multiple pathways to success and multiple approaches to Non-GAAP reporting. Some of these models/approaches/pathways are going to be very foreign to value investors, yet still remarkably successful. Imagine [more]

Sat Oct 25

NL

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howardroark replied to the Deranged Monkey Criticism board. 10:22 AM

Re: amzn

Is their any good justification for AMZN not including their sizable capital lease obligations in their FCF calculation? It looks like that is not running about $1.5b for TTM.

No. About the best thing you can say is that FCF is a [more]

Fri Sep 19

NL

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howardroark replied to the Deranged Monkey Criticism board. 6:20 PM

Re: ESL & Sears

While reading this blog post, imagine a friendly time traveler handing it to Lampert ten years ago just as he was contemplating bidding to buy Sears. The ghost of Christmas future:

[more]

NL

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howardroark replied to the Deranged Monkey Criticism board. 5:56 PM

Re: Interest Rates for Dummies

Isn't this when you start writing about pinball machines or something?

Turns out even pedantry has an aging curve.

Thu Sep 18

NL

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howardroark replied to the Deranged Monkey Criticism board. 3:39 PM

Re: Interest Rates for Dummies

Probably. Why? Because I think Buffett is (gasp) wrong (error of omission) when he wrote:

That may be the least of the gasps. Please know that I am filled with the same quaint mix of disdain and incredulity at myself as everyone else [more]

NL

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howardroark replied to the Deranged Monkey Criticism board. 3:34 PM

Re: ESL & Sears

I don't think it's calculated move to extract value. I think they promised factors $1b in liquidity this year and the sales of Canada/Auto/Protection are going slowly/badly, and suddenly they were coming into the holidays tight. It would be [more]

Tue Sep 16

NL

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howardroark replied to the Deranged Monkey Criticism board. 11:40 AM

Re: Fairway Markets - FWM

I am by no means a retail expert, but here are my notes on FWM. I would love to invest in this company, and have looked at it twice this year, but I see no reason to invest. Am I missing anything. HR, you are very generous to this board (and hence [more]

Thu Sep 11

NL

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howardroark replied to the Deranged Monkey Criticism board. 1:06 PM

Re: dumb question Alert!

Radioshack right now is an interesting case study on thegame theory of capital structure and principal/agent costs that can sometimes be a hidden problem for distressed equity stubs. Just last December, RSH did a big debt deal that consisted [more]

Thu Sep 4

NL

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howardroark replied to the Deranged Monkey Criticism board. 12:08 PM

Re: On an entirely different note

I am starting to believe it. Their economy sucks. You can't manufacture growth out of thin air, but you can devalue your currency which will get the economy moving again - cheaper exports, etc.

When you are strangling someone to [more]

NL

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howardroark replied to the Deranged Monkey Criticism board. 8:46 AM

Re: The Walking Threads

What I want to know is this - why are they giving away money like this? Presumably it isn't some dumb slob making these decisions? You run in bigger circles - what r they thinking?

Are they just playing the lottery?


Look, all [more]

Wed Sep 3

NL

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howardroark replied to the Deranged Monkey Criticism board. 2:48 PM

Re: ancedotal Walmart Stories

have they passed SPLS in online sales yet?

Yes they have, but SPLS popularly reported numbers are kind of fake, anyway, since most of their $10 billion is actually just contract business that was really always "online" in a [more]

NL

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howardroark posted to the Deranged Monkey Criticism board. 2:43 PM

The Walking Threads

Hidden inside every B minus mall in America lurks a lucrative spinoff opportunity for AMC. These zombies may seem benign, wallowing quietly in quaint desolation amid former Things-Remembereds-Converted-Temporarily-to-Army-Recruitment-Posts, but they [more]

Fri Aug 29

NL

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howardroark replied to the Deranged Monkey Criticism board. 11:32 AM

Re: OT: 401k disaster

This is a Hussman mistaken identity update. As a reminder, he claims that an increase in the total savings of households and government must result in a proportionate decline in corporate profit margins, and that this must be true by "accounting [more]

Tue Aug 26

NL

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howardroark replied to the Deranged Monkey Criticism board. 3:15 PM

Re: SHLD

maybe he will bid for FDO too?

Maybe in 2007 when SHLD had a market cap of $27 billion and FDO was $4 billion. In 2014 with SHLD at $3.5 billion and FDO at $9 billion? Well, Fred's is for sale.

NL

Boards Post

howardroark replied to the Berkshire Hathaway board. 8:18 AM

Re: Brk to help finance deal

It seems very unlikely that inversion turns out to be an important or even meaningful part of this deal, though it will be probably be an important part of the narrative.

Some things to note: Inversion does not allow companies like Burger [more]

Mon Aug 25

NL

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howardroark replied to the Deranged Monkey Criticism board. 3:58 PM

Re: SHLD

Don't know if this means anything. All I really know is that you can't get boxer shorts at K-Mart in Cincinnati anymore, given all the store closures. Sorry Raymond.

Shop your way, ET.

[more]

Sat Aug 23

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 10:49 AM

Re: SHLD

It's kind of amazing that this movie is still entirely unresolved. It's as if the OJ chase were still going strong. Or Lost never ended. I mean, it was a full 7 1/2 years ago when we were already getting so bored with this yarn we were going all [more]

Wed Aug 13

NL

Boards Post

howardroark replied to the Deranged Monkey Criticism board. 9:13 PM

Re: New name

It's a nice sentiment kid, but I've studied this issue extensively and unfortunately for you have determined that rendering your shame eponymous does not improve proclamation compliance.

[more]

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