The ranks of unlisted stocks include several real estate companies. I’ve been reviewing these with interest, on the thesis that the combination of low visibility and the difficult accounting of real estate firms often results in unjustifiably low valuations. Sure … Continue reading
A note: I have decided to expand this blog’s focus to include listed microcap and/or illiquid securities. The unlisted world is and will remain my bread and butter, but I am simply finding more opportunities for profit outside that world … Continue reading
Last December I wrote about Calloway’s Nursery, a tiny chain of nurseries operating in Texas. Calloway’s was profitable, but also highly indebted. My post focused mainly on the company’s earnings power, but some other bloggers chose to focus on the … Continue reading
A company’s worth consists of the value of its operations, plus the value of any non-operating assets, such as excess cash or unused real estate. Most public companies do not hold significant excess assets. Ranks of activist investors stand ready … Continue reading
Liberator Medical Holdings is a fast-growing, profitable distributor of medical supplies, focused on managing chronic conditions. Liberator’s balance sheet is pristine and the company recently announced a dividend and buyback authorization. Many who suffer from chronic conditions, are recovering from … Continue reading