Different Methods for Uncovering Red Flags and Fraud

"After all, you only find out who is swimming naked when the tide goes out.  - Warren Buffett" There a basically two main reasons for a total loss of capital companies that are cooking the books -> financial statements manipulation and fraud bankruptcy In most cases these risk are frequently found together. Management’s desire [...]


Compliance Issues Impedes Hedge Funds Capital Raising

When the JOBS Act was first promoted to the financial sector, its supporters claimed that it would drastically change the way hedge fund managers conduct business. Their promises were quite persuasive — after months of promotions, many were convinced that the JOBS Act would fix some of the industry’s problems — most notably [...]


Ebix Shares Are Likely Headed to Zero: Gotham City Research

Goldman Sachs Group Inc (NYSE:GS) terminated an agreement to acquire Ebix Inc (NASDAQ:EBIX) last night, after the insurance software maker said it was told that federal prosecutors had opened an investigation. We believe Ebix is worth no more than $8 per share, and likely headed to $0.00 per share. See the attached [...]


Infitialis Vs John Hempton on Short Selling

I’m not sure if it’s something in the air, but there’s been quite a wave of “twitter fights” recently. A heated conversation between John Hempton and “Infitialis”, seemed like yet another frivolous fight. If you read through the conversation carefully, however, you gain a rare glimpse into some of [...]


Amerco Looks Promising Ahead of Earnings: Kerrisdale Capital

Via Kerrisdale Capital: In mid-February, we shared our research report on AMERCO (NASDAQ:UHAL), the deeply undervalued and underfollowed holding company that owns U-Haul, the nation's dominant moving equipment rental company. At the time of our report, we outlined why investors could have acquired AMERCO (NASDAQ:UHAL) for only 11x EPS despite [...]


Barrick Gold Crucial Mega Mine May Be Delayed Over a Year

Barrick Gold Corporation (NYSE:ABX) (TSE:ABX)'s crucial Pascua Lama project may face a minimum delay of one year beyond its expected late 2014 commencement date. This is the minimum time the company will need to comply with action points specified by the Chilean environmental regulators. Last month, Chile’s environmental regulators had imposed a [...]


RBS Nears Branch Sale As Part Of Bailout Agreement

Late last week, The Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS) reportedly informed the U.S. private equity (PE) firms JC Flowers and Apollo Management that their joint bid to acquire 316 of its branches has been rejected – bringing down the number of bidders left in the race for the branch sale (dubbed [...]


Short Guide to Unconventional Idea Generation for Shorts

A former classmate of mine (who was fairly popular) seems to be the ultimate short idea generator (all his employers ended up being exceptionally great shorts). If you look at his resume, he looks like the guy you’d want to hire… I’ll let the world (and the all-knowing head-hunters) [...]


Investing in Gold and Miners for Value Investors

I have been dipping my toe into gold stocks having owned Yukon Nevada and Energold (EGDFF) over the last year or so.  I am thinking along your lines that I need to diversify into ten or so names with a mix of producing and near producing.  I wondered if [...]


Value Investing Book Recommendations for Accounting Students

Investing, when it looks the easiest, is at its hardest. When just about everyone heavily invested is doing well, it is hard for others to resist jumping in. But a market relentlessly rising in the face of challenging fundamentals–recession in Europe and Japan, slowdown in China, fiscal stalemate and [...]


Gold: The Most Hated Asset Class?

A gold mine is a hole in the ground with a liar on top–Mark Twain The above chart illustrates how historically cheap gold mining equities are to gold. Not since the Great Depression and Pearl Harbor have equities been so cheap on market cap to production, reserves and cash costs. [...]

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