tag:blogger.com,1999:blog-7294165939647321702.post8956921386974248317..comments2024-03-11T10:31:06.107-04:00Comments on <center><a href="http://www.barelkarsan.com">Barel Karsan - Value Investing</a></center>: A Public Hedge FundSaj Karsanhttp://www.blogger.com/profile/04493152766022812984noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-7294165939647321702.post-80289679244149485342010-07-14T16:52:58.691-04:002010-07-14T16:52:58.691-04:00Hi Anon,
I've written my thoughts on HQS here...Hi Anon,<br /><br />I've written my thoughts on HQS here:<br /><br />http://www.barelkarsan.com/2010/06/are-those-really-sales.htmlSaj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-43645927240477591432010-06-28T17:58:27.362-04:002010-06-28T17:58:27.362-04:00Hi Paul,
When I look at the 10-Q, I only see $8.7...Hi Paul,<br /><br />When I look at the <a href="http://www.otcmarkets.com/edgar/GetFilingPdf?FilingID=7264842" rel="nofollow">10-Q</a>, I only see $8.7 million available for liquidation...are we looking at different files?Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-33761419690110779182010-06-20T18:31:58.398-04:002010-06-20T18:31:58.398-04:00Hi Another VI,
I'm not sure it's such a l...Hi Another VI,<br /><br />I'm not sure it's such a lock that $1.60 will be offered for everyone tendering. But anything's possible, you may be right.Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-82306043893872632722010-06-18T00:56:34.731-04:002010-06-18T00:56:34.731-04:00Saj,
My view is that management will try to buy b...Saj,<br /><br />My view is that management will try to buy back as many shares as possible. The quantity they seek is likely to be greater than the number of shares tendered, and thus the stock will be tendered at its max price of $1.60, creating a quick $0.11 (7.4%) profit for the investor who tenders his shares.<br /><br />I know this is closer to an arbitrary opportunity than value investing, but the idea of limited downside with good upside (annualized) stays.another value investorhttps://www.blogger.com/profile/07659083327214275843noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-40249942883929449752010-06-17T20:58:54.797-04:002010-06-17T20:58:54.797-04:00Hi Another VI,
Where do you see the opportunity? ...Hi Another VI,<br /><br />Where do you see the opportunity? I'm not sure I see what you see.<br /><br />Hi Anon/Paul,<br /><br />I don't know much about HQS/FTAR. I'll take a look sometime soon; if I find anything interesting I'll post it here.Sajnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-67347365506304605062010-06-11T16:05:39.330-04:002010-06-11T16:05:39.330-04:00What do you guys think about this? I'm pretty ...What do you guys think about this? I'm pretty new to the value investing concept, so I appologize if this one is stupid. But, if we look at FTAR, a former footwear manufacturer that is liquidating. On page 4 of the 10q, it looks like shareholders have liquidation value of over $16 million, but the market cap is only about $6.6 million. I'm probably missing something, but would certainly like to get anyone's thoughts. Thanks!Paulnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-76819594331591467082010-06-11T13:09:14.069-04:002010-06-11T13:09:14.069-04:00What are you thoughts on HQS? You have investing ...What are you thoughts on HQS? You have investing in Chinese stocks like Orsus Xelent, so you might have some more insight to this. They trade below NCAV, a large portion of their market cap in cash, and have been profitable for the last couple of years.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-74118220493296794912010-06-11T12:34:29.267-04:002010-06-11T12:34:29.267-04:00Given the dutch auction has a max offer price of $...Given the dutch auction has a max offer price of $1.60 and the shares are trading at $1.49, is this a good special-situation opportunity?another value investorhttps://www.blogger.com/profile/07659083327214275843noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-24242529246033158982010-06-11T09:27:19.718-04:002010-06-11T09:27:19.718-04:00Ya thank god the new fee structure is not on the e...Ya thank god the new fee structure is not on the existing net assets. <br /><br />It's so frustrating that management talks about how the shares are undervalued and then decides to issue shares below book. <br /><br />Still holding for now though.editorhttps://www.blogger.com/profile/12858695074851273911noreply@blogger.com