tag:blogger.com,1999:blog-7294165939647321702.post4850399619604199255..comments2024-03-28T13:45:43.362-04:00Comments on <center><a href="http://www.barelkarsan.com">Barel Karsan - Value Investing</a></center>: Artio Assets Offer OpportunitySaj Karsanhttp://www.blogger.com/profile/04493152766022812984noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-7294165939647321702.post-83560895060126297912012-11-06T03:12:02.206-05:002012-11-06T03:12:02.206-05:00Any idea on what a catalyst might be for (1) bette...Any idea on what a catalyst might be for (1) better capital allocation (release of excess cash, etc.) or (2) a return to profitability?<br /><br />Markel seems to have a nice stake, and they obviously know what they're doing, so that's a good sign, because they might be able to flex some muscle with the board, however even those actions can take a while.<br /><br />I'm curious as to what the business issues are here. Cheap is good, especially if managers take advantage of this and buy back tons of stock, and I would love to see that here.Ankit Guptanoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-63999643849961102422012-10-28T12:43:37.404-04:002012-10-28T12:43:37.404-04:00Hi Saj,
I see to two shortcoming in the idea:
1. D...Hi Saj,<br />I see to two shortcoming in the idea:<br />1. Declining AUM and according to their strategy in the international equity fund I don't believe it will produce great return therefore the decline may continue.<br />2. The company seems like a net-net but on the asset side it has a deferred taxes of $190M that the company can use only if it generates enough profit from the 10-K around $38M before taxes<br /><br />What are your views on the downside? Do you consider this idea as a turnaround situation?<br />Thanks to share your thoughts about it.Nathidnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-206527757285375472012-10-25T21:55:44.862-04:002012-10-25T21:55:44.862-04:00I realized that previous post was dated. Thanks fo...I realized that previous post was dated. Thanks for the idea... Harmannoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-40065865004915682632012-10-25T21:32:15.405-04:002012-10-25T21:32:15.405-04:00Hi Saj, Thanks for posting the idea. Assets under ...Hi Saj, Thanks for posting the idea. Assets under management as per latest filing are approx. 18b. I am looking at the latest 8k. Let me know if i am missing any thing. If this is true. It would change the value quite a lot....Harmannoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-22062550571575180712012-10-24T17:59:09.941-04:002012-10-24T17:59:09.941-04:00Is this not cash that investors can withdraw at sh...Is this not cash that investors can withdraw at short notice, if so it is pointless considering it as an asset.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-35744007401267607002012-10-24T14:39:16.142-04:002012-10-24T14:39:16.142-04:00Cash is actually a bit lower. Regarding consolida...Cash is actually a bit lower. Regarding consolidated investments, you have to net out all the other investors which result in about $45MM attributable to ART shareholders. I get total cash around 105MM. Its a melting ice cube, but interesting none the less.Anonymousnoreply@blogger.com