tag:blogger.com,1999:blog-7294165939647321702.post492153312858330539..comments2024-03-28T13:45:43.362-04:00Comments on <center><a href="http://www.barelkarsan.com">Barel Karsan - Value Investing</a></center>: Natural Barriers To CompetitionSaj Karsanhttp://www.blogger.com/profile/04493152766022812984noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-7294165939647321702.post-17568159331161297012010-06-07T14:45:03.129-04:002010-06-07T14:45:03.129-04:00Thanks, Adam!Thanks, Adam!Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-44830861142686637762010-06-03T20:06:40.041-04:002010-06-03T20:06:40.041-04:00Saj,
Nice writeup on NOOF - I originally found yo...Saj,<br /><br />Nice writeup on NOOF - I originally found your analysis on Greenbackd.<br /><br />I think the stock is woefully undervalued and under followed, probably due in part to the nature of the business. The goodwill writedown last year really cut into the price but I haven't seen any news for the recent decline.<br /><br />I've written an analysis on my blog as well. Value should be at least $3.50<br /><br />-Adam Sues<br />http://www.valueuncovered.comAdam Sueshttp://www.valueuncovered.comnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-56951286955902744672010-05-26T19:31:52.875-04:002010-05-26T19:31:52.875-04:00Hi WM & R,
I agree that US margins will be pr...Hi WM & R,<br /><br />I agree that US margins will be pressured, but it looks like NOOF will be able to push back on content providers as well. Also, since it is a scaleable business, as international revenues increase, margin pressures should also alleviate.<br /><br />They do expect to recover the $5 million in producer-for-hire cash (plus a profit margin) in the next two quarters (half this quarter, half the next quarter).Saj Karsanhttps://www.blogger.com/profile/04493152766022812984noreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-38168117077492525072010-05-25T12:52:03.753-04:002010-05-25T12:52:03.753-04:00Not an opinion on the particular idea, but more of...Not an opinion on the particular idea, but more of a macro view: It seems that porn business is in secular decline with no clear solution in sight.<br /><br />http://articles.latimes.com/2009/aug/10/business/fi-ct-porn10Turarnoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-81966889642900015112010-05-24T20:01:10.995-04:002010-05-24T20:01:10.995-04:00yo saj, i do hope u ve sufficient reasons 4 being ...yo saj, i do hope u ve sufficient reasons 4 being able to ignore the concerns highlight by wide moat. (sorry saj, but i gotta admit dis is my all time fav post, investing sure is a gr8 biz!lol) how is d free cashflow position of dis co.?rayhaannoreply@blogger.comtag:blogger.com,1999:blog-7294165939647321702.post-39109162080468134652010-05-24T12:20:22.515-04:002010-05-24T12:20:22.515-04:00I used to hold this and sold in March.
The gross ...I used to hold this and sold in March.<br /><br />The gross margin on their renewed contracts with domestic providers is significantly lower than the past.<br /><br />The gross margin on new contracts with international providers is much better, and revenues in those markets are growing nicely.<br /><br />I don't really know what to make of the nearly 5m they have spent on these recent producer-for-hire deals. A big investment relative to the market cap, and too little public disclosure for me.Wide Moathttp://widemoatinvesting.comnoreply@blogger.com