More Wonkiness At Manhattan Bridge

Yesterday, Manhattan Bridge Capital (LOAN), previously discussed on this site because of the massive discount at which it trades to its equity, came out with its 10-K. You may recall that this is the company that issued 1 million shares (when it only had 3.3 million outstanding) to its CEO and controlling shareholder. It would appear that the company's shareholder-unfriendly activities may be continuing.

Overconfidently Anchoring

Noting that positive (negative) earnings surprises tend to be followed by more positive (negative) earnings surprises, economist Dr. Hersh Shefrin makes the point that this occurs because the investor/analyst tends to be overconfident, and furthermore fails to fully incorporate new information (i.e. he is "anchored" to his previous opinion).

The Apparently Contradictory Buffett

As Warren Buffett has become more public with his political views, he has been the target of an increasing number of attacks. Some of the arguments against Buffett's proposals are intelligent, but these don't appear to be the ones that get the most airtime. Instead, the most common response from those who oppose Buffett's minimum tax on the wealthy argues that Buffett is a hypocrite for saying one thing, but behaving in an apparently contradictory matter. The argument goes something like this:

"If Buffett thinks taxes should be higher, why doesn't he just pay more and leave the rest of us alone?"

But are Buffett's actions really contradictory/hypocritical?

Competition Demystified: Chapter 10

The author of the excellent book for beginners, Value Investing: From Graham to Buffett..., is back, this time with a book about how to understand and analyze competitive advantages. Investors interested in better understanding what gives a company a competitive advantage must give this book a read.

Competition Demystified: Chapter 9

The author of the excellent book for beginners, Value Investing: From Graham to Buffett..., is back, this time with a book about how to understand and analyze competitive advantages. Investors interested in better understanding what gives a company a competitive advantage must give this book a read.

PMC Commercial Cheap and Receiving Overtures?

Recently, two apparent value stocks were discussed on this site for their looming catalysts, New Frontier Media and Paulson Capital. Add another one to the list; yesterday, in releasing its fourth quarter results, PMC Commercial Trust stated that it has "received certain inquiries expressing a preliminary interest in potential strategic transactions."

Poor Conditions, Sterling Price

Shares of Sterling Construction (STRL) fell 13% yesterday following the announcement of the company's net loss for Q4 and weak guidance for 2012. As a result, while the rest of the market is doing well, shares of Sterling are now near a 7-year low! Consequently, value investors may be interested in going long this builder of highways and other transportation infrastructure.