mikazo

GME at 98.8% shares short https://seekingalpha.com/article/4322003-heavily-shorted-stocks-february-2020

"Caledonia increases its shareholding in Blanket Mine to 64 per cent" https://ca.finance.yahoo.com/news/caledonia-mining-corporation-plc-caledonia-070010321.html Does this mean we can expect higher revenue in the coming quarters from the increased ownership? I'm new at analyzing mining stocks. The purchase price of $16.667 million implies Blanket being worth $111.113 million, 64% of which Caledonia now owns, presumably valued at $71.112 million. I assume the share issue price of $7.15 was chosen back in November 2018 when shares were trading around that price and the deal was first announced. Receiving deal approval from the Zimbabwe regulatory authorities seems like a good sign.

Hi, I'm late to the party, but I saw this idea in the multi-bagger opportunities thread and thought I'd do some research. I read through this thread first and then started looking at documents from the Atento website. I'm only just getting started, but a footnote stood out to me in their Q3 2019 results, in answer to your comment about exchange rates affecting interest rates: "(1) Cross currency swaps covers 100% of interest until maturity in Aug/2022" (page 13 https://s3.amazonaws.com/mz-filemanager/89e54f51-9039-43b3-9c2c-45e55fab990c/956c297c-a833-4ee3-ab45-2e24ed5d1705_Q3%202019%20Atento%20Earnings%20Presentation%2011.13.19.pdf) I don't yet know what the cost of these swaps are.

There seems to be some concern about depletion of groundwater and the increasing costs of pumping it to the surface from deeper depths. https://www.denverpost.com/2017/10/08/colorado-eastern-plains-groundwater-running-dry/

Interesting thread about Stadia https://twitter.com/mcclure111/status/1196557401710837762?s=21

I wasn't sure from your analysis whether you were using total revenue or Consulting Fee Revenue. It's an important distinction, so I just wanted to point it out to anyone that is looking at this company. From the 10-K: "Consulting Fee Revenue We believe an important performance measure is consulting fee revenue (“CFR”). The professionals we deploy to execute contracts are occasionally subcontractors. We generally bill our clients the actual cost of these subcontractors and recognize this cost as both revenue and direct expense. CFR refers to our revenue excluding amounts paid or due to subcontractors. We believe CFR is an important measure because it represents the revenue on which we earn gross profit, whereas total revenue includes subcontractors on which we generally pass through the cost and earn minimal or no gross profit."

SGA (Saga Communications Inc.)

As a holder of several different TD e-Series index mutual funds, I received some mail advising me of proposed changes to investment objectives of several of the TD mutual fund offerings. I was intrigued, so I read the management information circular (available here: https://www.tdassetmanagement.com/document/PDF/news-insight/MANAGEMENT_INFORMATION_CIRCULAR_IN_RESPECT_OF_SPECIAL_MEETINGS_OF_UNITHOLDERS_EN.pdf) To summarize, several of the index mutual funds propose to change the language that describes the index on which they are based. More specifically, to "replace the name of the benchmark index with a general description of its benchmark index instead". The intention is to change the index to one of the appropriate Solactive indices. In addition, a second change is proposed, that would allow up to 100% of the mutual fund to be invested in the equivalent TD index ETF. I wonder if this would allow the mutual funds not to have to pay fees to Solactive at all, since the funds would hold the ETFs, and not direct positions to mimic the index. Here's a summary of the proposed changes: TD Canadian Bond Index Fund -> Solactive Canadian Select Universe Bond Index -> achieved with TD Canadian Aggregate Bond Index ETF TD Canadian Index Fund -> Solactive Canada Broad Market Index -> achieved with TD Canadian Equity Index ETF TD U.S. Index Fund -> Solactive US Large Cap CAD Index -> achieved with TD U.S. Equity Index ETF TD International Index Fund -> Solactive GBS Developed Markets ex North America Large & Mid Cap CAD Index -> achieved with TD International Equity Index ETF The resulting lower fees paid to Solactive are partially passed on to the investors in the form of management fee reductions on each of the affected mutual funds. The e-Series funds see a small reduction, and other series a more significant reduction (details in the circular). With regard to taxes, the circular mentions that small portions of the funds will incur capital gains tax, but not enough capital gains to warrant a special dividend. Units held in tax-sheltered accounts would not be affected. There has been some discussion elsewhere on the internet about the changes, but most people don't seem too worried. https://www.reddit.com/r/PersonalFinanceCanada/comments/cwa7bn/td_eseries_index_switching_index_provider/ https://www.reddit.com/r/PersonalFinanceCanada/comments/cgw4yl/investing_changes_to_td_eseries/ http://www.holypotato.net/?p=2242 https://www.canadianmoneyforum.com/showthread.php/138494-TDAM-e-series-funds Two specific questions come to my mind: [*]Will Solactive indicies affect the asset mix in any negative way? These indicies are calculated in large part by computers and automation. [*]Is it too risky to invest in a mutual fund that invests solely in a single ETF? Specifically, if there is a liquidity crisis and high demand for fund redemptions, I assume it would be much harder to liquidate units of a single ETF, rather than various stock or bond positions.

Would the unrealized gains/losses on this spreadsheet be accurate? I think so, if it's pulling latest quotes from Google Finance. Interesting to see where this fund ended up, especially compared to SPY.

I decided a few months ago to transition away from value investing and toward index investing. I simply don't have the time required to research value ideas. It makes me feel better to see others have come to the same realization.

Thank you for your input, much appreciated! Your book has taught me well, apparently ;)

I've been researching this bank and here's what I've noticed so far: 0.92 Price/Book Very low ROE (1.5%) Very low non-performing loans Improving efficiency ratio (66% in November 2016, 56% in November 2017) due to decreasing expenses and increasing net income 70% of total assets are investment securities (corporate debt of large companies) and mortgage-backed securities Rising interest rates probably explains the increase in investment security income Only 22% of total assets are net loans receivable 52% of liabilities are short-term FHLB loans It seems to me like this bank is in the business of taking deposits and FHLB loans and investing them in corporate debt and MBS's, rather than loaning out the money. I don't know whether this is because of low demand for loans in their market area, or too-strict lending standards, or what. The only value I can see here is a potential acquisition target for the bank's deposit base, which has stayed consistent for years. I'm new to analyzing banks, so I'm curious what others think about this.

Just finished the book last week. It has made me more interested in researching small-cap bank stocks!

Really interesting thread on the timeline and effort of making wide-ranging changes to CPUs: https://twitter.com/securelyfitz/status/949370010652196864

Broadcom offers to buy Qualcomm for $103 billion, in what would be the biggest tech deal ever http://business.financialpost.com/technology/update-1-broadcom-offers-to-buy-mobile-chipmaker-qualcomm-for-103-billion