LC

Who knows, I can't take listening to talk of HFT, 'pinging', sub-penny front running, etc. for more than 10 minutes without wanting to look at an income statement again and get back to reality. ;D Can I ask what broker/program you are using, merkhet? I really like that visualization. That is, if I am not mistaken, level 2 market access?

http://investors.landsend.com/secfiling.cfm?filingID=1193125-14-114621&CIK=799288 Some data in the 10-K (page 36 and page 37) go back to 2009. I haven't found older sales numbers yet. Thank you. You know, it doesn't look like it's terribly overvalued. 10x FCF may be rich, but this is a company that did 200-225m in EBITDA* back in 2009/2010. As someone mentioned above if they can reach those numbers again (inventory mgmt may be the lever to pull here now that they are out of SHLD's tentacle grasp) then today's price may provide an attractive price for a very good business. *I'm talking ebitda here just to make the point that their current operating results aren't due to massive leveraging (interest expense) or expansion (depreciation)

Is there any more sales data than the 3 years presented in the 10-k? I sold my small stake today with LE trading around 10x my estimate of owner's earnings. The status of the business didn't look terrible: a reasonable amount of debt such that I wasn't concerned, obviously asset-light and profit-generating. My concern is how much sales can/will fluctuate. I wish LL Bean was publicly traded :)

SD I believe wrote something the last time a topic of this nature came up, and I am paraphrasing here: "If you're good enough to be a top research analyst then you're good enough to start and run a business, and contribute directly and meaningfully to society".

Thank you Sanjeev (and Mohnish!) 8)

What he's suggesting is that they obey the law. I see it more like, "I pay taxes and therefore they should, too."

I actually prefer not having a rating or "star" system on posts. That way I can judge the merit of individual posts without any pre-conceived bias about the quality.

That's why you purchase an OOM put! :D

I agree, especially since it was hard work done by previous forms of management that really built the brand machine that current management is benefiting so well from...

lol, i just thought of Vonnegut's likely response to "can a woman make you rich?"..."can a glass of syrup make you a turkey?"

The real killer is that two Armani XLs are not the same size and cut. What you need is tailored measurements or an image file which are uploaded to a vendor who makes the item for you, and as far as I know both ventures exist already.

this kind of news is always sad...best wishes to the family at Ruane Cuniff.

I agree with Parsad about the time it takes to be really frugal. At some point it's just not frugal. I really like the outdoors and cooking, so that has the side benefit of cheap vacations (lots of camping/hiking/fishing), cheap meals (I love cooking dinner and making food myself such as fermenting pickles and other veggies, aging my own steak), and a green thumb growing all kinds of things. But if I didn't enjoy these processes, it wouldn't be worth it. On the other side, I always tip service people (waiters, bartenders, baristas, etc.) really well, especially if I think I will go back. It usually pays off: they let me in on social things they are privy to and such. Plus it almost guarantees excellent service.

Apologies if this was posted previously: http://www.bloomberg.com/news/2014-03-24/lampert-stops-buying-sears-ious-as-cash-burns-corporate-finance.html

I think in the general case, yes obviously investment benefits society. We need investors to pump capital into solar energy. In specific cases of course it can be harmful. Focusing on the bottom line at the expense of safety spending etc. can be terribly harmful. So I guess, like all things, there is good and bad and you can't have one without the other. Overall, investment has benefited society IMHO.

+1 How do you explain dealing heroin or any of the other various forms of criminal enterprise? Or cutting costs to the bone in 3rd world chemical plants to the point where poison leeches into drinking water? 1st - to the extent a black market profit is achieved, most of the time I think its still a sign of doing good. You are providing a customer with something desired. The exception is for items used to assist in future crimes (if you are aware of this), such as a dealer of weapons to a terrorist group. I never bought this argument. It makes sense logically if you want to rationalize it that way, but it's so far from common sense I want to cringe. So here I am, knowing that the heroin I sell may very well ruin your life and the life of your loved ones. Or it may not, and you may use it responsibly. Heck, how should I know for sure? I just met you 5 minutes ago before we walked down this dimly lit alley. In any case, you want it, so I'll provide it. If I don't someone else will, right? So don't blame me, I'm just making a profit, doing my daily dose of good for society.

Errors of omission sure are lousy

Stirring the waters: http://www.scribd.com/doc/213316422/Short-Aamc-glaucusresearch-long-Resi-mar-19-2014

I don't know the answer to that, which is one of the reasons I've been passing recently on these dutch auctions where the market price is generally in the middle of the tender range. Hopefully another forum member has some experience.

As well as the ability to build and nourish a professional network.

I wonder if any big owners of auto dealerships in NJ were helpful in Christie's political career? ::)

I believe he is referring to the fact that the stock price should be reduced upon paying a dividend, and because the value of the call option is derived from the stock price, the dividend payment reduces the value of the call. However isn't this usually "priced in" to the premium of the call?

Have you looked at Smith & Wesson? Looks cheaper to me with the same drivers and, IMHO, brand.

Anyone taking a look at these levels? Melting ice cube I think, but how quickly it melts is IMHO the question. There's also the question of what the real estate/leases are worth.

Ted?