LowIQinvestor

Decided to cover SDS and VXX. Going long SXCL (Net Net)- Oil & Gas

SXCL also has $45M in NOLs.

SXCL just delisted from NASDAQ. Mandated selling from small funds. Business is being valued at $0. Company will still post 10-Qs to website. Market cap = $128M " generated $11.7 million of adjusted EBITDA and have a strong balance sheet with $127.9 million of cash and marketable securities"

SDS is down 13% and VXX is down 15% since this post. Not covering...

" This is just short covering, not legitimate long term buyers".....says market pundit. I kid you not, my local radio station (large metro area) had a "stock market consultant" as a guest and he fielded questions from callers yesterday. The stock market consultant was talking all about technicals and saying he sees no reason to buy stocks unless the market rebounds (huh?). Then a caller asked how they can short auto loans.. I've become more bullish! Happy friday

Overstock.com Accepts $20 Million to Settle Market Manipulation Case https://globenewswire.com/news-release/2016/01/28/805775/0/en/Overstock-com-Accepts-20-Million-to-Settle-Market-Manipulation-Case.html SEC Charges Goldman Sachs With Improper Securities Lending Practices https://www.sec.gov/news/pressrelease/2016-9.html

BTW: SDS is a flawed instrument for expressing a long term negative view on the S&P 500. It works for very short term views... "ProShares UltraShort S&P500 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P 500 (the Index)." I think a year from now, SDS could be down very substantially. 20 + %

Thank you for your words of encouragement!

Overwhelming amount of negativity:) We are shorting SDS and VXX today. I believe these will yield excellent long term results. Don't get too negative...it clouds your thinking

Thanks for the suggestions everyone. If only there was an easy way to get on the boards of some of these companies to implement change!

FYI: In case you haven't already... http://blogs.wsj.com/moneybeat/2016/01/12/rbs-warns-sell-everything/

Found another one Support.com- SPRT - looks like a failed business in call center software. But lots of cash. ( No position) Digging into it soon...

Franklin Resources - Ticker BEN Johnson family owns around 35%

Gotta Love Tax Loss selling in micro-cap land at the end of the year. Got a few fills on SXCL :)

Can anyone find a better interest rate than 1%(APY) on a savings account? If so what bank? Community banks maybe? Ally Bank seems to have the highest I can find. Thanks

VIACOM - VIAB 7 PE and yielding 3.8% Worth at least 30% more and FRFHF for downside protection

Thanks, I'm generally looking for Net/Nets with not much (if any) debt. I know, tough to come by... I just bought SXCL and plan to add to it if gets any cheaper than below net cash!

That's how I am thinking about it as well. In the case of SXCL , the NOLs were generated by a different mgmt team. It was a shell but now has new operating cos in oil/gas, sports and they own some publicly traded securities such as IGOI. SXCL is a sub of Steel Partners. They are buying back shares recently.

How do you guys think about the value of NOLs? SXCL has a good amount of them but I have generally excluded them from my valuation. Any thoughts?

I very much like both of these ideas! I'm betting heavily that you are correct on BEN. Happy Holidays!

"Burning cash right now. Around $5-10mm a quarter" ---That is giving me pause I would encourage you to look into SXCL- http://steelexcel.com/ Safety due to the balance sheet

I've looked at PCO and can't figure out what their plan is? The Cash and NOLs are attractive but put in the wrong hands they can quickly be destroyed. I guess they were looking to be a patent troll...but that hasn't worked out. What's plan B? SXCL-Steel Excel looks like they had a plan to roll-up some oil and gas equipment cos but the timing was nothing short of horrendous. But at least there are some operating businesses to evaluate in addition to having lots of cash/marketable securities ( and NOLs). Thanks for the responses...keep em coming.

I'm looking to put together a basket of cash rich net/nets. Anyone have some? I'm taking a fresh look at SXCL: $147M Market Cap $140M in net cash Any others on people's radars? Thanks

Getting fairly close to Buffett's buyback price! 1.2x book is 7% lower

http://www.reuters.com/article/us-seritage-growth-equity-buffett-idUSKBN0TT1OH20151210