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Year: 2019

Kontoor Brands: silly name, silly price? $KTB

Posted On June 26, 2019
Kontoor Brands (KTB; disclosure: long) is a recent spin-off from VF Corp (VFC). At today's prices, I think shares are too cheap, and I expect shares will "snap back" once the typical spin dynamics have played out and the company finds its investor base / announces its first dividend and gets onto dividend investor watch […]

Some things and ideas: May 2019

Posted On May 31, 2019
Some random thoughts on articles that caught my attention in the last month. Note that I try to write notes on articles immediately after reading them, so there can be a little overlap in themes if an article grabs my attention early in the month and is similar to an article that I like later […]

Synalloy quietly undervalued and in play $SYNL

Posted On May 20, 2019
In late April, Privet made an offer to take Synalloy (SYNL; disclosure: long) private at $20/share. Synalloy quickly rejected the offer, and with SYNL's shares currently trading for ~$18.45/share, the market clearly doubts the odds of Privet successfully taking Synalloy private are good. I disagree with the market; I think there's a very good chance […]

J. Alexander's could be a tasty takeover target $JAX

Posted On May 14, 2019
Last month, J. Alexander’s (JAX; disclosure: long) received an unsolicited buyout offer at $11.75/share from their third largest shareholder, Ancora. I think the buyout offer is the first step to JAX selling themselves for a large premium to today’s price of $10.35, though I think it’s an open question whether the sale process will be […]

Some things and ideas: April 2019

Posted On April 30, 2019
Some random thoughts on articles that caught my attention in the last month. Note that I try to write notes on articles immediately after reading them, so there can be a little overlap in themes if an article grabs my attention early in the month and is similar to an article that I like later […]

Some things and ideas: March 2019

Posted On March 29, 2019
Some random thoughts on articles that caught my attention in the last month. Note that I try to write notes on articles immediately after reading them, so there can be a little overlap in themes if an article grabs my attention early in the month and is similar to an article that I like later […]

Brewing up some March Madness $BREW

Posted On March 21, 2019
I generally try not to write updates on ideas (except for Charter (CHTR; disclosure: long); there you get an update basically every quarter!), but I figured an update on my March 2017 post on Craft Brew Alliance (BREW; disclosure: long) was topical because 1) it's March Madness, and they'll be airing some nationwide Kona ads, […]

$KKR is too cheap

Posted On March 13, 2019
KKR (disclosure: long) probably needs no introduction. The company is one of the original private equity firms and will forever be remembered for their role in the RJR Nabisco buyout at the center of Barbarians at the Gate. Today, it is one of the largest investment managers on the planet with $195B in assets under […]

$CWEN too cheap on the heels of $PCG bankruptcy

Posted On March 11, 2019
In early November, it became apparent that California utility PG&E had some exposure to the California "Camp Fire" wildfires. On January 29, this exposure lead PG&E to file for bankruptcy. As a regulated utility, PG&E's bankruptcy will surely be a wild affair as a variety of constituents (regulators, politicians, creditors, equity committee, etc.) will try […]

Some things and ideas: February 2019

Posted On February 28, 2019
Some random thoughts on articles that caught my attention in the last month. Note that I try to write notes on articles immediately after reading them, so there can be a little overlap in themes if an article grabs my attention early in the month and is similar to an article that I like later […]
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