Small-Cap Value Dog
Part Six of Worst in Show
This dog breed has a dense and powerful, low-slung body with wide shoulders and a massive short-faced head. Despite its early breeding to bait bulls, the Bulldog is gentle and good natured and makes an excellent companion for the whole family. Doggies.com
Sir Winston Leonard Spencer Churchill:
You can always count on Americans to do the right thing—after they’ve tried everything else.
Bessie Braddock: “Sir, you are drunk.”
Churchill: “Madam, you are ugly. In the morning, I shall be sober.”
Nancy Astor: “Sir, if you were my husband, I would give you poison.”
Churchill: “If I were your husband I would take it.”
History will be kind to me for I intend to write it.
The Mainstay: Small-Cap Value Fund (MSPAX) is no legend
This fund is consistent; consistently bad. History is unlikely to be kind to this dog of a fund...the performance numbers smell like bulldog flatulence.
Shake this fund loose from your portfolio and head to a pub....and knock back a classic.
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
Wall Street Under Siege
Under-performing money managers have long been under the gun...and usually clients express their displeasure by pulling the assets.
Sell-side analysts too, routinely received death threats earlier this decade as the bubble unwound.
But some wacko is taking things to a higher level:
Police: Suspicious Package Had No Explosives
Pipe Bomb Also Found In Kansas City
(AP) CHICAGO
A pipe bomb delivered to a Chicago investment company last week was accompanied by a letter directing the firm to invest in various stocks, sources said Friday.
Authorities said they are investigating any links to a similar device discovered Wednesday—along with a threatening note—at American Century Investment’s mail facility in Kansas City.
The Chicago package originally was delivered to Janus Capital Group Inc. in Denver, sources said. Janus forwarded the package to Perkins, Wolf, McDonnell & Co. in Chicago.
Chicago Police were called about 3 p.m. Thursday about the suspicious package in the company’s office at 311 South Wacker.
Perkins, Wolf, McDonnell handles certain business for Janus, officials said. A spokesman for the firm directed questions to Janus.
“Our chief concern is our employees,” said Janus spokesman Blair Johnson, adding that the company has been updating workers about the incident.
Johnson said he didn’t think the threat involved any problems with Janus’ performance.
The U.S. Postal Inspection Service will analyze the device, the note and the package, officials said.
The bomb was constructed of plastic pipe filled with black powder, sources said. Wires protruded from the device, but there was no trigger to detonate it, sources said.
A letter accompanying the bomb cryptically referred to a February “stock rally.” The writer apparently wanted Janus, a mutual fund company, to invest in certain stocks. Authorities would not identify the stocks. Read more at CBS2 Chicago
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The letter was similar to another threatening note received at an American Century Companies Inc. mail facility in Kansas City on Jan 31. Investment News
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author.
exsqueeze me
We hate to interrupt your trading day with a bloody tussle…
The CROCS (CROX-NASDAQ) saga continues…
The Robert Baird upgrade today is breathtaking. Not only because they got off the fence from neutral to buy...but they raised their price target from $47 to $80. They must have been out to lunch for a while.
A nice round $100 target might have gotten them more publicity...Blodget-style.
Maybe the bears should call PETA...this story is as abusive as anything we have seen
Speaking of animals...guess who was buying the snot out of it in the fourth-quarter of 2006?
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. No positions in securities or funds mentioned above.
No Joke
The rumors are true…
Dan is mellowing with age....
there is nary a guffaw in this letter…
February 2, 2007
The Board of Directors
Flow International Corporation
23500 64th Avenue South
Kent, WA 98032
Dear Sirs:
As your know, entities advised by Third Point LLC ("Third Point") are collectively the largest shareholder of Flow International Corporation ("Flow" or “the company") holding 13.6% of its common shares, plus warrants.
We began accumulating our position two years ago, based on our view of the fundamental strength of the Company’s target market and technology, and our personal confidences in the leadership of Stephen Light as Chief Executive Officer, based on his record of success in his previous career with much larger companies, as well as his keen analytical ability and communication skills. We increased our position over the last two years primarily because he continued to meet or exceed our high expectations. At the same time, we have been concerned that the relatively small scale of the Company’s operations and its public status resulted in a disproportionate amount of general and operating expenses, concerns which have been underscored by the recent financial restatements.
Given our views, we were of course disappointed to see the announcement of Mr. Light’s plans to retire. In light of this development, we believe that the time has come for the company to be sold, rather than seek to continue operating independently under new leadership. Based on recent conversations with industry participants and a financial advisor, we believe a sale could be accomplished at a significant premium to the current market price. Accordingly, we urge the Board to halt the search for a new Chief Executive Officer and immediately retain an investment bank to offer the Company for sale.
Sincerely,
Daniel S. Loeb
SEC.gov
What is next...the collected works of Richard Breeden?
Dan had a longer run than Seinfeld
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. Underthecounter has no positions in any securities or funds mentioned.
Small-Cap Blend Dog
Part five of Worst in Show
Chihuahua’s can be trendy accessories, easily fitting inside a purse to join you for a night on the town. You can become quite attached to the breed, and they are often far more intelligent and appealing than even their pathetic owners.
Although reserved to strangers and unknown pets, Chihuahuas are very loyal and devoted to their owners. The Chihuahua dog breed is known for its saucy expression and alert attitude. Despite their small size, Chihuahuas make good watch dogs. Doggies.com
Chihuahua’s are a special breed...we started our career in the style-box they represent. The Small-Cap blend category is nearly as old as the Chihuahua itself, and properly bred examples can steal your heart away, offering up an embarrassment of riches few investors outside of the America’s ever experience.
But these funds are saucy indeed. And picking the wrong Chihuahua can leave investors with a wicked case of heartburn. The Calvert New Vision Small Cap fund (CNVAX) won’t put any food on your table, and might even make you sick.
Skip this fund and head straight to a cantina.
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The content contained in this blog represents the opinions of 1440 Wall Street. This commentary in no way constitutes a solicitation of business or investment advice. It is intended solely for the entertainment of the reader, and the author. No positions in any funds mentioned .
