What I like about CJR: first: the stock is not analyzable by mere mortals - it's Canadian, data is sparse, trading history is not even one year long, comparable metrics (to other media companies) are esoteric (imo. for example the people who like to analyze broadcast companies using total debt to "adjusted" EBITDA) -- and I have to totally defer with these things to those knowledgeable, like Twister, et. al. In short, this is a stock that certainly screams 'don't mess with what you don't know'. And I admit I'm one who doesn't know --- but it won't stop me. -g-
If we look at institutional holders we see a cross section of holders whom we might assume to be smart value investors: Gabelli Funds, Neuberger Berman, Liberty Acorn. They are either selling out as I buy in, or if they're holding, I'm getting a better price than they got.
I will hope the risk of total business screw-up is small with CJR. The radio stations and tv programming ventures ought to provide decent cash flow. It seems like everybody (I include CJR) ought to now be aware of the dangers of internet ventures becoming financial sinkholes. I hope CJR are able to control and cap the funds they are investing in their many ventures.
The stock's at its lows. It could go lower. But given enough time - say a year or 18 months, it's also possible the stock could receive more investor attention and could rise also. I bet on the rise.
Paul. |
