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Strategies & Market Trends : Turnarund Investing

NOVS 0.0666

-16.0%

Aug 1 5:00 PM EST

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To: batman10023 who wrote (1007)	5/4/2012 11:57:34 AM
From: grahamcracker	1 Recommendation of 1876

<<...the brand has some value but not sure if it's enough to cover the debt...>> IMO, you've nailed it. It's amazing how simple some analysis can be. If they had less debt (a whole lot less), I'd be interested, using the brand as a starting point in the justification. The other thing is the negative tangible book. I like to interpret goodwill as a measure of how much management has overpaid for the things the've bought. In this case, $400M - the hubris index is high. Of course, if they've had to write down goodwill it's even worse than reflected on the B.S. This one is currently a pretty easy no-go.

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