MR. GREEN HAS ARRIVED
But only for awhile. I succeed by doing things for free whenever possible.
I have been recently accumulating this issue heavily but have
been somewhat disappointed by its behaviour. Deeper investigation
has brought to my attention various rumors circulating the Street regarding the quality of earnings of mrvc.
I have recently visited with mrvc management. I have been allowed to examine various documents prepared by Arthur Anderson LLP. These investigations have extinguished any possible concerns, in my mind, regarding reputed irregularities in the reported restructuring charges accrued during Q1 1998.
During a recent conference call with mrvc, I also inquired about the stability of the mrvc sales force. I was assured at that time that there has been no sales attrition of note.
Lastly, aside from cash raised by the recent debt offering, mrvc has maintained a fairly sizeable cash (and equivalent) basis and I am puzzled by rumors propagated here regarding a lack of cash. The recent negative cash flow situation is quite normal for a small and acquisitive company like mrvc, and you can expect it to reverse on a dime, and then reverse again upon further successful acquisitions.
I'm not at liberty to further discuss any plans regarding future purchases of mrvc by our fund, however, I will note that we view MRVC as an exceptional long-term investment and have put it on our internal research list.
As a professional I won't have much time to spend on this medium, however, I'd like to point out the danger both of investing based on rumors - and also the dangers of ignoring rumors, since they often either have a basis in fact, or are the product of a determined but not entirely honest investor or group. I see the latter case in mrvc.
Oh, expect new and positive coverage on mrvc within the next two weeks.
Mr. Green |
