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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (62795)	11/2/2019 4:17:35 AM
From: Nya_Quy	2 Recommendations Recommended By E_K_S The_Commodore Read Replies (2) \| Respond to of 78462

GME and TLRD. I've no interest A couple months ago I bought some shares in the former for approximately EV/FCF = 5x or $3.80/share. Plenty of cash so almost no net debt and at a cyclical low. It has "$238 mln repurchase capacity remaining under the share repurchase program" while having a market cap of about $530 mln (90 mln shares outstanding after a prior $62 mln buyback round in July 2019). Peak cash flow is expected after the new generation of consoles come about in Q4 of 2020 which is amplified by planned cost-cutting and closure of under-performing stores. However, assuming that at that peak that cash flows will increase to merely the average over the mediocre period '16-'19 AND that no share buyback will be happening, its commons should be worth around $15, so there is a margin of safety here. Around Q1 or Q2 of 2021: "EXIT G(A)ME". Nya

To: Paul Senior who wrote (62795)	11/4/2019 10:34:39 AM
From: Wallace Rivers	Respond to of 78462

This is not going to excite anybody, but here goes, anyway. I'm thinking of getting back into the floating rate sector through closed ends. I'm looking at EFR FRA VVR. I don't know how much lower interest rates can go, I think we're pretty close to the last cut (but I've been wrong many times before). These funds provide some cushion in a rising rate environment, are relatively short duration senior loans. They typically lag any interest rate moves, and "reset" about 6 months out. Any thoughts from those with, or interested in, this asset class?