A Presentation to the Management of Oliver’s Real Foods
Last Friday I sent this presentation to Investor Relations at Oliver’s Real Foods with a request that it be brought to the attention of senior management. I wanted to give Oliver’s some advance warning and give them the opportunity to comment or correct me, if they chose. I did not receive a response from Oliver’s, …
10foot Scuttlebutt: May edition
Dear readers. As with previous months, here are some things I’ve seen or thought recently. The Magic Pudding business model In my recent look at the mineral sands sector, I came across a remarkable business, namely the Mineral Commodities Limited (ASX: MRC) Tormin Sands project. Every year the ocean washes up minerals like zircon, ilmenite (titanium …
EML Payments: A non-cash income story?
I recently looked at EML Payments Ltd (ASX: EML), a prepaid card provider. Shares are down around 30% LTM despite cracking growth in the volumes of $$ using the company’s payment systems. The short version: I think that EML has an aggressive revenue recognition policy, a license to write non-cash income, and the incentives to potentially encourage it. …
#12: Oliver’s Real Foods – The Repurchasening
I’ve re-purchased Oliver’s Real Foods (ASX: OLI) after my prior sale. The primary reason I sold is that I didn’t have confidence that there would be action on what I perceived to be the company’s problems. The then-CEO is a founder and major shareholder and I considered it unlikely that he would step aside, which …
Portfolio Review – May 2018
I recently (mostly) finished putting the final touches on the 10foot Google Sheets spreadsheet, which tracks my investments automatically, including cash holdings and relative to an index. Before I get into it, something occurred to me recently which I feel deserves an additional disclaimer. Although tracking my performance and my investment process is very important …
