Welcome to GuruFocus Investment Space.

Please Join Us to share your investment ideas with more than 100,000 GuruFocus users.

Join      Log in

rgosalia Message

rgosalia's Space » All messages
rgosaliamessage



  • waignein 2011-12-14 01:13
    Great piece on MasterCard - keep em coming!
  • rgosalia 2011-10-18 20:29
    rgarga,

    Would you mind posting the question on the page that has the article for the benefit of everyone reading it. I will think through your question until then

    Thanks
    Rishi
  • rgarga 2011-10-18 19:33
    Quick question on Nick. I see the net margins have increased though operating margins have not changed
    What are ur thoughts re the ability to continue same...

    Secondly if individuals continue to deleverage, would the car sales ability to grow lower now than in the past.
  • rgosalia 2011-06-26 13:14
    I am on vacation at the moment. I will be back in a week. I can definitely point you to some more resources when I am back.
  • jonmonsea 2011-06-26 11:10
    Jonmonsea,


    Thanks, Rishi. I would love to know more about finding out about thrift conversions. I am actually reading Margin of Safety now, and looked for the thrift conversion section. It seems like a smart place to play! Where does one get started?
    Thanks!
    Jon (My email is [email protected])


    If you are willing to look at big financials, why not look at the small ones? Many of the thrifts that have recently undergone conversion are very attractive too. They are trading at deep discount to their book value too. Besides, they have fewer moving parts and are easier to understand - they borrow at 2, lend at 3, and go home at 4.

    If you are not familiar with thrift conversions, I recommend you read Seth Klarman's Margin of Safety. He has has a few pages on his investments in thrift conversions in the early 90s.

    This was a very active area for value investors in the 90s after the real-estate bubble burst. Then, as other discovered it, it became difficult to find value. However, this time around, the situation is different. Thrifts are converting because the thrift regulator is changing to a more stricter one. Also, by becoming public, bank executives who have been at these thrifts for all their life get a chance to monetize their efforts. Unlike the Pandora IPO where insiders benefit at the cost of outsiders, during a thrift conversion, the IPO price is quite undervalued to the book value. So, even outsiders can benefit.

    Why would everyone not jump in? These banks are usually small - so institutions are not very interested especially because even the big banks are at discount and they can put a lot of money to work in the big financials. Good for us who have smaller capital to work with.

    I don't want to make recommendations - the daily volume on these banks is very low and I am still acquiring my position - but I would be happy to answer any general questions that you may have.

    - Rishi

    Thanks, Rishi. I would love to know more about finding out about thrift conversions. I am actually reading Margin of Safety now, and looked for the thrift conversion section. It seems like a smart place to play! Where does one get started?
    Thanks!
    Jon
  • jvelasco 2011-05-19 01:00
    Hi my friend, I think this might interest you

    http://www.dataroma.com/m/stock.php?sym=cvs
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)
FEEDBACK