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Star Manager's Case Study of a Great Business vs. a Net-Net

November 25, 2013 | About:

About the author:

John Huber
I am the Portfolio Manager at Saber Capital Management, LLC. Saber manages an investment partnership as well as separately managed accounts for clients interested in a focused value investing strategy. My investment style has been most influenced by Ben Graham, Walter Schloss, Warren Buffett, and Joel Greenblatt. I am also the author of www.BaseHitInvesting.com, a value investing blog.

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Rating: 4.2/5 (5 votes)

Comments

poolgmac
Poolgmac - 11 months ago
So how can a company produce 8-9M in earnings tax free and be valued at 11m Market Cap Net of Cash? On top of this the co is wholly owned sub of parent NOVC that owns two other co valued by investment community at 0. CorvisaCloud is est 100% owned by NOVC and just closed Direct BUY one of the biggest operators of call centers in the household goods market. Almost like HomeGoods they help consumers do their house right. What secret sauce did Corvisa Cloud have. Adventtax founded by man who is COO of FISV and was CEO of HRBlock. A peer was just acquired by TSS for 1.4B aka NTSP. They serve a huge market comprised of 100M American that have no or an under banked relationship. Valued at 0. NOVC also owns a cash flow stream from investments in MBS portfolio. This cash flow has increased in 2013 YOY at over 5M. Value to this tax free cash flow 0. NOVC owns DTA that shield taxes (Capital Gains and Taxable Income) for years per Novation Companies home page Q&A. Insiders bought big time in at end of Q2. Mass Mutual their 100% owned sub Babson Capital own est 20M of 90M common shares. HOW can a company be so mispriced?

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