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Barnes & Noble, Inc. Message Board

  • holywallst holywallst Aug 19, 2011 12:37 PM Flag

    Still much more downside left.

    Dont make the mistake of thinking it has bottomed just because it has fallen so much

    You buy here at this level, and next week when your acct is red by another 9-12%, you will say, oh man I should have waited for this to bottom out

    NOT a buy. still all my SELL signals are flashing and I have pretty expensive trading filters

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • can i ask what software you use been looking into what i want to upgrade to

    • You're exactly right. It should retest the lows in the $8s.

      Keep in mind that the first $15.81 million of any future profits belong to Malone each and every year. If you're wondering why I am discounting $15.81 million dollars from the stockholders, here's why: $204 million x 7.75% preferred dividend = $15.81 million.

      It's not your money, it's Malone's.

      • 1 Reply to jonathan.loewer
      • Since the interest is compounded daily, I get $16.44m/year.

        From BKS's point of view, this is really nothing more than a high interest loan that needs to be repaid in 10 years. BKS must be really hard up for cash to be taking on a loan like this. I expect the next earnings report due shortly will be really ugly - higher losses than ever and sales of books (paper+digital) declining faster than ever.

        For Liberty, they get 8%/year on the invested amount. If BKS is somehow is successful, they can convert what is essentially a loan into common to capture any upside. If BKS is unsuccessful, they can take over the company for just the $204m investment (while collecting $16.4m/year). Much cheaper than buying the whole company for $1B+.

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