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Tiffany & Co. Message Board

  • investors_liberation_movement investors_liberation_movement Jun 4, 2011 11:18 AM Flag

    Present Value of TIF to AMJC

    At 73+, TIF is now priced at
    a P/E of over 20 on forward
    (i.e. projected 2011) earnings
    with a diluted Book Value
    per share of 17.61.

    An earnings-yield less than 5%
    may seem reasonable to some
    institutional holders given
    extremely low interest-rates
    in the U.S.

    The increase in its dividend and
    share-buybacks far above Book Value
    despite 687 million debt show that
    TIF's Board is mindful of the cash
    thirst of its largest holders.

    In one week, the ninth anniversary of
    the infamous SEC filing announcing the
    AMJC scheme will be marked by its
    individual holders.
    None of them are likely to consider
    a price for TIF above $40 to be fair.

    The obvious conclusion is that AMJC
    cannot do prudent acquisitions in the
    current situation. Thus its holders
    must demand cash for their shares.

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    • OK.......I give up. What is AMJC and why would it have any interest in TIF?

      • 3 Replies to stuckinamobile
      • American Jewelry was a small profitable company that
        issued debt convertible to stock at the market-price
        (so-called toxic "death-spiral" because the holders
        of the debt can and did naked short-sell the common
        and cover through conversion).
        The stock with the original symbol AMJY underwent
        a reverse-split after massive dilution and a Press Release
        stating that the new AMJC had indemnity from claims by
        WHB and 2 daughters each bought just under 5% stakes
        and noticed unusual trading-volume. After complaining
        to the SEC to no avail, they bought all of the outstanding
        and posted disclosure on the Message Board for JADE.
        This was at a time following the collapse of Enron, Worldcom,
        and other scandals which were rattling the financial markets.
        Manipulators apparently decided to use AMJC to cement Wall
        Street professionals and their friends in media, academia, etc.
        into a scheme to bolster "confidence."
        Then came the 9/11 attack. More than a billion AMJC shares
        were distributed at prices of less than 1 cent per share.
        Following the reverse-split, AMJC had a Book Value of about
        $7 and a trailing e.p.s. over $1 as well as a promising joint-venture
        with a Chinese manufacturer of jewelry-boxes.
        Trading was finally halted after another reverse-split and
        symbol-change to MSMJ shortly after an SEC filing on June 11, 2002
        which implied support by the U.S. government.
        WHB and daughters filed a lawsuit in a New York federal court
        within one year which has remained dormant ever since.

      • It's the "Mother" of all manipulation schemes.
        I'm surprised that you apparently don't hold any, stuck!

        The theoretical value of each share is enormous by now
        making AMJC worth more than the "true value" of all
        public companies in the luxury-goods industry.

      • "OK.......I give up. What is AMJC and why would it have any interest in TIF?"

        Bravo.Good question.
        Some of them live in their own little worlds. Next we'll be badgered with double shoulders, teacups and truncated crackling snark finder indicators.

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