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Black Diamond, Inc. Message Board

edwardnessario1 4 posts  |  Last Activity: Dec 23, 2014 5:48 PM Member since: Dec 4, 2006
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  • Sheesh...

    IMO

  • Reply to

    Fire the CFO

    by californiaharry Nov 19, 2014 11:34 AM
    edwardnessario1 edwardnessario1 Dec 22, 2014 11:06 PM Flag

    Young Grooving Bonerbee, I provided all the analysis and commentary you mentioned during our previous conversations. Back then I also said that if it's not a total house of cards, based on earnings, CRRS should be trading at no more than $1.15. You called me crazy, insulted me, and laughed [proverbially] because CRRS was trading at 3x that amount at the time. I saw CRRS hit $0.84 yesterday (so I win obviously).

    But my point is not to "win," Bonerbee...I could be condescending and compare mental sparring with you to sparring with my pre-adolescent children but that would only serve to RE-reinforce my point; that being right in an argument with a unsophisticated trader on a stock chat is as unimportant as being right in an argument with an angry five year old. Back to the middle and around again?

    Further, I don't know you personally and I get no pleasure as less careful investors lose money on these situations. It can be frustrating/aggravating to watch until I have to chime in (see my most recent post) but I never pretended that any of the information in that post was a "breakthrough." To slowly handhold you through what I thought should've been obvious, I said literally the exact opposite:

    "I would've thought that at some point SOMEONE on this message board would actually open a 10K or 10Q and actually LOOK at the numbers." This doesn't even approach innuendo...so are we clear big guy?

    Anyway, to your point about being a con-artist, read my post from the XWES chat at your convenience, where I expound on all of the positives of that company. XWES was just bought out for a significant premium to its recent levels AND that bullish, positive message from me in late March 2014.

    Net/net, I'd be mad if I were you too! This stock has lost you a TON of money...since we began discussing it, the market has gone up +20% and this stock has gone down -70%. That's 90 points of negative alpha.

    And, BTW, I'm not short CRRS...No Borrow ;P

    IMO

  • Reply to

    Fire the CFO

    by californiaharry Nov 19, 2014 11:34 AM
    edwardnessario1 edwardnessario1 Dec 22, 2014 7:03 AM Flag

    I would've thought that at some point SOMEONE on this message board would actually open a 10K or 10Q and actually LOOK at the numbers. This entire situation has nothing to do with the CFO...rather, CRRS' business model is severely flawed. It pays almost all revenue in the form of COGS, SG&A, and interest to its largest shareholder, TSE. What's more, CRRS' CEO works for TSE and the two cos are located in the same building. This is round-trip revenue to TSE and CRRS/Shareholders are left with an inflated "revenue" line and virtually nothing else of value. What do I mean? In the most recently reported quarter (Sep 2014), here are CRRS' economics:

    Revenue: $260m
    Cost of revenue paid to TSE: $227m
    SG&A paid to TSE: $13m
    Interest paid to TSE: $1m
    Total paid to TSE: $242m
    % of revenue paid to TSE: 93%

    AND, this is before CRRS pays its own execs and factoring interest totaling another $11m. So what's left for shareholders? Net income is $2m on revenue of $260m, or 0.7%. Annualize this $2m ($2 * 4 = $8) and at a $5 stock price as referenced by bigideaportugal, CRRS would be trading for 100x earnings. How do I get there?

    Shares: 162m
    Price: $5
    Market Cap = $810m
    Net income = $8m
    Price/Earnings = 100x

    As it is, CRRS trades for 18x earnings. Why should it trade for ANY more? If CRRS' margins compressed by just half a percent, over 70% of its net income would be wiped out. This is clearly a joke with so many red and yellow flags that only the very LEAST sophisticated market participants would be fooled by. IMHO

  • Reply to

    Fire the CFO

    by californiaharry Nov 19, 2014 11:34 AM
    edwardnessario1 edwardnessario1 Dec 23, 2014 5:48 PM Flag

    I'm not sure why you believe you belong on this chat more than me Bonerbee. Rather than having your underpants wedge further into that narrow opening near your back pocket each time someone brings the truth why don't you please tell me what you believe this stock is worth, support that assertion with one (if we're lucky two) datapoints, and I'll spend a reasonable amount of time walking you through my logic with links, comps, references, numbers, etc. The entire board will benefit BUT...I need a baseline here from you. What's the business worth and why?

BDE
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