This was a big day for stocks ahead of the Fed meeting. I am still cautious and still own a bunch of boring utilities and treasuries; but I also enjoyed a welcomed boon today in the form of IFON. I own a lot of stock and have been down on this name for about 6 months. It perplexed me how such a small, well run, company could be so hated by the degenerates who trade stock. After all, they are growing upwards of 25% per annum, profitable for the past 5 quarters, $2 mill + in the bank, and have carved out a nice niche amongst the indigenous folk in South and Central America.
Very simply, with just 10 million shares in the float, I think you should grab it (extra Bud Fox).
I am now up on the stock and will see to it that I enjoy the upside twice as much as I lamented the downside.
To sum things up: there is a reason why I am bearish and haven’t shorted any stocks. Today was a perfect example to support my decision to be long utilities instead of TZA. Central banks around the world are hell bent on higher equity prices and it’s hard to fight that sort of firing power. Nevertheless, it’s also hard to justify how WDAY, FEYE and SPLK could be good buys at 20-31x sales. It would seem to me, this market is best suited for the rabbit skinners and beer swillers, than old school valuation guys.
Lucky for me, I fall in neither camp.
NOTE: For those of you who made some coin, get your asses down to Vegas to celebrate with the crew. We have just 15 spots left for the early bird special. After that, prices are going up.
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BAWSE you buy more IFON today?
I own more than a million shares. I have no need for more stock.
Caught in Chicago traffic jam for 4.5 hr drive back to Michigan … Still have huge boner though. $IFON
What part of Michigan?
at that level you have a stake in the company….where are your 3 board seats?
No need for that. It’s chump change.
Forgive my ignorance, but if you own approximately 10% of the stock, would that not require a SEC filing?
*an
It would not because the shares aren’t in block form.
Meaning: it is owned by many investors not just me
bo$$
you still need 13-D – ill ferret out yourNJ brokerage on bloomberg filings, then pester you to buy me drinks in Vegas
Ah, thanks for the clarification.
If Fly really owns 1m shares, then that’s equivalent to 6.9% of shares outstanding (14.4m shares out, 10.1m float). Technically Fly would only have to file if he owned more than 10% of the shares out, or if one of his accounts that he has discretion over controls more than 5% of the shares. Assuming that Fly doesnt pass the above tests, then he would have no need to file a 13d.
Institutional investors which have more than $100m in assets (including RIAs or private advisors) or “large traders” (trades 2m shares, or $20m of stock a day…or 20m shares, $200m in a month) have to file 13f’s, which are 45 days delayed and would only catch the IFON shares if Fly theoretically held them through the quarter end.
Happy hunting!
(PS you wont find anything on Bloomberg, as the largest holder is the CEO who owns 4.2m shares…then Bogle who owns 203k, Vanguard at 187k, and CalPERS at 108k)
gekko
I’m showing p/s for WDAY/FEYE/SPLK of 21, 11, 15 based on 2014 estimates. WDAY seems egregious. FEYE not horrible but they’re not anywhere near earning a profit.
I prefer YELP / ZU / LNKD over all of these.
Regarding Vegas trip…$1000 for the MGM hosted get together. Any details to share on what’s in store…appropriate to bring significant other?
Have you ever heard the phrase, “what happens in Vegas, stays in Vegas?”
If you bring your significant other, the phrase changes to, “nothing happens in Vegas.”
Bring the wife it’s $2000.
Re Vegas:
Fully catered cocktail party at premier suite, open bar. Get to mingle with top hatted gents and discuss world domination over glasses of scotch.
We have 10 spots left for VIP. Capacity is limited.
hard to justify how WDAY, FEYE and SPLK could be good buys
WDAY, FEYE, SPLK are 3 of opt. add’s favorites,
What are your favorite buys?
Do you have a target on IFON? Thanks – the patience finally paid off!!
IFON
Float: 10.15M
Volume: 4,172,375
Really???
Tomorrow you can use:https://www.youtube.com/watch?v=t4kkzsRJObE
TECH N9NE…only rapper that gives me goosebumps
Hey Fly thanks for the tip on IFON. I’ve been buying since early August. Seriously man, you just helped my son fund another year of private college. I’ll be signing up to your group today.