נראה כאילו כל חודש האיש מפתיע מחדש. פשוט לא יאמן. נכון, הרווח מהפרוייקטים האלה לא יהיה גדול – אני מעריך שמפרוייקט הסלולר הרווח הנקי בעוד שנה יהיה באיזור מיליון שקל, ובשנה שלאחר מכן עד שני מיליון שקל, אולי. זניח. אבל זה יוצר תעבורה בסניף. גם התקבולים מהביטוח לא יהיו גבוהים וגם התקבולים מהמיזם החדש –… Read More »
Exactly as I predicted months ago over the pages of this blog (על שופרסל יהיה לקצץ בבשר החי) and a few years ago (before this site was born) among my friends – the decline has started. Another prediction in this matter – this is only the beginning. With Dankner in trouble strengthening the ongoing milking of Sufersal for… Read More »
Happy new year everybody ! Yes, it has been long since I wrote. During this time, a lot has happened. These lines are written from a small neighborhood in the city of Montevideo in Uruguay. I have been in Uruguay for the last month (since December 7th). It was a long and joyful visit, so nice… Read More »
ETM released its third quarter results yesterday. The results were predictable and much as I expected them to be. After the release, the company held the regular earnings conference call. ETM's earnings conference calls are in listening mode only, for some odd reason, and questions for the call are sent by email. I've sent questions as… Read More »
To my english readers – this post is about 2 israeli companies, Sufersal and Rami Levy, feel free to use google translator to translate. בטח כולכם שמעתם שנוחי מוכר את השליטה בשופרסל לברונפמנים. אני וחברי התחבטנו בשאלה האם זה טוב או רע לאחזקה שלנו – רמי לוי. רמי לוי היא האחזקה הגדולה ביותר בתיק שלי. שופרסל… Read More »
Hello all and Hag Sameah! I made a "few" improvements to my writeup about ETM and posted it (after some long delays) at seeking alpha. It turns out that S.A editorial team became MUCH more strict since I last wrote there and it took me a lot of work to get it published, almost… Read More »
I thought about ETM lately and one thing that disturbed me was the recent purchase amounting to 9 million dollars that occurred in the first quarter this year. Considering the "stellar" track record this company has in purchases and considering it had not purchased a single station for almost 3.5 years, I thought I should put… Read More »
Hello Everybody, I would like to send you some good (predictable) news regarding the American housing market. The last report from CoreLogic shows a continued decline in the shadow home inventory (inventory held by banks mostly after foreclosures). As you know already, a recovery of the american economy and especially the labor market, is based largely… Read More »
A few weeks ago I've mentioned how dirt cheap ETM was. Back then it was around 6.3$ per share, since then, price has continue its march downward to 4.8$ recently. Your loyal writer bought it all the way down, at 6.36$, 5.6$, 4.97$ and 5.1$. My average price is around 5.8$, relatively "high", since I… Read More »
14 km in a straight line from the city center, in Metro line 2 stop called Guanglan, there are some apartment houses and what looks like an abandoned part of the hightech park Zhangjiang, where I worked. I will present some pictures here that may help to prove my point about RE bubble, but this may… Read More »