I think you are definitely onto something, despite there being no improvement in price sine you posted this. The aquistions appear on paper to be fantastic. Usually below net assest value and low earnings multiples.
The management are clearly aligned.
I think this is a turn around story and your analysis will be correct.
Thank you, I appreciate it. Yes, the market doesn't seem to care about Coral's execution for now. Who knows if and when that will change. I'm still in it and don't really think there is any reason to sell when they keep executing even if the price is going nowhere.
Fantastic write up! You never disappoint in your ability to expose undervalued gems! What brokerage account did you use to buy CRU?
I recently opened a Fidelity account to purchase some international stocks... but, it doesn't allow trading on CRU, even though it allows trades on other AIM equities.
Thank you! I’m in the US. I used Interactive Brokers to purchase the shares. It’s a bit of a hassle actually because IBKR routes the order to the AIM Exchange where it goes through an auction process. It takes time to get filled on the orders unfortunately. But I view that as part of the opportunity.
Fan mail: I love this idea in particular and your newsletter generally; I'm so -- so -- tired of macro... dudes just vaguely opining on "the market", the Fed, etc etc etc with no edge, nothing actionable, and no conceivable predictive value. I'm so eager to sidestep all of that and just focus on specific, out of the way opportunities where we can pick unfair fights because "the market" isn't paying any attention. So thanks for this.
Thank you, that means a lot! I agree. Most of us are stock pickers. Yes, it’s tough right now, but buying good businesses that grow EPS never goes out of style.
I see your last comments on the company are from last August. The price has come down a lot since then. Are you still in? I'd love to hear your quick updated thoughts
I haven't sold a share but this position is extremely immaterial to me. Things don't look great - they are projecting revenue 10% lower than last year, contraction in EBITDA margins, and they suspended an already announced dividend. Since this position is so small, I'm going to give the new CEO some time to see if he can turn this around.
I think you are definitely onto something, despite there being no improvement in price sine you posted this. The aquistions appear on paper to be fantastic. Usually below net assest value and low earnings multiples.
The management are clearly aligned.
I think this is a turn around story and your analysis will be correct.
Thank you, I appreciate it. Yes, the market doesn't seem to care about Coral's execution for now. Who knows if and when that will change. I'm still in it and don't really think there is any reason to sell when they keep executing even if the price is going nowhere.
Fantastic write up! You never disappoint in your ability to expose undervalued gems! What brokerage account did you use to buy CRU?
I recently opened a Fidelity account to purchase some international stocks... but, it doesn't allow trading on CRU, even though it allows trades on other AIM equities.
Thank you! I’m in the US. I used Interactive Brokers to purchase the shares. It’s a bit of a hassle actually because IBKR routes the order to the AIM Exchange where it goes through an auction process. It takes time to get filled on the orders unfortunately. But I view that as part of the opportunity.
Thanks! I’ll have to take a look at getting IBKR for more international options
Excellent work !!! Congratulations
Fan mail: I love this idea in particular and your newsletter generally; I'm so -- so -- tired of macro... dudes just vaguely opining on "the market", the Fed, etc etc etc with no edge, nothing actionable, and no conceivable predictive value. I'm so eager to sidestep all of that and just focus on specific, out of the way opportunities where we can pick unfair fights because "the market" isn't paying any attention. So thanks for this.
Thank you, that means a lot! I agree. Most of us are stock pickers. Yes, it’s tough right now, but buying good businesses that grow EPS never goes out of style.
I see your last comments on the company are from last August. The price has come down a lot since then. Are you still in? I'd love to hear your quick updated thoughts
I haven't sold a share but this position is extremely immaterial to me. Things don't look great - they are projecting revenue 10% lower than last year, contraction in EBITDA margins, and they suspended an already announced dividend. Since this position is so small, I'm going to give the new CEO some time to see if he can turn this around.