Cryptologic (CRYP) Falls Hard on Earnings Warning

Straight from the horse’s mouth: Cryptologic press release. I’ve been watching CRYP for a while now (and posted my thoughts over a year ago when the stock was around $24).  After the latest sell-off, the stock is at $10 and change.  As these things usually go, the stock is less risky now than it was [...]

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He Can’t Be Serious

Disclosure: I support Barack Obama for president. That said, McCain’s latest attack ad (you know, the one about Paris Hilton & Britney Spears) strains even my jaded sensibilities. Republican elites have long displayed complete disregard for the intelligence of the American electorate (and with good reason) but this argument is completely inane (as a follow-up, [...]

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Ensco (ESV) Q2 2008 Update

All results US$ unless otherwise noted: Through the 1st half of 2008, operating cash flow (OCF) came in at $412M, down 23% YoY.  Excluding the auction rate securities situation ($73.3M), OCF was still down 9% from 2007.  The company registered very large cash outlays for accrued taxes and other liabilities, which is reflected in the company’s improved [...]

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Gone Fishin’

Normally around this time of year, you hear lots of stories about how much of Wall Street is on vacation, junior staff manning the trading desks, etc.  This year, I haven’t heard much vacation talk.  Maybe folks learned a lesson from Jimmy Cayne, who was at a bridge tournament when Bear Stearns began its descent [...]

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ACAS: Re-examining My Position

As a value investor, I am used to buying stocks as they go down and averaging into a position. While I believe that markets are not totally efficient, they are fairly efficient and so when Mr. Market marks down 40% a position that I already believed to be heavily discounted, I do not subscribe to [...]

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Long-Awaited Commodities Correction Underway

I invest in equities instead of the commodity itself to gain leverage on the price and true to form, the commodity-related stocks are dropping further than the underlying commodity.  Some of these stocks are trading at levels below the time of triple-digit oil and double-digit nat. gas (actually that time was earlier this year). To [...]

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