I remember when dirt dropped his initial Twitter threads on the ECIP program. As a “fingers and toes” real estate guy the obviousness of the hidden in plain site value struck me. I am thrilled that he since launched a paid substack
The headline is "Case Study: 3x Earnings, 20% of Net Cash, Repurchasing Stock". I assumed that the write-up is about a current stock that meets this criteria. However, the write-up was how CZBS was a great investment in 2022. To confirm, you are not claiming that CZBS is a great investment now; Correct?
Thanks for your comment. The article is a case study about the situation in 2022. I'm not opining on the merits of an investment today, though I presently own shares in CZBS. I may buy or sell at any future time.
Happy new year, Dirt. Very much appreciate the write-up. This is quite helpful on your research process and discovery of ideas. I'm curious, though, if you could opine, to what extent the ECIP money has benefited the earnings of CZBS. More precisely, if at all, to what extent has the bank been able to place any of these low cost equities into productive assets? I'm wondering how much of the stock's re-rating from 10-ish to 50-ish is due to the perceived value gain from ECIP (as opposed to its direct impact on earnings that's already in effect), and how much is simply due to earnings growth unrelated to the ECIP money, especially if that money has yet to be put into the bank's production use.
So good... You inspire me to go through stocks A-Z just to find a few that I like and can understand. Buffett is right, that is the way for dumb investors like me. Plus, all that drilling will help with pattern recognition down the line, so like Ted Weschler says, there is no loss, just lesson not yet monetized. Thanks again Dirt!
You should check out AYTU. $8MM EV on $60MM revenue and $10MM EBITDA. Been divesting non-core units; now focusing exclusively on their growing ADHD medication business. $300MM shelf offering is scaring investors, but management knows how cheap the shares are, don’t expect dilution in the future.
This is the post that made me subscribe. A no-brainer stock like this comes around very rarely and when it does it makes you question your sanity.
Written well too, made me laugh out loud a few times.
Appreciate the kind words Paul. Good luck to you.
I remember when dirt dropped his initial Twitter threads on the ECIP program. As a “fingers and toes” real estate guy the obviousness of the hidden in plain site value struck me. I am thrilled that he since launched a paid substack
The headline is "Case Study: 3x Earnings, 20% of Net Cash, Repurchasing Stock". I assumed that the write-up is about a current stock that meets this criteria. However, the write-up was how CZBS was a great investment in 2022. To confirm, you are not claiming that CZBS is a great investment now; Correct?
Thanks for your comment. The article is a case study about the situation in 2022. I'm not opining on the merits of an investment today, though I presently own shares in CZBS. I may buy or sell at any future time.
Happy new year, Dirt. Very much appreciate the write-up. This is quite helpful on your research process and discovery of ideas. I'm curious, though, if you could opine, to what extent the ECIP money has benefited the earnings of CZBS. More precisely, if at all, to what extent has the bank been able to place any of these low cost equities into productive assets? I'm wondering how much of the stock's re-rating from 10-ish to 50-ish is due to the perceived value gain from ECIP (as opposed to its direct impact on earnings that's already in effect), and how much is simply due to earnings growth unrelated to the ECIP money, especially if that money has yet to be put into the bank's production use.
So good... You inspire me to go through stocks A-Z just to find a few that I like and can understand. Buffett is right, that is the way for dumb investors like me. Plus, all that drilling will help with pattern recognition down the line, so like Ted Weschler says, there is no loss, just lesson not yet monetized. Thanks again Dirt!
Happy New Year, Dirt. Do you still consider LNF an undervalued stock?
You should check out AYTU. $8MM EV on $60MM revenue and $10MM EBITDA. Been divesting non-core units; now focusing exclusively on their growing ADHD medication business. $300MM shelf offering is scaring investors, but management knows how cheap the shares are, don’t expect dilution in the future.