Member Info for gdog

Radium,

TRMR's model makes too much sense to me. I hear the arguments from both sides of the single side platforms, but I have my doubts against them. Consolidation will take place in our sector...I feel that's an absolute.

As always, I've hedged my bets with MGNI, PUBM, CRTO on the sell side, TTD and ATY on the buy side, but, by far my largest holdings are in PERI then TRMR (and, of course, some GOOG).

Phil,

I hear much talk of a worldwide recession....from some of the talking heads on the biz channels. Some of that talk is from those that have "correctly" called 11 out of the last 2 recessions, so go figure. Then again, rampant inflation needs to be dealt with, which often causes pain.

I've no idea if we've a large slowdown later this year, next, whenever. But I am the same guy who didn't see the virus coming, so who am I to talk about a possible event months or a year or more down the road?

Then there are those that say our (USA) economy is strong, in spite of the fact we've the most business un-friendly, half wit, dementia addled, moron puppet as president of my country in history (a fact which nobody with more than half a brain will dispute). The USA is 30 trillion in debt...and they want to spend more ("Modern Monetary Policy"). Not to mention what's happening all around the world. This may get ugly. (Uglier?)

Phil,

Not sure if your post was meant for me, Radium, or posters in general.

As I say all too often, 'nobody knows what tomorrow may bring.

I'd be concerned about any comments the market perceives as negative, either for the short term, or worse, the long term. There are plenty of risks in all stocks, and we're not immune from that fact.

Radium,

It may go without saying, but I said it just the same.

I suppose Tricky would ascribe my comment to Americans' inefficient use of the written word.

Radium,

Emphasis on 'favorable outlook' (note proper spelling). Guidance is key. If all those stocks, and I own all mentioned, give us good numbers but disappoint on guidance, all bets are off.

Tricky,

Their newer printers are garbage. The old ones work great (circa 2000). The new garbage they make are all about selling their over-priced toner. Inexpensive krap printers to sell expensive krap toner.

Eagle,

I was a Lynch fan for over a decade. I first bought Autonomy when they bought Virage in the early 2000s. I made a tidy sum off of his con job on HP. Dude is a con man, at least that's what I believe. And I don't give a rip about HP...eff them, they were stupid enough to buy his line of BS.

He tried to shop Autonomy to Larry Ellison of Oracle. Ellison saw through him. HP fell for his line of BS.

I'll never forget the story he loved to tell about the broom closet with the "Private" sign on the door, and he'd tell prospective investors it was their data lab. What a con job.

(I believe) Dude is a crook. But I really don't give a sheeeet.

Baldy,

Sick Brit humor works for me. Note proper spelling of "humor", Tricky.

Coathanger,

How did you explain away those suspicious stains on those important documents?

Hey Ahb....worth a try, eh?

One legged girls need love too.

BTW: thanks for the chuckle.

Tricky,

When I was younger, I would screw anything cute with two legs.

Not a top priority these days...because I am grandpa to those I find attractive enough for righty-tighty. The only ones that will have me are lefty-loosey, and that doesn't work for me.

BTW, Rusty,

I was wrong about cancelled shares. I conflated cancelled with dormant. That's what I get for posting before I looked it up.

I imagine you guys know what the word "assume" means...when one "assumes", one makes an "ass out of u and me".

Hey Rusty,

It appears my "caveat" below may be irrelevant. I poked around a bit, back to June of 2019, and could find no instances of shares being cancelled.

Of course shares can be used as well as cash to transact a deal. I am now more ambivalent than opposed to buying back a few to use at a later date...not that anyone but me gives a rat's rear how I feel about the matter.

Hey Rusty,

Thanks.

After reading your post I had to look for myself. According to UK law, you are correct, with a caveat: As long as the shares are not cancelled. I don't know about Israeli law, and don't care enough to try to find out. Here's what I found with a couple minutes' (max) time taken:

"Advantages of holding treasury shares

There are several advantages of holding treasury shares, including:

being able to sell treasury shares to new investors without having to incur the costs or carryout the necessary procedures of a formal share allotment;
having the potential to restore the company’s distributable profits when the treasury shares are sold as the proceeds up to the original purchase cost are treated as distributable profits;
not needing the expense of running an employee benefit trust to meet employee share options where the company has sufficient treasury shares.
In addition the company does not have to complete all the formalities of cancelling the shares.

Selling treasury shares

Shares held in treasury can be sold or transferred at any time. Consideration must be received by the company for shares sold or transferred unless the transfer is in connection with an employee share scheme.

Where shares are sold or transferred out of treasury stamp duty is normally not payable on the sale. However, stamp duty would have been paid by the company when the shares were first bought back by it on the same basis as any other purchase of shares by a third party.

When treasury shares are sold or transferred the company must file form SH04 – Notify a sale or transfer of treasury shares – with Companies House within 28 days of the sale or transfer.

Cancelling treasury shares
The company can at anytime decide to cancel some or all of the treasury shares. This will reduce the company’s share capital by the nominal value of the shares cancelled.

When treasury shares are cancelled the company must file form SH05 – Notify a cancellation of treasury shares – with Companies House within 28 days of the cancellation. Where the company is a public limited company [link to plc blog] and section 663 of the Companies Act 2006 applies form SH07 should instead be filed at Companies House. As the company’s capital is changing as a result of the cancellation the forms SH05 and SH07 include a statement of capital showing the capital position after the share cancellation.

Yes, Tricky, I see where I was "inefficient" in my use of words in my below post to Rusty.

It is am American thing...still, I prefer our "improper" spelling of many words. Also an American thing.

Hey Rusty,

Nice to hear from you.

Seems to me, every time we buy back shares, they're cancelled. Of course this helps us due to concentration (opposite of dilution). Even if they don't cancel them, I'd rather they pay attention to running the biz, rather than speculating in the stock market.

I imagine we all realize this is an academic discussion. it' doesn't really matter what any of us wants, they're going to do what they're going to do. We're simply along for the ride.

It's what smart, opportunistic companies in a highly competitive sector do to grab market share. This is a monster space, there are a lot of really smart people chasing the same Dollars, and I want to be sure we get a lion's share.

it's often a lot cheaper, better and faster to buy rather than build. First mover advantage is huge, and we're still in early innings.

Buying back our stock, which we paid a fortune to issue only 7 months ago, is nothing more than financial engineering. If we put up the numbers, the share price will take care of itself.

A better use of cash very well may be picking up an accretive bolt on or two (to which Ofer alluded during the Needham Conference) at a discounted price.

BTW, at a value of 506p per share, the ADR units should be trading at $13.7414, given the current exchange rate.

The ADR units are currently bid $13.97 X ask $14.10.

The NASDAQ is down 2.11% atm.

Hey Mal,

No offence taken. None at all.

As a matter of fact, regardless of the fact that I am still angry about the obscene pay package and mgt. going woke with regard to censoring free speech, I took the opportunity provided me this morning (my time), to add another 661 ADR units in my tax free retirement accounts at $13.97. (The reason for the odd number is due to the fact that's all I had to invest, it is all I am legally able to contribute for 2022.)

I've now watched the Needham presentation three times, for both PERI and TRMR, twice for MGNI, comped the numbers between those three, plus PUBM, TTD, CRTO and ATY, and came to the conclusion that the best value of these was in TRMR, so I was very happy to see today's selloff, which I consider an opportunity.

If longs here feel as I do, and we are correct regarding our prospects on a fundamental basis, these moves down are totally meaningless. They are nothing but white noise, and they provide an opportunity to add more, or so I strongly believe.

Of course nobody knows what tomorrow may bring; we can all use a little luck as well as good fundamentals.

BTW: I did say "for the most part".