Member Info for gdog

About the timing, it is, indeed time to list in the USA.

I wish we'd do it differently. The AIM is a joke. I wish we'd delist from the AIM and list on a market that has a degree of respectability. Of course the only person who gives a rat's behind about my wishes is me.

I've mentioned this before, and will do so again, hopefully for the last time:

blinkx tried to do an ADR through Citibank years ago. Basically the same thing we're trying to do now. It didn't work. I realize these are totally different companies and totally different times than a decade ago, but still, that's what I have to go on.

The point I am lamely trying to make is this: while I pray to Money this works, and works out fabulously, I won't be surprised if it's met with a bit of a yawn. But, regardless of our intro to the US markets in the manner we're apparently going, I am betting if we perform well, we'll be impossible to ignore for long.

We're getting a little love over here.

Dude is misinformed about PERI, but what the heck, it's all fine with me.

https://seekingalpha.com/article/4420982-tremor-international-fast-growing-profitable-cheap?mail_subject=tttpf-tremor-international-fast-growing-profitable-and-very-cheap&utm_campaign=rta-stock-article&utm_content=link-0&utm_medium=email&utm_source=seeking_alpha#comments

https://finance.yahoo.com/news/acuityads-announces-integration-amazon-publisher-123000751.html

I buy PERI on the Nasdaq. I don't know why one would have trouble doing this. Perhaps it's because they're dual listed? (Also in Tel Aviv)

Meant "KPDm" below.

Win,

While the current price point of AT.TO is better (obviously) than it was a month ago, I feel PERI is by far the safer of the two, and much cheaper on a fundamental basis.

They both have responsible management, but Acuity is pretty directly taking on TTD, and those guys (TTD) have a ton of dough to fight back if Acuity's new interface begins to gain a lot of traction.

MGNI still expensive, but that doesn't mean they can't grow into their current and even the highest valuations the market assigned them, almost 2X where it now sits.

RPDm, yes, PST. Rural Willamette Valley, Oregon.

As I was reading your post, I was nodding my head in agreement. (We don't dare talk politics; no need to destroy a nice chat.) Your below paragraph about mgt. is very important in my book, especially when looking at disruptive technologies. They've got to be nimble; they need to admit their mistakes and change course when necessary...they need to be Gretzky: to skate to where the puck is going.

"For me, as a complimentary method to the traditional yardstick of fundamental analysis, the role of management’s business analysis as a measurement parameter is used to evaluate the success of a company and how this influences critical business decisions. Strategy is a very obvious determinant both in the magnitude and consistency of a company’s future earnings and the way it responds to change."

Nice chatting with you as well, but it's still morning here. I am 8 hours behind the UK.

Yes, I am, or was, a classic fundamentals investor. A lot has changed with the speed of disruptive technologies. I ask my 27 year old nephew for the latest trends. A lot of metrics have changed, and that really began for me with Google then Amazon. When Amazon was at 200 I kept saying it was totally overvalued, which it was by any traditional measurements. I watched it for years, paying attention all the way. I finally started to buy in the mid-1,900s after a "bad" conference call, but by then I knew how to read what was going on with mgt. (it was a "bad" quarter only because they poured so much Money into growing the biz, they missed profit estimates). I kept buying, in separate 15 tranches, down to the mid-1,700s. This was in July-October 2019. I am now pretty happy with my totally 'overpriced' purchases (on a fundamentals basis) of Amazon, with an average cost of $1,861.64, even though I paid "way too much" on a classic fundamental basis only a few years ago.

That being the case, I actually got into this one, literally, 21 years ago, with Virage, which was bought by Autonomy, spun off as blinkx, etc...I've told that a few times here, so sorry if I am boring you. It was all about video over the internet for me, and, apparently, it still is, some 21 years later.

I do fairly deep dives into mgt, conference calls, quarterly and annual reports, sector developments, etc.

But I keep one thing in mind, always: Nobody knows what tomorrow may bring. Forecasts have a way of vaporizing when the competition has their say.

Hey KPDm,

Agreed. I am smiling at your comment about 'being trained in TA by exam': "Trained as a technical analyst by exam -habitual reviewing style."

I was trained predominantly in fundamentals, way back in the 1970s. Of course they taught technical analysis as well in biz school, and I well recall my professor having a bent towards fundamental analysis, but he would talk about investor sentiment, investor psychology, etc., IE technical analysis, for short term traders. This was before PCs. Seems to me a lot of it still applies today.

I do (kinda) use TA to buy...at least a tiny bit. But it's really all about the fundamentals to me.

KPDm,

If you're a long term holder, why care about technicals? All that should matter to "a LTH" are the fundamentals.

Tricky,

You cannot be serious.

If you are being serious, you are either very drunk, very stupid, or totally ignorant.

I do not think you are stupid, but if you are, there is no cure. If you are drunk, you need to sober up. If it's just ignorance of the facts, which I suspect it is, you need to educate yourself on the facts.

Other than the above comment, I don't have time to deal with stupid, ignorant, moronic posts like the one you posted below at 20:56hr

Hey Win, FYI:

In case you're interested, there's a press release from AcuityAds, out today, reporting on Q1 2021 Illumin progress. Before they rolled this out they were telling us they didn't expect any revenue from Illumin until the second half of 2021. They went into beta with 30 companies beginning in October, 2020 (if memory serves). The numbers are small, but they're doing better than projected.

Go to the website and check out today's press release.

I suppose I did state the obvious.

Oh well.

You know us Americans, we need to be hit over the head with humor, and, it appears, other things.

Eddie,

I think he made an attempt at pre-empting what he felt was inevitable.

Eddie,

Ha...I am not a gambling man, except in the real property and stock markets, which is more than enough for me. That being said, I do enjoy a nice beer now and then (nothing like when I was younger when it pretty much was a daily staple).

Since I can't lose on this bet (unless PERI goes down from current levels over the next year), I'd be happy to either buy you a beer, or have you buy me one. Or two. Or three.

Hey Eddid,

I also stated the fact that PERI have, over the past year, proven to be serial sandbaggers. They under promise and over deliver.

This makes the prediction biz for this one even more difficult.

I may not make public predictions of where I feel something is going, but that doesn't mean I do not have expectations. I can't count on my fingers, toes, or all the stars in the sky how many times my expectations haven't been met.

Hey Eddie,

Just for the heck of it, let's compare relative prices of PERI and TRMR in 6 months and a year. I've no idea which will move the most from current levels, regardless of the fact I feel PERI is cheaper relative to TRMR at today's prices.

It'll be fun to watch (it is fun to watch...I watch it pretty much all day every day the markets are open). The best part to me is if they both go up I'll win regardless of which goes up the most.

PERI closing price on 9 April $17.73 US
TRMR closing price on 9 April 700p.

GBP USD (I suppose this only matters to me) ca $1.37/GBP

Eddlie,

I thought I was very clear; I used 2020 stated numbers. My numbers were not projections about future values. My numbers were interpretations about relative values given stated numbers for 2020. (If PERI's numbers are X, as a relative comp at PERI's current price, TRMRs price would be Y.)

I am not in the prediction business: "only fools can predict the future".

I have said all along I feel TRMR is undervalued relative to most peers in the space.

I have said all along I feel PERI is undervalued relative to TRMR.

I have said all along I feel both PERI and TRMR are buys at these levels.

I believe they're both compelling, but PERI is, to me, more compelling at current levels.

I trust that clears up my perspective. Of course the market doesn't care one bit what I feel, think or believe. The market's going to do what the market's going to do...and nobody knows what tomorrow may bring.

BTW: the reason 'I've my fingers in several pies in this space' is due to the fact that I don't know what tomorrow may bring.

Oh, Win, to better answer your question: I feel AcuityAds is my riskiest investment in this sector. It is currently over-valued relative to PERI and TRMR, but it most certainly could grow into current valuations. It's all about Illumin.

'That's my opinion, feel free to ignore'.

Hey Win,

AcuityAds is an interesting one. David and Goliath story. They're a pure play DSP going after the same (growing) pie as TTD. The bet is they have a superior interface, which they call Illumin.

AcuityAds is my fourth largest holding in this sector, and I've enough there to keep me pretty interested.

For AT.TO it's all about Illumin. As we say when discussing AT.TO: "In Illumin we trust".

They've been talking pretty seriously about listing on the NASDAQ. This is getting interesting.

We have the same saying, but, of course, being Americans, we had to shorten it up: 'I have my fingers in several pies'.

Eddie, Milhous,

My numbers were provided by both companies most recent releases for 2020. I am done with this for now. If you've doubts, take a moment to double check my numbers, and please report back about where I messed up. I am not too proud to admit to being wrong.

I am pretty sure there are no zeros missing or misplaced decimal points.

There are numerous ways to compare companies in this space, but one must remember that they almost all do different things in the same space. Some do different things, part of which may not be in the same space.

For example, close to half PERI's revenues come from search. I view that as a backstop to price erosion. The margins are low, but the income is pretty steady and relatively sure, at least for the next four years (MSFT contract).

Not that it matters what I feel, but, I feel PERI and TRMR are both inexpensive relative to peers in their space, with PERI being the best value at current levels. I have been totally consistent with this for over a year now. Actually, for the past 18 months.

There are a number of other metrics one must take into consideration we doing comps of companies in the same space. As an American, the biggest one we look at is rate of growth. That can mean rate of growth of a particular area within which a company is invested, such as CTV. The competitive landscape, market share, margins, cash on hand, cash burn, management effectiveness, debt to equity, balance sheets and income statements, etc., all matter.

Oops, I thought the sales comp below looked low. TRMR is changing the way they report revenues, as stated in their recent release of fully audited 2020 numbers.

Subtracting CAC (customer acquisition costs) gives me, I believe, a better comp. This brings TRMR relative to PERI to 4.63 GBP.

Gross profit brings me to a similar valuation as above. I already posted that once before, but it appeared for a while, then disappeared.