Member Info for jollyspeculator

if ST is seriously tipping from headline numbers, then he is in bother...camk, nbu come to mind as companies that look great at headline level lol

unlikely

typo lol?

yep...but where? ...the accounts make for interesting reading...why did they hold most of their cash @ fye 14 in banks / counterparties without the highest ratings? why did they not move all their cash to hsbc/citi/jpm chase etc?

?

to be precise lol

13.36: 3m @25p

applying 75% discount to non A rated cash and receivables (and 50% to other current assets) takes perhaps c euro40-50m off net net net current asset (dyor/don't rely on these calcs)..so perhaps net net net of c euro50-70m or £35-50m @ £/euro c1.35-1.4 ...handy down here but some way off a net net net if you go with anything like those figures/perspectives

have you been stopped out?

@25p ...so let's see if that's the immediate overhang cleared

getting vicious

back to 26.75

yep.but fairly disillusioned with gbo/kostis...down to just 14k free carry now...and that I'll almost certanly sell in any bounce ...may buy for punt at truly mad price.. or if there is an exceptionally good rns esp visibility on excellent acquisitions or junking the junk

a sharper bounce if there were any conviction? ....the cash support here is perhaps less than solid given the credit profile ...gbo has always been all or nothing imv..and the junk bond issue intensifies that sharply

DEFINITION of 'Free Cash Flow - FCF' A measure of financial performance calculated as operating cash flow minus capital expenditures. Free cash flow (FCF) represents the cash that a company is able to generate after laying out the money required to maintain or expand its asset base. Free cash flow is important because it allows a company to pursue opportunities that enhance shareholder value. Without cash, it's tough to develop new products, make acquisitions, pay dividends and reduce debt. FCF is calculated as:EBIT(1-Tax Rate) + Depreciation & Amortization - Change in Net Working Capital - Capital ExpenditureIt can also be calculated by taking operating cash flow and subtracting capital expenditures. Read more: Free Cash Flow (FCF) Definition | Investopedia http://www.investopedia.com/terms/f/freecashflow.asp#ixzz3lnbqLMWP Follow us: Investopedia on Facebook

if you really belief what you post, perhaps you need to read a simple 101 textbook on investing

enjoy the rest...no one knows the bottom of course....without the junk bond, this might be close...with the junk bond, ??? ...and for all those confused, the junk bond is an enormous gamble by kostis imv...why is debt appropriate when fcf is so flaky? That is what baffles me

imv...yep...v strongly...but from where?

maximinimalism is my non dogmatic faith...sub 20 will be do nicely

things change: ...seagull, doesn't the junk bond change focus even more intensely from rel secure balance sheet to flaky fcf? ...rw, 2 hours is a long time on AIM