Black Diamond Inc (BDE) is a reverse merger stock as two operating companies, Black Diamond Equipment and Gregory Backpacks, were aquired by a registered shell company Clarus Corp, that had previously sold its software operations. In a letter to shareholders from May 2010, chairman Warren B. Kanders states: After a long and thorough process of … Continue reading Profile: Black Diamond Inc.
In my opinion shares of Callaway Golf (ELY) are getting very close to the liquidation value of the shares. Here is a quick back-of-the-envelope attempt to kill the company using the statements of the 2010 annual report: According to this rough estimate, the per share liquidation value is in the region of $5 which would … Continue reading Profile: Callaway Golf (ELY)
Website: Adidas-group.com Factsheet: (link) Industry Profile: (link) Sportgamma.net articles on Adidas Back-of-the-Envelope Valuation Currently, the shares of Adidas AG. seem to be fairly valued. Using the takeover bid price of Timberland as the most recent real market multiple for a company in the sport apparel & footwear industry, we come at a fair value of … Continue reading Profile: Adidas Group AG.
This image is taken from an interesting presentation of Lagardere Unlimited, mother company of Sportfive, which is the biggest sports media right company in Europe and leading player in football media rights. The presentation can be downloaded here.
I while ago I posted a excerpt from Buffett in which he explains his idea of the prototype of a dream business (See´s Candy). You can read it here. The dream business has the following distinguising characteristics: See’s Candy has not a growth company as CAGR has only been about 2% but it has strong … Continue reading The Greek Organization of Football Prognostics (OPAP)