Chroma Investing

Value Investing for beginning & small time investors and the value investing strategies of Graham & Klarman

Audiovox (VOXX) a Net Net – Buy

What is Audiovox? According to their latest 10Q it, “is a recognized leader in the marketing of automotive entertainment, vehicle security and remote start systems, consumer electronics products and consumer electronics accessories. The company is number one in mobile video and places in the top ten of almost every category that it sells.”

F Wallstreet Returns – Investing Links

One of my favorite investing blogs was F Wallstreet, until Joe Ponzio stopped blogging because his hedge fund was taking up too much of his time. Joe has returned with analysis of Breitburn, a natural gas and oil company that Ponzio thinks has been overly beaten up. Check it out and let me know what you think. He has a four page analysis that is interesting. I have no conviction about commodities, as they seem a speculator’s market to me. That is not a slight. I am just not very good at speculating about the future.

Intrinsic Value – Beginning Investing Terms

Intrinsic value may be the most important concept in value investing. It is the foundation of everything else. Value Investors all agree that you start with the intrinsic value of a company. Now, how you arrive at that value is a different proposition, there you will have a lot of disagreement.

What happens When the Price of your Stock Declines?

This is a question that many of us faced in 2008. It is certain we will face this issue as long was we continue to invest. The answer, in short, is it depends.

First, check to see if something material has changed in the company that would effect the intrinsic value of the company. If your calculation of intrinsic value is unchanged in relationship to the stock price, you should not sell. In fact, as the price drops you may consider adding to your position. Let’s look at Qiao Xing Telephone (XING) which I purchased back in December for $1.92/share.

T2 Partners – Another Hedge Fund Perspective

I know that Hedge Funds have taken a bad rap recently, but one I really respect is T2 Partners. It is run by Whitney Tilson and Glenn Tongue. I have referred to them before. In one of my early posts on Bearish Real Estate News, I discussed their presentation on the real estate market and their book, More Mortgage Meltdown: 6 Ways to Profit in these Bad Times, but more importantly they are the movers behind the Value Investing Congress, something I have discussed a few times.

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