Private Equity Stock Review, Monday, 08/24/2009.
Los Angeles, CA 73...82F Sunny.
Chicago, IL, 62..83F Sunny.
Port Jefferson, NY, 67...83 Cloudy.
1. Rodman & Renshaw (RODM) $3.00.
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Da Bears. Looked like a Super Bowl Champ last night.
1. Rodman & Renshaw (RODM) $3.00.
Boom and just like that, Rodman (RODM) becomes the Top performer on the
Private Equity Stock Review Watch List, up 203% !
And from the bottom of the pack no less, like a 35:1 long-shot horse which
comes from behind and slowly works itself up though the pack and then
pulls out ahead to a screaming crowd.
"Go Rodman, go Rodman, go Rodman......" Yeahhhhh.
Thanks guys. Since we picked it ourselves, guess we'll have a Tootie Pie
, going out to someone in management there. We've been doing so well
with the group -- we'd end up giving 6 pies to ourselves -- and since we'd
rather drink our calories and then eat them...
Marketwise, we can't begin to tell you how close (on a daily basis) we
are, to jumping off of this speeding train they call a rebounding market.
As a reminder, we have a "bear" site which we'll officially launch when we
are ready to compile and release a list of "actionable" ideas to profit in
a declining market.
Vicious Short Seller (bear site):
Private Equity Stock Review :
Rodman & Renshaw (RODM) $3.00 up 203%
Fortress Investment Group (FIG) $5.03, up 124%
The Blackstone Group (BX) $13.50 up 75%
GLG Partners (GLG) $4.24 up 71%
Och Ziff Capital (OZM) $10.58 up 69%
MVC Capital (MVC) $9.27 up 16%
We're up over $2 billion on a gross value basis for the group, but it's
difficult to accurately count, since many shares have been added (as in
secondaries) in recent months. Still not bad for a few months work.
Rodman & Renshaw Chart
(Remember this, if you want to get a good gauge on how much money Rodman
"may" be making in the future, look at EACH of their offerings and then
look at how many warrants (and at what price) they got in EACH of the
offerings and put them in spread sheet to calculate gain/loss to the stock
price, of the underwritten company.)
You can put this link below into an RSS reader, as a convenient way to
keep up to date to their recent completed offerings.
Of course we won't know when (if) they'll actually exercise and monetize
and there's always the chance the market goes back to 7000 and they do
neither...in which case you just wasted a lot to time playing with a
spread sheet, when you could have been out having fun in the last few days
of summer. Personally we'll choose the beach, but if any subscriber is so
ambitious, we'd love to publish your work -- if you're so inclined.
And not for nothing, Rodman offered to buy Cowen & Co., in December for
$7.00 per share (50% cash and 50% stock) or roughly $98,000,000. So let's
call it, $50 million in cash and $50 million in Rodman stock (or roughly
50 million Rodman shares it was near $1.00 when they made the offer).
So all things being the same (a ridiculous thought, but a thought
nonetheless) Cowen's shareholder's could have gotten $50 million in cash
and at today's prices $150 million (50 million x $3) in Rodman stock for a
total package worth $200 million !
sells for $6.26 (or unchanged)
As in whoops.
Going Concern Statements.
We would like to point out that the majority of companies listed on the
OTC Bulletin Board have factors which create an
uncertainty about the their ability to continue as a going concern. These
concerns are typically related to financing (or lack of), competitive
environments, lack of operating history and operating at loss levels which
is typical of most start-ups.
These statement can usually be found in their most recent 10Q filings and
typically you don't have to dig to far down past the financial tables. We
like to use http://www.pinksheets.com for quick and easy access to SEC
filings. We think it would be wise for most investors to assume that all
companies listed on the OTC Bulletin Board (and many on NASDAQ) have going
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