Dell: Tons of cash, tons of cash flow

March 21, 2011

Dell, although not a company that fires the imagination, has a market cap of 28 billion, of which 12.5 billion consists of cash and investments that the company does not seem to particularly need. Dell’s free cash flow, not counting investment income, came to 2.86 billion last year, representing a yield of 18.5%. Dell will […]


Moody’s downgrades River Rock Entertainment Authority bonds: Too soon to be Concerned

March 18, 2011

Several of my readers have written me requesting my opinion on the recent downgrade of the River Rock Entertainment Authority casino bonds that fall due November of this year. The effect of this downgrade has pushed the price of the bonds from the 94 range to the 88 range based on recent prices. I found […]


Mac-Gray (TUC) – Cheap stocks live in the strangest places

March 10, 2011

As I generally adopt a bottom-up investing policy, and go into investing without any preconceived notion of what sector my stocks are going to be in. As a result, I am often surprised at the odd niches where attractive stocks hide. However, Mac-Gray Inc. (TUC) is one of the more unusual ones. They operate laundry […]


United Online (UNTD): Cash flows stabilizing at a good price

March 7, 2011

I have discussed United Online several times on this site, and noted that it has apparently attractive dividends and free cash flows, but that the loss of a post-transaction marketing program has affected their free cash flows in such a way that a prudent investor should wait and see how they regain their traction. As […]