ACCO Brands – An attractive investment once adjustments are made

July 14, 2013

Whenever I’m in a store it always strikes me that every product on sale there, even the small and unusual ones, are produced by some fairly large and serious corporations that employ thousands of people and do millions in business. One such company is ACCO Brands Corp., which makes office supplies, laminators, shredders, and notebooks […]


Don’t cut out the middleman: Tech Data

July 12, 2010

Tech Data (TECD) is a distributor of electronics in the US and European  areas. Its role is to sell a mix of primarily IT products from original  manufacturers and entities identified as “value-added resellers” and to  perform various related ancillary services, and it is one of the largest such distributors in the world. Approximately 30% […]


Another book value bargain: Coast Distribution Systems Inc. (CRV)

January 3, 2010

I have spoken highly in the past of a stock selling for less than its net working capital with the additional criterion that the firm be profitable. On top of the attractiveness of the stock recovering at least to its asset value, the net working capital level serves as a price floor, thus reducing the […]