tag:blogger.com,1999:blog-5011732.post7381112733139249577..comments2023-06-07T12:24:40.914-04:00Comments on CHEAP STOCKS: Below Net Current Asset Value, Real Estate, and other Value Strategies: Winding Down The Cheap Stocks 21 Net Net Index; Outperforms Russell Microcap by 1371 bps, S&P 500 by 2537 bpsJonathan Heller, CFA, Editorhttp://www.blogger.com/profile/04330933364296303215noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-5011732.post-31934060300045946832010-03-08T07:46:45.742-05:002010-03-08T07:46:45.742-05:00Buying net/nets is sometimes buying ugly. In CRC&...Buying net/nets is sometimes buying ugly. In CRC's case, you are absolutely right about the business. There are some assets here though, as company still owns 1 million square feet of warehouse space, plus land in MS. I took a position under $1, sold half when the stock rose nicely, and am still holding half. The question about CRC, is what are the assets worth? I believed they were worth well more than $1 per share. Never had any illusions that business would turn around significantly, but if it does, that's a plus. This is a classic case of a cigar butt that I believe has a few more puffs. We'll see.Jonathan Heller, CFA, Editorhttps://www.blogger.com/profile/04330933364296303215noreply@blogger.comtag:blogger.com,1999:blog-5011732.post-85860150058095208962010-03-07T00:06:29.961-05:002010-03-07T00:06:29.961-05:00surprised to see you own chromcraft. Why if you do...surprised to see you own chromcraft. Why if you don't mind me asking?<br /><br />Rev's have been declining since 03'<br />02-07 the consumer was doing well and furniture was doing well, but this company did not grow.<br /><br />At present Furniture ind as big problems, there are a lot of issues with importing and cost of importering going up near 50% lately. Some manufatcuers are coming back to US which is expensive to re tool.<br /><br />The last years this company should not have been making a loss 06 & 07 they should have made a profit still the could'nt. Furniture wholesale is very competative with high costs<br /><br />08 FCF was the the biggest loss in the last 10years<br /><br />Assets to lias. look good, but the assets are mostly made up of inventory and recies. With such pressure on their customers recieves need marking down some what, inventory will also be sold at discount in some cases. 3 mil in cash agaisnt 7.5 mil in current lias, not good. The costs of doing business in furniture will not change for them and their customers will require ever decreasing prices in the current enviro. One could say the consumer is back (I would not) but this company's last profit was in 05, it should have been making money in 06,07 and it could not. This industry is very competative and their product mix is not exciting or far reaching enough to capture new customers,plus he consumer will not be back quick enough for this stock to turn around.Anonymousnoreply@blogger.com