Short for Net Tangible Asset Value. Ideally, we love to buy stocks selling below net tangible asset value.
Shares of a company that were spun out of a parent company. Shareholders in the parent company get so many shares in the new independent company for every share of the parent they own. A good source of winning investment ideas.
This is a company that has undergone massive changes in financial structure resulting in a company with a lot of debt. Leveraged recaps can provide option-like returns, though recaps have no expiration date.
Companies on the mend. Successful turnarounds are huge winners for shareholders.
Long-term Equity Anticipation Securities. Basically, these are long-term options with expiration dates at least one year out.
Stock market capitalization plus debt less cash. Essentially, this is the theoretical value of the entire company (i.e., what you would have to pay to buy the whole thing). Covers a wide menu of off-beat ideas, including spinoffs, leveraged recaps, turnarounds, LEAPS and more. It also includes small, obscure and illiquid securities.
Stocks in well-capitalized companies suitable for long-term investment. These are positions I intend to hold for the long-term (i.e, at least one year)
Stocks in more speculative markets and/or with more speculative financial structures. These selections pose greater risk than long-term speculations.
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