Friday, March 20, 2009

Technology Solutions - Update

On March 20th Hedonic Capital, LLC and TowerView, LLC reported initial acquistions of the Company's stock of 8.7% and 5.1%, respectively. Hedonic Capital, LLC appears to be a small hedge fund based out of Conneticut. The fund is managed by David Lu, who also runs another fund entitled Hedgehog, LLC. TowerView, LLC appears to be an investment house based in New York. My assumption is that both funds are relatively small (perhaps single man investment houses) since I was unable to find any significant information related to either of them. Nonetheless, I view both acquistions as positive given that they were most likely mode shortly after the filing of the preliminary proxy materials.
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3 comments:

  1. Value_CatalystJune 3, 2009 at 9:18 AM

    Hi, very interesting blog and ideas that you are reviewing. Could you give some general details about your background? Thanks.

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  2. ArbitrageurJune 8, 2009 at 8:10 AM

    Value_Catalyst,

    Thanks for the comment! I'm glad you find the investment ideas interesting. In terms of my background, I am a recent graduate from the Florida State University. I just recently graduated this May valedictorian with a double major in Accounting and Finance. While I attended Florida State I was also one of several students who managed Florida State's $1.1M student run investment fund, where I specialized in risk arbitrage, valuation, and deep value investing. I also had the chance to have lunch with Warren Buffett in Omaha about a year ago (he selected our school among others to come hang out in Omaha and tour some of Berkshires loca businesses such as Borschiems and Nebraska Furniture Mart). Currently, I am living in South Florida, and I am working for an accounting firm in Palm Beach Gardens as a business valuation associate. I also provide investment advice to some of our clients. Within the next year I should be receiving my CPA license (that is, once I finally finish taking the exams) and am currently studying for the Series 7 and my CFA. I also am in the process of piecing together a small investment fund that I would like to launch in the next 3-5 years. My investment philosophy is largely influenced by Benjamin Graham and Warren Buffett. I believe in performing diligent and comprehensive fundamental research and purchasing stocks that trade significantly below a fair assessment of intrinsic value, where intrinsic value is typically defined as the net present value of the firms future expected cash flows (although other appraisal methods are often appropriate such as the cost of market approach). All of the arbitrage recommendations on this page are investment ideas that I have discovered (and most likely purchased). Like any buy-and-hold investment I would ever make, these arbitrage ideas are based entirely upon my own comprehensive analysis of the definitive proxy and other related materials. Again, I prefer to invest in stocks that I know trade below a pre-existing fair value.

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  3. Value_CatalystJune 8, 2009 at 9:21 AM

    Keep up the great work. You are way ahead of the game by looking in these pockets...

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