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Eric Schleien discusses value investing, rational investment analysis, and vital mental models.
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Thursday Jun 25, 2020
Thursday Jun 25, 2020
OTC Stock Manual
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Summary
Calloway's Nursery was first discussed in Episode #22.
In this episode of The Intelligent Investing Podcast, Eric Schleien sits down with Jan Svenda to discuss Calloway's Nursery, Inc. (CLWY).
This may possibly be the least obscure stock that Jan has ever discussed on the show.
The company runs a small chain of garden centers in Texas. There is an activist investor in the management who has been a good steward of capital. The original pitch was that the company was trading below liquidation while business was solid. New management came in and realized value. There’s been about an extra 10% return with special dividends. The company currently spits out $3,000,000 a year in free cash flow which is backed up by real estate and a healthy balance sheet. The company is opening up new stores. There’s also the possibility of future improvements in free cash flow. The company is currently valued at about a 10% free cash flow yield. The coronavirus should not hurt them too badly.
About Jan Svenda
Jan is a “deep value” investor/analyst mainly focused on the US small-cap and micro-cap universe. He started out with a long-only bias (stocks trading close to NCAV etc.) which led to his interest in the OTC world.
Jan now covers this space through his exclusive newsletter service where he shares his latest long ideas and a watchlist of OTC stocks which should help subscribers generate material returns and allow them to “monitor” the OTC space more efficiently.
The service also acts as a community of engaged members who share the same focus. On top of this, he is interested in short-focused research especially in the thesis revolving around accountancy or earnings manipulation.
From time to time he also contributes to Safety in Value’s marketplace ‘Microcap Review’.
STAYING IN TOUCH WITH JAN SVENDA
To learn more about Jan and his manual of OTC stocks, you can visit his website.
He can also be reached via LinkedIn.
Staying In Touch With Eric Schleien
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