Amvona

Update: American Eagle Outfitters (NYSE: AEO): Up 85% in 8 Months

*Please read the full notice and disclaimer at the bottom of this page.

American Eagle Outfitters (NYSE: AEO) continued to soar on Monday June 4, 2018, climbing 4.39 percent on the day and 85 percent over the last eight months.  On August 25, 2017 Fr. Emmanuel spoke live to the crew of Benzinga TV about Lemelson Capital Management's previous investment in the company:

...We picked up shares in American Eagle Outfitters... and frankly the one we're most excited about is Hibbett Sports... we just have been loading up and we'll keep buying in the interest of full disclosure... they're [AEO] going to evolve, their going to be a leader in the jeans business... Guess and Express are not as strong..."

In the roughly eight months that followed, the stocks mentioned in the interview performed as follows:

 HIbbett Sports (NASDAQ: HIBB) 116.3%
 American Eagle Outfitters (NYSE: AEO)  85%
 Express (NYSE: EXPR)  42.38%
 Guess (NYSE: GES)  33.97
 S&P 1000 Index  17.77

Fig. 1:  
American Eagle Outfitters stock price performance
August 25, 2017 - June 4, 2018

AEO GES EXPR HIBB IQZ chart

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Update: Dicks Sporting Goods (NASDAQ: DKS) Surges

*Please read the full notice and disclaimer at the bottom of this page.

Dicks Sporting Goods (NASDAQ: DKS) surged as much as ~28 percent today, May 30, 2018.  On November 10, 2017 Fr. Emmanuel spoke live to the crew of Benzinga TV about Lemelson Capital Management's previous investment in the company:

"...we've been buying Dicks as well even though we don't usually buy two securities in the same industry sector..."

In the seven months that followed, the stock rose 44.02 percent vs. 9.46 percent for the S&P 1000 index:

Fig. 1:  Dicks Sporting Goods stock price performance
November 10, 2017 - May 30, 2018

DKS IQZ chart 3

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Watch: Fr. Emmanuel Speaks Live to Benzinga TV on May 11, 2018

*Please read the full notice and disclaimer at the bottom of this page.

Listen to Fr. Emmanuel live on May 11, 2018 speaking to the crew of Benzinga TV about his inevstments in Geospace Technologies, Bed Bath & Beyond and more.

Interview covers his views on the market, macro-economic issues, retail and oil and gas sectors including the following securities:

  • Geospace Technologies (NASDAQ: GEOS)
  • ION Geophysical (NASDAQ: IO)
  • Dawson Geophysical (NASDAQ: DWSN)
  • Transocean (NYSE: RIG)
  • Schlumberger Limited (NYSE: SLB)
  • Halliburton Company (NYSE: HAL)
  • Bed Bath & Beyond Inc. (NASDAQ: BBBY)
  • Hibbett Sports (NASDAQ: HIBB)
  • Domino's Pizza (NYSE: DPZ)

Watch the full interview below or click here.

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A Valentine’s day letter to the Board of Directors of Geospace Technologies

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February 14, 2018

Gary Owens, Chairman of the Board of Directors
The Board of Directors
Geospace Technologies Corporation
7007 Pinemont Drive
Houston, Texas 77040

RE: Annual Meeting Circus

Dear Gary,

I trust that you are aware that entities under our control collectively own approximately 10% of the issued and outstanding shares of common stock of Geospace Technologies, Inc. This makes us one of the company’s largest shareholders.[1]

As one of the largest shareholders, we cannot but be deeply troubled by the actions of this board of directors in responding to the activities of current executives and directors of the company, who have knowingly violated securities laws as outlined in our letter to you of February 9, 2018.[2] As you know our vote against the proposed executive compensation plan was confirmed by both you and the transfer agent at the annual meeting held on February 7, 2018. Nevertheless, company executives have acted as if this vote was never cast, and, even worse, to cover up this deception in the form 8-K which was filed on February 12, 2018. Mr. McIntire’s attempt to justify the chicanery of later disregarding the votes in the most recent form 8-K, to put it nicely, is fanciful. This action is particularly offensive considering Mr. Wheeler’s recent comments on the Q1 2018 conference call--that the executive management team and directors of the company “...have a very good dialogue [with Lemelson Capital]…” and that “[Lemelson Capital] is a very valued shareholder.”[3]

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Lemelson Capital Management calls for Removal of Geospace Technologies (NASDAQ: GEOS) Senior Executives, Sale of Company

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Lemelson Capital Management calls for Removal of Geospace Technologies (NASDAQ: GEOS) Senior Executives, Sale of Company

Firm seeks public and transparent filings

Marlborough, MA, February 9, 2017—Lemelson Capital Management, LLC, a private investment management firm, announced today it is calling on the board of directors of Geospace Technologies (NASDAQ: GEOS) to remove CEO Rick Wheeler and CFO Thomas McEntire. In addition, it is urging the board to explore an immediate sale of the company. Geospace is a global leader in the design and manufacture of instruments and equipment used by the oil and gas industry.

The full letter can be found here

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As major indexes plummet, listen to Fr. Emmanuel talk about the risk of a crash just one week earlier

*Please read the full notice and disclaimer at the bottom of this page.

Just one week before the Dow and othe rmajor US indexes plummet on February 2, 2018, listen to Fr. Emmanuel speaking to the crew of Benzinga TV on the risks of a stock market crash.  

 …I don’t think people are thinking about the price-value dislocations at all, they just think, no price is too high because tomorrow it will be higher and that’s a scary environment..."

- Fr. Emmanuel Lemelson, speaking to Benzinga TV on January 26, 2018

More from the interview:

“When everyone is jumping in, it’s just classic late stage, the history of US financial markets are cyclical, and you’d have to believe we’re not going to have a down-cycle at any time to buy-in at these prices… frankly the short side looks much better to me. You can almost see it in the sentiment of the average retail investor, when they really believe its easy, right? It’s easy to make money, you put your money in and you get a return and people stop caring about prices… 

When price is completely divorced from value in the mind of the average investor, and then you start to see things that are symptomatic of a bubble, like frantic speculation in things like bitcoin and crypto-currencies, these are all indications that we’ve entered a phase that’s not at all rational and it could end at any time, it could be any sort of event, there’s just no margin of safety in most issues out there right now, most things are fully priced, many things are off-the-charts priced, and I don’t think people are thinking about the price-value dislocations at all, they just think, no price is too high because tomorrow it will be higher and that’s a scary environment”

Watch the full interview below or click here.

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Fr. Emmanuel speaks live to Benzinga TV from St. Katherine Orthodox Chapel

IMG 0520 copy

*Please read the full notice and disclaimer at the bottom of this page.

Listen to Fr. Emmanuel live on January 26, 2018 speaking to the crew of Benzinga TV from the construction site of St. Katherine Orthodox Chapel in Stowe, VT.

 …I just wanted to share with you a conversation, that I had  last week with one of our devoted listeners...and I asked her who is your favorite guest? and your name came up first..."

- Joel Elconin, host Benzinga TV

Interview includes Fr. Emmanuel's views on the market, macro-economic issues, and specifically the following securities:

  • Hibbett Sports (NASDAQ: HIBB)
  • Dicks Sporting Goods (NASDAQ: DICK)
  • The Oil and Gas Sector
  • Geospace Technologies (NASDAQ: GEOS)
  • CGG (NASDAQ: CGG)
  • ION Geophysical (NASDAQ: IO)
  • Apple (NASDAQ: AAPL)
  • Netflix (NASDAQ: NFLX)
  • Domino's Pizza (NYSE: DPZ)

Watch the full interview below or click here.

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Lemelson Capital Management Featured in Activist Insight

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*Please read the full notice and disclaimer at the bottom of this page.

Lemelson Capital Management Featured in the January 23, 2018 addition of Activist Insight

"CEO Patrick Doyle is 'exiting before the chickens come home to roost'... "Doyle has turned Domino's into a financial house of cards, fleeced shareholders by dramatically increasing the shareholder deficit and borrowed recklessly to 'juice' the stock price which in turn enriches him,' "

Activist Insight provides the most comprehensive information on activist investing worldwide, providing unmatched intelligence to professionals in the global activist investment space and is the only monthly magazine dedicated to shareholder activism, granting its readership access to the thoughts and opinions of key industry professionals.

Lemelson: Domino's has the worst corporate governance by amvona on Scribd

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Lemelson Capital Management announces 10 percent stake in Geospace Technologies (NASDAQ: GEOS), urges immediate share repurchase

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Lemelson Capital Management announces 10 percent stake in Geospace Technologies (NASDAQ: GEOS), urges immediate share repurchase

Firm reiterates near-term intrinsic value at $38 per share

Marlborough, MA, December 1, 2017—Lemelson Capital Management, LLC, a private investment management firm, announced today it has acquired, for its flagship Amvona Fund, LP, a stake of approximately 10 percent in shares of Geospace Technologies (NASDAQ: GEOS), a global leader in the design and manufacture of instruments and equipment used by the oil and gas industry. In addition, it is urging the company to initiate an immediate share repurchase plan.

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Listen to Fr. Emmanuel live discussing an update on The Amvona Fund, LP's recent investments as well as thoughts on the markets

Lemelson Capital Management Logo resized to 220 px*Please read the full notice and disclaimer at the bottom of this page.

Listen to Fr. Emmanuel live on November 10, 2017 discussing an update on The Amvona Fund, LP's recent investments in the retail sector.

“…honestly, I thought it [Hibbet Sports] was one of the best value investments we had come across in the last seven years… we loaded-up substantially… we bought a huge block of shares between $9.40 per share and $9.50 per share, I couldn’t believe it, the price”

“some of the things people are saying about them [Hibbett] are not really rational, like saying, ‘it’s too little too late for their ecommerce’… why would you bet that they’re not going to benefit from having an ecommerce business? I think they’re going to do their omni-channel business extremely well… it’s an incredibly well-run business, I think it’s going to be a home-run for us… we already have a very significant rate of return…”

Interview includes an update on the fund's stakes in:

  • American Eagle Outfitters (NYSE: AEO)
  • Guess (NYSE: GES)
  • Express  (NYSE: EXPR) 
  • Hibbett Sports (NASDAQ: HIBB)
  • Domino's Pizza (NYSE: DPZ)

Commentary also includes an in-depth discussion of the market, macro-economic issues, and an update on the performance of the above commitments since the last interview on August 25, 2017.

Listen to the full interview here.

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Listen to Fr. Emmanuel live discussing The Amvona Fund, LP's investments in the retail sector and more

Lemelson Capital Management Logo resized to 220 px*Please read the full notice and disclaimer at the bottom of this page.

Listen to Fr. Emmanuel live discussing The Amvona Fund, LP's recent investments in the retail sector.

Interview includes discussion of the fund's stakes in:

  • American Eagle Outfitters (NYSE: AEO)
  • Guess (NYSE: GES)
  • Express  (NYSE: EXPR) 
  • Hibbett Sports (NASDAQ: HIBB)
  • Domino's Pizza (NYSE: DPZ)

Commentary includes discussion of Amazon (NASDAQ: AMZN) and it's recent purchase of WholeFoods Market, implications for Costco Wholesale (NASDAQ: COST) as well as an extensive discussion of regulatory and accounting abuses in the pharmaceutical industry. 

Listen to the full interview here.

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“Be very careful” Listen to Fr. Emmanuel discuss the risks at Alibaba 17 months before SEC announces investigation into firm

Lemelson discusses the risks associated with investing in Alibaba (NYSE: BABA) in January 2015 (17 months before the SEC announces investigation into firm). Discussion includes descrepencies between the firm's reported shipping figures and carrier capacities as well as commentary on the risks of investing in IPO's in general, particularly Chinese IPO's.  Shares of Alibaba traded around ~$100 per share at the time.

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