By insider. EVP and COO of Newfield Exploration Company (NFX) Gary D Packer sells 23,000 shares of NFX on 03/10/2010 at an average price of $52.86 a share. Read more » »

By insider. CEO & President of Daktronics Inc. (DAKT) James B Morgan sells 6,000 shares of DAKT on 03/10/2010 at an average price of $8.07 a share. Read more » »

By insider. COO and Executive VP of MarineMax Inc. (HZO) Edward A Russell sells 4,120 shares of HZO on 03/09/2010 at an average price of $11.8 a share. Read more » »

By insider. EVP- Finance Admin/CFO of ParkerHannifin Corp. (PH) Timothy K Pistell sells 4,000 shares of PH on 03/09/2010 at an average price of $63.31 a share. Read more » »

By insider. Chairman & CEO of Morningstar Inc. (MORN) Joseph D Mansueto sells 8,500 shares of MORN on 03/10/2010 at an average price of $49.01 a share. Read more » »

By guruek. Prem Watsa Chairman and CEO of Fairfax Financial Holding Limited (FRFHF) published his letter to shareholders. Like Warren Buffett, Watsa writes very shareholder-centric letters, and I highly recommend you get your own copy here. Read more » »

By Miguel Barbosa. After my interview with James Montier, I received several emails asking for additional information on reverse dcfs. Luckily we have wonderful readers, one of them namedKevin, who has emailed me a paper on the use of reverse dcfs. I recommend reading this as it follows the Mauboussin Rappaport model from the book Expectations Investing. Read more » »

By Greenbackd. Back in the spring of 1999, when the world was enamored of dot coms and not much else, three guys at Piper Jaffray, Daniel J. Donoghue, Michael R. Murphy and Mark Buckley*, produced a superb research report called Wall Street’s Endangered Species. The thesis of the paper was that there were a large number of undervalued companies with strong fundamentals and solid growth prospects in the small cap sector (defined as stocks with a market capitalization between $50M and $250M) lacking a competitive auction for their shares. Donoghue, Murphy and Buckley argued that the phenomenon was secular, and only mergers or buy-outs would “close their value gap:” Read more » »

By Greenbackd. Back in the spring of 1999, when the world was enamored of dot coms and not much else, three guys at Piper Jaffray, Daniel J. Donoghue, Michael R. Murphy and Mark Buckley*, produced a superb research report called Wall Street’s Endangered Species. The thesis of the paper was that there were a large number of undervalued companies with strong fundamentals and solid growth prospects in the small cap sector (defined as stocks with a market capitalization between $50M and $250M) lacking a competitive auction for their shares. Donoghue, Murphy and Buckley argued that the phenomenon was secular, and only mergers or buy-outs would “close their value gap:” Read more » »

By Cam Hui. I shudder whenever someone proclaims that we are entering a New Era, or this time it’s different. There are certain things in life that I have come to depend on, such as a bearish Stephen Roach, the chairman of Morgan Stanley Asia and former global strategist. His writing used to be so depressing that you had to read King Lear to cheer up. He was such a perennial bear that I used to joke with my Morgan Stanley sales contact that Morgan Stanley needed to throw a huge party when he turned bullish. Read more » »