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48 - David Flood Interview: Dark Stock Investing ($PLWN, $BVERS, $NTIP, $MIRI, $HMGN)

The DIY Investing Podcast: Value Investing | Fundamental Analysis | Mental Models | Business Management

Release Date: 10/27/2019

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How to connect with David Flood (Elementary Value)

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Show Outline: Interview with David Flood of ElementaryValue.com

The full show notes for this episode are available at https://www.diyinvesting.org/Episode48

Part 1: David Flood's Investing Process

  • How have you developed as an investor over time?
  • David Flood's Investing Process:
    • Basket of Stocks (20-30+ positions - 2.5-5% each)
    • Overlooked stocks (Low liquidity, sub $10 million market cap)
    • Deep Value
    • Price charts to identify stocks at all-time lows and long-term base
  • Investing in Net-Nets vs Nano-Cap Chart-based deep value
  • SEC seeking to ban quotation of Dark Companies
  • Wants to find and own companies no one else has written up

Part 2: Example Stocks

  • Pinelawn Cemetary ($PLWN) - Dividend yield of 9-10%, nearly zero liquidity
  • Beaver Coal Co. ($BVERS) - Misunderstood land company 50,000 acres diversified with coal, gas deposits, timberland, log cabins, and mobile home parks
  • Network-1 Technologies ($NTIP) - A net-net with catalyst. Cash bucket patent troll.
  • Mirriad Advertising (LON: $MIRI) - Video insertion tech company partnered with Tencent
  • Hemagen (HMGN) - Market Cap: $155k USD. Dark since 2013.