Wrote three articles: about FRMO, JCTCF and HWDY/NFBK

I have been busy the past few days writing a total of three articles for Seeking Alpha. Two are about well known names in value circles: FRMO Corp. (FRMO) and Jewett-Cameron Trading Company (JCTCF). FRMO is an interesting business with a stake in Horizon Kinetics, but I think it is way too expensive. Jewett-Cameron’s business is less exciting, but they are interesting because they are super aggressive with repurchasing shares. Unfortunately, I think the stock is roughly fairly valued. It’s not a bad deal, but I’m not expecting great returns either.

The article that I think is the most interesting is the one about the merger of Hopewell Valley (HWDY) with Northfield Bancorp (NFBK). I think it’s a very low-risk deal that should be completed soon that offers an attractive spread. These are the kind of small opportunities that can make a difference at the end of the year.

I usually don’t mention it on my blog when I write something for Seeking Alpha, so if you don’t want to miss anything I suggest you follow me on their site. Alternatively, you can also follow me on Twitter, because I do usually tweet a link.


Author is long HWDY, short NFBK

9 thoughts on “Wrote three articles: about FRMO, JCTCF and HWDY/NFBK

  1. BasedShark


    I read the other JCTCF article this week and am interested in the company. You’re perspectives have always been very helpful. Glad to see the site changed it to a free article.

    Keep up the great work!


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