tag:blogger.com,1999:blog-2149523431587168680.post5909956013755510839..comments2024-01-16T00:12:23.220-05:00Comments on Oddball Stocks: Buck Hill Falls: a ridiculously cheap oddballNate Tobikhttp://www.blogger.com/profile/05660387777171986124noreply@blogger.comBlogger23125tag:blogger.com,1999:blog-2149523431587168680.post-75362508608050596432018-11-03T13:26:49.790-04:002018-11-03T13:26:49.790-04:00Do these HOA resident fees also include membership...Do these HOA resident fees also include membership in the country club, golf, pool, etc., or are those amenities extra?!Sheri Putnamhttps://www.blogger.com/profile/12311849242324041992noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-22301511081200940022018-04-20T20:55:39.652-04:002018-04-20T20:55:39.652-04:00We are looking to buy there and realize the HOA fe...We are looking to buy there and realize the HOA fee is high but the low cost of real estate will off set our monthly nut. Please elaborate on your experience there!Anonymoushttps://www.blogger.com/profile/11867426673252436288noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-50954834204422546542018-04-20T20:53:55.690-04:002018-04-20T20:53:55.690-04:00We are looking to buy there and would love more in...We are looking to buy there and would love more insight on this. We realize the HOA is insane but with the low cost of real estate it offsets the monthly nut. A lot of the HOA fee is for the amenities and we think it may be worth it. Please shed any more light on this!Anonymoushttps://www.blogger.com/profile/11867426673252436288noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-48725600960029214212018-03-09T17:53:00.171-05:002018-03-09T17:53:00.171-05:00Having lived there recently, I can tell you why it...Having lived there recently, I can tell you why it's a bad investment....the residents pay $12k+ per year in dues, which is the #1 source of "income". Mismanagement and loss of the hotel back in the 80's meant home owners were responsible to make things balance. Dues have gone from $2k to 12k over last 20 years....run away!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-78568945639783425422017-07-01T12:52:16.618-04:002017-07-01T12:52:16.618-04:00Don't know if anyone still tracks this but 201...Don't know if anyone still tracks this but 2016 FY earnings of 140k. Not bad. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-52149960087385966552015-04-30T12:31:12.493-04:002015-04-30T12:31:12.493-04:00Buy a HOME in Buck Hills Falls and those over $10,...Buy a HOME in Buck Hills Falls and those over $10,500 ( yes you read correctly) HOA fees will kill your bank account. No wonder so many gorgeous estately homes are for sale. And they are for sale dirt cheap too!!! Just type "Buck Hills Falls, PA homes for sale" if any of your readers don't believe me.<br />Buck Hills Falls homes' HOA---Run FROM the Hills !!!<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-70036910616584058832013-10-23T16:52:55.397-04:002013-10-23T16:52:55.397-04:00fascinating! Do class B shares vote? If you were a...fascinating! Do class B shares vote? If you were able to scan the annual report, I'd love to read as well.Joel Hornsteinhttps://www.blogger.com/profile/00582303361288013366noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-63517139871688614252013-09-15T03:51:48.876-04:002013-09-15T03:51:48.876-04:00Hi Nate, great research! Would you mind sending me...Hi Nate, great research! Would you mind sending me the annual report?<br /><br />Does it has anything to do with the abandoned Buck hill falls inn? They say it's haunted....that would make a good reason for the discount(lol)... I want to check if it's on the books...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-7359302924238936302013-09-11T14:36:21.054-04:002013-09-11T14:36:21.054-04:00Yes, there is the allure of acquiring shares by ha...Yes, there is the allure of acquiring shares by hand in a situation like this.<br /><br />The capex is even worse then that, they company said in their letter that they've taken out a large credit line that they intend to use on improvements over the next year. The line hasn't been drawn down yet, but they plan on using the entire thing. So that's another ~$2m spent on items that return nothing.Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-65520855584603151662013-09-11T14:34:34.035-04:002013-09-11T14:34:34.035-04:00Nate, I'm reminded of when Buffett had to go d...Nate, I'm reminded of when Buffett had to go door to door to buy shares of some company (Sanborn?) in the 1950s. The capital allocation decisions here are atrocious. Spending $200K per year in capex to get $200K in operating cash flow?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-60891457066649358492013-09-11T12:05:53.965-04:002013-09-11T12:05:53.965-04:00Send me an email, someone else requested an annual...Send me an email, someone else requested an annual report, I'll work to scan it. Would love to hear about the place as well.Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-90399826589542537512013-09-11T12:05:26.897-04:002013-09-11T12:05:26.897-04:00The company was originally listed in the 2002 edit...The company was originally listed in the 2002 edition of Walkers Manual. They also appear if you do a screen for "No Information" companies on OTCMarkets.Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-64498236240393044512013-09-11T12:05:00.596-04:002013-09-11T12:05:00.596-04:00There is almost always a manual step to getting in...There is almost always a manual step to getting information on these companies unfortunately. Often that's why they're so cheap.Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-80055677226024520402013-09-11T12:04:35.038-04:002013-09-11T12:04:35.038-04:00The understatement of a century, it took me almost...The understatement of a century, it took me almost a year to get a share, and I paid up for it. My bid was a few dollars higher than the ask and it still took that long!<br /><br />NateNate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-16423772795994036162013-09-11T12:04:00.596-04:002013-09-11T12:04:00.596-04:00Jim,
I don't have an idea, my guess is a lot ...Jim,<br /><br />I don't have an idea, my guess is a lot of the home owners hold the majority stake.<br /><br />NateNate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-82188404460651254382013-09-11T12:03:26.757-04:002013-09-11T12:03:26.757-04:00Great question, the issue I have is that managemen...Great question, the issue I have is that management isn't working for shareholders, they're working for homeowners. I question some of the capital allocation decisions, money spent on various things that are nice for the community but ultimately destroy value for shareholders. <br /><br />The company is strange, as I mention in the post it's really a traded HOA. Management has also worked to shut out shareholders, they delisted and have made is very hard to get information. Maybe someone will buy up the lot and take them over, but it's not something I'm going to wait for.<br /><br />While the value gap is large there are also some very active forces working to keep it that way.Nate Tobikhttps://www.blogger.com/profile/05660387777171986124noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-59655982493132417312013-09-11T11:32:39.700-04:002013-09-11T11:32:39.700-04:00Interesting little company, but I'm a bit puzz...Interesting little company, but I'm a bit puzzled that you don't like the investment. I get it isn't a typical company but don't you always say that a company should sell for less than the true value of its assets - liabilities?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-31320912377118754522013-09-09T20:11:10.700-04:002013-09-09T20:11:10.700-04:00What Would Buffett Do?
Hi, Nate --
Obviously tim...What Would Buffett Do?<br /><br />Hi, Nate --<br /><br />Obviously time to go activist! You already own a share, why not buy a house and start stirring up the pot?<br /><br />Yours,<br />RP<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-56858968851992701122013-09-09T13:27:06.407-04:002013-09-09T13:27:06.407-04:00Nate--
Any idea what the ownership of this is? Wh...Nate--<br /><br />Any idea what the ownership of this is? Who owns what?<br /><br />JimAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-23322280795751924892013-09-06T00:28:59.555-04:002013-09-06T00:28:59.555-04:00Great article! Another problem with BUHF is that t...Great article! Another problem with BUHF is that the trading volume is miniscule...Chris Pollocknoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-25269959124274239842013-09-05T12:35:12.051-04:002013-09-05T12:35:12.051-04:00Interesting article.
Do you find that you have t...Interesting article. <br />Do you find that you have to request annual reports for dark companies... Is there a way to receive them automatically when they are released by the company?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-61934593399195858652013-09-05T11:50:04.951-04:002013-09-05T11:50:04.951-04:00how did you find the company originally? how did you find the company originally? anonymoushttps://www.blogger.com/profile/08473194825911220953noreply@blogger.comtag:blogger.com,1999:blog-2149523431587168680.post-10853971127825808902013-09-05T11:19:30.617-04:002013-09-05T11:19:30.617-04:00Nate,
I love reading your blog. This article just...Nate,<br /><br />I love reading your blog. This article just blew my mind--I grew up in Buck Hill Falls. Could you direct me to where you purchased the share? I never even knew it was publicly traded...by the way, I could provide plenty of anecdotal evidence as to why it's a bad investment, but I would love to see the numbers.greg8885https://www.blogger.com/profile/14323369046259184115noreply@blogger.com