Saturday, August 18, 2012

The Marketing Alliance - Insurance Agent Network

This looks cheap at 14. It trades on the pink sheets (maal.pk).


Also, it pays a dividend and buys back stock.

I'm not aware of any write-ups on this issue but I haven't looked very hard.

4 comments:

  1. Been on my radar for awhile. It's a large position for Chanticleer Holdings, a value fund out of Charlotte.

    Here's a good interview with the MAAL President:

    http://seekingalpha.com/article/592071-interview-with-tim-klusas-president-of-marketing-alliance

    ReplyDelete
  2. Interesting. Thanks for the link.

    ReplyDelete
  3. Here's a link to a newsletter writeup: http://www.classicvalueinvestors.com/pdf/Marketingalliance.pdf

    ReplyDelete
    Replies
    1. Thanks for the link.

      This business does not have a competitive advantage. That concept is often misapplied. Nevertheless, it does look like quite good value.

      Delete