[OK, I screwed this up.  This was supposed to hit your email today — Tuesday — and the one titled “Happy Thanksgiving” was supposed to hit tomorrow.  Oops.]

 

PRKR

This report — though paid for by the company itself — says PRKR’s 37 cent shares are “cheap vs. our probability-adjusted SOTP estimate of $10 a share.”

I had to look up SOTP (sum-of-the-parts).

And note that one part to which they assign no value is the company itself.  Namely, its remaining (skeletal) talent and potentially valuable store of intellectual property.

Add that in and you understand why I think its a great lottery ticket.

The last time there was a trial on this matter, the jury found for PRKR but the judge overturned the verdict.

Might this next jury again be persuaded Qualcomm meant “this is critical technology that we must land”?

Might they even decide Qualcomm acted willfully (exposing them to much greater liability)?

It’s fun to dream about.



OVAL

Do you think Trump will set up an Oval Office lunch like this?



AOC

Take 12 minutes with A.O.C. to see how much you disagree.

I think she was wrong in chasing Amazon from New York; I think her rhetoric is sometimes too hot.

But how much of what she has to say here, if anything, do you think is wrong-headed, wrong-hearted, or unAmerican?



DNC

So many of you helped, I wanted you to see this — “Biden Campaign credits DNC in Election Win” — and to thank you again.



CNF

The case for investing in China.  One more reason I’ve bought more CNF.