I'm happy to discuss this with you, but I'm under the impression you aren't fully reading my posts. You seem to think I am saying Markowitz is correct. I am not saying this. I am not in a position to say this until I test his argument.
In a nutshell, Markowitz is predicting Chapter 11 (not Chapter 7) perhaps as soon as the end of October. Here are his words from August 21, 2014:
"I believe that Titan will file for Chapter 11 bankruptcy and not Chapter 7. Chapter 11 will wipe out all of their shareholders. However, it will enable them to remain as a small retail farm equipment chain and they will still be a distributor for CNH."
On the same day he wrote:
"It will take a miracle for Titan to either not have been in violation of its debt covenant with Wells Fargo at the end of its second fiscal 2015, quarter which ended on July 31, 2014 or its third fiscal quarter ending October 31st."
It sounds like you haven't read any of the links I provided to this forum yet. Perhaps you don't wish to know/understand the details, which is fair enough, but it makes a discussion between us difficult to have.
For us to have that discussion, you have to be willing to engage on his points, to refute his points, which are based on a reading of TITN's Balance Sheet, Income Statement, and Cash Flow Statement over a number of years.
I haven't yet verified his arguments to my own satisfaction. That's why I haven't put a lot of money to work. And why I am working with the materials I've mentioned in prior posts.
At any rate, today's news about TITN's report, which was far from stellar, have no bearing on Markowitz's arguments. We have to look at and attempt to understand their most recent Cash Flow Statement before determining if a multi-year downward trend and Chapter 11 is still a possibility.
Kind regards,
Minding
