Bender Trust-The Aftermath
Posted on : 25-04-2006 | By : RohailR | In : Everyday
4
So Bender Trust is over. It was actually pretty interesting to get to wear the shoes of an investment analyst. I worked on our 7-page report for a good six to seven hours. Of course, I did the majority of the work but whatever. In the end, we did a damn good job. I thought Mr. Francfort was pretty impressed with our report and very intrigued by the company we chose. With a bit more knowledge about the industry, I think I’d be an excellent analyst in all honesty. Let’s see if I choose to go down that road. Not sure when we find out the results of the competition. One thing though–it was ridiculous the number of people that didn’t even bother to dress up for the competition. You’re finance majors for God’s sake. Myself and the people in my group were the only ones really dressed up. Oh well. Better to be overdressed than underdressed I say.
Related posts:
Rohail,
Good to read your presentation went well. I am considering being an analyst as well. Anyway, to answer your other question the receivables turnover is calculated by taking Net Sales Rev./Average net receivables = X. Then you divide 365 by X. This tells you how many days it takes the company to collect on accounts, which I believe was 90 something for MIDD.
Ah I see. Thanks for clearing that up. Also, Mr. Francfort, the gentleman we presented our report to thought that the 44.9% increase in accounts receivables was “no big deal” as it was mainly the A/R inherited by way of their acquisition of a company called Alkar Holdings. In addition, he thought the fact that Accounts Payables was up 55.9% or so was a good thing because Middleby is basically getting a “free loan,” which makes sense. So I thought that was interesting. I definitely learned a lot tonight.
Yea thats teaches that you can’t simply go by the numbers on the financial statements you actually have to know how and why they got there, I had no idea they acquired another company. Does Mr.Francfort have a website we can check out?
I tried googling Greg Francfort but all I found was a mention of him on Bloomberg.com: http://quote.bloomberg.com/apps/news?pid=10000006&sid=aif6dn_V4rDc&refer=home
Apparently, he manages more than $1 Billion at Neuberger Berman Inc. in New York. He also teaches at Columbia University from what I hear.