We're posting up notes from the 2013 Value Investing Congress in New York. Next up is Jeffrey Smith of Starboard Value. He's an activist investor and talked about Wausau Paper (WPP).
Jeffrey Smith's Value Investing Congress Presentation
Wausau Paper (WPP)
Maker of toilet paper and paper towels. He says everyone needs toilet paper. Significant opportunity to dramatically increase cash flow through better execution. Wants the company to change its name and return cash to shareholders.
He likes that it generates strong cashflow and almost acts like an oligopoly in local areas. They focus on office toilet paper & towels. Starboard owns a 15% position and wants the company to cost-cut and grow in order to then do a big buyback and dividend.
He said he can't talk Smithfield. Starboard is seeking to vote down the buyout of the pork company.
Be sure to check out the other presentations from the New York VIC here.
Wednesday, September 18, 2013
Jeff Smith's Presentation on Wausau Paper: Value Investing Congress
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