You'd be hard pressed trying to find any companies in the shoe industry with returns or margins anywhere close to those of K-Swiss. Not to mention it has the best balance sheet in the industry, no debt more than 1/5th of the market cap in cash. Based on comps to its industry its worth no less than $35 per share with high, but slowing international growth, fueling my DCF I peg its value at $45 per share. If you're skeptical because I'm using DCF to value it don't be, 3rd avenue who hates DCF owns a boatload of it.

http://mikesnewsletterinvesting.blogspot.com/2006/09/overstockcom.html

As I write this I'm playing Madden 2007 which I - really my parents but who cares? - have shelled out $50 for seven years in a row. Also Some of my players come from the NCAA Football 2007 game I also shelled out $50 for. EA is the master at creating video game franchises - gamers will keep paying year after year to buy the same game with better graphics a few updates and some new features. It has used these to become the top dog in the industry and holds one of the better competitive positions out there today. I believe that a secret growth formula not many people have realized is blockbuster, they recently upped their fees to where I can now go an get 5 movies and 2 bottle of pop for the price of one game -obviously with a coupon and deluxe or whatever they call it membership - loyal gamers won't want to keep paying $8 a week (less actually) to play these games and will start buying the games outright. It may be semi overvalued but companies this good don't come by very often.

Great Management , discounted to Comcast no net debt. Catalyst - GM selling remaining shares or DTV buying them back without being hooked to a crap company DTV will soar.

Sheet Rock is like Google, Gillette, Kleenex - a brand name that is widely accepted as the name for the product. Add in Buffett progressively buying the company and I'll bet on this one.

Under liquidation value Pabrai just bought.