Market America is a marketing and product brokerage that’s been in business since 1992. Since its inception over two decades ago, over a million people have gotten on-board and are selling the products that the company has available for distribution. This allows entrepreneurs the ability to earn hundreds of dollars per month selling products that they do not have to buy, store and ship themselves. Market America works with third party manufacturers to distribute these products, and these are the companies that do the shipping and returns for you. Market America is currently found in America, Canada and Singapore, and they are planning to expand to Europe and Africa. The company was founded by married couple Loren and JR Ridinger. There are over 650 people working in offices around the world for the company, and their job is to help people who are beginning their entrepreneurial journey.

The company offers over a dozen different product lines that independent distributors can sell on pre-purchased websites. These product lines include Isotonix, Royal Spa, Pet Health, AutoWorks and Snap. The products range from cleaning materials to weight loss supplements and everything in between. This gives independent distributors greater flexibility to choose and change what they want to sell to the public. Distributors can also sell multiple product lines on their site, which aids in product selling and production. Both Market America and the distributor makes money off of each sale that is made online. It’s not uncommon for distributors to make their first sale within a week of starting up so long as proper marketing and advertising techniques are being used. The company itself also sells these products on their Shop.com platform, which was sold to them by Bill Gates in 2012.

Distributors of all M.A. products are responsible for paying a monthly fee to keep their sites active and to keep the rights to the products they’re selling. They will also need to attend seminars and conventions to better educate themselves on product marketing. These seminars cost roughly $100 to $300 to attend and it’s advised that distributors book their seats early to secure a spot for themselves. The company thinks of itself as the Unfranchised Franchise“, since distributors are still selling someone else’s product without the cost and headache of owning a localized franchise.

 

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Success in investments could be a complex mix of rational analysis, risk-management and a whole lot of unknown fortuitous variables that are too complicated to calculate. This means that it helps to be largely conservative in one’s management of investments to survive in trading. As Warren Buffet said, take all the risks you want but make sure you don’t forget that tomorrow, you still have to show up for work. Fortunately for Chief Investment Officer Sahm Adrangi of Kerrisdale Capital Management, LLC, he understands the value of being conservative and the importance of giving negative reports.

In the last negative report given by Sahm Adrangi for St. Joe Company, he argued that there’s too much misleading information about the firm. He believes that St. Joe Company’s calculation of the value of their real estate ventures could be far out or off the mark. He also believed that St. Joe’s real market value could even be lower because of the situation that its main investor, Fairholme Fund, is experiencing. The shareholder is still under investigation or processing because of the new SEC liquidity rules that will make or break the real value of the firm. This new regulation could even force St. Joe Company to force-sell its assets.

Secondly, it is seen through the analysis of Kerrisdale that no big improvement can be observed on St. Joe’s plans for their real estate project. The channel checks from Kerrisdale even saw no significant activity regarding building department inquiries over their product offerings. This leads Sahm Adrangi to argue that it’s too much of a stretch to believe in the current $1 billion assessment of the market value of the entire St. Joe Company’s projects. Such valuation could not match the current progress of the firm.
What makes Kerrisdale Capital’s assessment of St. Joe Company significantly reliable is the fact that Mr. Sahm Adrangi is the Founder itself of Kerrisdale Capital, so he holds accountable for whatever advice he gives out to his clients. He is also an experienced investment analyst, especially from his equity fund experience at Longacre Fund Management.