Value Investing with Sven Carlin, Ph.D. on $CALM (Nov 7, 2026)

Cal-Mein Foods, the egg company. The stock has been significantly down over the past year and something like that. In the last analysis, I told you to wake me up at 3 billion .

There was an appropriate comment. Thank you for that.

The company produces 15.6 billion eggs annually , not them, but chickens of course. But well, egg-based meals, they are moving towards producing meals. From a positive net income thanks to high prices, Cal-Mein Foods began losing money, and operating income and gross profit declined.

This number is 403,000. Some of you have higher salaries than that . This is not 403 million, but only 403 thousand. So the situation is very bad.

They are investing in prepared foods. I don't know how much I like the prepared food because the situation is bad.

Bird flu had a low impact this year, meaning more eggs, and therefore a significant drop in their prices. High egg prices in the past created a lot of investment, which meant lots of hens laying eggs in abundance.

But this is a recurring investment. The higher the peak, the longer the recession. So I'm still monitoring the situation.

I am looking at the uses of capital. 5 million in buybacks, that's nothing. This is a mistake. When the stock was high, they did more buybacks, so I don't like that . It is better to buy back when the stock is low on company fundamentals, not when it is too high.

Now that the stock is here, you made a lot of buybacks here, and now you don't.

Therefore, I am making adjustments based on a periodicity of 200 million annually multiplied by 10 to 15 to consider these periodic companies. I'll go back to sleep when the market value drops to...

I'm turning my back now. Wake me up again. I'll leave it here so we can monitor it.