Sarcasm is defined as “the use of irony to convey or mock contempt”. In modern English usage, the phrase “duly noted” can be used as a form of sarcasm, especially when used facetiously.
I expect to be duly paid for my overtime hours.Ī complete set was duly produced. Sentences that use the word ‘duly’ include Outside of the phrase “duly noted”, the word ‘duly’ can be found in many different uses. When a judge instructs someone to record something, the phrase ‘duly noted’ is usually given as an affirmative. The phrase ‘duly noted’ can usually be found inside a courtroom or other official businesses. The first usage of the word ‘duly’ was recorded in the late 14th, early 15th centuries. Merriam-Webster dictionary classifies the word duly as an adverb with synonyms of The word ‘duly’ comes from the old French word ‘deu’, or ‘to owe’. Read on to learn more about the history of the phrase and other times in which it could be used properly. When someone tells you that they have ‘duly noted’ something, it means they have documented it in the proper form. This creates barriers to entry for competitors in what could be described as a regional monopoly for brand sales granted by Alta’s OEM partners.The word ‘duly’ in duly noted means ‘at the correct time and proper way’. Having an active fleet provides Alta with a long, multi-year tail of higher margin Parts & Services revenue (35% gross margins on Parts and 55% on Services)Īlta typically receives exclusive geographic coverage on both equipment and replacement parts from their top OEM (original equipment manufacturer) partners, such as Hyster-Yale (the leading forklift manufacturer) and Volvo (heavy construction equipment). Alta’s business model revolves around selling new and used equipment at relatively low gross margins (16% on New Equipment Sales and 27% on Rental Fleet Sales in the most recent quarter) to maximize the amount of equipment in the field. The company has 65 full-service locations across 11 states, with a concentration in Michigan, Illinois, New York, and Florida, along with locations in Quebec and Ontario, Canada. Alta is a heavy equipment dealership and rental business, that sells, rents, and services forklifts and heavy construction equipment. "One investment idea that has grown to nearly 5% of the portfolio is Alta Equipment Group Inc. (NYSE:ALTG) in its Q4 2022 investor letter:
Voss Capital made the following comment about Alta Equipment Group Inc.
(NYSE:ALTG) has a market capitalization of $620.382 million. (NYSE:ALTG) was 11.90%, and its shares gained 54.28% of their value over the last 52 weeks. One-month return of Alta Equipment Group Inc. (NYSE:ALTG) stock closed at $19.27 per share. On March 9, 2023, Alta Equipment Group Inc. (NYSE:ALTG) operates an equipment dealership platform. Headquartered in Livonia, Michigan, Alta Equipment Group Inc. (NYSE: ALTG) in its Q4 2022 investor letter. Voss Capital highlighted stocks like Alta Equipment Group Inc. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022. Master Fund’s net exposure as of December 31st, 2022, was 83.0%. Voss Capital’s funds, Voss Value Fund, LP, and the Voss Value Offshore Fund, Ltd returned +17.2% and +16.9% net of fees and expenses respectively, in the fourth quarter compared to a +6.2% return for the Russell 2000 index, +8.4% return for the Russell 2000 Value Index, and +7.6% return for the S&P 500 Index. A copy of the same can be downloaded here. Voss Capital, an investment management company, released its fourth-quarter 2022 investor letter.
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