Despite being a Crocs bull, Austin still has some problems with the company as an investment. For example, Crocs has done a tremendous job of growing its product in international markets, but will all that growth abroad, it's also parked a huge amount of cash outside our borders. That means that if the company wants to bring that money home, it's going to be hit with a hefty repatriation tax. While this isn't a problem in the short run as Crocs builds out its presence in other markets, such as Europe and China, at some point if it wants to bring this money back, it's likely to come with a big discount.

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This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.