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Dan Braem

 
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  • FitLife Brands Announces Share Repurchase Program [View article]
    Thanks for the info. May revisit after reviewing the next quarter.

    All the best.
    -Dan
    Jul 15 01:47 PM | Likes Like |Link to Comment
  • FitLife Brands Announces Share Repurchase Program [View article]
    How much of pre-tax income goes to management versus the amount that goes to shareholders? I sold out of this after a nice run, and I seem to remember that management salaries increased by a fairly large amount.
    Jul 15 10:58 AM | Likes Like |Link to Comment
  • Yahoo Is A Hedge Fund [View article]
    Interesting. I'm catching up on Yahoo. So post Alibaba sale/IPO - you have $15B of cash ($4B on hand + $10B from sale), maybe 14%-15% ownership in Alibaba worth $22B (assuming your 150B valuation), and the $10B stake in Yahoo Japan. Throw in the US business and the other investments and you have a good deal here.

    Not a 50 cent dollar to me, but a significant enough discount to warrant serious consideration here.
    Apr 24 01:49 PM | Likes Like |Link to Comment
  • Yahoo Is A Hedge Fund [View article]
    I don't know the answer to this - where is the $4.5B of cash located? If not the US, then it is not available for buybacks.

    If only half is in the US, then how much could that dent a $35B market cap? And how much would be needed for operations? Seems like a stretch to me.
    Apr 24 12:50 PM | Likes Like |Link to Comment
  • Steel Excel - Shell Company Turning Into Profitable Business [View article]
    Forbid is not really the right word. "Limit" is.
    Mar 24 09:31 AM | Likes Like |Link to Comment
  • Thoughts On The Berkshire Hathaway Annual Letter And Report [View article]
    I disagree about it doesn't matter that they are American vs. European. Makes a world of difference IMO.
    Mar 14 11:05 AM | 1 Like Like |Link to Comment
  • Thoughts On The Berkshire Hathaway Annual Letter And Report [View article]
    Briar - I was just going to respond before I noticed your comments on European style options.

    Buffett loves float, long tail insurance, and the US economy. Writing puts on the US index (and perhaps others) completely reflects his investment style.

    Not sure how receiving cash in year 1 and paying a much lower amount in the distant future is a bad deal. Just a great insurance deal for Berkshire, which is what I wrote at the time and has played out accordingly.
    Mar 6 10:58 AM | 1 Like Like |Link to Comment
  • Thoughts On The Berkshire Hathaway Annual Letter And Report [View article]
    David, you continue to provide the best commentary on insurance companies.

    You raise an interesting point where you state "other insurance companies can't do this".

    Seems like Buffett has had some benefits for quite a while. I remember similar commentary from 20 years ago. Perhaps originally he received some preference with Nebraska regulators.

    In today's time, maybe instead of going all in equities during the crisis, he bought preferred shares with option kickers to satisfy the insurance requirements (e.g. BAC, GS, etc). Maybe he structured the Heinz deal (with some preferred elements) to allay insurance regulations/requirements. Perhaps this is why this structure is so favorable, and a future template for BRK. Doing all these deals with large portions of fixed income with some equity upside is quite brilliant really.
    Mar 2 08:22 AM | Likes Like |Link to Comment
  • FitLife Is Very Cheap, But Probably Not For Long [View article]
    I have owned this starting at .07 before the reverse split. Nice article, but I would prefer less written about this than more.

    The author makes some good points, and I would like to throw in another. I believe that this could be a cash cow for years, so the question becomes what to do with the capital?

    Dividend? Share buyback? Business expenditures? Pay down debt? Or something more creative?
    Feb 15 06:01 PM | 1 Like Like |Link to Comment
  • Patience: The Key To Succeeding With Safeway [View article]
    Mark - I agree, and have been super bullish since $17 (thanks to the idea given to me by a friend). The question is why so many firms were bearish on the stock at $17.

    The company will either go private via the method you suggested, or via the share buybacks.

    Either way, it is a win (although I haven't been a buyer up here).
    Oct 28 02:17 PM | Likes Like |Link to Comment
  • Patience: The Key To Succeeding With Safeway [View article]
    A good price was $25 when I said it was a screaming buy on these boards. Now you just wait.
    Oct 23 07:46 PM | Likes Like |Link to Comment
  • Book Review: Harry Long's 'You're Welcome Planet Earth: The Most Powerful Trading System Ever Publicly Revealed' [View article]
    Mick - I can't reveal too much. But this is a trading system - not an investment in Apple or Gold as you mentioned.

    Also, the system has beat the S&P. So the fact that the S&P has been in a bull market merely suggested the trading system has outperformed the S&P over the same time frame.
    Aug 15 01:18 PM | Likes Like |Link to Comment
  • Safeway's Exit Out Of Canada, The Math Done For You [View article]
    So the company is worth $6.2B (mkt cap) and will spend $2B in buybacks? What about the rest of the cash flow?

    I think there will be more buybacks and more dividend raises.

    And I just bought more b/c $25 and change doesn't value this company properly.
    Jun 13 10:42 AM | 1 Like Like |Link to Comment
  • Safeway: In The Discount Aisle For A Reason [View article]
    Safeway is one of my top three positions and has been ridiculously cheap for way too long. I think it was priced in the low 20's simply because of lazy wall street analysis. Blackhawk? Who cares? Real estate development? Who cares? How much of the debt relates to real estate or share buybacks? As we now see, assets can be sold to pay down debt.

    I have to see how the Canadian transaction plays out, but this may be a 40 stock and not a 30 dollar stock.

    As a friend of mine said yesterday, SWY sold their Canada business for more than the entire market cap of SWY. If SWY wasnt a value play, I dont know what is.
    Jun 13 07:12 AM | 2 Likes Like |Link to Comment
  • Loews - 23% Undervalued With Protected Downside [View article]
    Well done.
    May 29 09:58 PM | Likes Like |Link to Comment
COMMENTS STATS
206 Comments
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