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John Vincent

 
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  • Tracking Ken Fisher's Fisher Asset Management Portfolio - Q3 2014 Update [View article]
    Hi On Base,

    Thank you for your comment.

    Fisher's private client group touts personalized portfolios and so each portfolio is constructed based on client needs. The 13F lists the sum total of all such portfolio holdings (including institutional money) invested in US stocks.

    All the best,
    John.
    Oct 22 06:40 AM | Likes Like |Link to Comment
  • Tracking Ken Fisher's Fisher Asset Management Portfolio - Q3 2014 Update [View article]
    Hi johnboy1865,

    Thank you for your comment.

    The references to Q1 2014 are correct. For LYG & SIEGY, the last significant activity happened in Q1 and hence the reference. For UBS, there was a large stake increase in Q1 2014.

    All the best,
    John.
    Oct 21 12:22 PM | Likes Like |Link to Comment
  • Keryx Biopharmaceuticals: Baupost Group's New Position Suggests A Possible Takeout And 100%+ Gains [View article]
    Although I wouldn't go to the extend of emphatically stating Klarman traded on inside knowledge that was bought and paid for, the pattern of trades are suspect: The position was at 29.7M shares in September 2013. The stake was increased by another 24M shares in the following months and reached 53.3M shares by March 2014. The acquisition followed in June 2014 at a huge 4x premium. The stake increases were as though Klarman had anticipated the acquisition. Please see my series on Klarman for the details Klarman's trading pattern on IDIX: http://seekingalpha.co...

    All the best,
    John.
    Oct 11 02:55 AM | Likes Like |Link to Comment
  • Indirect Routes To Alibaba: Yahoo Vs. Softbank [View article]
    Hi All,

    Both Yahoo & Softbank has options to reduce or even eliminate the tax impact. Without tax impact, the expected sensitivity to changes in Alibaba share price goes up to 59% for Softbank (compared to 38% assuming 36% tax impact) and 65% for Yahoo (compared to 40% assuming 38% tax impact).

    All the best,
    John.
    Sep 17 04:56 AM | Likes Like |Link to Comment
  • Why Verizon Could Have 30% Upside In 12-18 Months [View article]
    Hi Thomas,

    Great article - Thank you.

    About REIT, it looks like their stance has changed. In the Goldman Sachs conference last week, the CEO said the following in reply to a question about Winstream's REIT structure: "So financially, it doesn't look like it would have the same impact for us and strategically it's probably not the right thing for us to do here."

    Regards,
    John.
    Sep 17 04:28 AM | Likes Like |Link to Comment
  • Merger Arbitrage Mondays - September 15, 2014 [View article]
    Hi Asif,

    Nice to see you back in SA.

    All the best,
    John.
    Sep 15 09:48 AM | 1 Like Like |Link to Comment
  • Indirect Routes To Alibaba: Yahoo Vs. Softbank [View article]
    Hi CubRob,

    Thank you for your comment.

    BABA IPO pricing & the prospectus update were probably the key items that sparked the sudden interest.

    All the best,
    John.
    Sep 10 08:24 PM | Likes Like |Link to Comment
  • Indirect Routes To Alibaba: Yahoo Vs. Softbank [View article]
    Hi Ant024,

    Thank you for your comment.

    Although as a percentage of Alibaba the position is minute at 0.31%, the stake is very high compared to the market capitalization of CDGXF. Mid-point IPO pricing indicates Alibaba market capitalization of $157B implying a value of around $490M for the 0.31% stake. CDGXF market capitalization is $1.24B and so the stake is very significant at 40%.

    All the best,
    John.
    Sep 9 10:15 AM | Likes Like |Link to Comment
  • Indirect Routes To Alibaba: Yahoo Vs. Softbank [View article]
    Hi aretailguy,

    Thank you for pointing this out. CDGXF is another option. WSJ recently had an article on this: http://on.wsj.com/1li0Nul . The numbers do not take into account the tax-impact but there is a sizable gap between sum-of-parts value and market value.

    All the best,
    John.
    Sep 8 09:28 PM | 1 Like Like |Link to Comment
  • Tracking Prem Watsa's Fairfax Financial Holdings Portfolio - Q2 2014 Update [View article]
    Hi Tony Naples,

    Thank you for your comment.

    To perform well when market makes a correction, you need asset classes that are negatively correlated to the market. Based on historical pricing patterns, FRFHF is closer to non-correlation than negative-correlation.

    All the best,
    John.
    Sep 4 07:34 AM | Likes Like |Link to Comment
  • Tracking David Tepper's Appaloosa Management Portfolio - Q2 2014 Update [View article]
    Hi BAHAMAS1,

    Thank you for your comment.

    The spreadsheet is a bit confusing in the case of AAPL as the June 9, 2014 stock-split is not clearly represented. The 3/31/2014 share-count is before the 7-for-1 stock-split and the 6/30/2014 share-count is after the split. The after-split share-count of the 250K shares held on 3/31/2014 will be 1.75M shares and so the 6/30/2014 stake is lower at 1.686M shares.

    All the best,
    John.
    Sep 1 11:36 PM | Likes Like |Link to Comment
  • Tracking Dan Loeb's Third Point Portfolio - Q2 2014 Update [View article]
    Hi colbyclements,

    Thank you for your kind words and the comment.

    Loeb's cost-basis on ALLY is not publicly available. But, given he invested well before the IPO, it is fair to assume it will be very low compared to the IPO/current market price. Information on pre-IPO investments is not publicly available because there is no regulatory requirement to disclose them. So, only details that the fund manager chooses to make publicly available are known. In ALLY's case, Loeb talked about the investment in Third Point's Q4 2013 Letter to Investors. Their letters are good reading. The recent ones are at http://bit.ly/YWnEkF .

    All the best,
    John.
    Aug 26 12:10 PM | 2 Likes Like |Link to Comment
  • Tracking David Tepper's Appaloosa Management Portfolio - Q2 2014 Update [View article]
    Hi Zvi,

    Thank you for the heads up - I agree - given their very different styles, it is rare to see Buffett, Tepper, and Greenblatt have a common pick in the same time-frame.

    All the best,
    John.
    Aug 26 06:01 AM | Likes Like |Link to Comment
  • Tracking David Tepper's Appaloosa Management Portfolio - Q2 2014 Update [View article]
    Hi Zvi,

    Thank you for pointing this out - I missed that and will get it corrected ASAP.

    All the best,
    John.
    Aug 25 10:19 PM | Likes Like |Link to Comment
  • Tracking Carl Icahn's Portfolio - Q2 2014 Update [View article]
    Hi boxerboy,

    That explains it - Thank you.

    All the best,
    John.
    Aug 25 10:16 PM | Likes Like |Link to Comment
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