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Ran Moshe  

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  • Sears Warrants Explained [View article]
    5982831, if they do that, they might end up with a negative strike price
    Nov 26, 2014. 11:49 AM | Likes Like |Link to Comment
  • Sears Warrants Explained [View article]
    Axius, it is a warrant for SHLD, not the REIT
    Nov 26, 2014. 11:48 AM | 1 Like Like |Link to Comment
  • Sears Warrants Explained [View article]
    Thanks for the comment. Nice idea.
    Nov 25, 2014. 02:46 AM | Likes Like |Link to Comment
  • Sears Warrants Explained [View article]
    The notes will not be publicly traded, but will be transferable. The warrants will be publicly traded though, under SHLDW
    Nov 24, 2014. 02:15 AM | Likes Like |Link to Comment
  • Sears Is Done [View article]
    I don't understand the comparison between Land's End and JCP / St. John's Bay:
    The former was spun off and given to investors. If you held on to it, you made a nice profit by now. But as a client, you can still get Land's End products from the Sears website or stores, just as before.
    On the other hand, JCP just discontinued St. John's Bay - a quality low-price brand, and alienated much of its client base by that.

    Again, there's no comparison between the two cases.
    Sep 22, 2014. 09:41 AM | Likes Like |Link to Comment
  • Why I Closed My Sears Long Position [View article]
    One obvious catalyst, which Lampert keeps touting, is the double spending on marketing - both through the traditional ads and coupons, and through the membership model.

    Once that double spending stops, they should be close to breakeven by my calculation.
    Jun 23, 2014. 08:58 AM | 1 Like Like |Link to Comment
  • Buy Bank Of America Like Buffett: Warrants Offer Tremendous Value [View article]
    Hi Josh, thanks for the article. If I'm not mistaken, the price adjustment for the dividend is relative to the stock price (so the adjustment is <new strike = old strike * [dividend/stock price]), and not as you wrote.
    Also, there is an adjustment for the number of stocks given for each warrant, that's also determined by the dividend.
    Mar 3, 2014. 09:22 AM | 1 Like Like |Link to Comment
  • J.C. Penney: A Followup Of Bill Ackman's Presentation [View article]
    After going over the numbers I actually agree. The figures do include Sephora - but only the new rollouts, not the existing Sephora stores.
    Mar 17, 2013. 02:09 AM | Likes Like |Link to Comment
  • J.C. Penney: A Followup Of Bill Ackman's Presentation [View article]
    Thanks for the specific store information, very helpful!
    Mar 5, 2013. 03:18 AM | Likes Like |Link to Comment
  • J.C. Penney: A Followup Of Bill Ackman's Presentation [View article]
    I don't disagree - just noting that they have a long way to go to get anywhere close to Bill Ackman's mid-level expectations. The 33% increase does *not* include Sephora, so at the least there's a silver lining here.
    An important point supporting the bullish view on JCP, is that traffic begets traffic. Once customer flow increases to one shop, the rest of the shops enjoy the extra business as well. So as Ron Johnson says, this is in fact a retail startup - and it should not be judged according to existing numbers. Just to keep in mind, this is not a classic value investment, more a VC type of play...
    Mar 5, 2013. 03:17 AM | Likes Like |Link to Comment
  • J.C. Penney: A Followup Of Bill Ackman's Presentation [View article]
    From Ken Hannah in the 3rd quarter conference call:
    "Now, in that space, we are including their fair share of the aisle, of the cash wrap, of everything else, so we are not backing away on that and just
    calculating on the merchandising pad. We are talking about the full 64 million square feet in the store. So the only thing we are excluding there is
    all the back-of-house and the office space, okay? So when you look at that, $269 per square foot of productivity, as we mentioned, it has got Sephora
    in there, it has Mango, it has the jcp brands for Men's and Women's, Levi's, Arizona, Liz Claiborne and Izod."
    Mar 4, 2013. 03:01 PM | 1 Like Like |Link to Comment
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