Comments on Steve Lukather's articles RSS Syndication from SeekingAlpha.com http://seekingalpha.com/author/steve-lukather/articles http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-231433 231433 Fri, 15 Aug 2008 15:14:07 -0400 http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-228854 228854 Tue, 12 Aug 2008 16:26:02 -0400
]]> http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-228465 228465 Tue, 12 Aug 2008 08:16:10 -0400 http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-228326 228326 Mon, 11 Aug 2008 21:29:40 -0400 They listen to the "Talking Heads" on CNBC
Again someone has to sell their stock at a loss to drive a stock Down from $80 to .70 Cents
Tis fear / lack of knowledge in their investment]]> http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-228319 228319 Mon, 11 Aug 2008 21:14:51 -0400
It is a testament to the strength of these businesses that they could make serious underwriting mistakes and then be subjected to merciless attack by short-sellers and rumour mongers, and when the smoke clears there is still this fabulous amount of value remaining.

Steve, you identify the importance of present value - their contracts obligate them to pay pricipal and interest when due, and they cannot be accelerated against. This is one of the features of the business model that makes it so strong.

I am long both ABK and MBI. I had the good fortune to be able to buy some options on ABK, Jan10 2.50 calls for .50. If this ever goes to zero, which I doubt, I lose .50. If it goes up to the adjusted book value, or beyond if mark to market reverses, I will get paid 30 X my investment.

]]> http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-228281 228281 Mon, 11 Aug 2008 19:58:46 -0400 awrcf.ob--Asian Infrastructure play including Australia,Thailand and China- copper wire for telco and power industry- current price $3.10
you get rev of $510 Million and net of .35-- book value $10.00 ( does not include large hordes of land and building at current values), cash/sh around $3.75- 13.8 million shares outstanding and Michael Dell's fund owns 20%-- you get a PSR=.08, trailing 12 PE 8.8X, trading 20% below cash value and 70% below stated book-- company been growing by 30% during the past 5 years
all this for $3.10-- management intends to list nasdaq soon according to press release.
THE CHEAPEST STOCK IN THE UNIVERSE! AWCRF.OB
CONCERNING ABK- NOT TRADING VERY POSITIVE- IT COULD TRADE BACK INTO THE LOW $3.00 RANGE--LOTS OF UNCERTAINTY- THIS MARKET IS EXTREMELY SENSITIVE TO ANY RATTLE!]]> http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-227820 227820 Mon, 11 Aug 2008 11:46:23 -0400 http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-227761 227761 Mon, 11 Aug 2008 10:54:14 -0400 http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-227589 227589 Mon, 11 Aug 2008 08:33:19 -0400 http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-227541 227541 Mon, 11 Aug 2008 07:02:35 -0400 History will write that this man was a destructive force for our society, and his actions served no better purpose except then to further his own portfolio.
]]> http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-227540 227540 Mon, 11 Aug 2008 07:02:15 -0400 That being said, the picture is not as rosy for ABK and MBi as you might think. They will be able to deal with their mistakes in the CDO business, sure. But their main business was insuring muni-bonds and if you look at the precarious state of the us economy and the quick deterioration of federal and municipal budgets (collapsing tax revenues!) this spells lots of trouble. I am cautiously long mbi/ABk, mostly senior debt, but expect substantial deductions from current book value estimates over the next 4-5 years. ]]> http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-227538 227538 Mon, 11 Aug 2008 06:59:04 -0400 http://seekingalpha.com/article/90251-the-emperor-mr-ackman-has-no-clothes?source=feed#comment-227520 227520 Mon, 11 Aug 2008 06:03:02 -0400