Chris DeMuth Jr.'s  Instablog

Chris DeMuth Jr.
  • on Portfolio Strategy & Asset Allocation
  • on Healthcare
  • on Conglomerates
Send Message
  • The Millionaire Next Train 12 comments
    Sep 9, 2013 6:40 PM | about stocks: GS, MS

    I was taking the train in to New York City from New Canaan with my typical stack of fat SEC filings and various offering documents. "Mutual conversion, eh?" came a voice from behind. However, it wasn't the typical Fairfield County finance guy heading in a job at Goldman Sachs (NYSE:GS) or Morgan Stanley (NYSE:MS). It was the train conductor. He had recognized the offertory document that I was pawing through and launched into a detailed conversation about conversions, pricing, and post-conversion M&A. Apparently, he has made over eight million dollars through the years investing in financials in this way. It was very clear that he knew what he was talking about and it turned out that we have significant overlaps in our portfolios. It is a small world and a world where experts are hidden in some unexpected places.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Additional disclosure: Chris DeMuth Jr is a portfolio manager at Rangeley Capital, a partnership that invests with a margin of safety by buying securities at deep discounts to their intrinsic value and unlocking that value through corporate events. In order to maximize total returns for our partners, we reserve the right to make investment decisions regarding any security without further notification except where such notification is required by law.

    Stocks: GS, MS
Back To Chris DeMuth Jr.'s Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


More »

Latest Comments

Most Commented
  1. Archived GCVRZ Forum ( Comments)
  2. GCVRZ Forum Archive ( Comments)
  3. Event Driven Q&A Forum ( Comments)
  4. GPT Forum ( Comments)
  5. Shorts Forum ( Comments)
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.