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jonfff

jonfff
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BBX, GPT, NHF, O, RDI, SC
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  • A REIT That Could Return 50% Investing Alongside Fortress [View article]
    Brad, why are you negative on the external management of NRF and yet don't view the external management of SNR as a negative? Seems very inconsistent to me. SNR just completed an unexpectedly large capital raise that caused the stock price to crater. I am surprised you did not choose to comment on that recent event.
    Jun 30, 2015. 09:55 AM | 4 Likes Like |Link to Comment
  • Important Events In Front Of Reading International Q2 Report [View article]
    Andrew the stock has been very strong of late. Any new thoughts from your end?
    Nov 4, 2014. 10:09 PM | Likes Like |Link to Comment
  • I'm Staying On The Gramercy Property Trust Train [View article]
    Brad, any new thoughts on GPT? You see them expanding their asset management business -- you see them setting up funds to invest in net leased properties on behalf of other investors -- wasn't that the model at WPC? Any other opportunities for GPT? What's next?
    Oct 21, 2014. 01:34 AM | Likes Like |Link to Comment
  • Strong Catalysts And Sum Of The Parts Shows Potential For BBX Capital [View article]
    I love the cheerleading on this board. I don't hate the company and actually own probably multiples of the stock you own. You like being down another 9% today because mgmt will sell the stock down at any price? If you love this as much as you say you do you must be buying today.
    Oct 9, 2014. 11:46 AM | Likes Like |Link to Comment
  • Strong Catalysts And Sum Of The Parts Shows Potential For BBX Capital [View article]
    ok - i agree intrinsic value is much higher -- those that would ignore technicals (levan and abdo selling every day and the prospect of an extended legal process and stupid candy company acquisitions) are ignoring highly relevant factors that are influencing the stock price. okay so it's cheap. I, you and most of the world agrees that it is. all that's true -- but why is it trading at such a discount to intrinsic value? at this point I would argue that is because investors don't trust management and because the company doesn't do a good job of communicating the investment proposition and it is for all intensive purposes a "private company that happens to be public." if they spent 1/2 the time explaining the business prospects of bluegreen as they did touting their acquired candy companies (which reflects badly on their judgment) the stock price would be a lot higher.
    Oct 9, 2014. 09:10 AM | Likes Like |Link to Comment
  • Strong Catalysts And Sum Of The Parts Shows Potential For BBX Capital [View article]
    Listen I own the stock. I don't doubt the monetary penalty is low. I also disagree the SEC has a bad case. Regardless, my point if if BBX loses don't expect them to go quietly. They will appeal and Levan will try to hold on. Why has the stock not "worked" in the past year -- because it's been dead money with no catalyst. Yes, the stock is cheap but you could have said the same thing 6 months ago and you would have lost a fair bit of money (like I have). Finally, the the judge ordering a settlement conference I'm not a lawyer do discount what i say but that's typical. Anyone who's excited about that prospect is crazy. You think the govt will settle when they've been pursuing Levan for 6 years? The idea that the govt is going to settle right before the trial strikes me as borderline absurb. They want Levan's scalp and nothing less will do. Why would they settle now?!
    Oct 8, 2014. 06:05 PM | 1 Like Like |Link to Comment
  • Strong Catalysts And Sum Of The Parts Shows Potential For BBX Capital [View article]
    I have read the pleadings and think the SEC has a good case and BBX a weak case. I think BBX is highly likely to lose. If they lose what do people think happens next? Can and won't BBX appeal? Doesn't this legal process entail the possibility that this plays out over an extended period of time with the stock in limbo until there's a definitive resolution not subject to one side appealing?
    Oct 7, 2014. 08:25 PM | Likes Like |Link to Comment
  • Santander Consumer USA A Hit With Institutions With Sharply Rising Dividends Likely [View article]
    Do you have a link to the roadshow/presentation?
    Jan 22, 2014. 07:52 PM | Likes Like |Link to Comment
  • NexPoint Credit Strategies Fund - Exploiting Distress, Yet Trading At A Discount [View article]
    You did not mention the extensive and recent insider purchases by Dondero which I see as a significant positive (although to be fair the purchases were closer to $9 in December rather than the ~$10 price the stock is currently at).
    Jan 22, 2014. 10:46 AM | Likes Like |Link to Comment
  • CEF Premiums: Getting All The Risk, But Only Some Of The Reward [View article]
    You need to look at what NHF owns to understand their strategy. Despite the fund's name they have significant "credit related equity" exposure which is close to 50% of their portfolio. That is why the total return has been so high -- they are taking significant equity risk. For example they owned AMR debt which was converted into AMR equity and reorg equity in Young Broadcasting which was acquired by Media General. I agree with you the NHF closed end is trading at a an enormous discount that is "too wide." I expect the discount to narrow. The fund is "too cheap." Just understand you are taking "equity like" risk and the fund's categorization as a "senior loan" fund is a misnomer given the large equity exposure.
    Dec 21, 2013. 11:52 AM | 2 Likes Like |Link to Comment
  • Inside Realty Income's Capital Structure [View article]
    Have you looked at EPR as a net lease alternative to NNN and O? Much higher yield and I am comfortable with the movie theatre and charter school tenants.
    Jan 21, 2012. 12:31 AM | Likes Like |Link to Comment
COMMENTS STATS
12 Comments
7 Likes