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  • Icahn lowers Netflix stake to 4.5% [View news story]
    Interesting technical description on CNBC AH
    Oct 22 06:07 PM | Likes Like |Link to Comment
  • The Mythology Of Tesla's Valuation [View article]
    "I always ask two questions: What are the other investors missing? And, when are they going to realize that their expectations are wrong?"

    Why don't you ever ask, "What could I be missing"?
    Oct 16 10:01 AM | 6 Likes Like |Link to Comment
  • Amazon gets bearish Barron's treatment [View news story]
    This stock can remain irrational longer than you can remain solvent.
    Oct 6 11:51 PM | 4 Likes Like |Link to Comment
  • U.S. Silica misses by $0.02, misses on revenue [View news story]
    Morgan Stanley and BofA just increased their price targets on SLCA this am. Both are buys at $28 and $29 respectively, citing an improved pricing environment to drive future EBITDA growth.
    Aug 2 08:46 AM | Likes Like |Link to Comment
  • Mount Kellett Capital, which has long been vocal about its displeasure with Sprint's (S +0.7%) $2.97/share deal to acquire Clearwire (CLWR +2.9%), says it has joined forces with 3 other major shareholders - Highside Capital, Glenview Capital, and Chesapeake Partners - to create a united front against Sprint's offer. Together, the shareholders own 18.2% of Clearwire's publicly-traded stock. With shares closing today at $3.37 and Dish's $3.30/share bid still on the table, investors are clearly betting on a higher deal price. (13D) (Crest Financial[View news story]
    Between the 18.2% of this group + the 8% that Crest has, by definition Sprint won't get this deal done.
    May 4 01:53 AM | Likes Like |Link to Comment
  • Special situations fans might want to have a look at one almost right from the pages of Joel Greenblatt's book. Spun off as part of the Leucadia (LUK)/Jefferies (JEF) merger and now trading is Crimson Wine Group (CWGL.PK). Leucadia owners received 1 share of Crimson for every 10 shares of LUK they owned. It's wine, it trades OTC, and it's not worth a lot - in other words, Leucadia shareholders may end up dumping the stock for reasons having nothing to do with its value. [View news story]
    According to the latest Form 10 for CWGL. They have ~$180mm in Pro Forma TBV.

    Treasury Wine Estates Ltd. (PINK:TSRYY) has ~$1.95bn in TBV according to the latest interim results (2/28) and trades at a 2.0x TBV and has ~1.85x net leverage vs CWGL's debt free balance sheet.

    Risks: Illiquidity. Cumming (8.7%) and Steinberg (9.7%) decide to blow out.

    Reward: Underfollowed and underappreciated. At 2.0x TBV (arguably conservative compared to TSRYY, given its riskier balance sheet) it's easy to see how this trades 30-40% higher.

    Here is an article from TAM Capital Management further laying out the bull case.

    Happy investing.
    Mar 13 02:16 AM | Likes Like |Link to Comment