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michaelj

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  1. He owns just under 10% of DAL, AAL, LUV. If I recall during the CNBC interview this week, part of his answer to why he wasn't buying in Q4 was that in the (unnamed) stocks he was interested in adding, he didn't want to trigger 10%
  2. It's beer ;D Essentially branded consumer discretionary purchases. They have decent brands (Molson, Coors) and an established distribution network. It's pretty cheap and was 10% off today. While the business may go thru ups-and-downs, especially in terms of management's execution (as we are seeing with other CPG's like Kraft-Heinz), I think product demand will remain relatively more steady (compared to say, Tide detergent). So it's basically, multiple is low, they have scale, brands should have staying power. Was just curious if there was more than met the eye to the thesis. In the alcoholic beverage segment, beer is losing market share to spirits and wine. Within the beer segment, TAP’s mass market brands are losing share share to craft beers. I think TAP represents a slow bleeding consumer franchise, somewhere in between a consumer staple and cigarettes, imo. The bleed is probably slow enough that an investment in equity makes sense at this point, especially since pricing holds up. That seems to be the consensus, although I've seen conflicting data regarding beer's overall market share. The first chart in the following link indicates that beer popularity has been surprisingly steady over the last 5 years. https://news.gallup.com/poll/238100/americans-favor-beer-alcoholic-beverages.aspx
  3. I have a 93 in math for my midterm & expect to raise that before the end of the semester. We just covered factoring of polynomials, east peasy. Try extracting cadences & non-harmonic tones from melodic snippets, especially when the key is given but there are modal changes within the piece & then talk about liberal arts majors who don't understand the world. I said nothing about liberal arts majors not understanding the world. I am one myself and would urge my children to as well. I was just pointing out the phenomena of people who think math isn't relevant to them, and therefore make little effort to use it.
  4. It's not just journalists, but any profession that draws primarily on liberal arts/humanities majors. It's unfortunate because a lot of people don't see math as directly relevant to their job, so they use that as an excuse not to make an effort while defining themselves in such a way: "I'm not a numbers guy, that's someone else's job..." etc. However I would venture to say that Americans aren't going to lose faith in journalism just because some of them aren't very good at math. Most people aren't.
  5. Is the LL selling you a leasehold interest or simply assigning you rental payments from the lease?
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