winjitsu

Smoak is pretty famous https://www.smoakcapital.com/ Bradley Radoff is does long/activist and will pop up in many 8ks ($BOOM, $ENZ)

Did not know this and went down a rabbit hole. US investors can buy the OTC stock and tender the same on Fidelity and IBKR as I learned. For this particular one, Paid In Capital is $14.98 and tender price is $12.00 so it seems it should be safe from out-sized taxes (just 15% I think, versus if the PIC is lower than the tender price, the entire difference is treated as the dividend).

Any US-based odd-lot maximizers (multiple accounts) know the rules around these Canadian tenders? Would love to know if I can use the US OTC $feccf and experience using different brokers like Fidelity, Schwab, Etrade etc. Happy to share notes

They have not made an announcement and I haven't received a proxy statement from my broker yet

Yes, then you are now short yen and taking part in the “carry trade”. Im not an economist, but with japan raising and usa lowering rates, i think 160 is the highest well see and wont get back there

Bought heavily into $PCF today post rights-offering. "The Fund intends to hold a special meeting of shareholders of record as of Friday, August 23, 2024, to consider proposals to approve these changes. Shortly after the special meeting, the Board intends to authorize a tender offer by the Fund to purchase at least (a) 90% of the number of shares issued in the rights offering if the proposals are adopted, or (b) 60% of the number of shares issued in the rights offering if the proposals are not adopted, at a price of at least 98% of NAV." It's very likely the proposals will be adopted. NAV is around $7.17. Price is around $6.59.

Does Capital Accounts book exist anywhere to purchase? Read Capital Returns a few months ago and it was great. Mine: Greenblatt You Can Be a Stock Market Genius Greenwald Competitor Demystified Kahneman Thinking Fast and Thinking Slow

I'm sure we'll both make alot of money... just could have made a little more The volume increase this week and number of mentions on Twitter means this is no longer under the radar Just two weeks ago, I was convinced I was the only person looking at it. But it shows there are smarter people than me all around the world always looking

Sadly cats out of the bag with this one. Wish it traded lower for longer before the tender for a juicier event-driven set-up

Saw that Greg Alexander (https://www.dataroma.com/m/stock.php?sym=GPI) had been adding. Looking at just the last call transcript, they seem to be the only player w/ growing SSS and maintaining the margins. Their product mix seems better (more Toyota) and geography (more Texas / South). Trading at 8x now, so maybe 10x normalized? Anyways a couple turns cheaper, disciplined growth between buybacks and acquisitions. Edit: Missed your comment about LAD. Just different models, AN more focused on buybacks, whereas LAD more focused on acquiring revenue. LAD did have the pendragon and big UK acquisition so I'm not sure what to make of that. But I think the roll-up model has lots of room. I have some wealthy acquaintance that are in the dealership business and I have no doubt a corporation coming in there with a clear playbook and best practices can rachet up earnings. There's some obvious advantages to size as well for inventory and LAD and AN are the two biggest now.

Margins reverting to pre-covid levels, so not a real 10x. Though it's a great company, and that entire industry, LAD, AN, GPI, ABG, really shows that iron sharpens iron. All making great moves. I'm in GPI

+1. End of life care (stage 7 fully assisted, plus possible funeral expenses) means you're going to want to keep a large chunk of cash or near liquid assets. I think most people underestimate these incredibly expensive final months unless the family has committed to something like assisted death or early hospice care. 4 years isn't enough to go through a market cycle, so I'm not sure you'd want to have that much equity exposure unless you are certain you don't need that money. Annuity might not be a bad idea since you take out market risk and longevity risk off the table.

I think you might need to do a %GDP comparison, but could only think of Defense Contractors during war-time economies that might see this level and percentage of increase.

Jonn Litt at Land and Buildings https://landandbuildings.com/corporate-engagement/

MACK filled at 14.65 SMCI 700/600 Jan '25 Bear Spread. First time "trading" like this in a while. I wouldn't be surprised if "they" tried to gamma squeeze this again on Friday.