ValueMaven

Isnt AYR trading above the $32 per share takeout offer? what am I missing here?

Say what you want about WEB - but he nailed Apple. One of his best investments!

You can only pick one name. Brief bullet point as to why. This will be interesting: Texas Pacific Land Trust (TPL): Stable oil prices in the mid-60s is ideal, factored with a conversion from a Trust structure to a C-Corp will improve investor ownership, and awareness of this unique security. Possibly 1 for 10 split as well to improve liquidity for this self-liquidating Trust. Large cash balance will be payed out sometime in 1Q either through a large dividend, or a tenor offer (co has $350M in cash and zero debt currently). Nearly impossible to value through traditional metrics. 80% margins historically

Stay long -- many catalysts for both commons and preferred holdings in 1Q 2020.

Buffett Watch: search for Fannie Mae - a lot of interesting comments from Mr. Buffett throughout the years! https://buffett.cnbc.com/

I've what Sweeney wrote to be more meaningful for shareholders of FNMA then en banc ... personal opinion I know - but all of this really gives us holders of either prefs or common another angel. Basically speeds up settlement if you ask me.

Thank You!

well, actually, discovery has been performed... Ok then - how big of a deal then was Friday nights news? Seems to me FHFA and Treasury are playing with a ticking time-bomb

Im finally starting to realize that - WOW - this was a big deal. Blew up in the govt face. I just wonder what the govt can block in discovery??? -VM

Anyone actually get through all 4,500 pages?? It's on my 2020 list of things to do ...

Thank you WEB for NOT trying to outbid a silly, second-tier (subjective I know) PE shop. As your loyal investors - we know what principals you stand on and for.

Out of the Malone empire - what is your favorite Liberty compounder? Trackers? Spinoffs?

TPL - self liquidating land trust

talk about dead money!!! wow Pref's are getting killed!!! Politics are impossible to handicap!! FNMAS down -7% over the last 6M's while SPX up 10%

I just finished it -- it is extremely well written - with many practical application...guy is extremely interesting!!

This might be worth taking a long shot in ... could still be a $0 however

n00b GSE investor question here -- but how much of FCF is actually CASH earnings vs. financial adjustments. One would think with the heavy utility-like function, the quality of earnings has improved...i'm just wondering if this topic has been addressed in the past. ie: what % of servicing and structuring fees make up the GSE's EPS...Thx!

old news ... pointless to post this no update to NWS which is extremely disappointing

Low Vol has been getting KILLED recently ...

Where can I find all of Buffett's letters? Someone once posted over 4,000 pages (partnership, berkshire, Forturne etc) -- I just cant seem to find them!! Thank you

Rare interview just surfaced! Enjoy!

I hope this POS riots in hell. Scum couldnt even face a trial ... like a coward he took the easy way out. 100% fraud. Sell off all of his assets and give it to his victims

Agreed -- but in some of their funds they hold 40% in TPL ?? In a single stock -- thats unheard of

Interesting - I guess the spreads between MMMF's and 3M T-Bills are not as wide depending on platforms. Even still its basically free money for these b/d's

Assume you are sitting in 20% - 30% in cash due to valuations etc -- you are most likely getting a broker rate of literally 3bps to 5bps ... while the 3M bill is yielding over 2.2% !! Unless you are rolling over T-bills actively, most brokers are making risk-free money hand over fist right now. I dont want credit or duration risk (hence no closed end funds which were CRUSHED in 4Q) ... I've been looking at different ways to enhance my cash. It looks like I am going to move 75% of my cash into the SHV ETF - which is under 1yr duration, and only invests in UST. There is a FLOT etf - which moves with LIBOR, and is rated single-A in terms of credit with like a 0.40 duration -- but even still -- to much risk. I'd be open to see what others thing of this .. you always want some dry powered in case of a flash crash etc -- however I am tired of letting brokers make free money off my money!! -VM