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given2invest

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Posts posted by given2invest

  1. https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

     

    So their "employee only" fund does 60% a year...but their "rest of the people" fund, does this...

     

    https://www.ft.com/content/6bd17811-3205-454e-89e4-953dce6b4dfe

     

    The Medallion fund doesn't do equities I believe and has been deliberately kept small to keep the high returns going. Their marketed funds have not been as successful due to size and different asset classes that they're involved in.

     

    Not true, Medallion does whatever Medallion wants to do.  I'm sure most of it is equities.  And "small" is $5b+ year in the fund returning 40-50% year after year, if not greater.  Yes, they return all the excess capital annually, but that's still a lot of capital for those kind of returns.  Amazing.

  2. GRPN was not a $3 stock before Covid.  It was $1.50 or so - the blowup was due to atrocious earnings/guidance/restructuring not Covid.  It then went much lower cause of Covid.

     

    The risk of the short is there is huge synergies if they ever combined with YELP. 

  3. Tilson has effectively monetized the concept of "value investing". He has made a pretty penny selling it to others, despite not really having made much money using it. Ironic.

     

    Award for best post using the least amount of words possible.  A+

     

    This shit is so shameful...

     

    "Our commitment to excellence has quickly made us one of the most respected publishers in the financial newsletter industry. Our subscribers include many of the biggest names on Wall Street – including Bill Ackman, Joel Greenblatt, Leon Cooperman, and many others."

     

    Only $3000 a year!  If you act now!

     

     

  4. yeah, I don't use it.  They are constantly sending messages - 'try adaptive algo' and the more annoying 'warning, you have used a market order!' when I use market orders.  I know when I want to use a market order.  I don't need a warning against it each time.  By and large, regular old limit orders work best for me at IB.  Much better than the firms that route to citadel or god knows where and orders sit unexecuted.

     

    If the bid is 20.10 and ask is 20.15, Is it basically putting an order into the market at 20.11, and if not filled, move up 1 cent to try again? I think this kind of activity may cause the market to go up as it is seeing some aggressive bidder coming in. Or is it doing something smarter?

     

    I am really pissed when i put in a buy adaptive order with patient urgency today with a limit of 20.6, and after market opened, it remained at 20.30 bid and 20.49 ask for 8 minutes without getting me filled, and then price went way up to 21.8. I called them to ask what "patient" really means but they refuse to answer.

     

    10 years now I have gotten how many 100 of those "warning you are using a market order emails".  IT DRIVES ME CRAZY.  Worst run company.

  5. Sub $100M market cap is too small.  I'd think sweet spot $100M to 2B.  Key is to have some sort of differentiated view/info and not just "it's cheap".  If it reads like a sell side research report I doubt they will be impressed. 

     

    For instance, maybe there is a division that's crushing it, worth more than the EV, but it's being masked by the rest of the shitty business? 

     

    In reality, I'm sure they just reject most applicants these days.  I wouldn't take it personally.  Keep on trying.

  6. do not underestimate how much easier it is to manage 1 million, 10 million, 100 million than 1b+ let alone 10b. 

     

    that's just a part of why he has failed but it's real.  yes, plenty can manage 10b but it's much harder than 100m.

  7. You want a law I'd support?

     

    Management cannot do ANY phone calls with ANY investors outside of a public forum.  No 1:1s and no sell side calls.  You want to talk to investors?  Host a public call.

     

    Result:  A more fair market + management has 100s of hours a year they don't have to spend marketing.  And sell side/banks need to work harder for their research money.

     

    But...it will never happen.  Too much money in the access.

  8. A couple notes about Tilson, he had a very solid track record (against the S&P 500) until 2010 or so. He had about $180 million in 2010 which isn't large but not bad considering we were just getting out of the financial crisis.

     

    http://ritholtz.com/wp-content/uploads/2011/02/T2-Partners-Jan-2011.pdf

     

    I also think he did not comes from a wealthy family (but could be wrong on that).

     

    Fund was launched on 1/1/99.  That terribly skews his track record till that date.  Show it to me annually not since inception.  I saw it and I remember being far from impressed vs. the bench marks.  And through 2016 I believe even since inception from that lucky date he hasn't beat it.

     

    Edit:  I see the annual comps at the bottom.  They are fine.  If you add the last 6 years though...

  9. Tilson should not be in the same paragraph as Einhorn and Ackman.

     

    For starters, they are billionaires from managing money.  Tilson probably worth 10 million max.

     

    Second, Tilson never had a good track record.  At least Einhorn and Ackman did for a number of years.

     

    Tilson is all hype.  Go look at his returns.  There is a reason he never accumulated any AUM.

     

    For the rest of what you said, definitely possible.  But they still billionaires. 

  10. Amazon agreed to start charging sales tax in California sometime in 2012.  I think a bigger headwind is the fact that their customer base is old and I'd guess is dying at a rate >1.5% a year. 

     

    Online sales are currently about 2% of total sales...even growing at 20% a year its going to take a long time to become significant, maybe it wouldn't be a bad idea to double down and try a bid for overstock...I hear they're pretty good at liquidating inventory!

     

    You're off by a factor of 3x on how big online sales are.

     

    http://techcrunch.com/2010/03/08/forrester-forecast-online-retail-sales-will-grow-to-250-billion-by-2014/

  11. Chris Whalen on King World News Dec 21 interview suggests that BoA be put into receivership because they are losing the mortgage litigation. Do the bank analysts have information which the public does not hear?

     

    IMO, BOA and other banks that were failing should have been receivership in the first place instead of the bailouts that have occured

     

    agreed

  12. Dick Bove has made a lot of meaningless analysis, like when he says that the banks are trading for less than the cash on their balance sheets.

     

    And if you go back over his prior comments, he was saying Citigroup would be at $200 (split adjusted) a share by the end of 2011 or 2012.  http://wallstnation.com/bove-citi-1122009

     

    What did Dick do in his career that made people listen to him?  He seems to not be a very good bank analyst at all.

     

    Yah, THIS.  The guy is an idiot. 

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