Gregmal Posted October 16 Share Posted October 16 Bought some more GYRO. Court ruling paves way for 100% upside IMO Link to comment Share on other sites More sharing options...
Saluki Posted October 16 Share Posted October 16 Bought a little ENPH and KRKNF as they came down. Small tracking position in RTO and VRRM while i study them. Link to comment Share on other sites More sharing options...
valueventures Posted October 16 Share Posted October 16 On 10/12/2024 at 9:10 AM, wisowis said: Added to RTO, SCR.to, and HTL.to merger arb this week What's your thesis on SCR.TO? I'm long as well, but this one doesn't get much discussion here. Thanks! Link to comment Share on other sites More sharing options...
Red Lion Posted October 16 Share Posted October 16 4 hours ago, Gregmal said: Bought some more GYRO. Court ruling paves way for 100% upside IMO I'm not familiar with this at all, but I had to look it up since you have a habit of hitting these special situations on the head and walking away with buckets of Benjamins. The only news article I saw mentioned that New York Supreme Court ruled in favor of GYRO. Are you concerned about an appeal? Isn't Supreme Court the trial court in New York? Or was this just another instance of sloppy journalism? Link to comment Share on other sites More sharing options...
Gregmal Posted October 16 Share Posted October 16 43 minutes ago, Red Lion said: I'm not familiar with this at all, but I had to look it up since you have a habit of hitting these special situations on the head and walking away with buckets of Benjamins. The only news article I saw mentioned that New York Supreme Court ruled in favor of GYRO. Are you concerned about an appeal? Isn't Supreme Court the trial court in New York? Or was this just another instance of sloppy journalism? Whats been communicated and was reiterated at the recent AGM is that this was the last holdup for final approvals on the entitlements and once done the properties could be marketed which would wrap up the liquidation. They reiterated NAV is more than double todays opening price. This is a pretty easy to size up handful of assets, its just tiny and probably hasn't been on anyones radar in ages. The fact this opened sub $8 with this news just shows that. What was interesting though, especially given its size, is how on the ball Towerview has been, regularly, snapping up shares in the event they were available under $8. Link to comment Share on other sites More sharing options...
Red Lion Posted October 17 Share Posted October 17 7 hours ago, Gregmal said: Whats been communicated and was reiterated at the recent AGM is that this was the last holdup for final approvals on the entitlements and once done the properties could be marketed which would wrap up the liquidation. They reiterated NAV is more than double todays opening price. This is a pretty easy to size up handful of assets, its just tiny and probably hasn't been on anyones radar in ages. The fact this opened sub $8 with this news just shows that. What was interesting though, especially given its size, is how on the ball Towerview has been, regularly, snapping up shares in the event they were available under $8. Awesome, this one will probably get away from me by the time I get comfortable with the moving pieces. Sounds like a killer setup. Link to comment Share on other sites More sharing options...
WFF Posted Thursday at 07:20 AM Share Posted Thursday at 07:20 AM 9 hours ago, Gregmal said: Whats been communicated and was reiterated at the recent AGM is that this was the last holdup for final approvals on the entitlements and once done the properties could be marketed which would wrap up the liquidation. They reiterated NAV is more than double todays opening price. This is a pretty easy to size up handful of assets, its just tiny and probably hasn't been on anyones radar in ages. The fact this opened sub $8 with this news just shows that. What was interesting though, especially given its size, is how on the ball Towerview has been, regularly, snapping up shares in the event they were available under $8. Was digging around, any reason they issue so many shares earlier this year? From what I gather they expect to liquidate Dec 2025, which current is estimated to be around 16, diluted down because of the share issue. Link to comment Share on other sites More sharing options...
Gregmal Posted Thursday at 03:02 PM Share Posted Thursday at 03:02 PM 7 hours ago, WFF said: Was digging around, any reason they issue so many shares earlier this year? From what I gather they expect to liquidate Dec 2025, which current is estimated to be around 16, diluted down because of the share issue. Rights offering to ensure proper liquidity to see thru remaining litigation. 1 Link to comment Share on other sites More sharing options...
Paarslaars Posted Thursday at 04:01 PM Share Posted Thursday at 04:01 PM Apparantly you have to be a US citizen to buy this? Link to comment Share on other sites More sharing options...
spartansaver Posted Thursday at 07:28 PM Share Posted Thursday at 07:28 PM Thanks for posting Greg. I've been following for four plus years but never bought. I missed the announcement about the ruling. Bought as much as I could today. I never wanted to get in ahead of the ruling, but with the positive outcome this thing looks great. Link to comment Share on other sites More sharing options...
mananainvesting Posted Thursday at 08:46 PM Share Posted Thursday at 08:46 PM (edited) @Gregmal @spartansaver: Are there any weird tax implications with $GYRO ? Example: Like an LP? Edited Thursday at 08:47 PM by mananainvesting Link to comment Share on other sites More sharing options...
spartansaver Posted Thursday at 08:50 PM Share Posted Thursday at 08:50 PM 2 minutes ago, mananainvesting said: @Gregmal @spartansaver: Are there any weird tax implications with $GYRO ? Example: Like an LP? That's one worry I've had due to the K1 but hopefully its a good problem to have down the line. I'm semi expecting to pay taxes in my non-taxable accounts. 1 Link to comment Share on other sites More sharing options...
Gregmal Posted Thursday at 09:15 PM Share Posted Thursday at 09:15 PM Im not too concerned as theres no real operations, just the last two properties in Long Island. 1 Link to comment Share on other sites More sharing options...
fareastwarriors Posted Friday at 04:37 AM Share Posted Friday at 04:37 AM 7 hours ago, Gregmal said: Im not too concerned as theres no real operations, just the last two properties in Long Island. What kind of terminal value you;re looking at, mid to high teens? Link to comment Share on other sites More sharing options...
Gregmal Posted Friday at 04:27 PM Share Posted Friday at 04:27 PM 11 hours ago, fareastwarriors said: What kind of terminal value you;re looking at, mid to high teens? Given the timeframe really anything over say $13 should be wonderful. Think it’s ultimately a good bit higher than that. Link to comment Share on other sites More sharing options...
Dinar Posted Friday at 06:05 PM Share Posted Friday at 06:05 PM St James (STJ LN). Wealth management firm trading at 6x 2029 net income Link to comment Share on other sites More sharing options...
thowed Posted Friday at 09:10 PM Share Posted Friday at 09:10 PM 3 hours ago, Dinar said: St James (STJ LN). Wealth management firm trading at 6x 2029 net income I'm sure you've researched it properly, but I'd be cautious on this - they really are pretty crappy, even by the low standards of UK Wealth Managers. On the other hand, they charge outrageously high fees, so as long as not everyone leaves, maybe it will work. 1 Link to comment Share on other sites More sharing options...
Dinar Posted Friday at 10:26 PM Share Posted Friday at 10:26 PM 1 hour ago, thowed said: I'm sure you've researched it properly, but I'd be cautious on this - they really are pretty crappy, even by the low standards of UK Wealth Managers. On the other hand, they charge outrageously high fees, so as long as not everyone leaves, maybe it will work. Could you please elaborate? (I am personally shocked at the fees that people are willing to pay.) Crappy in what way? Thank you. Link to comment Share on other sites More sharing options...
thowed Posted Saturday at 06:04 PM Share Posted Saturday at 06:04 PM Sure - I should contextualise more, and add that obviously my opinion is just of one person. I think traditionally they were quite a big deal just in terms of size - so they got a lot of business by default - your lazy work pension (i.e. 401k) guy might use them, and your grandma, because she didn't know any better. So I imagine a fair bit of their business is legacy stuff like this. I looked at their funds once (they get various fund managers to do versions under a 'St James' brand) and the fees were even higher than the already high charges you expect. I think now the internet has provided transparency on these things, more and more people have woken up to it, so I would imagine fewer people will use them going forward. But I haven't looked at the numbers. Hope that makes sense. So basically crappy in the sense that if I had to suggest a Wealth Manager for a family member, they'd be bottom of the list. But of course, this doesn't necessarily make it a bad investment, depending on valuation, turnaround opportunities etc., which I don't know about. Link to comment Share on other sites More sharing options...
gfp Posted Monday at 05:04 PM Share Posted Monday at 05:04 PM On 9/6/2024 at 7:49 AM, gfp said: No I am betting on higher interest rates - this is just me putting on the position. Just a seasonal "farmer's almanac" type speculation that will naturally hedge some other positions I have ( I originally posted in the "buying" thread because I would prefer to express this trade with options but they aren't open for trading yet so I started with the TLT ) Back from Japan finally and going to close out this TLT short since it was always just a seasonal pattern trade. I suppose Trump win odds going up could push long yields up some more but I'm out. The trade worked out as expected Link to comment Share on other sites More sharing options...
WFF Posted yesterday at 02:04 AM Share Posted yesterday at 02:04 AM GYRO, piggy backing off Gregmal. IH, an education (think Khan Academy) app Link to comment Share on other sites More sharing options...
brobro777 Posted yesterday at 03:42 AM Share Posted yesterday at 03:42 AM GYRO seems like a decent play and best of all, lazy ass like me didn't have to work at all! Thanks man haha Link to comment Share on other sites More sharing options...
pricingpower Posted 14 hours ago Share Posted 14 hours ago On 10/17/2024 at 4:46 PM, mananainvesting said: Are there any weird tax implications with $GYRO ? Example: Like an LP? Anyone with a good understanding of whether $GYRO would generate UBTI / if one ends up getting double taxed in a US retirement account? From quick googling it seems like the paperwork burden around UBTI has gotten worse in recent years. I remember reading the VIC writeup on GYRO probably 5y ago where it was expected to liquidate in the next year as they were finalizing approvals. Link to comment Share on other sites More sharing options...
Saluki Posted 14 hours ago Share Posted 14 hours ago I'm on the fence about jumping back into SWBI so I picked up a couple of LEAPs on it. Capex for the new factory is complete and there is no debt so unless they raise the dividend again, there is plenty of cash going forward for buybacks. Small add to ENPH to bring me back to 1% weighting. Link to comment Share on other sites More sharing options...
Red Lion Posted 12 hours ago Share Posted 12 hours ago Bought JOE in my retirement account after trimming my largest position (OWL) after a recent runup. I've done well on JOE before in my taxable accounts, but sold around current prices to free up capital for some private real estate investments. It's been on my mind to start building back a position. Link to comment Share on other sites More sharing options...
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