Author Topic: BH - Biglari Holdings  (Read 1313828 times)

rayfinkle

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Re: BH - Biglari Holdings
« Reply #590 on: July 16, 2014, 08:55:50 AM »
Geo no news yet on that.

Ok, thank you!
I have made money before with this kind of offering... and I look foreward to making money again! ;)

Gio

Looking back at the prior rights offering:
-The first S-3 was published on 2/5/13
-there were five total amendments published, with the final one being on 8/20/13
-Amendment three released (7/19/13) released the size of the offering in $$$ but not the max unit price
-Amendment 4 (8/16) increased the offering amount slightly (~$5M) and disclosed the offering price of $265/share and set the cutoff for holders of record at 8/27/13
-The transaction occurred in September 2013
-Following this timeline suggests an early 2015 timing, with the date

I'll compare the final 2013 prospectus with this latest version to see what variances exist. Geo--PM me your email address pls.


wachtwoord

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Re: BH - Biglari Holdings
« Reply #591 on: July 16, 2014, 11:08:13 AM »
Geo--PM me your email address pls.

Ahahahahahah!!!!... As if my e-mail were top-secret...  ;D ;D

g.franchi
AT
agenziamilanostrutture
DOT
it

Cheers,

Gio

No but this page is freely accessible so posting it here like this will result in you getting more spam. I suggest you make it less readable or remove it ;)
"Beware of he who would deny you access to information, for in his heart he dreams himself your master"

giofranchi

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Re: BH - Biglari Holdings
« Reply #592 on: July 17, 2014, 12:40:17 AM »
No but this page is freely accessible so posting it here like this will result in you getting more spam. I suggest you make it less readable or remove it ;)

Well, I guess you are right! And I am removing it... ;)

Gio
Portfolio: AAPL, AMZN, BABA, BOSS, BRK.B, FB, FFH, FIH.U, FINX, FWONA, GOOG, IBB, JPM, LBRDA, MKL, NKE, QQQ, SFTBF, SMH, TCEHY, V, XBI, XT

giofranchi

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Re: BH - Biglari Holdings
« Reply #593 on: July 17, 2014, 07:41:16 AM »
Gio  - while you may certainly be rational in your evaluation of BH, (wo)man is not a rational animal. In my mental model, two forces are at play here - a great story and inertia.

Biglari was a great story and still is to a great extent. Kudos to Biglari to build it up and play it that way.

Hi Shalab!
I have not said I am rational… Instead, I have just said I will take the evidence as it comes… To be rational, and to take the evidence as it comes, are very different things: the former requires much self-control and clearness of thought… The latter requires only the ability to read numbers…
So, where is the catch? Well usually, if you wait for performance to be evident, you might run the risk of losing money (if and when that performance disappoints). But here is where valuation comes into play: today BH’s market capitalization is a low enough multiple of BV that, even if Mr. Biglari starts making unsound business decisions, I don’t believe it will contract much further… Therefore, BH’s stock price actually gives us the luxury to wait for that evidence… In other words, expectations already are that Mr. Biglari is going to make mistakes in the future.

BTW - I am looking forward to "Gio Holdings" to be listed  ;D.

Ahahahahah!!! Thank you! But I am not that ambitious… I love what I do… Wouldn’t do anything else… I am lucky enough to be financially independent… I have compounded my firm’s capital at 20% annual for the last 3 years, and this year I am up 10%... Despite my "ex" very large investment in LRE, that has cost me money this year… I know I probably won’t succeed in keeping up such a good performance for long… But I also believe I can do sufficiently well, even without other people’s money… My shareholders are my family… Why should I welcome the headache to accept others?

Cheers,

Gio
« Last Edit: July 17, 2014, 07:48:24 AM by giofranchi »
Portfolio: AAPL, AMZN, BABA, BOSS, BRK.B, FB, FFH, FIH.U, FINX, FWONA, GOOG, IBB, JPM, LBRDA, MKL, NKE, QQQ, SFTBF, SMH, TCEHY, V, XBI, XT

peter1234

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Re: BH - Biglari Holdings
« Reply #594 on: July 19, 2014, 10:01:03 PM »
I learn a lot from Gio and everyone's thoughtful comments on this board. If Gio was running money, we might never have heard of him.

 ;D

giofranchi

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Re: BH - Biglari Holdings
« Reply #595 on: July 20, 2014, 01:18:51 AM »
Thank you Peter! Too kind of you! But I understand what shalab means.
Yet, once again, let’s try to be rational:
First: as an entrepreneur I run businesses which require very little or no capital at all… therefore, if I were to receive more capital trough an IPO of my company, I sincerely wouldn’t know how to use it…
Second: as an investor I simply don’t think my track record is good enough to manage other people’s money…
So basically, besides the fact I don’t welcome the headache a public company would bring, which is true, I also don’t think the business proposition I could offer is interesting enough. ;)

Gio
Portfolio: AAPL, AMZN, BABA, BOSS, BRK.B, FB, FFH, FIH.U, FINX, FWONA, GOOG, IBB, JPM, LBRDA, MKL, NKE, QQQ, SFTBF, SMH, TCEHY, V, XBI, XT

cobafdek

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Re: BH - Biglari Holdings
« Reply #596 on: July 20, 2014, 07:18:57 AM »

So basically, besides the fact I don’t welcome the headache a public company would bring, which is true, I also don’t think the business proposition I could offer is interesting enough. ;)

Gio


I would pay to get regular Gio-style commentary in partnership or shareholder letters, written in that authentic inimitable Gio prose.  That would be a refreshing change from the fake wannabe-Buffett-knockoff BH letters.  For now, I am grateful to get Gio commentary for free here, even if there were no emoticons!
« Last Edit: July 20, 2014, 07:25:22 AM by cobafdek »

giofranchi

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Re: BH - Biglari Holdings
« Reply #597 on: July 20, 2014, 07:27:30 AM »
I would pay to get regular Gio-style commentary in partnership or shareholder letters, written in that authentic inimitable Gio prose. 

Ahahahah!!! Hey, it is really too flattering! And I don’t deserve that! Anyway, thank you so much! :)

Cheers,

Gio
Portfolio: AAPL, AMZN, BABA, BOSS, BRK.B, FB, FFH, FIH.U, FINX, FWONA, GOOG, IBB, JPM, LBRDA, MKL, NKE, QQQ, SFTBF, SMH, TCEHY, V, XBI, XT

bargainman

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Re: BH - Biglari Holdings
« Reply #598 on: July 20, 2014, 04:44:18 PM »
just  for kicks, here is my future prediction for an acquisition by Bigs ;0)

http://us.bulgari.com

rkbabang

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Re: BH - Biglari Holdings
« Reply #599 on: July 21, 2014, 07:00:34 AM »
just  for kicks, here is my future prediction for an acquisition by Bigs ;0)

http://us.bulgari.com

Accompanied by a slight name change, of course, for which he will charge a substantial fee.