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Investment Ideas / Re: GM - General Motors
« Last post by Gregmal on Today at 02:30:30 PM »
https://www.wsj.com/articles/gms-car-sharing-business-to-end-service-in-eight-of-its-17-north-american-cities-11558382917

Oh just another example of ambitious managements shunning boring old share repurchases to pursue some unnecessary business venture that ultimately incinerates capital...
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Investment Ideas / Re: TOO - Teekay Offshore Partners L.P.
« Last post by Foreign Tuffett on Today at 02:20:34 PM »
Guy "Big Swiss" Spier making it known via Twitter that's he TOO, isn't pleased with recent developments.

https://twitter.com/GSpier/status/1130499466769911808
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Berkshire Hathaway / Re: Berkshire Annual meeting - 50% a year?
« Last post by matjone on Today at 02:07:45 PM »
When they asked him about it years ago he said the return would go down dramatically as AUM went from 1M - 10M.  I take that to mean to look at things that are too tiny even for a $10M fund.  So look in small stuff, find something way out of line, and bet big, cause you're probably not gonna find them that often.

Look at the ethanex bankruptcy Thomas Braziel invested in,  Norilsk Nickel arb at kiddynamite's blog, mexican restaurants (CASA) which was a regular long from oddballstocks blog a few years ago (actually just read the whole oddballstocks blog archive).
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https://gsesafetyandsoundness.com/

For someone that's a casual observer, is there an easy place to learn what the Moelis plan recommended?   Any links to posts, blogs, etc?
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For someone that's a casual observer, is there an easy place to learn what the Moelis plan recommended?   Any links to posts, blogs, etc?   
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"Junior preferred conversion"

It's moelis isn't it. I mean it is though, isn't it.

Moelis has the large-scale view right, but that doesn't mean its numbers should be taken as gospel.

If the juniors insist on a conversion ratio around what we see in the market right now (about 4.5 to 1), then the IPO is done at $5.55 instead of $11.73 or $14.67. In that case, the prefs outperform the commons by a decent margin.

The moelis plan is brought by preferred holders so a large chunk of them are presumably ok with the conversion price.
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The reporters question on the stock did not have to include a response on conversion of jr pref at par.  Calabria brought that up on his own. 
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Berkshire Hathaway / Re: Another Charlie Classic For All Time!
« Last post by LongHaul on Today at 01:14:03 PM »
CM was interviewed (for 6 hours) by the WSJ:
https://www.wsj.com/articles/charlie-munger-unplugged-11556935195

If anyone knows how to get around the paywall i'd be happy to read the transcript.

The Munger article was brilliant.  Lots of nuggets of wisdom. 
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Seems pretty clear to me that Calabria, Mnuchin, Phillips have a plan in place that they want to execute on and are methodically letting out information in a continued stream. Each time one of them speaks they disclose a new tidbit of the plan, or expand on what has been said previously. While it is never a good idea to get too excited, each subsequent appearance/interview has info that overall is positive for preferred shareholders.


https://www.cnbc.com/video/2019/05/20/fhfa-chief-wont-wait-for-congress-to-take-frannie-and-freddie-public.html?&qsearchterm=mark%20calabria

wow

"Junior preferred conversion"

It's moelis isn't it. I mean it is though, isn't it.
If Calabria is talking to a reporter about par v conversion to common you know that is being discussed behind the scenes.

Boiling frog'd
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