Author Topic: Ask Packer - No Seriously, Ask Him Anything (AHA)!  (Read 272407 times)

RedDaruma

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Re: Ask Packer - No Seriously, Ask Him Anything (AHA)!
« Reply #590 on: July 06, 2018, 05:58:19 AM »
Hi Packer,

I noticed you own several companies with governance issues. Are there any good readings or case studies from which I can learn about the success/failure of corporate governance restructuring? TIA
RD


tombgrt

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Re: Ask Packer - No Seriously, Ask Him Anything (AHA)!
« Reply #591 on: July 09, 2018, 04:31:01 AM »
Hi Packer. Are you still holding Intralot? I sold out a few months back but am considering buying back in some again as it is much cheaper now (sold most around 1.35 around break even) and management is finally really buying back and cancelling shares at a decent rate and not just window dressing/signalling as they did before. Seems like they can buy back 2% per month. IGT sold off quite a bit last few weeks as well and doesn't seem expensive either. Is new EU regulation weighing on the sector?

Packer16

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Re: Ask Packer - No Seriously, Ask Him Anything (AHA)!
« Reply #592 on: July 11, 2018, 06:45:39 AM »
RD - As to corporate governance, I know of any book that has case studies.  The only area I look for is clues to changes in corporate governance over time from actions.  KT Corp is an example where the previous 2 CEOs had governance issues & the new guy has cleaned house, done good capital allocation & stayed clean in a situation where others did not - the corruption during the recent Park presidency.

tom - I am still holding & feeling the pain.  It appears there are rumors out there & the bonds have declined (not a good sign but I do not know the volume so I cannot tell if this is real price or not).  The backdrop of legalization of sports betting in the US should help them tremendously & they do still sell at significant discount to the comps & the recent capital allocation decision to buyback stock & retire is good.  We will see but the market is still skeptical these guys can create anything worth close to the comps.

Packer

tombgrt

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Re: Ask Packer - No Seriously, Ask Him Anything (AHA)!
« Reply #593 on: July 11, 2018, 08:00:47 AM »
Thanks Packer!

RedDaruma

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Re: Ask Packer - No Seriously, Ask Him Anything (AHA)!
« Reply #594 on: July 11, 2018, 01:23:51 PM »
Thank you, Packer. If you look at Japanese companies (big ones at least), there are many of them declaring the improvement in governance with the new CEO. Too bad, most of the cases they are promoted internally in the companies with bad culture in the first place. I have been looking at TIA as related to this but, considering the similarity b/w Europe and Japan, I think bringing outsiders (Genish, not to mention Elliot) would be encouraging.

Thanks again,
RD

tradevestor

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Re: Ask Packer - No Seriously, Ask Him Anything (AHA)!
« Reply #595 on: August 14, 2018, 06:18:42 PM »
Hi Packer,

Are you still following Ocean Yield? They are likely to lose the fpso contract, curious what your thoughts are.

Thanks.

Packer16

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Re: Ask Packer - No Seriously, Ask Him Anything (AHA)!
« Reply #596 on: August 17, 2018, 10:32:53 AM »
I still like them.  They have diversified so the FPSO loss will have a smaller impact.  They have added more tankers, container & dry bulk ships diversifying the ship base with more ship types & customers.  I have not invested primarily due to Norwegian withholding tax & having only IRA funds to invest.   

Packer

tradevestor

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Re: Ask Packer - No Seriously, Ask Him Anything (AHA)!
« Reply #597 on: August 17, 2018, 07:34:30 PM »
Thanks, Packer!