Wednesday, March 21, 2018
I was swapping thoughts back and forth with a few people on Comcast (disclosure: long) and the cable industry in general last night and thought I'd put some pen to paper.
Posted by Yet Another Value Blogger at 9:27 AM
Monday, March 19, 2018
In my annual letter, I included a section on finding opportunities to take advantage of the rise of indexation. I know that simply saying “we are taking advantage of increased indexation” is a bit of a nebulous statement and something that almost every small / value fund manager says; in general, they simply mean “we invest in companies that aren’t in the indices.” That’s certainly true to a large extent for me too, but I think there are a few investments we’ve made that are designed specifically to take advantage of the rise of indexation that separates us from such broad stock talk. To show that, I wanted to highlight a specific example to show how we look to take advantage of indexation, so let me present my favorite “take advantage of the index” idea today: Lennar share class arbitrage (disclosure: Long Lennar B shares, short Lennar A shares).
Tuesday, February 27, 2018
Tuesday, February 20, 2018
Late last year I posted a two part idea (part 1 and part 2) on the YUME / RTHM (disclosure: long) merger arbitrage. The merger closed earlier this month and I’ve got a few new thoughts so I wanted to do an update post. This update will focus on two things: first, some new fundamental info we got on the combined company, and then some thoughts around just how crazy the trading dynamics were heading into the end of the merger.
Monday, February 12, 2018
Note: I wrote this LVNTA / GNCMA (disclosure: I'm long both) update in late September; however, I didn’t want to post it till the shareholder votes went through. As we inch towards the deal closing / as hordes of investors post the idea on Sumzero (and I’m sure posts on VIC, Seekingalpha, etc. are coming soon), I figured now was as good a time as any to #releasethepost. I’ve mainly left the original post unchanged (except for updating some stock prices) and have included an update insert when I’m adding something I think is new / relevant. I believe everything in the post should be fully up to date but there is a chance a stale number or two slipped through.