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Thursday, July 27, 2017

More questions at FranklinCovey $FC

Bill Ackman coined (or perhaps stole, IDK) the “return-on-invested-brain-damage” calculation. His basic thought is to figure out what the potential return from an investment is and weigh it against the effort and complexity required to unlock that value. If it’s a super complex and difficult situation with limited return, pass. If it’s massively difficult but the upside is huge, go for it.

Tuesday, July 25, 2017

Some Thoughts on Stock Dilution Part 2 $RLJE

Note: this is part two in a series that started discussing stock dilution and Turning Point Brands (TPB); please see part 1 here.

Some Thoughts on Stock Dilution Part 1 $TPB

Note: this article started out as one article, but I decided to split it into two separate articles and link the two of them to 1) make it easier to link to specific ideas in the future, 2) break up what was becoming a long article, and 3) because #pageviews. You can find Part 2 here.

Thursday, July 13, 2017

Brave deeper into the Liberty complex $BATRA

I’ve got a few other companies I wanted to write about, but given their shareholder webcast is early next week, my last post was on LVNTA (which I am very long), a tweet on them drew a nice response, and I am trying to convince Greg Maffei to let me race the Freeze at the next shareholder meeting, I thought now was as good a time as any to talk about Liberty Braves (BATRA/BATRK; disclosure: long).

Thursday, July 6, 2017

Liberty Ventures GCI merger set to unlock significant value $LVNTA $GNCMA

  • Liberty Ventures (LVNTA) trades at a deep discount to net asset value (NAV)
  • NAV is certainly understated
  • After the GCI deal goes through, LVNTA should become a share repurchase machine and will likely be acquired at a nice premium in the next few years