Parsad Posted December 21, 2009 Share Posted December 21, 2009 Filing today showing long-time value manager Mario Gabelli now owns 5.75% of Steak'n Shake! Cheers! http://www.sec.gov/Archives/edgar/data/93859/000080724909000696/sns_00.htm Link to comment Share on other sites More sharing options...
bargainman Posted December 22, 2009 Share Posted December 22, 2009 Notice that it's a D. I wonder what his intentions are? Link to comment Share on other sites More sharing options...
EdWatchesBoxing Posted December 24, 2009 Share Posted December 24, 2009 I recognized that name instantly! Gabelli won this poker game a few years ago. http://money.cnn.com/magazines/moneymag/moneymag_archive/2005/05/01/8257867/index.htm I've read this article a few times now. It was great to find out Bill Gross started out counting cards playing blackjack. It would have been great to have seen them play in person. I'm sure they'd be dead money against me. j/k ;) Link to comment Share on other sites More sharing options...
Guest ValueCarl Posted December 24, 2009 Share Posted December 24, 2009 Mario Gabelli, a Colombia grad and fellow Bronxite. Used to be a big investor in rural telecom including a large stake in Commonwealth Telephone (CTCO), also a Kiewit Diversified or D share control stake holding which got folded under neath LVLT when it was spun off circa 1998. Subsequently, (3) liquidated their CTCO holdings by necessity, and Mario made a killing as I recall. I don't watch cnbc often unless I feel like be entertained; however, I recall him having dropped out of the limelight regarding appearances there for some time including this period. This man is not immune to controversy. One can make their own judgments. Additionally, he was quite the full court, full press pumper of his ideas from what I recall. Often, he would foam at the corners of his mouth when opining about his PICKS! ;D Controversy and Related In March 2006, a judge awarded a "partial summary judgment" in favor of claims that Gabelli had unfairly prevented investors Frederick Mancheski and David Perlmutter from selling their shares in Gabelli Group Capital Partners at fair market prices.[6] In the ensuing settlement, Gabelli paid the two investors an estimated $100 million, including $80 million in GAMCO shares and approximately $20 million in cash.[6] Taylor's lawsuit said that Gabelli used more than twelve "sham" startup companies to meet the requirements of a small business applicant in the auctions and acquire the licenses at a small business discount, sometimes up to 25% off the high winning bid in the auction.[8] The lawsuit allegations claim Gabelli and the "sham" companies were fraudulent because Gabelli had de facto control over the companies and had wealth that far exceeded the ceiling of the small business criteria which would disqualify an applicant from the small business discount auctions. Thus, by filing an application with the Federal government, much like filing a tax return with the Internal Revenue Service, one is certifying the truth and authenticity contained in the document(s), which if false, is a potential Federal crime, never mind a cause for a civil lawsuit like the Taylor "whistleblower" lawsuit against Gabelli. The suit was put under seal for years and kept silent while the plaintiff and attorneys pursued their case, the government and Justice Department stood on the sideline and did not take up the suit for the American public. Little information about the quiet suit reached the media, in a time of Enron scandal in the headlines, even though the suit sought almost half one billion U.S. dollars in damages from Gabelli and the defendants. The "whistleblower" actually was an attorney who once worked in the telecommmnications business for Gabelli companys' competitor Adelphia. http://en.wikipedia.org/wiki/Mario_Gabelli Link to comment Share on other sites More sharing options...
rkbabang Posted January 6, 2010 Share Posted January 6, 2010 Looks like he's still buying: http://www.sec.gov/Archives/edgar/data/93859/000080724910000007/sns_01.htm --Eric Link to comment Share on other sites More sharing options...
ragnarisapirate Posted January 6, 2010 Share Posted January 6, 2010 Is there a squeezing sound that I am beginning to hear? ;D Link to comment Share on other sites More sharing options...
ragnarisapirate Posted January 8, 2010 Share Posted January 8, 2010 And, the buying continues... http://yahoo.brand.edgar-online.com/displayfilinginfo.aspx?FilingID=6978458-1802-69124&type=sect&TabIndex=2&companyid=11049&ppu=%252fdefault.aspx%253fcompanyid%253d11049 When I was looking as SNS's yahoo finance page, I saw that the 1 year target est is apparently $120/shr... pretty crazy, as it is not only well below book, but well under 3x c/f! Link to comment Share on other sites More sharing options...
Daytripper Posted January 9, 2010 Share Posted January 9, 2010 Hello everybody, I'm new to the board. I've been lurking for the past few weeks, this is my first post. Maybe a little off-topic, I apologize if this is so. I've been reading through all of the messages (ahem) posted on Yahoo about SNS lately. From what I've been able to pick out from all of the "trash", there are several parties that have taken naked short positions against SNS. The price of the shares lately seems to confirm their a raid against the stock. It is really gratifying to see Gabelli stepping up and buying weakness, and I'm sure that there many others. I have had only limited experiences shorting stocks, and while a few of these shorts may be good at what they do, isn't shorting something like SNS extraordinarily risky vs the potential return (high price, small float)??? Thanks.......Tom Link to comment Share on other sites More sharing options...
ragnarisapirate Posted January 9, 2010 Share Posted January 9, 2010 It is really gratifying to see Gabelli stepping up and buying weakness, and I'm sure that there many others. I have had only limited experiences shorting stocks, and while a few of these shorts may be good at what they do, isn't shorting something like SNS extraordinarily risky vs the potential return (high price, small float)??? What specific stuff can you give to say that it is being attacked by naked shorts? also, where do you get that SNS is priced highly? Link to comment Share on other sites More sharing options...
Daytripper Posted January 9, 2010 Share Posted January 9, 2010 Disclaimer - IMHO the SNS message board at Yahoo usually doesn't offer a lot of value or legitimacy. I have a small long position in SNS. I may add more. The initial buy was to get a feel for the stock (I don't paper-trade). My statement about the "high price" of SNS was perhaps a poor choice of words. What I meant to refer to was the dollar price of the shares, and not the relative value of the shares. I do not believe that SNS is overpriced. Lately there have been a number of individuals on Yahoo claiming to be short SNS. It appears to be a concerted action, that was started early this week (one poster even stated the day the raid would begin). I have "no specific information" other than the reading the messages that have been posted this week. Thanks......Tom Link to comment Share on other sites More sharing options...
Parsad Posted January 9, 2010 Author Share Posted January 9, 2010 Hi Tom, You may have a legitimate concern, but it would be completely foolhardy for anyone to short a company that has $50M+ in cash, and virtually no debt outside of long-term leases. Much of the noise is probably coming from people who were shorting this stock earlier last year, and are trying to recoup those losses. They played a fool's game and lost. Cheers! Link to comment Share on other sites More sharing options...
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