LongHaul Posted May 6, 2016 Share Posted May 6, 2016 If you read carefully in the email he says "I believe Jorge Paulo personally became a shareholder", so not exactly confirming it. But nevertheless idiotic to even bring it up that way hoping to bait the master into a meeting. Ackman meant he believes that the meeting was the reason that Jorge Paulo took a stake. He wasn't really questioning or guessing whether the stake exists. If you read carefully the second email to Charlie, he is more clear with his wording: http://i.imgur.com/UauhHrG.png So did Ackman lie about Jorge Paulo Lemann buying Valeant in the email to Buffett? Buffett said in an interview ( see ~2:15 in http://video.cnbc.com/gallery/?video=3000514187&play=1) that it was a mistake for Ackman to say that Jorge Paulo had bought it. Buffett is rarely wrong about such factual matters. I wonder if Lemann did buy some or what really happened. Link to comment Share on other sites More sharing options...
Ballinvarosig Investors Posted May 7, 2016 Share Posted May 7, 2016 A whole pile of Valeant e-mail's have been batched up, including Ackman's. I am amazed anyone would want to give that man a dime to manage. https://senaging.app.box.com/s/0853lykekrlogev4uuwma6md7hdb97z0 Link to comment Share on other sites More sharing options...
ccplz Posted May 7, 2016 Share Posted May 7, 2016 Interesting emails. Thanks for the link. Link to comment Share on other sites More sharing options...
johnny Posted May 7, 2016 Share Posted May 7, 2016 LOL my favorite so far is where Ackman is asking Pearson to run all the PRs through him first, and in exchange, he makes this offer: I will help on the other side by minimizing if not eliminating any public statements I make about Valeant. Sincerely, Bill Pretty self aware, huh? Link to comment Share on other sites More sharing options...
johnny Posted May 7, 2016 Share Posted May 7, 2016 "My only comment on the call is that you sounded a little defensive on the price increase question. If you want I would be happy to share thoughts on how you could have answered that a little differently. That said this is a very minor point." - Bill Ackman, July 23, 2015 Link to comment Share on other sites More sharing options...
Larry Posted May 7, 2016 Share Posted May 7, 2016 Thank you for the link, very interesting. Link to comment Share on other sites More sharing options...
rb Posted May 8, 2016 Share Posted May 8, 2016 Bit of a preface, this is a bad post, i have a filthy mouth (soap didn't work) so if you're sensitive you should use sunglasses. Thanks for the link. It's really interesting read so props. As others mentioned, I find the dynamic in the emails really interesting. Ackman: Hey Mike! Nice PR strategy you get there. Shame if something were to happen to it!. Maybe you should run all your press releases by me first! As I have mentioned in a previous rant on this thread, it is impressive to see to all these "tough" guys that love using militaristic language, they do sure sound like a bunch of like a bunch of wimps. Half of the emails are basically a collection of these guys cupping each others balls trying to reassure one another that nobody is speaking ill of them. They're more sensitive then a bunch of high school girls in a talent show. Someone of the BRK meeting thread suggested that we should have learned analysts like Ackman asking questions of the buffett. But I'm sorry, i'd rather have the German guy who's making a speech about his CDS spread prowess asking questions than this ass clown but that's just me. Link to comment Share on other sites More sharing options...
Mephistopheles Posted May 8, 2016 Share Posted May 8, 2016 Someone of the BRK meeting thread suggested that we should have learned analysts like Ackman asking questions of the buffett. But I'm sorry, i'd rather have the German guy who's making a speech about his CDS spread prowess asking questions than this ass clown but that's just me. Haha that was me. I still think Ackman is a great investor, but with a major blind spot that is his ego. Nonetheless he'd make for more interesting questions than the research analysts imo. Link to comment Share on other sites More sharing options...
sae85400 Posted May 9, 2016 Share Posted May 9, 2016 VRX reiterates EPS of $1.30-1.55 vs. $1.37 Capital IQ Consensus Estimate; reiterates Q1 revs guidance of $2.3-2.4 bln vs. $2.33 bln Capital IQ Consensus Estimate VRX also announced that it expects to file its Form 10-Q for the quarter ended March 31, 2016 with the Securities and Exchange Commission and the Canadian Securities Regulators on or before June 10, 2016, well in advance of the July 31, 2016 deadline contemplated in the company's amended Credit Agreement VRX will provide details regarding its conference call and live webcast to discuss first quarter 2016 financial results in due course. In addition, VRX expects that quarterly filings for the quarter ending June 30, 2016 and thereafter will be filed with the Securities and Exchange Commission and the Canadian Securities Regulators on a timely basis under the applicable rules. Link to comment Share on other sites More sharing options...
LongHaul Posted May 9, 2016 Share Posted May 9, 2016 Interesting email from Ackman Page 474 of the VRX emails/disclosures 10/25/2015 "Investors are principally concerned about whether the company has tried or is currently trying to hide or cover something up. Investors fear fraud. Valeant is a very complicated story with complicated non-GAAP accounting. The vast majority of investors always have an insecurity about something they might not know or understand and the short seller played into that insecurity. We are very comfortable with the company and the character and honesty of the team. I am sure the same is true for your other shareholders. Good luck tomorrow! Bill" Link to comment Share on other sites More sharing options...
Phaceliacapital Posted May 11, 2016 Share Posted May 11, 2016 For those that are not yet bullish.... Link to comment Share on other sites More sharing options...
Jurgis Posted May 11, 2016 Share Posted May 11, 2016 I agree with Barron's stance that hiring Joe Papa under the new contract is pretty much replacing Mike Pearson with ... Mike Pearson. Instead of one CEO incentivized to squeeze profits in any conceivable way, you get another CEO incentivized the same and with past history of the same behavior. Not saying that the new Mike Pearson will necessarily do badly. But caveat investor. ;) Link to comment Share on other sites More sharing options...
stahleyp Posted May 12, 2016 Share Posted May 12, 2016 anyone else notice that Chou bought a stake per morningstar (CHOEX)? Link to comment Share on other sites More sharing options...
rb Posted May 12, 2016 Share Posted May 12, 2016 This is interesting. A couple of interviews on CNBC and you have renewed interest. Out of this whole saga, one of the things that came out is that those people are crooks. So they've replaced the head crook, but the others are still there. I am fascinated by the way in which people are eagerly willing to partner and work with crooks when there's just a whiff of money to be made. Hasn't history proven time and again that this is how crooks operate? Create whiffs of profits to attract the hungry? Link to comment Share on other sites More sharing options...
Investor20 Posted May 12, 2016 Share Posted May 12, 2016 I was about to ask the same. Compared to something that banks and accountants did during housing crisis which is more conceivably illegal, what is so crooked about this? Link to comment Share on other sites More sharing options...
Ballinvarosig Investors Posted May 12, 2016 Share Posted May 12, 2016 anyone else notice that Chou bought a stake per morningstar (CHOEX)? Yep, I am not surprised either. Valeant is a classic Chou stock. It is despised but is sitting on assets where the sum on the parts are worth more than the market cap (even after debt is stripped out). Link to comment Share on other sites More sharing options...
ccplz Posted May 12, 2016 Share Posted May 12, 2016 anyone else notice that Chou bought a stake per morningstar (CHOEX)? Yep, I am not surprised either. Valeant is a classic Chou stock. It is despised but is sitting on assets where the sum on the parts are worth more than the market cap (even after debt is stripped out). 'assets where the sum on the parts are worth more than the market cap (even after debt is stripped out).' How did you get that? Link to comment Share on other sites More sharing options...
siddharth18 Posted May 12, 2016 Share Posted May 12, 2016 For those that are not yet bullish.... I love Jim Cramer playing up his Jewishness in this one. Great entertainer. At 4:30 in the video, Cramer brings up the fact that he stands to receive ~$65M if he meets certain targets and asks if it's about the money... Joseph Papa: *laughs*...."Jim this is not about the money." Link to comment Share on other sites More sharing options...
Gamecock-YT Posted May 13, 2016 Share Posted May 13, 2016 Anyone: "It's not about the money." Translation: "It's all about the money." Link to comment Share on other sites More sharing options...
zenith Posted May 13, 2016 Share Posted May 13, 2016 Chou buys new stake in the company, about a 6% stake, hopefully he bought it after March 15th! Link to comment Share on other sites More sharing options...
aws Posted May 13, 2016 Share Posted May 13, 2016 Chou Associates' NAV dropped 5% on the 15th, so I'd guess not. Rumor this morning that KKR offered $22B for B&L, but not taken very seriously. http://www.benzinga.com/news/16/05/7979629/valeant-shares-spiking-traders-attribute-move-to-comments-from-salt-conference-th Link to comment Share on other sites More sharing options...
Liberty Posted May 17, 2016 Share Posted May 17, 2016 Andrew Left is now long Valeant. Beautiful. http://www.bloomberg.com/news/articles/2016-05-16/short-seller-andrew-left-says-valeant-s-a-buy-as-big-funds-exit Link to comment Share on other sites More sharing options...
Eye4Valu Posted May 17, 2016 Share Posted May 17, 2016 Out of curiosity, had anyone heard of Andrew Left and Citron prior to Valeant? His comments moved the stock today. Nothing Ackman has said has moved it anywhere but down. Then Left comes out with his long "trade" and the stock pops. Is he someone worth paying attention to? Or just talking his book? Link to comment Share on other sites More sharing options...
Picasso Posted May 17, 2016 Share Posted May 17, 2016 Not exactly the white knight that Valeant shareholders were looking for. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted May 17, 2016 Share Posted May 17, 2016 Out of curiosity, had anyone heard of Andrew Left and Citron prior to Valeant? His comments moved the stock today. Nothing Ackman has said has moved it anywhere but down. Then Left comes out with his long "trade" and the stock pops. Is he someone worth paying attention to? Or just talking his book? I think he was one of the most vocal short sellers when Plug Inc skyrocketed couple years ago. I heard of him from my firsthand experience with Chinese reverse mergers back in 2010/2011. I think that's where he really started making a name for himself in publicly shorting and calling out the management of those companies. Link to comment Share on other sites More sharing options...
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