matjone Posted August 13, 2013 Share Posted August 13, 2013 They are doing a tender offer. They are using cash and it has an odd lot provision. For those of you who dabble in these things, I wonder if this is the kind you'd bet on? It doesn't have the ridiculous annualized ROI like some of the other ones have, but it is decent. Thanks in advance Link to comment Share on other sites More sharing options...
LC Posted August 14, 2013 Share Posted August 14, 2013 I would be but not enough ROI to justify tying up 3k+ Link to comment Share on other sites More sharing options...
writser Posted August 14, 2013 Share Posted August 14, 2013 Hmm, if you bought 99 shares yesterday morning you would make roughly 3% within a month. Seemed very decent, count me in. It's small, but fun :) Link to comment Share on other sites More sharing options...
writser Posted August 21, 2013 Share Posted August 21, 2013 Update: I suffered from premature accumulation .. Looks like a nice opportunity now. Link to comment Share on other sites More sharing options...
BG2008 Posted August 21, 2013 Share Posted August 21, 2013 Words are that companies are starting to crack down on these odd lots because "investors" have been taking advantage of them. Rumor has it that they will be looking at address, tax ids, and trading authorizations to make sure that you're not accumulating these in multiple accounts. In the past, people has had success with multiple tenders in multiple accounts. I would probably refrain from that. Also keep in mind that if you and your spouse/kids use the same address, probably not a good idea to both tender. Link to comment Share on other sites More sharing options...
writser Posted August 21, 2013 Share Posted August 21, 2013 Please define "words are" :) . I've seen a couple of CEF buybacks state specifically that they do NOT have odd-lot provisions anymore. Probably thanks to Chris DeMuth who has been spamming these opportunities on the frontpage of SeekingAlpha. But so far I've never had any problems with odd-lot trades. Link to comment Share on other sites More sharing options...
Gopinath Posted August 21, 2013 Share Posted August 21, 2013 You guys are great for letting me know about this opportunity. Its a small change, but it is still worth it! Link to comment Share on other sites More sharing options...
Chris DeMuth Jr Posted August 31, 2013 Share Posted August 31, 2013 Sorry if I goofed these up by writing about them. I am setting up a small internal fund for employees only to do illiquid small investments instead of writing about them in the future, so that should lessen any impact that I might have. Link to comment Share on other sites More sharing options...
matjone Posted September 1, 2013 Author Share Posted September 1, 2013 I don't think anyone is too upset. I just look at it as something that is good while it lasts. You could argue that it's a ridiculous way to make money and I wouldn't really have a counterargument. Not looking down on anyone or anything, and I participated in this one. Link to comment Share on other sites More sharing options...
writser Posted September 2, 2013 Share Posted September 2, 2013 warning, long rant.. Feel free to ignore ;) Yeah, it's good while it lasts. But, (imho) why bother sharing it with people who are too lazy to do the research in the first place! It's not like it is extremely difficult to keep track of tender offers yourself. I've been very lucky to participate in another bonanza, online casino bonus whoring. That was also a nice source of supplementary income until some people decided it was a great idea to make websites that explained exactly how to participate (of course with affiliate links everywhere) and started selling Blackjack bots etc. Forcing the online casino's to change the T&C of their lucrative bonus offers and killing the whole business. Same thing happened a long time ago with blackjack card counting I guess. :) Just hoping that's not going to happen with the odd-lot tender offers, thrift conversions (I have no clue about these yet) and whatever else obscure stuff is out there. Let the people who are truly interested in it figure it out themselves. Part of the fun. I see another forum member here promoting his (paid) website that will keep you up-to-date on all exploitable corporate actions. This is also something that somehow feels wrong to me. Basically trying to make a little extra money at the expense of people who figured it out and keep the idea to themselves. But on the other hand, not sure if I can take the moral highground since everybody participating is basically trying to game the system! Link to comment Share on other sites More sharing options...
Olmsted Posted September 4, 2013 Share Posted September 4, 2013 One datapoint - I was unable to tender with an odd-lot preference for multiple accounts this morning. Something in the broker instructions. At least I was stopped now instead of being surprised by proration later! Link to comment Share on other sites More sharing options...
LC Posted September 4, 2013 Share Posted September 4, 2013 One datapoint - I was unable to tender with an odd-lot preference for multiple accounts this morning. Something in the broker instructions. At least I was stopped now instead of being surprised by proration later! Interesting, did your broker actually give you an explanation? Link to comment Share on other sites More sharing options...
watsa_is_a_randian_hero Posted September 4, 2013 Share Posted September 4, 2013 One datapoint - I was unable to tender with an odd-lot preference for multiple accounts this morning. Something in the broker instructions. At least I was stopped now instead of being surprised by proration later! What broker? Link to comment Share on other sites More sharing options...
Ghost Posted September 18, 2013 Share Posted September 18, 2013 Got my cash today. Link to comment Share on other sites More sharing options...
Olmsted Posted September 19, 2013 Share Posted September 19, 2013 One datapoint - I was unable to tender with an odd-lot preference for multiple accounts this morning. Something in the broker instructions. At least I was stopped now instead of being surprised by proration later! Interesting, did your broker actually give you an explanation? Sorry for the delay in answering, somehow I missed this. Not much of an explanation - only that something was preventing them from selecting the odd-lot provision in their system. Same tax id, address, etc. was the speculation. What broker? Fido Link to comment Share on other sites More sharing options...
Guest wellmont Posted September 19, 2013 Share Posted September 19, 2013 One datapoint - I was unable to tender with an odd-lot preference for multiple accounts this morning. Something in the broker instructions. At least I was stopped now instead of being surprised by proration later! What broker? td ameritrade is cracking down on this. can't use multiple accounts. Link to comment Share on other sites More sharing options...
BG2008 Posted September 19, 2013 Share Posted September 19, 2013 Told you so "Words are that companies are starting to crack down on these odd lots because "investors" have been taking advantage of them. Rumor has it that they will be looking at address, tax ids, and trading authorizations to make sure that you're not accumulating these in multiple accounts. In the past, people has had success with multiple tenders in multiple accounts. I would probably refrain from that. Also keep in mind that if you and your spouse/kids use the same address, probably not a good idea to both tender." Link to comment Share on other sites More sharing options...
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