racemize Posted May 5, 2014 Share Posted May 5, 2014 I think last time this happened (October), it took a few days for it to finish the re-pricing. Hopefully, we see it up at $11 or so at some point. Link to comment Share on other sites More sharing options...
FFHWatcher Posted May 5, 2014 Share Posted May 5, 2014 CofB&F is starting to be like Jim Cramers shows. Moving illiquid stocks. Link to comment Share on other sites More sharing options...
racemize Posted May 5, 2014 Share Posted May 5, 2014 CofB&F is starting to be like Jim Cramers shows. Moving illiquid stocks. I don't think we're the ones moving it--we've been talking about the discount for several weeks with fairly specific numbers, and longer with vaguer ones. Link to comment Share on other sites More sharing options...
mcliu Posted May 5, 2014 Share Posted May 5, 2014 Thanks for the idea guys. I find it so odd that this would trade on BV instead of NAV! You would think more people are following Clarke after GA's Sherritt proxy. Link to comment Share on other sites More sharing options...
investor-man Posted May 5, 2014 Share Posted May 5, 2014 Bah! I established a position this morning, but only 2/3 of my desired sizing :( -- still waiting for some sells to become available in my account at Fidelity. In any case, thanks for the idea guys! I managed to get in before the jump! And hopefully I'll have more tomorrow before the prices comes up to match book value. Link to comment Share on other sites More sharing options...
Guest Dazel Posted May 5, 2014 Share Posted May 5, 2014 I repeat ssssssshhhhhhhhhh! The lower profile the better for now. Dazel Link to comment Share on other sites More sharing options...
original mungerville Posted May 5, 2014 Share Posted May 5, 2014 I repeat ssssssshhhhhhhhhh! The lower profile the better for now. Dazel Hi Dazel, Do you see this moving to book value? What has been the history of the stock price relative to book - ie has there been a "holding company discount" historically assigned or not? Link to comment Share on other sites More sharing options...
Myth465 Posted May 5, 2014 Share Posted May 5, 2014 Yes sorry Dazel should have listened Clarke is 33% of my port and I was moving money around to buy more. Really didnt think they would report until the 22nd of May. The Holloway move is a very good one. I own Holloway and buying Royal Host will work out very well. George's private investment arm moved from Terravest to Holloway and I followed.... We should put this thread on hold until those Debs are bought. Link to comment Share on other sites More sharing options...
Guest Dazel Posted May 5, 2014 Share Posted May 5, 2014 See you in three weeks...I will answer questions then...if you read the thread you will understand that my thesis is playing out. Dazel. Link to comment Share on other sites More sharing options...
original mungerville Posted May 6, 2014 Share Posted May 6, 2014 This story is very straight-forward. After a day or two, I am already in with a reasonable position on the assumption this goes to book or closer to book value (as book value grows through Sherritt and buybacks). Link to comment Share on other sites More sharing options...
Myth465 Posted May 6, 2014 Share Posted May 6, 2014 We may sell off because they lost the proxy. Which would be great.... Link to comment Share on other sites More sharing options...
EliG Posted May 7, 2014 Share Posted May 7, 2014 http://thechronicleherald.ca/business/1205611-armoyan-led-dissidents-fail-to-get-nominees-on-sherritt-board Armoyan said he has not ruled out suggesting more changes to the board and company next year but said he would do a few things differently, including upping his stake in the company, consulting with more institutional investors and getting a commitment from them to vote in his favour. The whole process has cost him about $1.5 million, he said. “I have to tell you, I’m not the brightest guy in the world. I’m not the smartest guy in the world but I’m the most persistent son of a bitch you’ll ever meet,” Armoyan said. Link to comment Share on other sites More sharing options...
phil_Buffett Posted May 8, 2014 Share Posted May 8, 2014 why it is going down so much? :o book value is growing big in comparison to share Price. whats wrong? Link to comment Share on other sites More sharing options...
doc75 Posted May 8, 2014 Share Posted May 8, 2014 why it is going down so much? :o book value is growing big in comparison to share Price. whats wrong? I assume it's debenture holders who converted to get discounted shares but don't want to hold the equity. Link to comment Share on other sites More sharing options...
snow pea Posted May 8, 2014 Share Posted May 8, 2014 That was also my suspicion. Link to comment Share on other sites More sharing options...
phil_Buffett Posted May 8, 2014 Share Posted May 8, 2014 why it is going down so much? :o book value is growing big in comparison to share Price. whats wrong? I assume it's debenture holders who converted to get discounted shares but don't want to hold the equity. thanks for your Explanation. hopefully they reach this year their book value :). then everything is fine for me Link to comment Share on other sites More sharing options...
Guest 50centdollars Posted May 8, 2014 Share Posted May 8, 2014 One of Clarke's largest holding SXP, was up 14% today. Link to comment Share on other sites More sharing options...
phil_Buffett Posted May 8, 2014 Share Posted May 8, 2014 One of Clarke's largest holding SXP, was up 14% today. and Clarke big down :D :D great combo Link to comment Share on other sites More sharing options...
doc75 Posted May 9, 2014 Share Posted May 9, 2014 I was curious to run the numbers after today's drop. Based on today's closing prices and the Royal Host sale (but excluding any additional purchases of Sherritt since quarter end), it looks like Clarke's public portfolio is up about 20M since end of Q1. Assuming full dilution of the remaining convertibles, that's an increase of more than 0.95 to book value over quarter end. Link to comment Share on other sites More sharing options...
racemize Posted May 9, 2014 Share Posted May 9, 2014 Assuming full dilution of the remaining convertibles, that's more than 0.95 of book value over the March figure. I'm not sure what you mean by "0.95 of book value over the March figure". Would you mind elaborating? Link to comment Share on other sites More sharing options...
mcliu Posted May 9, 2014 Share Posted May 9, 2014 I think he means bv increased by 0.95 since quarter end. Link to comment Share on other sites More sharing options...
doc75 Posted May 9, 2014 Share Posted May 9, 2014 I think he means bv increased by 0.95 since quarter end. Yes, that's what I meant. According to SEDI, George Armoyan no longer holds any Clarke shares, either individually or through his family trust, Geosam Capital. Geosam does have a big stake in Holloway, as does Midland Resources (Alex Shnaider's holding company). Myth: In your reading, what have you uncovered about Armoyan's holdings? Where is all his capital? Any explanation for him and Geosam selling out of Clarke back in 2012? Link to comment Share on other sites More sharing options...
original mungerville Posted May 9, 2014 Share Posted May 9, 2014 I own a lot....I suggest you check out the book value...after the Clarke trucking sale...too tired to give you a scenario...I did not know that Clarke was pushing a proxy vote a Sherritt who just sold it's royalty division to Altius another of my holdings. If people post I will correct and add...other than that...it is another buck for 40 cents..Armoyan owns 48% so he is aligned with shareholders... 5% yield...book value is mostly cash... Dazel. According to this post, he owns quite a bit. Which is it? Does Armoyan own 48% or own nothing directly/indirectly? Link to comment Share on other sites More sharing options...
Guest Dazel Posted May 9, 2014 Share Posted May 9, 2014 Quiet guys.... Link to comment Share on other sites More sharing options...
doc75 Posted May 9, 2014 Share Posted May 9, 2014 I own a lot....I suggest you check out the book value...after the Clarke trucking sale...too tired to give you a scenario...I did not know that Clarke was pushing a proxy vote a Sherritt who just sold it's royalty division to Altius another of my holdings. If people post I will correct and add...other than that...it is another buck for 40 cents..Armoyan owns 48% so he is aligned with shareholders... 5% yield...book value is mostly cash... Dazel. According to this post, he owns quite a bit. Which is it? Does Armoyan own 48% or own nothing directly/indirectly? My mistake. I read this article from 2012: http://thechronicleherald.ca/business/164124-armoyan-three-firms-may-sell-clarke-shares Then I was apparently blind when I read the April 2013 circular. As of that date he still controlled 48.5%. Link to comment Share on other sites More sharing options...
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