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Not been around much Mat, wasted years on this shiiite. I took a loss and got out a while ago. If this 10 bagged from here I wouldn't give a monkey's tuppence but still hope lths get some kind of a return. Merry Christmas.
Lots of interesting stuff going on with PSH, not that anyone's watching it here lol.
Share buyback, interest rate hedge looking good, SPARC getting the OK and now Bill Ackman touting for a private company to take public and Elon Musk's X being mentioned as a company BA would be interested in. Yet still the discount persists at 36/37%.
From an attendee on twitter......
My most important takeaway was @BillAckman saying he has worked extensively on finding ways to migrate $PSH to the US. Re the Invst Co Act, he needs to find a large US target. $HHC is too small for this but could be part of the solution.
Energy hedges brought 0.5% of NAV this year. Bill believes energy prices could go much higher and retains hedges.
Believes the 30Y yield is too low and is playing this via derivatives
https://yetanothervalueblog.substack.com/p/james-elbaor-is-investing-in-bill?r=185xp6&s=r&utm_campaign=post&utm_medium=email
Transcript and video.