Member Info for WolfofWarks

One only needs to do the most basic of research to understand that sophisticated investors do not hold positions via retail brokers platforms. It doesn’t need back up or evidence just the application of a bit of common sense.

This share wouldn’t be held nearly 4% short by big institutions if the only fees that were on available were at the extortionate rates that imulhare is portraying are on offer.

His claim that the figures are from interactive broker is not even correct. The site the figures come from clearly states at the bottom of the page that that they have no affiliation with them. The figures come from IEX.

It’s like when people post share register information from simply Wall Street. It’s algorithmic - quite often either incorrect or out of date.

So imulhare portrays a picture where shorters are getting nailed on fees, if this was the case some of the most financially astute people wouldn’t be holding their current positions.

You're projecting now Elvis.

I'm ending this because if you haven't realised by now that you have refuted your very own point then there really is little hope.

No more now because as Hexam said before, it's god damn boring ....

Elvis - pay attention.

In the very links you posted:

‘ IAS 38 sets out the criteria for recognising and measuring intangible assets and requires disclosures about them. An intangible asset is an identifiable non-monetary asset without physical substance. Such an asset is identifiable when it is separable, or when it arises from contractual or other legal rights. Separable assets can be sold, transferred, licensed, etc. Examples of intangible assets include computer software, licences, trademarks, patents, films, copyrights and import quotas.’

And then:

‘Goodwill acquired in a business combination is accounted for in accordance with IFRS 3 and is outside the scope of IAS 38.’

And the most important part:

‘Internally generated goodwill is within the scope of IAS 38 but is not recognised as an asset because it is not an identifiable resource.’

The header of the dentist link you posted:

‘ The value of goodwill when purchasing a new practice’

You’ve gone back to being an absolute clown again.

Glen’s not processed as dividends though are they. You knock them of the purchase price.

‘ I’m totally aware what goodwill is’

I’ve not seen one piece of evidence to support this claim, especially since a couple of months ago you were trying to tell us all you were an accountant.

The fair value adjustment is simply the difference between the market value at the point of acquisition, which if Regal was an inc. would be its market cap determined by its closing share price and what the actual net book value would have been of its net assets.

Tell me do you think a company that writes its goodwill off over ten years vs a five year write down has anymore bargaining power. Also have you considered that the value of $4b goodwill is likely more than CW will be able to achieve from a sale for the entire group.

Also, in relation to the purchase of regal given what has happened since does that goodwill have any relatable value at all to its value within the group?

‘@WolfofWarks
Who are hedge funds and professional investors placing shorts with & what have their borrow fees been over the last 12 months? I want verifiable data, not supposition.’

I’d bet my bottom boll ock it’s not interactive investors.

Do you honestly believe professional investors and hedge funds would enter into any transaction with such a high fee?

Can you tell me how your average PI goes about placing a proper short on stocks without being a HNW individual and which brokers in the UK are currently offering this service? I’m not talking about a spread bet or CFD either.

‘ Like I indicated lm, when Wolff is challenged to come up with the goods, salient or credible responses, he is left well and truly short (no pun intended) and with his pants firmly round his ankles and unable to pull them up!’

Or I am working ….

If you think hedge funds and professional investors are using interactive brokers to place short positions then you’re off your rocker!

I suggest you go with your first suggestion and dig your IFRS book out.

I can’t be bothered no more I’m literally losing the will to live.

They don’t run the companies they buy. They put a management team in place.

Elvis - your whole theory is that goodwill is a bargaining tool, it isn’t it’s as simple as that.

Educate yourself - have a look at how that goodwill ends up on the balance sheet. Do some very basic research.

‘When the buyer buys them for a price >$1 and they are in his balance sheet for zero, what is that called, Goodwill.”

Goodwill arises on the purchase of subsidiaries, not individual commercial contracts.

It’s just a bookkeeping entry Elvis. do a very basic google search and you will see.

Your dentist wouldn’t have goodwill in his books unless he has a group of companies. It’s a byproduct of the consolidation process. A simple paper exercise to account for the excess in the purchase price over fair value.

Just accept it and move on.

Elvis - on goodwill the calculation is price paid less the fair value of the assets, not book value. It’s simply a consolidation adjustment so has no transferable value.

It arises because the purchaser has some expectation that the value of the business x years into the future will be worth more than the premium paid at the acquisition date.

‘So in principle the point I was arguing about goodwill or intangibles having bargaining power still stands. Otherwise why would the creditors ask the questions they have today, why bother if not’

It does for some types of intangibles - licensing, IP, brand names, ect.

Not for goodwill though. The value of goodwill is also influenced by how aggressively you write it down.

‘ Correct, it says intangibles, a type of goodwill as you indicate,

That’s not what I indicated!

The $398m looks to be an inter group obligation rather than a balance actually paid. The convertible loan being referred to is the $213m owed to BNY Mellon who were the largest unsecured creditor until Cineplex joined in.

I’ve got a feeling $293m was the amount of the ROW debt that was then financed by the DIP loan.

Elvis - I’ve had a look at the docket and they don’t mention goodwill. The docket talks about intangibles. Goodwill is a type of intangible asset. It’s not being specifically referred to though.

The liqueurs rights like any commercial contract is transferable. They are not part of the goodwill figure though.

Goodwill is a consolidation adjustment, a meer bookkeeping entry reflect the premium paid when purchasing a company.