You write some detailed posts and have been doing some reading. A Yahoo search shows you have posted only 15 times total, all on the ENZN board, including 7 in the last 24 hours. Yet you say you are neither long nor short here. Just curious, why the focus of posts on little ENZN and no other posts elsewhere?
I have said some of this before, so please forgive. I am an active dividend/value investor. I normally invest on the long side via options. ENZN popped up on a screen due to the special dividend. Normally a very bullish thing that a company has extra money to return to investors. I thought it might be a good investment. I did a little due diligence and have recognized what appears to be the opposite. Liquidation.
I spend a fair amount of time researching investments before I spend my money. That includes talking to people on these boards. I do my best to deal in facts, good or bad. This is a great forum to fact check. If I make a big factual error, you guys would take me apart.
This company was a bit of a puzzle. But the options for a good outcome for stockholders narrow with every statement or non-statement this company makes. If there is not a miracle announcement from Enzon soon, I will make a sizable investment that the stock price collapses. I have started to build a position. The puts on this company are significantly underpriced if nothing crazy happens. At todays prices the stock would drop to $1.50 ($3.10-$1.60) or lower on June 5th. On Friday you could buy the $2.50 June put for $.10. At $1.50 stock price, the intrinsic value of that put would be $1.00. That would be a 900% return. That sounds wrong, but it happens. There are some dangers, but for now, I like the risk/reward. Normally the value of the puts will move up to near the value of the dividend by the ex date. These have not moved much.
Perhaps you missed my question. I didn't ask you to reiterate your negative view. I inquired why this is the only Yahoo board that there is a record of you ever posting on.
Further, most boards do not have a badbilly who will parse the filings with someone. Posters have opinions, post them briefly. Can you point me to where you have had stock debates on these boards before?
in the case of liquidation-- a 'risk' that was amended in the new filing-- what would happen to the royalty stream-- who would get that revenue? would they just sell it? it's worth a lot, so they better get a lot for it. Unlike with the IP, I have a hard time believing they could get away with selling the royalty stream for nothing. The IP is difficult to value, but the royalty stream is not.