Is an abject failure. Just because a vicious minority inflicts its own value's upon a majority, then are shocked by the resulting rejection, and use the strategy of best defense is an over bearing offense, only makes the majority over time, "active".
A company's stock with actual earnings power . What, 4 times this years earnings, and just 3X 2017's....What the frack ? dude This feels very very weird. I saw the amortization schedule, and about pooped my pants.
How is it possible for business people to hate Ackman's guts so fracking much, that they would place that emotion above logic?
I thought Munger was actually trying to swallow a leather football, whole, no less, as he called a profitable company a sewer. There is little doubt in my mind, he is somehow short. Maybe long Put options, or something. Something... I never get this kind of spot. Just too small for it.
Even a 10 multiple, just 18 months after the media OCD set in, places this thing north of 120. Or am I missing something?
Can some of you balance sheet genius help a mo-mo guy out please. Did a boatload of future anxiety relief actually park itself in my garage? Or am I just being blinded by cash flow?