Love to see that. I had been wondering if the 250K share sale the other day came from him.
Whatever. Nobody cares. Mostly just jotting this down for my own future reference.
Yep, and "somebody" bought 250K shares @ $3.81 just today.
Sooner or later, somebody other than you and me is gonna have to start taking notice.
I know some of you are going to say "hey, he should have bought at least 100K", and of course it pales in comparison to Tannenbaum's deal with RiverNorth, but I still find some significance in it.
Price was $4.69 and it more than doubled his position.
You mean with all the attorneys looking this POS over from every angle, the RiverNorth deal wasn't legal? No offense, but really have to go with their judgment over yours.
Agree with the common sense of the original poster. Tannenbaum's stake will be even greater after they execute their buyback. A huge percentage of the remaining float will be taken out if market price is maintained at anything close to these levels. I'm betting that it won't be.
But again, what a POS. I'm sure we can agree on that.
I presume you mean discourage activists. But how long will it take Tannenbaum to recover his personal losses in the stock via "exorbitant" management fees?
Have to believe this morning's price action has more to do with hedging activity relative to FSAM than anything else. Whatever it is, it's over my head, that's for sure.
I listened. It was a waste -- no questions taken.
But I agree, there's no distress here, hence no need for either us -- or them -- to sell at fire sale prices. Soon they'll be in position to retire those baby bonds. Then we just wait for ongoing monetizations, and subsequent liquidating distributions.
You've been in situations like this a thousand times before, right?
I figure in the "worst case", we're probably looking at 40% upside from here, at least, over the course of the next year or so. Not the most exciting investment, but should be relatively predictable.
Don't understand your "in light of the post Dec 31 deals". Haven't they been doing these deals more or less at carrying value?
My base case is quite a bit better than your best case. Then again, what a POS...