No, I'm still holding from the $7 area. If going from 28 to 25 is 25% dillution in your book . . . so be it.
I guess this is the weak form of the EMH . . . If it were going to dilute 25% from 30 that would be . . . lets see, carry the two, and ; $22.50. But then, according to prior analysis, the stock price doesn't dilute beforehand . . . or something like that (have to ask sho what exactly he meant). If you are saying 25% dilution, based on announcement of conversion, I would go from 28 level , not 30. So you'd have to get to 21 area to call it that.
I'm still sticking to my guns; the dilution is (more or less) priced in and has been since the bonds were offered, obscured only by that they were an option on shares and conversion effect on equity should therefore priced in according to the black sholes option model. Brownian motion and all that.
If it does go to 21 I will probably go all in. Its a buyout at 40 in 2015 or '16. Possibly as high as 80 depending on macro-E conditions. Even if it doesn't, it'll be cashflowing above 5 and worth every bit of that.
So . . . still holding on to the notion that we're about to issue another 200million common and 36million preferred?
Let me know, oh brilliant and powerful OZ.
Well, you might be right, in that that may happen. But what has been announced so far is that USG intends to redeem the bonds. Redemption would kind of be the opposite of conversion, in this case.
BRK can certainly convert, and they have 29 days during which time they have the right to do that. Further, it is certainly what BRK should do, given the valuations involved.
But that is not the announcement that has been made and it is not in USG's prerogative to announce their intent to convert.
Not why, but THAT.
As in I think he is saying he doesn't believe THAT they dumped USG.
I checked; State Street filed their 13F on the 12th. It shows that they owned about 4 million shares, as of Sept. 30.
Do you have better/more current information than that?
Didn't think so.
Now you're funny too.
And didn't you just promise us you were 'outa here' for the rest of this quarter?
Reminds me of someone else who kept threatening to take his wisdom elsewhere . . . now who could that be?
So USG's total operating expenses have been zero for the last three years AND the last three quarters? (Look at the tally line in the 'operating expense' section of the income statement.)
I can take you to several different symbols of stocks that I follow and for each and every one show you similar errors on the financials presented on this website. Sometimes the total is there, but isn't the sum of the lines above it, sometimes cashflow doesn't match up with balance sheet changes. There are many many errors if you look closely.
All I am saying is that if you are relying on the financials presented here on Yahoo for analysis, you should really double check them against the sec filing before taking any action based on that analysis. And yes; their options reports frequently contain errors too.
Funny thing is, in all that time, you never recommended buying or holding USG and have consistently urged a short position.
"I don't care if you lick windows, take the special bus, or occasionally pee on yourself...you hang in there Sunshine, you're friggin' special."
No, worm, in this case you should actually trust him. We view you as a moron with zero credibility, analytical skill or insight.
That plus your recent posting of off the wall commentary on Obamacare. Good job. Way to stay on topic. You know with USG expanding into health care and all.
I take it whoever 'thumb down'ed my comment did not understand what I was saying; the financials, as presented on this website, by Yahoo, are usually inaccurate in some regard when compared to the actual 10Q and 10K filing.
Have you ever tried looking at the financials they present?
Interesting that you self identify as a basher. You're still very misguided on dilution. If you somehow perceive I said shares wouldn't be issued to BRK for the convertible notes, then you don't read very well. If you somehow think I'm a soft holder, you haven't been paying attention. My commentary on what has been filed is spot on. By next year, your presence on this board will be under a different alias.
The bashers always ditch the board when the stock price goes up. If they're not lying about dilution and making stuff up about contingency payments, I have no one to call out.