Last time, we got a 19% move from start to finish. If we get that again, starting at $370, we could be looking at $440. Of course, he could designate a price at which he isn't willing to buy more too.
Id be happy if we get to $425 and stay there.
Does anyone find it interesting that over a half dozen of BLGOs touts also touted the MHCC scam to zero ?
This codolan touted it as a 50 bagger. Its worthless. But you believe him for BLGO ?
These guys aren't even attempting to cover up their securities fraud.
The SEC will be coming for you. And you will spend thousands on attorneys fees. That's money that could be going up your nose. Because I have this theory that a lot of criminal stock touts are drug addicts.
Thanks. Did you do the math or was that in a filing that I missed. The 13d I saw, I counted 23,146 shares but I didn't do the math for the avg cost.
I presume the 854 came the next day.
Everything they have ever touted has failed. But go ahead, give them another 10 years.
Meanwhile, I will expose what I consider to be massive deception.
Read the SEC filings. Don't believe the hype.
They will never have any material revenues and they will never have any earnings.
But the executives live like kings on the shareholders dime.
The board of directors are negligent at best.
Reality shows 14 years of broken promises & multiple changing business models. The only sure thing is they ALWAYS lose money and lots of it.
But, they always spend boatloads on PAID TOUTS.
The first time, he bought at ever increasing prices starting at 327.65 to 389.74. I think there was 1 final trade that wasn't disclosed.
So its reasonable to think his buying could take it higher again. How high is the question.
The first one lasted a month. This one should last nearly 3 months.
I didn't do the math and get an average cost, maybe someone else will.
I had hoped for maybe an increase to 12 cents but really, buying shares back at current prices is a better use of funds. Maybe next year this quarter they can increase it.
Will be interesting if we see insiders buying. But with the company buying they might not want to compete with the company. But not always. Mark this post and check back in 18 months.
I wager the stock goes at least 50% higher by then.
And I think $18-19 is very possible.
If we go much lower I'm going to have to buy more in the open market too.
I don't get it.
I sold some at $4.49 and bought some back at $3.45. From all I can tell is its just an imbalance of sellers right now.
A larger, perhaps quarterly dividend couldn't hurt.
I don't know that I would call him a fraud, but larceny is clearly in his heart.
An honest manager would be buying back shares with company money to benefit ALL shareholders. The entire moving all money to his fund without outside shareholder approval is dishonest.
Maybe if we had a board of directors worth their salt, they wouldn't let this continue.
Instead, they are his self-appointed yes-men.
Sold 45,300 as low as $9.92.
Shares were sold by the Ashner Evergreen Foundation,a New York not-for-profit corporation (the "Foundation"), an entity which the Reporting Person is a director in order to meet existing charitable commitments of the Foundation. The Reporting Person had previously disclaimed beneficial ownership of the shares sold by the Foundation.
68000 equals about 3.285% of the shares outstanding. Approx $25 million worth. Using OUR money so that he makes a bonus on it for himself.
Why not leave the money with the parent company ? Because he couldn't make money off us as easily.
On May 10, 2016, The Lion Fund II, L.P. (“The Lion Fund II”) entered into a Rule 10b5-1 Trading Plan (the “Purchase Plan”) pursuant to Rule 10b5-1 under the Securities Exchange Act of 1934, as amended, with respect to shares of common stock (the “Shares”) of Biglari Holdings Inc. (the “Company”). Under the Purchase Plan, a broker dealer will make periodic purchases of up to an aggregate of 68,000 Shares on behalf of The Lion Fund II at prevailing market prices, subject to the terms of the Purchase Plan. This description of the Purchase Plan does not purport to be complete and is qualified in its entirety by the text of the Purchase Plan, a copy of which is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
I took advantage of the pullback to add 4 shares to my lot. Now I have a total of 15 shares, 10 in one account and 5 in the other. Far less than before I sold out of the bulk of my shares at $415-420
Hopefully, the shares will rise when he is back in there buying because he wants to make money OFF us, not with us.
I wonder if SNS is seeing breakfast sales weaken with McDonalds sales being strong recently ?
Commenting on the quarter, Hilton H. Howell, Jr., chairman, president and chief executive officer, stated, “The year is off to a great start and we couldn’t be more pleased. Our property and casualty operations continue to post increasing profits and have recently been successful in renewing several large accounts. Our life and health operations have spent the past year on product development, distribution and pricing refinement and the increase in our first quarter premium revenues confirms that our actions are paying off. We believe that our first quarter is a good indicator for the balance of the year.”
I added some shares at $3.45 today. I think my limit order was $3.51 so I got price improvement.
Still concerned about the director resigning.
On the positive side, that other director buys shares from time to time.
With a 9194 share trade at "the market" which was $8.64 because they placed a market order.
With a limit order, they could have gotten $11.25 fairly easily if not more.
They gave away $27k by being stupid.
That will pay for 4+ years of dividends. But, its just a return of capital.
I think the stock should be trading closer to $1.75 because this dividend indicates a willingness to do something about shareholder value, finally.
I did not sell ANY on the move to $1.50 because while its easy to say it got too high in hindsight, It was reasonable to think it would continue higher to at least $1.75.
Im probably going to add shares on if we don't stay above $1.
A case could be made for a one time distribution, a buyback or both instead of or in addition to .
With the shares at $2.55ish we still have a margin of safety. They had an opportunity to update us on the strategic alternatives but chose to remain silent.
Would seem to me that slow liquidation might be the fallback option which might take years.
Ideally, maybe someone would buy the entire company for say $3-3.20. That would be a fair outcome I guess. If we could get paid within 3-6 months. I don't know likely that is.
No conference call doesn't help with clarity.