Lion Fund continues to load up. Is it because he thinks they are a good value or is this a control issue ?
Form 4 BIGLARI HOLDINGS INC. For: Dec 23 Filed by: BIGLARI CAPITAL CORP.
Common Stock, stated value $0.50 per share (1) 12/23/2014 P (3) 1,731 A $ 372.3134 (4) 310,706 I (2) By The Lion Fund, L.P.
Common Stock, stated value $0.50 per share (1) 12/24/2014 P (3) 1,832 A $ 375.2238 (5) 312,538 I (2) By The Lion Fund, L.P.
Common Stock, stated value $0.50 per share (1) 12/26/2014 P (3) 2,000 A $ 383.1971 (6) 314,538 I (2) By The Lion Fund, L.P.
Common Stock, stated value $0.50 per share (1) 12/29/2014 P (3) 1,947 A $ 390.2905 (7) 316,485 I (2) By The Lion Fund, L.P.
There are CONTINUED & REPEATED stock sales by the company. See their filings. They even pay 3rd party salesman a commission to sell it.
Besides, if you are running a fraud as I believe they are, not filing a form 4 isn't going to mean much if you are going to prison anyway.
I have no evidence that insiders have personally sold stock but within their SEC filings they can & have issued stock to almost everyone & that could end up on their pockets.
Theres no way they have been running this money losing company for 12+ years without getting paid. And I mean with more than just shares.
So I would wager they have been selling shares or somehow getting paid.
Nobody works for 12+ years for free.
I sold the extra shares from my taxable account at $17.74 so now I have my core position, all in my IRA so mulitiple distributions wont matter.
I speculate that FUR was being held down because it was thrown out of indexes. So hopefully we go higher.
looks like the ex dividend date is 12/31 so we will go down $2.25 that day. Which is about 12.5%.
But we wont get paid until 1/15.
New target after the $2.25= $18.78. (That's if the $21.03 proves correct)
Many of us were forced out at $33.90. (Lucky apparently)
One wonders if the company is in there buying and if not, why not ?
I guess being in the energy segment is not great for them. But they have a $37 book value and about $19 per share in cash.
The trading reminds me of a few months back before the capital raise.
So maybe another one is on the table.
Problem is they have to mark the stock down to sell a bunch.
Im just having a hard time understanding how there can be unlimited demand for no risk high interest loans even after all these years.
Seems like other lenders would get involved and LOAN wouldn't be able to grow endlessly.
My objective was to sell the shares in my taxable account and buy them in my IRA so that I could take the taxable gain this year and so future record keeping will be easier. Multiple distributions as I expect from FUR next year tend to complicate tax returns.
Anyway, right after buying at $17.54, I attempted to sell at $17.55 and then $17.54 but then the stock went down and closed around $17.49-17.50.
So I put a limit order in to sell at $17.74. And that filled a few minutes after the open today.
So it worked out well. I bought back the same number of shares that I sold so my position remains unchanged.
I am looking for a total return here of $19.69 which is the midpoint of $18.35 and $21.03.
So we have about 10.8% upside just using the $19.69 midpoint.
We have 18.3% upside if we end up with $21.03.
However, it could take 2 years or so to get all of our money. (Although we get back $2.25 on Jan 15th)
I think FUR would be trading higher if not for index rebalancing where all index funds sold or will be selling FUR since its no longer suitable for REIT indexes & so forth.
And hopefully, FUR is back in the market buying back common shares as that would just increase our eventual total return.
PAYMENT RECEIVED BY FOR 194 - COMPLAINT OR OTHER 1ST PAPER IN THE AMOUNT OF 435.00,
Ask yourself if a reputable company would be doing this !
BLGO, Calvert and Joey boy will NOT censor, intimidate or silence me.
In fact, I will make it my lifes work to expose this company for what it is !
A strategic lawsuit against public participation (SLAPP) is a lawsuit that is intended to censor, intimidate, and silence critics by burdening them with the cost of a legal defense until they abandon their criticism or opposition.
The typical SLAPP plaintiff does not normally expect to win the lawsuit. The plaintiff's goals are accomplished if the defendant succumbs to fear, intimidation, mounting legal costs or simple exhaustion and abandons the criticism. In some cases, repeated frivolous litigation against a defendant may raise the cost of directors and officers liability insurance for that party, interfering with an organization's ability to operate. A SLAPP may also intimidate others from participating in the debate
Can Calvert really afford to playing around with a SLAPP
He will NOT scare me away. So all he is doing is wasting shareholder money. But then, he has been doing that for 12+ years and GAAP losses of over $64 million.
The TRUTH is on my side. I am better capitalized and I have more willpower. I will continue to expose this company for what it is as long as they continue to mislead people.
I think he belongs in prison with his mentor Mark Roy Anderson.
Avg Vol (3m):
I feel for the poor scammers, really I do.
Perhaps they should be selling Vemma or Herbalife.
They are stocks his opponent has been buying.
Lion has also been buying BH shares which would help in any vote.
conditioned upon a minimum of $50.0 million of the Company's outstanding Common shares being tendered.
Ralph Finkenbrink, the Company's President and Chief Executive Officer, has advised the Company that he expects to participate in the tender offer.
And we can presume Peter will sell most if not all of his.
GAAP losses of over $64 million.
Nuway oil & gas=Belly up.
Nuway Medical=Belly up
Beep for free=Belly up
Guy needs to be kicked off the board.
Form 4 SPECIAL DIVERSIFIED OPPO For: Dec 17 Filed by: van den Broek Richard
Common 35,630 D
Common 12/17/2014 S 20,000 D $ 1.11 180,000 I By HSMR Advisors, LLC. (1)
Common 12/18/2014 S 50,000 D $ 1.12 130,000 I By HSMR Advisors, LLC. (1)
Problem is one cant known in advance when dips are dips. Plus, its not cost effective commission wise to buy small amounts.
Biglari is spending a lot of money bidding on the other 2 stocks.
Is this rational or is this an out of control ego ?