You have enemies? Good. That means you've stood up for something, sometime in your life.
I dare say that ANYONE who has seen what they have done over the last 12+ years like I have would be doing the same thing.
And when I say I will take this to the end of the earth, I mean it.
No court in the world would rule against the truth and for a scamster.
Just figured my annualized return over 10.4 years and I get about 13%.
Not terrible considering they took it dark too.
But its time to either explain why its worth a lot more or sell it.
To Miller or HNH or whomever.
$10 now beats the heck out of a $8 share price 3 years from now..
If they don't sell, they need to commit to a buyback to keep it from tanking 20-30%.
So if they don't think $10 is fair, they have no excuse for not buying all they can get at $8.50.
Very good question. Id hate for them to sell for $10 if they could get $12-14 in a few years.
But the concern is their stonewalling will cause the stock to fall back to $7.
No easy answer. Maybe sell half ?
Most of us have been in here a very long time.
I bought 8/18/04 at an avg cost of $2.65. I believe I followed Miller. Steele and/or Insiders. Cant recall exactly but usually when you have multiple insiders and a 13d holder or two, good things can happen.
I wouldn't mind deferring the gains but I don't want the stock to fall back to $7 either so they need to EXPLAIN why its worth more if they don't sell it or put it on the block.
I may try to call or write them too.
Doesn't mention biglari isn't personally buying, doesn't mention the control issue and its just wrong on the last time he bought stock.
And other insiders HAVE bought. Just one very recently if I recall.
I don't recall either as to how many shares outstanding. Had to look up how many shares I still own.
I know my cost basis is zero though. But I did expect something to happen by now.
Looks like its listed for $4.75 million.
Saw a chart of asking rental rates in that area and its been trending down for several years.
I guess our eventual payout depends on the proceeds.
The trade happened 1 second before the close, it showed a bid/.ask for 75 cents to 90 cents at the time.
I could not find any news or SEC filings that would account for the increase.
The last news was an SEC filing extending their existence thru 1/25/2015.
So its been over 2 years. Their website is offline
I left a message at (646) 201-9549 but past messages have not been returned so Im not optimistic.
Stock went ex-dividend today so $2.25 per share is in limbo for a while.
One site shows FUR as one of the days biggest losers but they are not considering the ex dividend.
Looks like this guy dumped 200k total held by HSMR Advisors and 10k held personally so he is down to 25,630.
But Director McCabe has been in there buying up 178,200 total.
I added to my position with a favorable fill this morning at $1.06 Had bought previously this year at $1.13-1.14.
+ prior at lower prices.
Murray J. McCabe Joins Blum Capital Partners as Senior Partner
SAN FRANCISCO -- August 15, 2012
Blum Capital Partners, a leading investment firm active in investing in both
privately structured investments as well as strategic blocks of publicly
traded securities, today announced that Murray J. McCabe will join the firm as
a senior partner, effective September 4, 2012. He will be responsible for
overseeing and managing Blum Capital’s global real estate related investment
initiatives, focusing on distressed debt, opportunistic equity investments,
and structured investments in public securities.
Mr. McCabe, 44, joins the firm after an expansive 20 year career at J.P.
Morgan, most recently leading its real estate efforts as global head of real
estate investment banking, and previously as head of real estate mergers and
“Murray is a highly respected real estate professional and we are delighted to
have someone of his caliber join our team,” said Richard Blum, Founder and
Chairman of Blum Capital Partners.
Well, Im not sure of the low 40s again. But mid 40s I could agree with.
Im in a bad position in that I don't really have a full sized position and I could stand more, but neither buying nor selling appeals to me at current prices.
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.