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Jefferies Group, Inc. Message Board

zoedach99 5 posts  |  Last Activity: Jul 31, 2014 8:52 AM Member since: Oct 26, 2003
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  • Reply to

    Wilmington Capital purchase

    by zoedach99 Jul 26, 2014 10:24 AM
    zoedach99 zoedach99 Jul 31, 2014 8:52 AM Flag

    Even though it was another guy who started Brascan, I think you are probably in the right area for the reason. The BAM folks must know the management team and sees it as being able to make deals that don't scale to BAM but will eventually become a much much larger operation. Maybe they are investing in future BAm execs?

  • zoedach99 by zoedach99 Jul 29, 2014 12:44 PM Flag

    LVLT gain today is partly attributable to good quarterly report, but also to Windstream's (WIN) announced spin off of its network assets into an independently traded REIT. The whole telecom sector is up as a result. It is a very tax efficient way of running a business, but LVLT has more than $9 billion in NOLs to use up before it pays any federal taxes. Don't see a REIT in LVLT's immediate future.

  • Anyone have thoughts as to why BAM is buying chunks of Wilmington Capital equity? From what I can see, Wilmington capital is a BAM mini-me, with the emphasis on mini. Only has $146 million AUM in real estate (self-storage units), private equity (oil and gas plays), and natural resources (mostly natural gas). The whole enterprise has a market cap of $32 million, a mere rounding error on the BAM balance sheet. Why put any BAM capital to work here? BAM mgmt. must see talent in management or opportunity to let someone else grow a new investing platform to scale and then take it over. But it is curious just the same.

  • Reply to

    Why can't we dumb longs seem to understand?

    by sigallbenjamin Jun 14, 2014 7:24 PM
    zoedach99 zoedach99 Jun 15, 2014 3:57 PM Flag

    Sigal: Don't necessarily disagree, but I finally got out with a miminal gain because I've come to doubt management's statements. The president continually trumpets PSEC's low bad loan rate, with no loans made within x number of years on non-accrual. But then a company PSEC reinvested in two quarters ago goes bankrupt. If the president knew that one of his biggest investments was in trouble and continued to tout the "no non-accriual" mantra, that is just plain misleading. And, if he didn't know the investment was in trouble, then to me that is most damning. In any event, I decided I could not trust their statements. But good luck to all longs. PSEC is still an interesting company, just not one I feel comfortable with.

  • Reply to

    When does MONIF report earnings?

    by twomovehigher May 22, 2014 9:41 PM
    zoedach99 zoedach99 May 23, 2014 10:49 PM Flag

    Not that strange; they only report every six months, not quarterly.

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