GrowthnValue’s Activity

Today

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Boards Post

GrowthnValue replied to the Stereo 8 board. 4 hours ago

Re: GLRE - Greenlight

GLRE reported today. Nothing particularly surprising.

(1) Book Value was down 2.2% in the first quarter to $30.09. This wasn't surprising as the hedge fund had already reported being down 1.8% for the quarter. The hedge fund was down another [more]

Sun May 3

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Boards Post

GrowthnValue replied to the Stereo 8 board. 8:39 AM

Re: GLRE - Greenlight

Wanted to mention a couple of things I didn't have time for yesterday.

I didn't really lay out the bull case. However, I don't have anything different than what has been laid elsewhere on VIC, Brooklyn Investor or Seeking Alpha. ET has [more]

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GrowthnValue replied to the Berkshire Hathaway board. 8:25 AM

Re: Trend value estimate, rate of growth

Hi Jim,

Thanks for the post.

It seems like the story of the quarter and year is the growth in operating earnings. YOY operating earnings grew 20% and operating earnings are becoming a greater portion of the value of the company. [more]

Sat May 2

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Boards Post

GrowthnValue replied to the Stereo 8 board. 8:21 AM

Re: GLRE - Greenlight

Good questions.

Is it unusual for a reinsurance firm to lean so heavily on equities as opposed to debt? I understand that there is a long-short hedge approach being taken but I wonder how usual it is.

As far as I know yes. [more]

Fri May 1

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Boards Post

GrowthnValue posted to the Stereo 8 board. 4:29 PM

GLRE - Greenlight

I have been holding GLRE for a relatively short and unproductive time. It is a reinsurance firm run by David Einhorn. The equity and float is invested by Einhorn in his long-short hedge fund. It is modestly net long last time I looked. The share [more]

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Boards Post

GrowthnValue replied to the Last RoundUp board. 1:27 PM

Re: MKL regret. FRFHF regret.

MKL is a significant position for me. My current plan it to hold it for a few more decades. IMHO, I think it is tough to add significant value by selling small portions and buying back at a lower price.

What price do you sell? When do you [more]

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Boards Post

GrowthnValue replied to the Markel Corporation board. 10:21 AM

Re: TG Introduction

Fantastic. Excited for some more MKL talk.

Any plans for the MKL breakfast this weekend - maybe links or such?

Some weakness in MKL over the last month after some strong outperformance. I would still like to add a little bit to my [more]

Wed Apr 29

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Boards Post

GrowthnValue replied to the Berkshire Hathaway board. 8:44 PM

Re: buying brkb puts

Good luck.

I am most familiar with BAC, JPM and BRK. The puts you list for those certainly seem safe from exercise and I would expect them all to expire worthless.

I do think you are playing a little bit of a reverse lottery. For [more]

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Boards Post

GrowthnValue replied to the Berkshire Hathaway board. 1:22 PM

Re: buying brkb puts

But the key number is the ratio of cash committed to cash on hand.
Cash committed is 100 * contractcount * strike, summed across all positions.

That's how much you can be asked for, on no notice.

At a ratio of 1:1 this is
[more]

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GrowthnValue replied to the Berkshire Hathaway board. 10:04 AM

Re: buying brkb puts

...over the past week, including today, I sold Jan 2017 $100 strike price

Overall, I am able to generate over $10 K a month doing this.

Looking at the Brk-B option chain, the Jan 2017 $100 strikes have a bid of $1.46; [more]

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Boards Post

GrowthnValue replied to the Stereo 8 board. 7:08 AM

Re: Alt Managers - McKinsey Report

Reminds me of one of my favorite marketing presentations. Not sure if I can explain it well in a post, but I'll try.

A few years back, the company I work for held 90% market share in a product sub-category. Unfortunately, that sub-category [more]

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GrowthnValue replied to the Stereo 8 board. 6:56 AM

Re: Jacket Optional

I think you buried the headline - Leon Black wears sunglasses.

Mon Apr 27

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Boards Post

GrowthnValue posted to the Stereo 8 board. 3:42 PM

Alt Managers - McKinsey Report

There is a KKR write-up available at VIC that just became available to guests. It mentions and links to a McKinsey report, which I am linking below. Nothing BX, APO or OAK specific, but talks about some trends. Two big ones in favor of the three [more]

Fri Apr 24

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Boards Post

GrowthnValue replied to the Stereo 8 board. 8:00 PM

Re: Oil and Gas

Ugh. Lost my reply post to this just as I was finishing. I'll try again.

When I bought BBEP several years ago I likely didn't know enough to intelligently buy it. I hope that my due diligence has improved since then.

That being the [more]

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GrowthnValue replied to the Stereo 8 board. 7:46 PM

Re: RCL

Hi Nested,

Any thoughts about shorting in general? As a theoretical matter, it would be nice to have a basket of shorts - say 20-30% of a portfolio. If you could break-even with the shorts in a rising market and provide some gains in a [more]

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Boards Post

GrowthnValue replied to the Last RoundUp board. 8:53 AM

Re: Q1 2015 letter

I thought you might like some feedback on the letter. I don't have a lot of time, but will give some quick thought. The main comments I have are that I think I would try to put a more optimistic spin on everything and write more in the passive voice [more]

Wed Apr 22

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Boards Post

GrowthnValue posted to the Stereo 8 board. 8:32 PM

Oil and Gas

Not sure how many are reading, but I said that I would write on something different the next time I posted so, and here it is. This is not an area where I have covered myself in glory. I made some unwise decisions and got caught off guard by oil [more]

Mon Apr 20

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Boards Post

GrowthnValue replied to the Stereo 8 board. 10:49 AM

Re: APO

Martian and ET,

Thanks for the replies. I can only catch TNG references.

I tend to like the variable distribution policy from a conceptual standpoint - pay out what makes sense at the time. A standard base dividend and year-end [more]

Sun Apr 19

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Boards Post

GrowthnValue replied to the Stereo 8 board. 2:58 PM

Re: APO

ET and Martian,

I understand the reference to the original carpenter and related, but don't think I am following the rest of the quotes.

Also a question, I mention above the high percentage of distributable earnings that are paid [more]

Fri Apr 17

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Boards Post

GrowthnValue replied to the Stereo 8 board. 6:09 PM

Re: APO

From my perspective as an investor in BX, what makes things so favorable is their ability to grow so significantly while paying out so much of their earnings. I don't know of anything similar.

I may or may not have been clear here. I [more]

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Boards Stats & Trivia

One star, 50 posts
Board Posts 177
Recs Received 158
People who have rec'd these posts 81
Recs to Posts Ratio (last 30 days) 2.30
Threads Started 26
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Most Frequent Board Berkshire Hathaway
Very First Post Best Hedges (2/11/2011)
Percentage of Posts Rec'd 44.07 %
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