Browsing Category: "Special Situations"
I just ran the math on Jim’s investment and confirmed that he made a 6 percent gain on his $4,268.56 investment before expenses in just 201 days. That comes out to an average annualized rate of return of 10.9 percent. To compare that to your savings account rate, I calculated that the APY of Jim’s transaction came out to 11.1 percent.
Tri-Continental Corporation (TY) issued a press release last Friday announcing the preliminary results of the shareholders vote. The bad news is that the directors nominated by Western Investment did not win the vote. However, the current directors also failed to receive a majority of the vote. Therefore, these directors will be up [...]
Since inception on October 19, 2004, the rate of return for the Special Situations Real Money Portfolio has been 23.5% APY. This is a substantial improvement from what I reported earlier this year, 12.1 APY. The quick turnarounds with AutoNation, PVC Container, and Major Automotive definitely juiced my returns. While not quite as safe as putting my son’s college money in EmigrantDirect’s 4.5 % Savings Account, these relatively low risk special situations produce some great returns.
I maintain a list of these opportunities over in Contributor’s Corner. For a small contribution, you can gain access to the latest information in this premium section of Fat Pitch Financials.
Gannon on Investing details the current hostile bid by BASF (BF) for Engelhard Corp. (EC) and today’s response tender offer by Engelhard. After reviewing the details this morning and discussing it with other members of Fat Pitch Financials Contributor’s Corner, I decided to add a small position (odd-lot potential) of this stock in the Special Situations Real [...]
More cash just rolled into the Special Situations Real Money Portfolio! I just got $2,185.00 credited to my son’s Coverdell ESA this morning. As you might recall, I purchased AutoNation on March 31, 2006 for the Special Situations Real Money Portfolio. This was my first odd-lot tender offer opportunity that I’ve taken advantage of.
Odd-lot tender [...]
You might remember my investment in PVC Container Corp. that I made back on March 8, 2006. A few weeks ago I mentioned that PVC Container shareholders approved the deal. Today I finally received the cash in the Special Situations Real Money Portfolio.
Let me run through the stats on this transaction. I purchased 1,600 shares [...]
Today AutoNation Inc. (AN) announced that its tender offer was oversubscribed. Hopefully, the odd-lot preference will result in all my shares still being tendered. It will be interesting to see how this works out. Nothing appears to indicate that odd-lot holders will not be cashed out. I’ll be crossing my fingers and hoping that I will [...]
I purchased another 95 share of AutoNation (AN) on Friday, but this time I bought the shares in the Special Situations Real Money Port. I used the cash I recently received from Major Automotive Companies (MJRC.PK) to purchase the shares that cost me a total of $2,056.10.
AutoNation has a tender offer out to purchase shares [...]
Another successful going private transaction deal has been completed. I received cash yesterday for the 999 shares of Major Automotive Companies (MJRC.PK) that I purchased for the Special Situations Real Money Portfolio back on January 25, 2006.
Let me quickly run through the performance stats. The 999 shares of Major Automotive Companies I purchased for my son’s Coverdell [...]
A member of Contributor’s Corner sent me information on AutoNation (AN) this past weekend. I reviewed this stock on Monday morning, and I soon realized this stock offers me a good opportunity to experiment with an odd lot tender offer.
Tender offers refer to when a company or outside investor offers to directly buy a large block of stock from [...]
