Portfolio

September 17, 2008

My third investment is:

  • A full position (10% of my portfolio) in Echostar at a share price of US$28.77.
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Activist Investors

September 16, 2008

Hedge Relations offers a free newsletter that identifies investments made by activist investors.


Brinks Spin Off

September 16, 2008

Margin of Safety has a post about the spin off of the home security business from Brinks.

Brinks Co. (NYSE: BCO) has been the recent recipient of much attention from the hedge fund activists including Pirate Capital and MMI Investments which have taken sizable positions in the company. Pirate’s founder eventually got his way and was given a seat on the Board. Since then this one seems to be flying under the radar a bit. Meanwhile, the folks at MMI have been kind enough to share their diligence with us. A bit of sleuthing on the SEC web site and you will come across a set of slides filed by MMI laying out various scenarios under which Brinks management would be able to increase shareholder value.

Slides from MMI.

The post was in April 2007, but the spin off is now scheduled to happen at the end of October.


Portfolio

September 4, 2008

As I have mentioned previously, I am going to use this blog to track investments that I make.

The first two investments I made on Tuesday are:

  • A full position (10% of my portfolio) in Sears at a share price of US$92.34.
  • A full position in American Express at US$40.63 a share.

I plan to post my investment thesis, along with what I believe each company’s intrinsic value is in the next week or so.