European Shorting
Number of Stocks: 10
Number of New Stocks: 1
Total Value: $10,068 Mil
Q/Q Turnover: 2%
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Without the right turn-around CEO, the stock is either mostly dead money at these levels or will continue lower, certainly if the market does.
Maybe Ackman will try to go activist and get his own CEO in there. Depending on who it is, that could be a real shorting opportunity, down to single digits.
Since this is happening at a point where the Dow is near an all time high, I would suspect that with any market pullback, JCP is going lower. Maybe Ackman's already sold out. It's what, less than half of what he paid for it?
Good thing Ackman has PG and CP to compensate for this. JCP has a shot at 15 at the rate it's going.
John Hempton of Bronte Capital, which is long HLF, wrote an absolutely fascinating article as the outcome of a first-person, Peter Lynch style kick-the-tires investigation that he did. Anyone with an interest in HLF should read it. Even Ackman. He might learn something.
See:
[brontecapital.blogspot.com]
The above is a headline from Bloomberg. Loeb is a MUCH better investor than Ackman is, so the odds are Ackman is going to lose this one. HLF has rallied strongly over the last week even prior to this announcement, and Ackman must be taking on beating on his short position.
We'll see how this develops over the next few weeks, but it's not looking good for Ack, especially if HLF reports good numbers for the quarter.
HLF continues to improve earnings on a yearly basis, and has consistently exceeded analyst forecasts over the last several quarters. Unless they are doing some funny accounting we don't know about, this fact seems to be lost on Ack. If he's serious, he may end up losing on this one as well. It's going to be volatile in the short term, so we won't know for a while.
On the other hand, Penney's earnings are looking progressively worse. They will be running in the red for a while, but it looks like Ack is undeterred and still holds this junk.
No Jk815, he didn't, since I'm not married. Maybe he slept with yours. And if he did, hopefully for him she was a better choice than his investment in Penney.
Silly me. I should have shorted it.
As I mentioned some months ago, it starts to get more interesting around 15. My guess is that if it does get there, it can still go a little lower before starting to bottom out.
Maybe I should consider selling mine... :)
Penney probably would be an interesting turnaround speculation if it gets down to about 15 or below. Who knows, it could do that at the rate it's going now...
The steadily declining stock price is telling us that. Maybe Ack is waiting for this to become another Borders. In any case, he's not looking like much of a Guru right now.
"When we first announced our stake in JCP, the stock price increased to the low $30s per share. Shortly after announcing our stake, we were approached by one of the most well-respected private equity funds in the world who expressed an interest in acquiring the company at a substantial premium. While we welcomed this fund as an owner of the stock, we had no interest in selling the company for a quick premium because we believe in the long-term value creation opportunity."
Well Bill, the stock is now 23 and change. I think you should have sold.
Great job, Ack!
Good going, Ackman!
Penney comprises over 17% of his holdings. I guess they didn't teach him about diversification in business school.....
This stock may get a bounce over the next day or two, but it will likely see 25 (or lower) before it sees 35 again, and who knows when that will be.
I wouldn't go near it....
Congratulations, Ackman!
Have a nice day, Ack!