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  • fernandotissera 2014-10-05 16:27
    John Emerson: I am certainly no expert but I believe they mainly mark the assets to market  and off course the sale price was low.  They still showed a large negati

              Thanks for your answer. Two more things (sorry for bothering you so much).
    One, in the 2010 annual report for Trop AC i read that they wrote it down in 2008 for $530.8m and in 2009 for $154,3m. Also i didn´t find the writedowns for the other properties (except for Lumiere of course). What i´m doing wrong to reconcile the numbers?
    Lastly, just curiosity but how did you arrive to this idea? i mean, what led you to the undervalued assets?
    Thanks again for your generosity.
    All the best.

  • fernandotissera 2014-10-05 01:33
    John Emerson: A lowball tender offer is always a possibility when investing in controlled companies.  That said I think it is unlikely due to the possibility of suc
    Hi John,

              Thanks for your answer. Very instructive as always.
    I would like to ask you a question.
    I´m new to Fresh Start Accounting. Shouldn´t be its purpose to assign fair value to assets and liabilities for a post bankruptcy company?
    It seems that it isn´t very fair with Tropicana.
    Am i missing something here?
    I would really appreciate your insights here.
    Thanks in advance.
    All the best.

  • fernandotissera 2014-10-02 15:28
    Hi John,

                I bother you again. Have you considered the possibility of an unfriendly (cheap) buyout from Mr. Icahn?
    Thanks again.
    All the best.

  • BEL-AIR 2013-10-04 01:56
    I would like to be able to share some of my net net idea's with you in the future if you have the time.

    I love some of your past articles by the way.
  • ry.zamora 2012-01-17 17:58
    John Emerson: I think that Gurufocus has all different levels of investors and I try to write articles for beginners as well as finance grads.  Lately, I have been
    Ahhh all different levels, huh?

    I see, I see.

    I've been thinking of whipping up articles for newbs myself. :P Of course, I've been wasting my time recently with business literature so (and regrettably, a highly addictive video game) I haven't worked on my financial analysis project in the past week. D:

    BTW, you might wanna read Michael Lewis' "Boomerang". It's an interestingly fresh read on the European crisis and establishes the human problems -- cultural and concupiscent -- that foreshadowed the debt crisis that's probably still ongoing (but overshadowed by earnings season).

    I've actually learned several things in the first three chapters alone (Iceland, Greece, and Ireland). :D Among them being a stronger distrust for Merrill Lynch, Goldman Sachs, and other big financial firms, of course.
  • ry.zamora 2012-01-16 16:46
    Hey John, question.

    How many newbs do you think are in GuruFocus? Out of curiosity. :D

    Hehehehehehe. XD

    ~ Ry
  • John Emerson 2011-11-01 00:56
    [email protected] just let me know your handle so I do not thing the message is spam.
  • John Emerson 2011-11-01 00:53
    [email protected], feel free to email me at any time.
  • Adib Motiwala 2011-10-31 20:12
    John, what is your email address?
  • rjstcr 2011-06-03 17:13
    John Emerson: I guess I do not understand the question.  Exactly what type of example are you looking for?

    Sorry John; This is the part I was referring to. Thanks, Ron

    In my experience, the best net/nets or discounts to TB plays are out of favor cyclical companies which are approaching the bottom of their trough. The key to a multibagger is almost aways an earnings catalyst and such companies are perfect candidates. Frequently such companies are M&A targets which can result in a much quicker gain albeit a much smaller one.
  • rjstcr 2011-06-02 22:08
    Do you have an example or two that I could study that you've done?
  • rjstcr 2011-06-02 22:07
    Do you have an example or two that I could study that you've done? Thanks
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