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Pershing Square Holdings (PSH)
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Aminatidi
Posted: 01 May 2021 13:22:22(UTC)
#11

Joined: 29/01/2018(UTC)
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Agreed, just saying it's probably not what I'd have thought of as "crash protection" given it's got 9 equity positions from the latest newsletter.
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Guest on 19/04/2022(UTC)
Split Cap Jim
Posted: 01 May 2021 13:25:35(UTC)
#12

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Well worth considering, plenty of detail in the annual reports/letters and why pay AGT an extra layer of fees.
Had a tricky start in life, but a trust that is predominantly invested in US blue chips but is prepared to protect those positions with options looks like a good option. The SPAC holding probably makes the NAV a trifle volatile, but on the current discount I'm holding (first bought in 2019). Pays a small dividend, and now part of the FTSE100 which has helped the discount narrow.
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Mr GL on 06/05/2021(UTC)
Raj K
Posted: 01 May 2021 14:22:44(UTC)
#13

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I have a position in AGT and also have been building a position in PSH slowly since last March. I like Ackmans philosophy and he seems to have learnt its best to keep away from shorting things and just focus on investing . He talks about all the same things Buffett and Smith talk when identifying good companies. Also he is not against moving in and out of positions if better value is found elsewhere. I don’t think he even likes it being called a hedge fund per se.

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Mr GL on 06/05/2021(UTC)
Strangways
Posted: 01 May 2021 15:11:13(UTC)
#14

Joined: 23/12/2020(UTC)
Posts: 565
Bulldog Drummond;167582 wrote:
Any thoughts on this one? Good long term performance, liquid and 25% discount. But horrendous fees & charges of 6%.


Peter Spiller bought PSH for Capital Gearing Trust on a 40% discount, and sold it earlier this year in a neat piece of work. CGT still holds PSH debt. From the December 2020 report:

Quote:
The company purchased a c. 2% weighting in Pershing Square Holdings on discounts up to 40% in the teeth of the March sell off. A combination of strong under-
lying performance and discount tightening contribut- ed to a near 80% return for the year. The fund took advantage of its December inclusion into the FTSE 100 – and associated index buying – to materially re- duce the position.
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Mr GL
Posted: 04 May 2021 07:19:46(UTC)
#16

Joined: 18/10/2020(UTC)
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Just released monthly NAV
April +4.2%
YTD +11.8%

https://www.londonstocke...for-april-2021/14961006

I have smll Pershing Square PSH Global Equity 2.7%
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Raj K on 04/05/2021(UTC), Big boy on 04/05/2021(UTC)
Big boy
Posted: 04 May 2021 08:09:49(UTC)
#17

Joined: 20/01/2015(UTC)
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Mr GL;168119 wrote:
Just released monthly NAV
April +4.2%
YTD +11.8%

https://www.londonstocke...for-april-2021/14961006

I have smll Pershing Square PSH Global Equity 2.7%




Thank you for the alert. Looks like offer discount is 26.18% which IMO is a strong
Hold/BUY. Hopefully the SPACs market will sort itself out now that Covid is less of a factor. If not maybe we will be able to buy some of them on discounts soon. The discount plays continue to perform well and few signs the market is topping out. As many of them continue to rise we will have opportunities to move out. Stocks like HMSO,BLND and LAND have outperformed many investors favourites. Still a seller when 15%Bid.
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Raj K on 04/05/2021(UTC)
Laurence O'Brien
Posted: 04 May 2021 09:30:09(UTC)
#18

Joined: 04/12/2014(UTC)
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Big boy;168124 wrote:
Mr GL;168119 wrote:
Just released monthly NAV
April +4.2%
YTD +11.8%

https://www.londonstocke...for-april-2021/14961006

I have smll Pershing Square PSH Global Equity 2.7%




Stocks like HMSO,BLND and LAND have outperformed many investors favourites. Still a seller when 15%Bid.


They are all just bouncing back from very low levels and would have lost a big chunk of your money over the last five years. With all that retail, I wouldn’t buy them at any price.
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Keith Cobby on 04/05/2021(UTC)
Big boy
Posted: 04 May 2021 09:49:33(UTC)
#20

Joined: 20/01/2015(UTC)
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Laurence O'Brien;168130 wrote:
Big boy;168124 wrote:
Mr GL;168119 wrote:
Just released monthly NAV
April +4.2%
YTD +11.8%

https://www.londonstocke...for-april-2021/14961006

I have smll Pershing Square PSH Global Equity 2.7%




Stocks like HMSO,BLND and LAND have outperformed many investors favourites. Still a seller when 15%Bid.


They are all just bouncing back from very low levels and would have lost a big chunk of your money over the last five years. With all that retail, I wouldn’t buy them at any price.



I am very happy as bought most within last x months and some of us have excellent profits and many stocks are moving to-wards a selling range as markets move to overbought from oversold. I look at to-days price rather than what happened over last 100,1000 or 730 days. Perhaps you will be tempted when they have risen a further X % and then they have a good past performance figures. I prefer FIFO rather than LILO as I think it adds value. Have tried most of the other methods over last 60 years.
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Guest on 04/01/2022(UTC), Sheerman on 08/01/2022(UTC)
Laurence O'Brien
Posted: 04 May 2021 10:24:09(UTC)
#21

Joined: 04/12/2014(UTC)
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Big boy;168137 wrote:
Laurence O'Brien;168130 wrote:
Big boy;168124 wrote:
Mr GL;168119 wrote:
Just released monthly NAV
April +4.2%
YTD +11.8%

https://www.londonstocke...for-april-2021/14961006

I have smll Pershing Square PSH Global Equity 2.7%




Stocks like HMSO,BLND and LAND have outperformed many investors favourites. Still a seller when 15%Bid.


They are all just bouncing back from very low levels and would have lost a big chunk of your money over the last five years. With all that retail, I wouldn’t buy them at any price.



I am very happy as bought most within last x months and some of us have excellent profits and many stocks are moving to-wards a selling range as markets move to overbought from oversold. I look at to-days price rather than what happened over last 100,1000 or 730 days. Perhaps you will be tempted when they have risen a further X % and then they have a good past performance figures. I prefer FIFO rather than LILO as I think it adds value. Have tried most of the other methods over last 60 years.


I totally understand that. It’s just not my way of investing in property.
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Big boy on 04/05/2021(UTC), Guest on 04/09/2021(UTC)
Big boy
Posted: 04 May 2021 10:42:15(UTC)
#19

Joined: 20/01/2015(UTC)
Posts: 6,676

Thanks: 5660 times
Was thanked: 11110 time(s) in 4250 post(s)
Laurence O'Brien;168130 wrote:
Big boy;168124 wrote:
Mr GL;168119 wrote:
Just released monthly NAV
April +4.2%
YTD +11.8%

https://www.londonstocke...for-april-2021/14961006

I have smll Pershing Square PSH Global Equity 2.7%




Stocks like HMSO,BLND and LAND have outperformed many investors favourites. Still a seller when 15%Bid.


They are all just bouncing back from very low levels and would have lost a big chunk of your money over the last five years. With all that retail, I wouldn’t buy them at any price.


I now think “retail” is the exciting bit as Companies move to “repurposing”. Perhaps others
have noticed hence HMSO being one of the best performers over last 12 months.
I prefer to buy before the “story” and so discount plays have been an excellent indicator. Once the story has
been written I will be out as tend to be overbought. Perhaps I better sell a few HMSO as shouldn’t be greedy....we all know what happens to greedy piggies.
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Newbie on 04/05/2021(UTC), Guest on 17/05/2021(UTC), Taltunes on 06/07/2023(UTC)
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