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Pershing Square Holdings (PSH)
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Big boy
Posted: 27 November 2024 17:48:30(UTC)
#541

Joined: 20/01/2015(UTC)
Posts: 6,679
……
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John Bran
Posted: 27 November 2024 18:20:56(UTC)
#542

Joined: 01/09/2017(UTC)
Posts: 2,128
Big boy;327068 wrote:

What a prick no wonder your parents despised you.


Big boy;327068 wrote:

What a sad person you are and clearly troubled ...I have never been unpleasant to you and as I have said before you should seek help....I appreciate you had issues in the Military and I am sad for your situation...


Your entire life is about being unpleasant to others. You have no right to be unpleasant to others just because your parents abused you.
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Richard Lambert
Posted: 28 November 2024 18:53:30(UTC)
#550

Joined: 17/08/2010(UTC)
Posts: 49
Big boy;327066 wrote:
Richard Lambert;327059 wrote:
I contacted Tony at Investor Relations about the call and lack of transparency
His response.....
"For regulatory reasons we are unable to address any questions specific to Pershing Square Holdings, Ltd. on our May and November conference calls.  For that reason, we are only able to cover topics related to the portfolio not topics specific to the structure of PSH such as discount and listing.  However, we are able to address these issues at the February PSH Annual Investor Meeting, in the PSH Annual Report (published in March) and in the PSH Interim Financial Statements (published in August)."
He got back to me very quickly and he seems very amenable to communication.


What issues are you wishing to raise .....

I was just asking about discount narrowing, delisting etc more specifically why they weren't mentioned on the call. Nothing too dramatic.
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Johan De Silva
Posted: 28 November 2024 19:23:25(UTC)
#543

Joined: 22/07/2019(UTC)
Posts: 4,414

Thanks: 5918 times
Was thanked: 10142 time(s) in 3362 post(s)
John Bran;327072 wrote:
John Bran;327072 wrote:

What a prick no wonder your parents despised you.


Big boy;327068 wrote:

What a sad person you are and clearly troubled ...I have never been unpleasant to you and as I have said before you should seek help....I appreciate you had issues in the Military and I am sad for your situation...


Your entire life is about being unpleasant to others. You have no right to be unpleasant to others just because your parents abused you.

Let's all be careful with the accuracy of the quoting brackets. I have made a correction above. Let's also stop this nonsense.

Share price here is moving up nicely with a nice portfolio of large US stocks 👍

I am particularly interested in Google that's on almost value P/E of 22
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Rookie Investor on 28/11/2024(UTC), Auric on 28/11/2024(UTC)
Rookie Investor
Posted: 28 November 2024 20:04:51(UTC)
#544

Joined: 09/12/2020(UTC)
Posts: 2,081

Thanks: 1341 times
Was thanked: 3627 time(s) in 1413 post(s)
Johan De Silva;327163 wrote:
John Bran;327072 wrote:
John Bran;327072 wrote:

What a prick no wonder your parents despised you.


Big boy;327068 wrote:

What a sad person you are and clearly troubled ...I have never been unpleasant to you and as I have said before you should seek help....I appreciate you had issues in the Military and I am sad for your situation...


Your entire life is about being unpleasant to others. You have no right to be unpleasant to others just because your parents abused you.

Let's all be careful with the accuracy of the quoting brackets. I have made a correction above. Let's also stop this nonsense.

Share price here is moving up nicely with a nice portfolio of large US stocks 👍

I am particularly interested in Google that's on almost value P/E of 22


Google still seems good value to me, perhaps market is concerned about regulations. But things like cloud growing fast. IMO their search moat is intact and won't get disrupted anytime soon.

Owned it for over 5 years and more than tripled my money.
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3 users thanked Rookie Investor for this post.
Raj K on 28/11/2024(UTC), Johan De Silva on 28/11/2024(UTC), Jay P on 28/11/2024(UTC)
Johan De Silva
Posted: 28 November 2024 21:00:20(UTC)
#545

Joined: 22/07/2019(UTC)
Posts: 4,414

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Was thanked: 10142 time(s) in 3362 post(s)
Rookie Investor;327166 wrote:

Google still seems good value to me, perhaps market is concerned about regulations. But things like cloud growing fast. IMO their search moat is intact and won't get disrupted anytime soon.

Owned it for over 5 years and more than tripled my money.


I've analysed the revenue and growth of several non-bank U.S. companies, and they are all exorbitantly priced by comparison. The reason I haven't made a direct investment is that I can acquire them at a discount through PSH. However, if I don't invest directly in Google now, it's a scenario where I know I'll regret it in retrospect. I would even consider the leveraged version.

The best time to have bought is under the 200-day average, but that may never come round again for some time; https://www.tradingview.com/x/C87z8ftf/
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Rookie Investor on 28/11/2024(UTC)
Rookie Investor
Posted: 28 November 2024 22:26:14(UTC)
#546

Joined: 09/12/2020(UTC)
Posts: 2,081

Thanks: 1341 times
Was thanked: 3627 time(s) in 1413 post(s)
Johan De Silva;327169 wrote:
Rookie Investor;327166 wrote:

Google still seems good value to me, perhaps market is concerned about regulations. But things like cloud growing fast. IMO their search moat is intact and won't get disrupted anytime soon.

Owned it for over 5 years and more than tripled my money.


I've analysed the revenue and growth of several non-bank U.S. companies, and they are all exorbitantly priced by comparison. The reason I haven't made a direct investment is that I can acquire them at a discount through PSH. However, if I don't invest directly in Google now, it's a scenario where I know I'll regret it in retrospect. I would even consider the leveraged version.

The best time to have bought is under the 200-day average, but that may never come round again for some time; https://www.tradingview.com/x/C87z8ftf/


Problem is PSH has like 10% in google? So you would need to buy individually for a meaningful stake. I think PSH sold some google recently, not sure for what reason, perhaps to raise money to buy Nike/BN?

Google i think is my largest single position if I look through google's inclusion in funds etc. Closely followed by Msft which held for 8 years.
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Johan De Silva
Posted: 04 December 2024 08:34:08(UTC)
#551

Joined: 22/07/2019(UTC)
Posts: 4,414

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Was thanked: 10142 time(s) in 3362 post(s)
We should be celebrating our success here as the discount has narrowed a little according to my data, and we are all in profit on buys done recently. But there is a long way to go and there is allot of US value stocks here, and US value has surely got to be compelling here as long as those stocks don't have much borrowings.

Google is a value stock imho, at least relatively to other growth companies sin the US.... @RR your right I need to get in, and I keep looking at it. I did hold BN directly but my investment principles on companies listed in main index's is to buy on discounts and avoid FX fees etc...We'll see.

The US value index is strong. Find the trend, the find the stock is a path to outperforming the index. So if the UK shows rampant demand we'll all know to pile into LTI.
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lindsay Morrison2 on 09/12/2024(UTC)
Johan De Silva
Posted: 08 December 2024 15:56:39(UTC)
#552

Joined: 22/07/2019(UTC)
Posts: 4,414

Thanks: 5918 times
Was thanked: 10142 time(s) in 3362 post(s)
"I have also begun the conversation with @UMG (on whose board I sit) which is domiciled in Amsterdam as well as listed there, about moving its domicile and its listing to the United States, which will offer similar as well as other highly material benefits.

Pershing Square has a contractual right to cause UMG to be listed in the US. We will exercise this right and achieve a US listing for UMG no later than some time next year.

UMG trades at a large discount to its intrinsic value with limited liquidity in significant part due to it not having its primary listing on the @NYSE or @NasdaqExchange and not being eligible for S&P 500 and other index inclusion. "
https://x.com/BillAckman...tus/1854890043548352932

With the buy backs and strong US market creating the ability to close a 30% discount, this is the best US value play outside of a single sector or stock bet. Its starting to have a little pull back.
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2 users thanked Johan De Silva for this post.
Sheerman on 08/12/2024(UTC), Raj K on 08/12/2024(UTC)
Raj K
Posted: 08 December 2024 18:52:04(UTC)
#553

Joined: 22/04/2016(UTC)
Posts: 2,819
Johan De Silva;328109 wrote:
"I have also begun the conversation with @UMG (on whose board I sit) which is domiciled in Amsterdam as well as listed there, about moving its domicile and its listing to the United States, which will offer similar as well as other highly material benefits.

Pershing Square has a contractual right to cause UMG to be listed in the US. We will exercise this right and achieve a US listing for UMG no later than some time next year.

UMG trades at a large discount to its intrinsic value with limited liquidity in significant part due to it not having its primary listing on the @NYSE or @NasdaqExchange and not being eligible for S&P 500 and other index inclusion. "
https://x.com/BillAckman...tus/1854890043548352932

With the buy backs and strong US market creating the ability to close a 30% discount, this is the best US value play outside of a single sector or stock bet. Its starting to have a little pull back.


I wish Ackman would just keep hush and execute things quietly. Really don’t think it’s cool to publicly talk about forcing UMG to relist. If indeed this is true they should have just done it behind the scenes. I think UMG have already said there is no such right. Who is telling the truth?
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