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Pershing Square Holdings (PSH)
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Big boy
Posted: 11 February 2025 16:51:53(UTC)
#655

Joined: 20/01/2015(UTC)
Posts: 6,673
Raj K

As a FM manger part of my daily (sometimes hourly) DD was ranking my portfolios from "cheap" to "dear" etc. Clearly increasing the cheap and reducing the dear. As the "dears" increased and "cheaps" reduced I would of course go into cash until the "cheap" holdings reappeared. I think Warren Buffet does this with Apple holding.

Do you have the rankings for the PSH portfolio??? I appreciate he is not willing to tell you what he is about to sell but it may help to know when a stock is overvalued relative to his other holdings. ..

added.17.03 ps. yes I am a shareholder in PSH and have been for a number of years as clearly I buy undervalued IT/ICs after I have completed my DD based on facts not fiction.

I tend to go very overweight about 35% and reduce about say mid 20s discount. Hopefully this enables me to add value as mathematically it seems logical. ie 10% uplift even on falling or rising SP.
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Raj K
Posted: 11 February 2025 17:01:30(UTC)
#656

Joined: 22/04/2016(UTC)
Posts: 2,818

Thanks: 6460 times
Was thanked: 6651 time(s) in 2090 post(s)
Big boy;333971 wrote:

Raj K

As a FM manger part of my daily (sometimes hourly) DD was ranking my portfolios from "cheap" to "dear" etc. Clearly increasing the cheap and reducing the dear. As the "dears" increased and "cheaps" reduced I would of course go into cash until the "cheap" holdings reappeared.

Do you have the rankings for the PSH portfolio??? I appreciate he is not willing to tell you what he is about to sell but it may help to know when a stock is overvalued relative to his other holdings. ..


Yes i have rankings....but i wont disclose them as i have the skills and knowledge built up over 20 years and was the top performing DD advocate in my home town. This performance was audited and publicly disclosed...

Edit: You should watch now as Bill is actually stating what he does after he has bought a stock. when he buys more, trims and sells....
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1 user thanked Raj K for this post.
Big boy on 11/02/2025(UTC)
Big boy
Posted: 11 February 2025 17:12:36(UTC)
#657

Joined: 20/01/2015(UTC)
Posts: 6,673
Raj K;333973 wrote:
Big boy;333971 wrote:

Raj K

As a FM manger part of my daily (sometimes hourly) DD was ranking my portfolios from "cheap" to "dear" etc. Clearly increasing the cheap and reducing the dear. As the "dears" increased and "cheaps" reduced I would of course go into cash until the "cheap" holdings reappeared.

Do you have the rankings for the PSH portfolio??? I appreciate he is not willing to tell you what he is about to sell but it may help to know when a stock is overvalued relative to his other holdings. ..


Yes i have rankings....but i wont disclose them as i have the skills and knowledge built up over 20 years and was the top performing DD advocate in my home town. This performance was audited and publicly disclosed...


Thank you and I am pleased that you have become a top decile performing Manger ...not that many of us around these days...

I am trying to be helpful but appreciate I can try to hard to explain how the skills of a good FM. can add value. Enjoy your evening and have many happy investing days ahead.
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Raj K
Posted: 11 February 2025 17:40:14(UTC)
#662

Joined: 22/04/2016(UTC)
Posts: 2,818

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Big boy;333976 wrote:
Raj K;333973 wrote:
Big boy;333971 wrote:

Raj K

As a FM manger part of my daily (sometimes hourly) DD was ranking my portfolios from "cheap" to "dear" etc. Clearly increasing the cheap and reducing the dear. As the "dears" increased and "cheaps" reduced I would of course go into cash until the "cheap" holdings reappeared.

Do you have the rankings for the PSH portfolio??? I appreciate he is not willing to tell you what he is about to sell but it may help to know when a stock is overvalued relative to his other holdings. ..


Yes i have rankings....but i wont disclose them as i have the skills and knowledge built up over 20 years and was the top performing DD advocate in my home town. This performance was audited and publicly disclosed...


Thank you and I am pleased that you have become a top decile performing Manger ...not that many of us around these days...

I am trying to be helpful but appreciate I can try to hard to explain how the skills of a good FM. can add value. Enjoy your evening and have many happy investing days ahead.


Your way of investing isn't the same as every body else's. Seems quite similar to our friends at SABA however.

Anyway the point of me buying PSH is to be part of a vehicle that achieves long term compounding. I have to trust that the manager over time will be doing the necessary DD to ensure a good result. I have no reason to believe Ackman has veered of that path. I can't analyse every company they own in the depth they do. I can listen to what they say and see if it makes sense. In some case i may even do some analysis into a few of the indivdual comapanies.... Ackman has 43,000,000 shares of PSH . Other members of the investment manager have significant amounts. I am happy they would want a good result for PSH too.

When you sell your shares at a mid 20's discount i would be happy to buy.
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8 users thanked Raj K for this post.
Big boy on 11/02/2025(UTC), Sheerman on 11/02/2025(UTC), Newbie on 11/02/2025(UTC), Rookie Investor on 11/02/2025(UTC), Jay P on 11/02/2025(UTC), Auric on 12/02/2025(UTC), Peter61 on 12/02/2025(UTC), John Bran on 19/02/2025(UTC)
Rookie Investor
Posted: 11 February 2025 18:07:21(UTC)
#663

Joined: 09/12/2020(UTC)
Posts: 2,081
Good points Raj investing for the long term based on judgement about companies, after all that is what investing really is.

Does anyone have a link to the presentation as I could not attend? Or what were the main points, especially when it came to Uber? I am on the fence with Uber, which is perhaps concerning due to PSH having 20% in the company. Key thing is the runway for further growth given they already are in 70 countries, and there are costs when entering new markets or expanding in existing.
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Raj K
Posted: 11 February 2025 18:20:47(UTC)
#664

Joined: 22/04/2016(UTC)
Posts: 2,818

Thanks: 6460 times
Was thanked: 6651 time(s) in 2090 post(s)
Rookie Investor;333992 wrote:
Good points Raj investing for the long term based on judgement about companies, after all that is what investing really is.

Does anyone have a link to the presentation as I could not attend? Or what were the main points, especially when it came to Uber? I am on the fence with Uber, which is perhaps concerning due to PSH having 20% in the company. Key thing is the runway for further growth given they already are in 70 countries, and there are costs when entering new markets or expanding in existing.




https://assets.pershings...vestor-Presentation.pdf

The presentation slides. Im sure the replay of the broadcast will come in due course.
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3 users thanked Raj K for this post.
Rookie Investor on 11/02/2025(UTC), Newbie on 11/02/2025(UTC), CPCC on 11/02/2025(UTC)
Rookie Investor
Posted: 11 February 2025 20:09:08(UTC)
#665

Joined: 09/12/2020(UTC)
Posts: 2,081
Raj K;333994 wrote:
Rookie Investor;333992 wrote:
Good points Raj investing for the long term based on judgement about companies, after all that is what investing really is.

Does anyone have a link to the presentation as I could not attend? Or what were the main points, especially when it came to Uber? I am on the fence with Uber, which is perhaps concerning due to PSH having 20% in the company. Key thing is the runway for further growth given they already are in 70 countries, and there are costs when entering new markets or expanding in existing.




https://assets.pershings...vestor-Presentation.pdf

The presentation slides. Im sure the replay of the broadcast will come in due course.


29x forward earnings is it currently trading - seems analysts expect 60% increase in earnings, which I think around 12% increase in gross profit, assuming no fixed cost increase. Seems reasonable. They seem to think stock can double in few years. Will require some decent growth, which I guess will need to come from new markets, which requires capex.
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John Bran
Posted: 19 February 2025 10:03:54(UTC)
#666

Joined: 01/09/2017(UTC)
Posts: 2,123
A question from financial Times on why SABA haven't gone for pershing Square

https://www.ft.com/conte...-4d63-b22c-873b1b157dbd

I accessed this article as its not or wasn't behind a pay wall.
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John Bran
Posted: 19 February 2025 10:08:40(UTC)
#661

Joined: 01/09/2017(UTC)
Posts: 2,123
Big boy;333976 wrote:
Raj K;333973 wrote:
[quote=Big boy;333971]..


Thank you and I am pleased that you have become a top decile performing Manger ...not that many of us around these days...
.

Not that many of you ever existed.
You provide no proof of this because your lying.
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John Bran
Posted: 19 February 2025 10:18:36(UTC)
#658

Joined: 01/09/2017(UTC)
Posts: 2,123
Big boy;333976 wrote:
[quote=Raj K;333973][quote=Big boy;333971]
Raj K

I am trying to be helpful but appreciate I can try to hard to explain how the skills of a good FM. can add value. Enjoy your evening and have many happy investing days ahead.


Another lie you talk down to other posters because you consider yourself more important and more knowledgeable which clearly your not.
Buy investment trusts on a discount sell before they go to par. Wow how clever are you?

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