What’s the deal with CANO CANO Health Inc. (CANO) has been in the event-driven / special sits bucket for about a year ever since activists agitated for a sale of the company. The stock shot up to ~$10/sh in late 2022, only to nosedive back to $1.5/sh as of the February 2023. Market’s pre-occupying concern […]
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The Opportunity Here is a Japanese net-net stock that popped on my radar. I should preface the following write up with the disclosure that I’ve only spend some brief time on this one because it won’t be a big position, but shall become a small constituent of basket of net-net stocks that I plan to […]
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IAC’s Public Stakes As of Jan 16, 2023, IAC’s publicly traded stock holdings comprise of 1) ANGI Inc. (ANGI) and 2) MGM Resorts International (MGM). ANGI Stake In ANGI, IAC owns 2,579,264 class A shares and 100% of ANGI Class B shares. Source: IAC MGM Stake In MGM, IAC owns 64,723,602 common shares, roughly 17% […]
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This is a continuation of series of posts on the SOTP valuation of IAC. This one covers the valuation on IAC’s Emerging & Others segment. Turo Valuation here Dotdash Meredith Valuation here Search Valuation here IAC’s Emerging & Other Segment IAC’s Emerging & Other segment currently consists of a collection of businesses under development. The […]
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I’ve previously explored on the valuation of Turo (see here) and the valuation of IAC’s Search segment (see here). This is a continuation of a series of posts on the SOTP valuation of IAC, exploring the valuation of Dotdash Meredith. What is Dotdash Meredith https://www.youtube.com/watch?v=fel_PtguJlE&t=1354sDotdash Meredith operates a portfolio of 40+ brands of digital content […]
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I’ve recently explored how much IAC’s stake in Turo was worth. See here.This one is on how much the Search segment within IAC is worth. IAC’s Search segment IAC’s Search segment consists of 1) Ask Media Group (a collection of websites, search engines, blogs) and 2) the Desktop business (a collection of legacy desktop browser […]
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IAC owns a ~27% equity stake in Turo As of the end of Q3/22, IAC holds a 26.7% interest in Turo on a fully diluted basis in the form of preferred shares. Turo is a privately owned company providing peer-to-peer car sharing marketplace akin to what airbnb provides for real estate rentals. Per Turo’s preliminary proxy […]
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The dollar went off the gold standard in 1971. From Sep 1980 to Feb 1985, the dollar rallied on its first bull run, which remains the longest and strongest dollar rally since the free float of the dollar. A couple of forces compelled the rise of the dollar during this period. First, the US fed […]
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The US dollar persists in its strength against all other currencies, because the overall narrative continues to point to the Federal Reserve as the most hawkish vis-a-vis all other central banks. Two weeks ago, right after I published the Jul 26, 2022 article on going long USDJPY, FOMC meeting announced the next day and the […]
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Something’s been happening in the currencies market. Of course I’m talking about USDJPY rocketing to the moon over the past 10 months or so. Why is it happening you might ask? And more importantly, how can one possibly profit from such a move? Well, let me break it down for you. First, my background on […]
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