Boston Omaha BOMN
June 08, 2017 - 4:06pm EST by
member
| 2017 | 2018 | ||||||
| Price: | 14.00 | EPS | 0.60 | 0 | |||
| Shares Out. (in M): | 13 | P/E | 23 | 0 | |||
| Market Cap (in $M): | 187 | P/FCF | 0 | 0 | |||
| Net Debt (in $M): | -107 | EBIT | 5 | 0 | |||
| TEV (in $M): | 80 | TEV/EBIT | 16 | 0 | |||
Description
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| # | AUTHOR DATE SUBJECT |
|---|---|
| 45 | |
Bluegrass - thanks for this. I had a similar thought but what’s been interesting is the surge in google searches for booking.com the last 2-3 quarters (Macquarie put out a good note on this yesterday... login to read the rest | |
| 43 | |
At least thats what Fogel said he was going to do... but think he might just be trying to game the system, per the 2 screenshots below:
| |
| 42 | |
Similarly look at the huge success BKNG is having right now shifting a chunk on their marketing spend away from digital back to physical. Interesting to see to leading internet models taking this approach. | |
| 41 | |
"The move illustrates how one of the most successful streaming media companies values physical advertising assets as it steps up its marketing efforts." Ive noticed NFLX aggressively advertising on interstate and urban billboards in my... login to read the rest | |
| 40 | |
"Amounts to be paid under the Plan provide for an incentive payment of up to 20% of the increase in adjusted stockholders equity in excess of a 6% increase in adjusted stockholders’ equity determined on... login to read the rest | |
| 39 | |
See table from final prospectus below. Post offering (which does not include any over allotment yet), Class A / B / total shares outstanding = 12,380,277 / 1,161,116 / 13,541,393. https://www.sec.gov/Archives/edgar/data/1494582/000119312517205676/d375000d424b4.htm#rom375000_15 | |
| 38 | |
Having some trouble getting on top of this. Do you have this figured out Bluegrass? BB doesn't seem to get it right. | |
| 37 | |
Thanks, trev. My question may not have been clear: Have they said anything about the percent of their activity (by capital deployment or similar measure) will be in minority investments? Because even private minority investments | |
| 35 | |
Thanks. I read that section as a statement that they will not pursue activitism, but in combination with the other quotes below, it seemed like part of their activities might involve minority public stakes, but... login to read the rest | |
| 34 | |
1. Yes
2. Directly: no. My sense is that Rozek is close to 100% of Boulderado.
3. No. Given their large personal ownership, management is more incentivized by intrinsic value per share growth over time. If they... login to read the rest | |
| 33 | |
Apples vs oranges. This management has currently and in the future will target control ownership in private companies, and is not planning to invest in public securities. "We do not currently intend to invest in publicly... login to read the rest | |
| 32 | |
Bluegrass,
What are your thoughts about the BOMN structure in the context of Charlie Munger’s answer to a question at the DJCO Annual Meeting this year in Oct 2017 (q&a below, from pg. 27-28 of the... login to read the rest | |
| 30 | |
...and your take would be wrong. They held the offering a day and sold 1 million shares (or +19%) more than originally planned. | |
| 24 | |
Appreciate Utah's framing and the sentiment check provided by the entire board here. Think all points have been fair. I laid out the investment merits and we'll see what happens. | |
| 23 | |
It is nothing more than a comment on the differences between funds and public investment companies, as well as Buffett copycatting while inserting generous goodies. I realize it's hard to extricate the circumstances from the... login to read the rest | |
| 22 | |
You must be new to the Internet | |
| 19 | |
Thank you!
B | |
| 17 | |
I have no comments on the investment merits of BOMN. But to help answer Barong's question, Adam launched his fund in November of 2005. Through 10+ years ended YE14 he averaged >21% gross. I'm guessing... login to read the rest | |
| 16 | |
:D | |
| 15 | |
I’m launching a new fund I would like you to invest in. I’m currently raising capital at a 50% premium to the fund’s current capital, which is primarily cash. I can’t... login to read the rest | |
| 14 | |
Per Peterson's EDGAR filings: ignoring dividends, using trading volume and pricing in the weeks leading up to the initial SC 13G/D event date as starting point, and using subsequent 13 disclosures as exit points (or... login to read the rest | |
| 13 | |
Any links to more background info on the CEOs and their track records would be appreciated. | |
| 12 | |
"why did you write this up right before it starts trading when you don't own it yet?"
Because I dont think my words can move markets, am more interested in protecting my capital (thus, seeking differing... login to read the rest | |
| 10 | |
You are an investment manager looking to put capital to work in a market widely deemed overvalued and much riskier than usual. In addition to cheap valuation, you have a variety of criteria you look for... login to read the rest | |
| 9 | |
These are good points. Generally speaking.
On the other hand, we could also ask: are there advantages to this structure vs a fund? Obviously. And if we assume that Adam and Alex are people of integrity... login to read the rest | |
| 6 | |
No one has ever been successful by brazenly aping someone else's strategy, style, communication, etc. The inability to find and trust one's own voice and instead mimic someone and aim for success-by-association speaks more loudly... login to read the rest | |
| 5 | |
fair enough utah1009. you make a good point.
that said, I can also assure this club that Adam's track record is solid. I cannot bear the thought of anyone lumping him in with Couchman, whom I | |
| 4 | |
I am making no comment specifically on these two men. I do not know them nor their records. But this playbook of Buffett-mimicking managers taking over public companies has recently not led to success or | |
| 3 | |
I have interacted with Adam and Alex in the past and find them both to be very thoughtful. I have also seen Adam's track record at Magnolia and I can assure you it is impressive. | |
| 1 | |
I am 100% convinced that people who can't make money running funds move to run small public companies like this (merchant banks, investment holdco's) so that they can distort their actual performance, take a dump | |