EBITDA on-track to $130 mm. Continues to be significantly undervalued...and still no one cares. Thinking about adding to the already significant holding.
3 comments:
Anonymous
said...
Suggest you do your homework on the management of BBX, Alan Levan in particular, with regard to BankAtlantic and its performance in the financial crisis. There is an SEC complaint you can find by googling his name an BankAtlantic.
Anon - I hear you. Not a fan of management myself and I agree it's kind of a hope trade on them doing the right thing. The trial is wrapping up at the end of November and I'm expecting a 5-20 mm fine. The merger should close shortly after, and I look forward to selling by then.
...and you are right. I sold them at loss today on the back of the broken thesis. Did not expect the termination and it was a big mistake. Will revisit once the merger actually closes - will I be 3 years older by then?
3 comments:
Suggest you do your homework on the management of BBX, Alan Levan in particular, with regard to BankAtlantic and its performance in the financial crisis. There is an SEC complaint you can find by googling his name an BankAtlantic.
Caveat Emptor.
Anon - I hear you. Not a fan of management myself and I agree it's kind of a hope trade on them doing the right thing. The trial is wrapping up at the end of November and I'm expecting a 5-20 mm fine. The merger should close shortly after, and I look forward to selling by then.
...and you are right. I sold them at loss today on the back of the broken thesis. Did not expect the termination and it was a big mistake. Will revisit once the merger actually closes - will I be 3 years older by then?
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