Pershing Square Share Discussion Threads

[grahamg8] 11/6/2021 17:40

Vivendi might be a decent punt too. They get 3.5bn Euros to reduce debt or buy into their expanding entertainment and comms business: Canal + Group TV, Havas advertising, Editis publishing, Video games Gameloft and Live performances Vivendi Village. The shares seem to be 11% undervalued by my calculation.

[thruxie] 10/6/2021 17:42

I think the PSTH UMG Remainco PSTH2 deal is complex for some in the market to fathom, they don't seem to like uncertainty. However, I'm also convinced in years to come many will be kicking themselves they didn't buy. I've bought more PSH today, much as I like PSTH I like the discount to NAV through PSH more. :)

[kinbasket] 10/6/2021 16:40

I bought some Tontine today. I decided I wanted some direct interest outside of PSH. I think the downside is limited as UMG at 14.75 seems cheap. Goldmans has already put a higher value on it and I don't think I'll get a better chance to own a blue chip like UMG at this price. Plus I get the future optionality on all Bills deals at the same price he pays. Feels a bit like a thing I might regret not buying in a few years so I bought a few to tuck away.

[grahamg8] 10/6/2021 07:47

arja don't forget to change the xx to tt. It is possible to read in 'shadow' format without paying the subscription. An even more detailed analysis is on this link hTTps://s3.amazonaws.com/assets.empirefinancialresearch.com/static/Complexity+Creates+Opportunity+–+Our+View+on+PSTH.pdf

[arja] 09/6/2021 16:20

ok, but if chart shows a short term downtrend that is obviously bearish. Hoping it will turn around soon .

[rickyl1] 07/6/2021 22:12

Quite bullish actually. Sentiment starting to change and hopefully starts to translate in PSH terms soon, depending on market outlook overall obviously.

[arja] 07/6/2021 15:03

can not open link but presumably bearish for share price as down again today ! looking quite bad I guess and a big disappointment

[wish i wasnt in rbs] 07/6/2021 11:36

hxxps://www.barrons.com/articles/bill-ackman-spac-deal-universal-51622833744

[arja] 04/6/2021 19:08

Citywire cites the very high fees charged by the Trust managers is one reason for the huge discount to NAV . Might well be I guess and hoping the share price bounces a bit next week. Nioe weekend all

[grahamg8] 04/6/2021 17:19

kinbasket, you've been on the Vivendi site haven't you? Lots of information on the deal there. My take is that the Tencent consortium bought 20%, Tontine will have 10%, Vivendi retain 10% with lock in clause, and 60% shares are distributed to the Vivendi shareholders. Then Tontine distribute their 10% to their own shareholders leaving a cash shell SPAC/SPARC available to do another deal. With a newly listed 35bn Euro company from September the price action is likely to start then as fund managers try to buy into a must have share. Possible future dual listing in New York?

[ntv] 04/6/2021 16:40

out this morning

[thruxie] 04/6/2021 16:29

I think the target UMG is a good one. There's massive potential growth in music streaming revenues, just look at Song trust for an example. From todays press release: UMG has the following strategic attributes and competitive advantages: Number one industry market share in a stable competitive environment Iconic world-class management team Massive and growing total addressable market. Everyone loves music! Global consumer adoption of streaming will generate many years of high growth Irreplaceable owned IP and must-have content Predictable, recurring revenue streams that require minimal capital despite high growth Significant fixed-cost expense base allowing for long-term margin expansion Minimal financial leverage (<1x Net Debt / EBITDA) UMG will be the only uncontrolled, pure-play major music content company UMG will have an independent, high quality board of directors

[arja] 04/6/2021 11:43

was the news out today so bad for PSH as it has been hit after a good start ?

[wish i wasnt in rbs] 04/6/2021 11:03

anyone know what the relationship is between psh and psth?

[rickyl1] 04/6/2021 08:59

Probably neutral until the deal is done and the benefits to PSH are weighed up. A positive from me, 1.5b still left for another opportunity and automatic right to new Spac type company at nav being formed with up to 10.5b available to merge with.

[bmel] 04/6/2021 08:11

Well SAPC deal announced. We shall see what that does for the price.

[undervaluedassets] 03/6/2021 15:30

can someone tell me about the charges that are levied on this stock and how they are levied. the charges are giving me pause for thought.

[arja] 01/6/2021 14:55

really come off now and might be worth buying if it gets to 2620 level today .

[bmel] 01/6/2021 11:12

US futures showing a slow but steady improvement - should continue to increase our NAV.

[arja] 01/6/2021 09:46

certainly motoring today and in recent days . The trend is your friend applies nicely

[arja] 01/6/2021 09:18

disappointing that NAV has done nothing in last few weeks BUT it still trades as a big discount to NAV and chart looks good and might even get to all time high again in coming weeks .

[bmel] 26/5/2021 09:32

Ackman on CNBC with some commentary. Pretty positive. Says update on the SPAC deal within a couple of weeks - talks still ongoing. https://www.cnbc.com/top-video/

[grahamg8] 21/5/2021 07:36

kinbasket, Ackman is already on record for a big hedge against interest rate rises for exactly that reason. His presentation was very positive on a Tontine announcement in a 'few weeks'. I was most interested in some of the discussion articles on Dominos. Not innovative vs their competitors, same menu churned out year after year. But that is what Ackman looks for. Well established solid performer with a reliable income stream from a low asset base which you get with a franchise model. It's quite refreshing to have a business leader who says one thing and does exactly the same thing!