A wonderful read on the great qualities that make Charlie Munger so unique. Exceptionally well written.
The Russell 3000 index will go through its annual rebalancing on June 25. One of the additions will be GGP. This will increase demand for the shares as funds and ETFs that mimic the index will need to buy shares of GGP. This is just the beginning of the demand for GGP from indexes, funds, and ETFs.
Update: The initial post said Russell 1000 but it is actually Russell 3000.
Had a conference call with the management today and I walked away with more questions and concerns. Their cash flow still seems strong and the Ethernet exchange business looks to be a valid growth opportunity. Although I’m taking out the cash until I can get comfortable with the pricing issue related to their voice business.
– Pershing Square Q1 Letter: Great read for GGP investors
– Ackman’s IRA Sohn Conference presentation: Slide 41 of interest to GGP investors
– As China’s Wages increase, export prices could follow: NY Times article on China and coming inflation
This is actually an old purchase that I had sold out of. Today’s press release confirmed my initial thesis on the investment. I bought a very small stake, less than 1%, on PLL today. The company has started shipment of iron ore and figured out all the parts of getting the product shipped to the port, Richmond, CA. The first shipment should be completed by July 2010. If all goes well, we can see major increase in shipment.
The GOM disaster has created a great buying opportunity in ATPG. The shares have been hit hard and insiders have been buying up in hords. I doubled down today.