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64	member 5/24/18 5:20PM EVI
Envirostar (EVI) is BOMN on steroids. It trades at 8x book value and the book value is entirely money they have raised and made acquisitions with in the past 2 years. $439 million market cap 2 view available tags
61	member 4/04/18 2:51PM +13% Today
Any reason why? Some other feature on these guys in a financial publication? I also wanted to mention to you that I thought this was a great idea with some very bad luck. I think shorting... login to read the rest 1 view available tags
60	member 2/25/18 6:59PM Re: Re: Latest Deal 46
Bowd, I just saw your earlier question about the structure of the investment in DF Holdings ("what the heck is this and what's the point?"). A performance-based adjustment to the purchase price like this can be used... login to read the rest -1 view available tags
59	member 2/25/18 4:12PM Re: one thing I dont understand.. 58
You're right that capital raises don't count towards incentive compensation, but I think milehigh's point was that there hasn't been any value creation here despite the fact that financial data providers will show increases in... login to read the rest 1 view available tags
58	member 2/25/18 3:26PM one thing I dont understand..
Isn't the MIBP excluding issuances from compensation? Yes Book value increases by issuance - but shouldnt that be accounted for? see Def14 The MIBP provides for a bonus pool, determined on an annual basis by the Compensation Committee... login to read the rest view available tags
54	member 2/23/18 9:54AM Re: Private Placement 53
By investing through their funds they each get paid twice, with no high water mark on the comp from BOMN. The price they invest in doesn't matter as it relates to the comp from BOMN... login to read the rest 4 view available tags
53	member 2/23/18 9:01AM Private Placement
Boston Omaha announced a $150mm private placement to Magnolia Group and Boulderado Group at $23.30 per share late last night. Why would Rozek and Peterson do this at that price? One would think they could... login to read the rest 1 view available tags
52	member 2/12/18 8:07AM Re: Re: Shelf 51
the stock has fallen fallen 40% in the past month so maybe there is some profit taking by shorts. Also, the atm was not effective until today so will be interesting to see how the view available tags
51	member 2/11/18 4:30AM Re: Shelf 50
stock reaction has been somewhat puzzling, no? $50m atm offering and BOMN significantly outperforms the market in the following week... -1 view available tags
50	member 2/02/18 5:20PM Shelf
For those of you not at your screens on a friday night at 5pm, BOMN just filed a $200 mixed shelf and $50 atm equity offering with cowen 6 view available tags
49	member 1/31/18 9:35AM Re: Book Value 48
I don't beleive that the recent deals will have changed book value much. TBV may have fallen a bit, as some of the purchase prices may have been allocated to goodwill. If they did good... login to read the rest view available tags
48	member 1/29/18 11:35AM Book Value
Any thoughts as to what the true book value per share is now post the most recent deals? Thanks view available tags
41	member 1/05/18 11:54AM Re: Re: When To Cover? 39
WHAT WOULD JESUS DO...OR WHAT WOULD WARREN DO? We short a lot of small/micro cap stocks, including this one (thanks milehigh) and our take is: 1) It seems the momentum that drove the stock up has dried... login to read the rest view available tags
39	member 1/05/18 5:06AM Re: When To Cover? 38
I'm also short but my bet is they don't do a new equity raise anytime soon. You mentioned fiducioury duties but I doubt executives really have a duty to sell new equity whenever they think the... login to read the rest view available tags
30	member 12/28/17 10:21PM Re: Re: Any Fiduciaries/CFAs Ouf There? 29
Think you mean LOAN Best part is those guys gave themselves like 1/2 of the company for free in new equity after the hard money loans started working... view available tags
26	member 12/28/17 8:50AM Re: Companies Having Something To With Omaha 25
it's actually 3.25x view available tags
22	member 12/28/17 3:19AM Re: Land Wars In Asia ... 19
Really? I'm not short but you think it's plausible that they compound BV at 15% (gross) while US markets return less that 7% annually? So if markets do 6% then those two beat by 9% per year? How... login to read the rest view available tags
18	member 12/22/17 12:55PM Re: Re: Re: Did BOMN make a blockchain or something? 17
Thanks for the color view available tags
17	member 12/22/17 12:46PM Re: Re: Did BOMN make a blockchain or something? 16
I don't see any news to justify the stock up. But to state the obvious, the valuation of BOMN is completely divorced from reality given that it's loss making and trades at 2.7x P/B. I spent... login to read the rest 1 view available tags
16	member 12/22/17 12:34PM Re: Did BOMN make a blockchain or something? 14
There was a WSJ article today drawing attention to the Buffett angle. While I stand by my analysis, this has obviously been a bad short idea thus far. If these guys were smart (and I think... login to read the rest 1 view available tags
15	member 12/22/17 12:32PM Re: Did BOMN make a blockchain or something? 14
Probably the WSJ article. A Buffett-Run Firm Is on a Roll, but Warren Has Nothing to Do With It Shares in a small company tied to Alex Buffett Rozek have nearly doubled since listing in June, outpacing... login to read the rest view available tags
14	member 12/22/17 11:56AM Did BOMN make a blockchain or something?
The stock is up 14% right now. Does anyone have an idea why? 1 view available tags
13	member 12/13/17 11:48AM Re: Re: Re: Incentive fees on incentive fees 11
Given that there have been a number of positive comments about the integrity of the HF managers, I would be surprised if they were collecting incentive fees from their LPs on the appreciation of the... login to read the rest view available tags
11	member 11/26/17 1:38PM Re: Re: Incentive fees on incentive fees 10
I think the only way to figure out if they're not taking incentive fees at their hedge funds is to ask Peterson/Rozek directly as I don't think it would need to be included in a... login to read the rest 2 view available tags
9	member 11/24/17 1:10PM Incentive fees on incentive fees
This just gets better and better. As of 9/30, more than 40% of Magnolia Capital is invested in BOMN (obviously more given the recent run up) . So not only does Peterson get incentive fees... login to read the rest 14 view available tags
8	member 11/22/17 7:45PM Acquisition
Bought a tiny insurance company that is so small terms weren't disclosed. I bet the next deal will be for a minuscule candy company. Sardar Biglari executed on buying a tiny insurer, but couldn't avoid... login to read the rest 3 view available tags
7	member 11/17/17 1:46PM Re: Re: Re: Re: Re: Re: Paying for managers 6
I think they should merge with Conduit Capital, Kingsway Financial, and Biglari Holdings to form a Voltron-like supergroup with declining bvps 19 view available tags
6	member 11/17/17 12:14PM Re: Re: Re: Re: Re: Paying for managers 5
I believe BOMN is taxed as a normal US corporation. My understanding is that BOMN's focus will be on buying operating businesses rather than publicly-traded securities. On your second question, here is a correspondence from the... login to read the rest view available tags
5	member 11/09/17 8:42PM Re: Re: Re: Re: Paying for managers 4
i'm curious how this entity is taxed? if corporate tax rates go to 20%, what are the limitations of setting up publicly traded companies to be primarily vehicles for investing in common stocks (how much passive view available tags

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			2017	2018
Price:	19.50	EPS	0	0
Shares Out. (in M):	14	P/E	0	0
Market Cap (in $M):	280	P/FCF	0	0
Net Debt (in $M):	-100	EBIT	0	0
TEV (in $M):	180	TEV/EBIT	0	0
Borrow Cost:	Available 0-15% cost

Description

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