SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Non-Tech : New Holland and the Ag Equipment Group
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: Michael Burry who wrote (24)10/9/1998 11:36:00 AM
From: jeffbas  Read Replies (1) of 113
 
Mike, I did the same thing. On the day they announced poorer results and the Fiat buyback, I bought after the stock looked stable, at 10 1/16 and again at 9 11/16 after it proved to have more downside. I wish I had switched everything into it as it has risen 20% and everything else I own has dropped with the market -- but income stocks are not my style and I did not buy a lot.

I agree with your assessment, plus the stock has a real "kicker". It was clear to me that in an institutionally owned stock where the average purchase price since the IPO was probably well over $20, it was highly unlikely that Fiat would be able to buy anywhere near the 50% of the stock they did not own without moving the price up handsomely. Also the dividend yield is more than Fiat can get on cash, which gives them an incentive to have the yield maintained and to buy the stock aggressively at these levels. Lastly, the buyback does not weaken NH balance sheet.
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News