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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: accountclosed who wrote (56272)4/16/1999 11:41:00 AM
From: Knighty Tin  Respond to of 132070
 
AR, Gerry Tsai was my bosses's bosses's boss at American Capital. He ran the parent, American Can, which became Primerica, then Travelers, then Citigroup. He brought in folks he liked and destroyed my co, which had been the best mutual fund family in the country. He's good at that. <g>

absolutely. It made so much sense. Your conglomerate sells for 60 times eps. They use stock to buy a co. selling for 7 times eps at a huge 10 times eps. The new earnings are now capitalized at 60 times. Everyone is happy. The takeover shareholders make a huge profit and the conglomerate goes up due to "growing eps. This was the new pair of dimes and the old coots just didn't get it. <g>



To: accountclosed who wrote (56272)4/16/1999 1:39:00 PM
From: Eggolas Moria  Read Replies (2) | Respond to of 132070
 
I can recall when traders would say, "There's Tsai's block being sold."

Hehe, no they didn't have a clue if it were, but then their heirs told me last August that Buffett was selling AXP. <g> Some things don't change.


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