RE:RE:RE:Mittlemen 52 Week Portfolio Performance..HorribleSo maybe my assessment was a bit harsh, they do have some potential deep value plays here. I have my eye on NFI, and once their supply chain issues start to clear up I will jump in. Cineplex depends on if/when the masses return - I think content is the real driver for this, but streaming services are currently king.
My observation is that they appear to have a long term value realization horizon, and not a lot of their bets are paying off. They have been sitting on Revlon for years, for example. Given the cash reserves they do have already, I think it is a fair criticism that they have not done anything material with it in terms of their stated intent to purchase a profitable ongoing entity to utilize the tax credits.
Who knows, maybe Mithaq stumbled on it the same way we have, and are just looking for a quick double!
Hadituptohere wrote: Are either of you able to provide mithaqs performance over that same time period and the long term? I ask for the following reasons:
#1 I personally believe IGT and Cineplex are astoundingly cheap.
#2 Mittlemans historical performance coming out of bear markets is absolutely extraordinary.
#3 I think the catastrophe that is Revlon may still possibly produce an outstanding return from current levels. That industry typically values firms at 2x estimated sales, which is 4.5b. With less than 4.0 bil in net debt, there should be a fully recovery for that equity. That is, unless something underhanded and/or patently unfair occurs during the chap 11 process.
All I want is what will immediately produce the maximum upside in share price. I don't care who is running it, but removing Mitteman at this moment seems very ill timed and only makes sense if you can document up front that Mithaq has a history of doing better in these moments. Thank you.