Aimia Inc T.AIM

Mittlemen 52 Week Portfolio Performance..Horrible

[nozzpack]

The Holdings of the Mittlemen Investment Fund as of March 31/22 holdings and  with 52 week performance gains/losses is shown in the table below.

In short, it is simply unbelievably horrible with only one of their invrestments above water and the rest, especially those in the highest weightings, are all losing money with negative  margins and unlikley to see the sun for a while yet.

It is no wonder that AIM has never reached its latent value.
Its little wonder that that Chris Mittleman has been selling some of his AIM.....just to keep afloat.

Mithaq must be aware of the very poor investment skills of the Mittleman Clan.
They may remove Mitleman as the investment advisor.

On the other hand, Mittlemans losses from their own investment portfolio might force them to distribute a large cash dividend from the PLM cash windfall of Aimia.

The next 10 days to PLM final sale should be very interesting
 

Top 10 Holdings (excluding cash)
Aimia Inc. (AIM CN)	25.5%                       -7.5 %
AMA Group Ltd. (AMA AU)	23.1%                        -65.7 %
Greatview Asceptic (468 HK)	16.6%                      -51.5 %
Revlon Inc. (REV)	7.6%                         -65.0 %
Cineplex (CGX CN)	7.5%                          -30.7 %
International Game Technology PLC (IGT)	7.4%                          -23.0 %
ABS-CBN Corp. (ABSP PM)	4.3%                          +49.1 %
NFI Group (NFI CN)	2.5%                          -54.4 %
Bayer AG (BAYRY)	2.4%                           -3.2%
Viatris Inc (VTRS)	1.7%                           -27.7 %

Portfolio Characteristics
 

[Konaboy]

Bullseye on your assessment. Really hoping that we see full reflection of the cash holdings in the stock price at close of the transaction, I'm leaning towards a larger allocation on this. After close, let's hope that Mithaq has a) led them to an investment and b) will take a stong role.  These folks don't know how to pick a stock, and they certainly don't know how to manage

[Hadituptohere]

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

[nozzpack]

Good point. I cannot find the full slate of Mithaq's holdings but the four that I did find showed significant  investment declines over the last year. In that perspective, both Mithaq and Mittkemen would benefit from a large cash dividend by Amia. As for Mittkemen , most holdings companies do well coming out of a bear market. However, management 's statement that they would invest

[Konaboy]

So 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

[nozzpack]

Thank you. Mitaq purchases are of the order of $5 so they are motivated for premium returns.