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Category: Premium Articles
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Subs: Tuesday’s Links
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Subs: Interesting Oil Trends…..
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Subs: Treasury Letter
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Subs: TopGolf Value Climbing
We previously estimated ELY’s stake in TopGolf at $246M. With this investment the company now estimates their stake to be worth $290M. It is also worth noting they are increasing their stake in the company ands that is a fantastic sign. This is the first time they have publically put a number on their ownership. The TopGolf stake now represents 21% of the total market cap of ELY and this remains a hidden asset so few know about.
We are up 80% in this investment to date and I think we have plenty more upside
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Subs: Pipeline A Go…..
This is unfolding as expected……I still highly doubt Mnuchin will let the government’s warrants, which could be worth $50-$70B become worthless. The only way for that to happen is for the common stock to retain value.
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Subs: Layer 3 Sold
Franklin has been very opportunistic in his purchases stepping in each time the stock drops
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Subs: Howard Hughes News
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Subs: Reality Sinking In
For the last 10 years we’ve heard one ideologue after another say the GSE’s should be wound down. After several plans were floated it seems even the most hard core of the naysayers is coming to a simple reality……….they can’t go away