Bronte Capital

The sometimes eccentric views of John Hempton

Saturday, February 28, 2015

An interpretation of the Herbalife result

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The Herbalife result had three elements - two bad, one good. The bad elements are (a). That volume fell - and quite sharply - minus 6 pe...
13 comments:
Tuesday, February 24, 2015

Maximus and outsourced unemployment services in Australia

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Maximus ( NYSE:MMS ) is a large cap and highly valued government outsourcing company based in Reston Virginia (outer suburban Washington). I...
5 comments:
Saturday, February 21, 2015

The epic Retrophin 8-K filing

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Martin Shkreli was formerly a biotech short-seller. I know those people. I am one. They have their eye out for the inflated claim re the e...
6 comments:
Thursday, February 19, 2015

Stock research on Spark Networks (jdate.com)

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We are having one of our irregular looks into Spark Networks - the owner of the profitable J-Date dating site (and the unprofitable "C...
13 comments:
Thursday, February 5, 2015

Mr Andy Z. Fan is better than you

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This is possibly the finest biography ever submitted to the SEC. [You can find the original here .] Background of Mr. Andy Z. Fan: ...
13 comments:
Monday, February 2, 2015

Dear Eurozone officials, Mr Putin is waiting

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The FT has a remarkable story today about how Eurozone officials are worried about Greece. To quote: " the fears of eurozone officia...
22 comments:
Wednesday, January 28, 2015

Bill Ackman is the Sabrina Rubin Erderly of anti-MLM campaigners

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There is plenty of nasty stuff that happens on university campuses - so Sabrina Rubin Erderly wrote a story about a rape at University of V...
32 comments:
Friday, January 23, 2015

Herbalife after options expiry - Part III: What is UBS's game?

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We now know one of the the new shareholders that Herbalife has after option expiry. My count is that there are more new and large shareholde...
14 comments:
Thursday, January 22, 2015

Herbalife after option expiry - Part II: counting shorts and longs

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With Herbalife at $31 then any puts that Ackman has (and we know the prices of them) are in the money so far that their delta is  almost one...
25 comments:
Tuesday, January 20, 2015

Vale Saxo Bank

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If this story in the Danish press is correct Saxo Bank is not long for this world. Good riddance. Hope the gamblers (ahem: customers) get ...
11 comments:
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