When we last checked in on Dan Loeb’s Third Point it was mid 2017 and the fund was cruising while also singing the praises of Baxter International (BAX). Unfortunately, 2018 was a rough year for the firm and performance, at -11.3%, lagged the overall S&P 500. Market Folly shares the fund’s recent Q4 mea culpa letter which offers… Read More »
Let’s kickoff the week with a few links: Yet Another Value Blog takes a look at the Liberty Braves Group (BATRA/BATRK) and sees some nice upside potential. Apparently, he also notes, so does Gabelli. It’s a good piece and among other things, includes a long section (which I tend to agree with) on why sports teams are undervalued. In… Read More »
Shire Pharmaceuticals (SHPG) announced last week that it will be “assessing strategic options” for its Neuroscience franchise. The move would allow the company to focus its efforts on its rare diseases division. From the company’s Q2 statement: With the acquisition and integration of Baxalta, Shire has solidified its leadership position in rare diseases with an unparalleled inline portfolio, innovative… Read More »