Chris DeMuth Jr Blog | Talkmarkets | Page 1
Partner, Rangeley Capital
Contributor's Links: Sifting the World

Rangeley Capital invests with a margin of safety by buying securities at deep discounts to their intrinsic value and unlocking that value through corporate events.

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A Good Bank Investment For 2017
The bank trades with a market cap of $86.52m at current prices, while my estimate for acquisition value is $158m.
M&A With The Enron Of Kansas
This one is a good opportunity which might turn into a great opportunity within the next year.
Avoid Amazon
Amazon offers competitors death and destruction. It has driven thousands of competitors out of business. Fortunately, Amazon tells you how to avoid its wrath.
The Long And Short Of Japan
The Bank of Japan just loosened monetary policy yet again, cutting interest rates below zero. Over time, this could be negative for the Yen and positive for equities.
The Warren Buffett Of Real Estate
Brookfield Asset Management (NYSE:BAM) CEO Bruce Flatt is the Warren Buffett of real estate. Today, shares cost only 71% of NAV. Management intends to reduce this discount through share buybacks.
Interest Rates Rise – Who Benefits?
The Federal Reserve finally decided to raise the base interest rate by 25 bps. The first thing to happen after the announcement was that banks raised their lending rates.
How To Fulfill A Vow Of Poverty
Need a convenient way to fulfill a vow of poverty? Invest in closed-end fund IPOs.
Like Selling Candy To Babies
Instead of paying your kids allowance, consider staking them in a business.
Don't Be So Negative
Germany just sold two-year government bonds at a -0.38% yield.
Safe 13% Annual Return With Rite Aid
On October 27, 2015, Walgreens Boots Alliance announced that they are buying Rite Aid for $9 per share in cash. The deal will probably close by next October.
Get A Manicure, Pedicure & Safe 14% Annual Return
Steiner Leisure is getting bought out for $65 per share and has a $1.57 net arbitrage spread in a deal that will probably close around year end.
H - HOT Opportunities
Starwood is selling their vacation ownership business to Interval Leisure after which they intend to sell the remainder of the company to Hyatt. A couple of opportunities present themselves.
Par For The Course
One of my four favorite long ideas in 2011 was Madoff bankruptcy claims at $0.30. They had significant upside due to the potential for additional recoveries from early investors.
When It Comes To Investment - Size Matters
I have very complex, mathy ways to size positions. But since I get asked a lot about sizing, here is a quick, dirty approximation for how it works in practice...
Don't Discount David Einhorn
David Einhorn has returned over 19% on an annualized basis since he launched his fund. He famously understood and exploited the precarious and risky nature of Lehman Brothers before it collapsed in a fiery wreck.
15% Annual Return With Home Properties
Home Properties (HME) announced a definitive deal in which Lone Star Funds will buy HME for $75.23 per share in cash. Under the merger agreement, HME may not pay further dividends except as required to maintain its REIT status.
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