by Erik Kobayashi-Solomon | Aug 17, 2014 | Commentary, Uncategorized
Source: Hedgeye.comThere are two main reasons why this investment did not work out for Ackman and his investors: overleverage and bad timing. This article–a follow-up to a previous posting–discusses these…
by Erik Kobayashi-Solomon | Aug 12, 2014 | Commentary, Uncategorized
Executive SummaryEven though Ackman?s investment in Target was unsuccessful, the option portion of the trade is well-documented, and an analysis of the structure of this investment is instructive.This article analyzes…
by Erik Kobayashi-Solomon | Aug 4, 2014 | Commentary, Uncategorized
On July 14, I published the Framework Investing Option Strategy Playbook. A reader, who has followed me since my Morningstar days, Carey C., sent in a question about the IOI…
by Erik Kobayashi-Solomon | Jul 27, 2014 | Commentary, Uncategorized
My ears perked up listening to Bill Ackman’s Herbalife presentation as he talked about his use of options as an investment vehicle in his bearish investment in the company. In October…
by Erik Kobayashi-Solomon | Jul 19, 2014 | Commentary, Uncategorized
It was just about a year ago that I presented at Vitaliy Katsenelson’s ValueX conference in the clean, clear air of Vail, Colorado.My presentation lays out the case for using…
by Erik Kobayashi-Solomon | Jul 13, 2014 | Commentary, Uncategorized
On May 2, 2014 (the spot labeled “A” in the diagram above), we sold calls struck at $41 and expiring on July 19, 2014 on the remaining 100 shares of…
