Value Investing News

Michael Lewis and David Einhorn team up on a couple of great articles:

Yesterday's SEC filings show that Bill Ackman has purchased approximately 7.5% of General Growth Properties' outstanding shares, throw in the total return swaps and Pershing's total exposure amounts to 19.9%. Before anyone gets too excited, please keep in mind that majority of Ackman's purchases took place in the 50 cent range.

Given all the turbulence in the market these days, we thought it would be appropriate to review a couple of Robert Cialdini's Universal Forms of Influence.

For those of you in a panic, a quick history lesson from Warren Buffett

Like Ackman, Chris Hohn seems to like both Mastercard and Visa. Visa appears to be a new position, while his previous stake in Mastercard has increased substantially. Hohn also seems to have increased his stake in the CME Group. These are classic Hohn picks, he seems to gravitate towards companies that possess monopolistic characteristics.

Terrific Letter.

Yesterday's 13F revealed that Bill Ackman sold most of his shares in Sears Holdings. Many of you may be wondering why. Fortunately, an article in Bloomberg sheds some light:

It's that time of year, and some of our favorite managers have just released their 13fs:

...so tomorrow is the big day. Chairman of the Board, Sardar Biglari, will meet with investors to further discuss his turnaround plan for Steak N Shake. Per Biglari's most recent letter, investors will receive greater detail on management formation, cost reductions, strengthening of the balance sheet, and overall strategy.

This week, Sellers Capital issued the following press release, titled: "Sellers Capital Demands Resignation of Premier Exhibitions' CEO Arnie Geller and Other Steps to Cut Costs and Increase Shareholder Value"