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April 01, 2011 – Comments (4) | RELATED TICKERS: ALEX

Here's an interesting bit of news.  One of the Market's biggeest gainers was a company called Alexander & Baldwin (ALEX).  The stock was up 19% on news that the world's most famous activist investor, Bill Ackman, has established a nearly 10% stake in the company.

So here's the funny part (I can laugh about it because it's not real money).  I have been bumping my head up against the 200 pick limit in CAPS lately, so I went though late yesterday trying to find a few positions to close so that I could add some new ones. Guess what one of those positions that I closed yesterday afternoon was...wait for it...ALEX @#$%^&*(% :).

I was in the green on it by 15% and I figured, I really didn't research this one very much and I'm not aware of any catalysts that will unlock value here anytime soon so I'll just close out of this one and bank the accuracy point.

Oops. Missed out on that 19% today.  Oh well.

Have a great weekend everyone.

Ackman’s Pershing Square Purchases 9.9% of Honolulu's Alexander & Baldwin


4 Comments – Post Your Own

#1) On April 01, 2011 at 7:12 PM, ikkyu2 (98.17) wrote:

Also in the A's, I closed my APP red thumb yesterday so I could harvest the accuracy point and repick.

It lost 21% on the open today!  Ack! 

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#2) On April 01, 2011 at 8:20 PM, MKArch (99.82) wrote:

I had a similar situation with JDSU a couple of months ago Deej. I added it a couple of years ago and it's one of those companies I would have just sold and taken a mild loss if it was real money but in CAPS I figured I'd wait to see if I could catch a break somewhere along the line have a chance to sell in while it's green and over 5% gain. I think it got to ~15% gain on a decent day and I happily ended that pick only to see a huge gain a day or two later on an earnings report that the street loved. I saw some sort of headline about JDSU tanking the other day so I probably did the right thing.

 If you get a chance I'm curious to hear your opinion about HRG going through with the Insurance company purchase. It sounds like a turn around story but maybe it's good for shareholders. At least we know where the money they raised went anyway.




ps: ALEX would have been my biggest gainer of the day except for CCME (not sure if CCME officially went to zero or it's just a glitch on the way to the pink sheets but I expect zero eventually).

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#3) On April 01, 2011 at 8:58 PM, dragonLZ (93.20) wrote:

Wow, I had no idea Alex Baldwin owned such a successful company.

I just hope Bill Ackman made sure Alex's brother Stephen is not a CEO or CFO... 

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#4) On April 01, 2011 at 10:55 PM, mhy729 (30.27) wrote:

Too bad Kim Basinger can't be the IR rep no more

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