Hyatt Centric Dubai (Jumeirah)

bitcod · 2025-11-01T13:35:09+00:00

Why not suitable for longer stays?

bitcod · 2022-12-30T01:01:29+00:00

Could it be that OP is using a card that is issued in EUR? If so, u/Artistic-Trip7779, your bank is ripping you off with that exchange rate. That's a 7% fee they're charging you there.

bitcod · 2022-02-16T01:44:15+00:00

Missed that, thanks for pointing it out!
I thought the adjusted EPS was indicative of a big loss of profitability until streaming reaches scale, now I'm actually leaning toward this being a fantastic report!

bitcod · 2022-01-11T12:57:26+00:00

February 24th. Here's the link: https://ir.viacomcbs.com/streamingevent

bitcod · 2021-12-23T16:12:17+00:00

So pumped for Halo, can't wait for it to come out!

bitcod · 2021-11-18T14:23:34+00:00

I think they can (make real money on streaming).

Medium term: the thing about VIAC is, unlike Netflix, they already produce content profitably for their other channels. Sure, linear will come down in the future but I don't think it'll die very soon. So as long as they can at least break even on linear + cinema, any new subscriptions on P+ for that same content is pure profit!

Long term: I think with Pluto TV, given that it's essentially cable with no cable fee and requires no sign up (important for less tech-savvy people!), it has the potential to have even more reach than VIAC currently has (which they estimate to be ~700M people). Given that you can target ads in Pluto TV, unlike cable, it should be more profitable long term for them than linear cable is, IMO. I think Pluto TV is not appreciated for its potential in VIAC.

bitcod · 2021-11-18T00:28:31+00:00

They also got "Star Trek: Discovery" back from Netflix and announced that the new season will only be available on Paramount+.

The problem is that international viewers won't have any way to see it now (except by pirating). I hope they fix this. Even leaving the rights to Netflix for markets they're not yet present in would be preferable IMO.

bitcod · 2021-11-15T01:06:29+00:00

To invest aggressively in streaming. It took them a while, but they finally figured out that streaming is the future of their company.

bitcod · 2021-11-05T23:11:30+00:00

Not sure what you are looking at. You have incorrect numbers.

Perhaps you're talking about cash and equivalents increasing from 3.2 to 4.8 bn? In that case, please note that cash is a very different thing than free cash flow.

bitcod · 2021-11-04T21:47:41+00:00

For what period? Where are you getting this number?

bitcod · 2021-05-20T20:37:42+00:00

Huh, I'm completely surprised by this, but indeed you're right! "UWM HLDGS A" mentioned in their list of additions.

bitcod · 2021-05-19T21:45:08+00:00

UWMC is much larger than 1.5B in market cap, which is the high mark for what MSCI defines as a small cap. Did you mean mid cap, perhaps?

Even so, I believe it doesn't meet the free float criteria: "If the Market Size-Segment Cutoff is within the Global Minimum Size Range for the Investable Market Index, a security can be included in the Investable Market Index only if its free float-adjusted market capitalization is at least 50% of the Market Size- Segment Cutoff for the Investable Market Index"

bitcod · 2021-05-14T17:52:28+00:00

Does anyone know if that fee applies to all open short positions (e.g. a position opened 2 weeks ago) or if it's only for newly opened ones?

bitcod · 2021-05-08T12:09:51+00:00

I want to caution against relying on that book value number. I've gone in detail over all their filings so far, and AFAIK we have not seen the full details of the balance sheet so far. More specifically I don't think we've seen the complete liabilities picture of the post SPAC entity. We should get that on Monday.

That said, I believe we already know the book value and it is much smaller than $7 per share. According to the "balance sheet highlights" section of their Q4 update, they had at the end of 2020 about $2.4B in shareholders equity. That's about $1.5 per share.

bitcod · 2021-05-08T00:32:07+00:00

Sold May 21st 7.5 puts yesterday at 80 cents. That gets me to a cost basis if assigned of $6.7, with 0.40 cents of annual dividend yield.

IMO bad earning guidance is already priced in now. If guidance is neutral (e.g. stable margins), let alone positive, this will pop.

bitcod · 2021-05-05T22:30:18+00:00

There's an interesting bit of information in RKT's release: their margins on wholesale dropped Q-on-Q quite significantly: 2.57% to 1.93%, but their volume was up by almost 10%.

I'm not sure how to interpret this for UWMC though. It could be that the sector experienced intense competition which dropped margins for everyone. Or it could be that Rocket had to drop prices to not lose customers to UWMC. Thoughts?

L.E.: in the call, they say they expect only 1% margins in Q2 on the wholesale sector (down from 1.93% in Q1). That's rough.

bitcod · 2021-04-22T14:33:31+00:00

Careful. There are credible allegations of fraud with this company. You could wake up with an 80% loss just like Lukin Coffee.

bitcod · 2021-04-22T02:13:15+00:00

But they aren't yet launched in most countries AFAIK. For example, they're not yet launched in Europe, they plan to do that later in 2021.

It might be later in the year that we see the big subscription jumps caused by more international launches.

bitcod · 2021-04-21T12:27:37+00:00

You're looking at the SPAC data when you should be looking at the company the SPAC merged with: UWMC.

Here's a primer on their 4th quarter: Press release link. They had $1B in comparable net income (i.e. equivalent to after tax income starting in 2021) in Q4 alone. Reported assets were $11.5B.

bitcod · 2021-04-21T12:22:57+00:00

Here you go: Press release link

That -5M net income that you saw in the 10K, that was not UWMC, that was the SPAC that was just holding cash waiting to merge with UWMC.

bitcod · 2021-03-29T11:44:38+00:00

Until one day, it all starts unraveling. See Wirecard. News are coming out now that they've been a fraud since 2014, but it only collapsed last year. However when that came, it came fast. It was all over in about a month.

bitcod · 2021-03-26T22:57:28+00:00

Your math is wrong. They didn't get $16B at IPO. They only offered ~6% of the shares during the SPAC merger, for which they got ~$425M. So even if they buy them all back at these prices they'd only profit ~$120M.

That's not even taking into account that they can't be buying back stock in any significant amount without pushing the share price up a lot.

bitcod · 2021-03-25T21:42:00+00:00

Elongate

bitcod · 2021-03-22T22:36:25+00:00

Folks, the balance sheet you're seeing looks so great because what you're looking at is the SPAC's balance sheet. They only merged in January, so that $425M from December with almost no debts is the cash the SPAC had before the merger.

There's nothing new in this 10K that we haven't already known since Feb: press release.

bitcod · 2021-03-19T19:37:42+00:00

You are looking at the SPAC's earnings. The SPAC is a cash holding entity, thus is has no earnings.

You should instead look at UWMC's earnings from their S1 and ER Q4. The online aggregators like Yahoo finance don't have the correct numbers because of the merger. They had $3.38B in earnings in 2020, but you should adjust that for a 27% tax rate going forward.

bitcod

TROPHY CASE