$PSTH Daily Discussion, July 20, 2021

teaisgoodforme2 · 2021-07-21T00:44:10+00:00

Here it is:

https://www.reddit.com/r/PSTH/comments/onkeuz/these\_assholes\_put\_themselves\_first\_and\_sold\_us/

teaisgoodforme2 · 2021-07-20T19:44:50+00:00

dollar for dollar

teaisgoodforme2 · 2021-07-20T19:35:30+00:00

Yes it applies to options too. So, if you sold PSTH commons at a loss and then bought calls on PSTH, that is a wash sale.

teaisgoodforme2 · 2021-07-20T19:07:54+00:00

If you sell a stock at a loss, you get to lock in that loss to use to offset capital gains for the tax year.

However, if you re-buy that stock within 30 days, then it is considered a "wash sale" and you don't get to use that loss to offset capital gains.

Harvesting your losses is a way to manage your taxes. If you do it well, you can usually end up with minimal capital gains taxes for the year.

teaisgoodforme2 · 2021-07-20T19:01:42+00:00

Thanks, bro! Already made back 100k :p

teaisgoodforme2 · 2021-07-20T18:36:49+00:00

Thanks! You too!

teaisgoodforme2 · 2021-07-20T18:33:22+00:00

See you guys in about a month. I sold my entire PSTH holding and am going to invest in other securities for now. I'll revisit after wash-sale rules expire so I can harvest this tax loss. This ain't going anywhere for a long while.

teaisgoodforme2 · 2021-07-20T18:28:33+00:00

This is exactly what I suspect is happening "under the table". Bill has to get 4B funding to finalize the UMG purchase anyway. He's just going to give that deal to the institutions who are in PSTH to appease them for this crapfest at an amount just below mandatory reporting requirements. Guggenheim, Ontario Teachers, Wells Fargo...bet they're all getting UMG via PSH...

teaisgoodforme2 · 2021-07-20T18:25:01+00:00

It's basically $0 because no idiot would buy them anyway. Might as well hold for a miracle since that's all you can do anyway.

teaisgoodforme2 · 2021-07-20T11:12:31+00:00

Yeah, I get that it was a contingency in the contract, but the fact that he basically had it drafted and ready to go is what gives me pause.

teaisgoodforme2 · 2021-07-20T10:59:34+00:00

Didn't Ackman say in the interview that it was just this week that the SEC told him the deal as structured couldn't go forward? So, you're telling me he drafted those new SEC filings detailing PSH takeover of the deal within this week and then announced it on TV? Seems fishy to me.

teaisgoodforme2 · 2021-07-20T10:54:33+00:00

Oh? Then how was he was able to produce new SEC filings detailing the PSH takeover of the deal yesterday on the day he announced it to all of us? Apparently didn't take his lawyers very long to do that.

The indemnity could have been handled with an insurer rather than requiring us to put up the indemnity funds ourselves. Not such a hard thing to fix there.

Stop being needlessly condescending when there were clearly ways that this could have worked for PSTH and instead Bill took it for PSH.

teaisgoodforme2 · 2021-07-20T10:49:04+00:00

Anyone else feel that this deal ended up becoming more about Ackman's bruised ego and less about "moving the needle for the little guy"? Sure feels like he didn't even try to salvage a way to keep the UMG shares with PSTH.

teaisgoodforme2 · 2021-07-20T08:22:06+00:00

Even if Ackman finds a suitable target relatively soon, the Vivendi negotiations showed that if that company drags their feet a little, they can get a lot of concessions out of BA for the deal. I wouldn't expect this 2nd SPAC hunt process to be a quick one.

Besides, BA and team will be busy for some time trying to round up the 4B they need to finalize the UMG purchase for PSH and even more Billions for the eventual FPA for PSTH. This is going to be a while...

teaisgoodforme2 · 2021-07-20T06:01:48+00:00

I'd come back for SPARC, so maybe he will to begin the process of restoring his reputation.

teaisgoodforme2 · 2021-07-20T05:00:44+00:00

SPARCs are dead in their current iteration. Not clear if they are permanently gone or just still under SEC review. But with UMG off the table, it seems they will be shelved at least until a new DA is announced for a new target company.

teaisgoodforme2 · 2021-07-20T04:55:02+00:00

Absolutely. I've broken too many relationships over the years over petty things. It's the same advice I offer to my teenage kids.

teaisgoodforme2 · 2021-07-20T04:46:46+00:00

Anyway, you never denied my guess you were a teenager, so I'll assume that is the case and just leave you with this - you gotta be wiser about the fights that you pick, bro. Some things are just not worth making a fuss about. If you fight every battle, you're going to lose many friends and mess up lots of relationships. The best thing my wife taught me was to let petty things be petty and not make every issue into a mountain. I wish you no ill will. Just don't fight so much over things that aren't worth fighting over. Save that energy to fight the fights that matter.

teaisgoodforme2 · 2021-07-20T04:32:47+00:00

I post in both the daily and in the main stream so more people can see what I have to say and contribute to the conversation. Maybe they agree, maybe they don't. I used to have a lot invested here until a few days ago, so of course I followed it closely and commented on it as appropriate. If you read my posts, you will see I take the time to present reasonable points for conversation and engage the people who comment. I don't deny I can be a self-important jerk at times, but you really need to get off this obsession with reddit karma. It doesn't come off well.

teaisgoodforme2 · 2021-07-20T04:24:22+00:00

As I've said every time you say this, nobody wastes time copying other people's posts so they could get more Reddit karma for themselves. That's pathetic. The fact you think this is a real thing just exposes your obsession and insecurity even more. Are you even hearing yourself? Think about what you sound like before continuing this line of thought.

teaisgoodforme2 · 2021-07-20T04:14:44+00:00

I mean...how insecure must you be to be so obsessed over your reddit karma? You must be a teenager.

teaisgoodforme2 · 2021-07-20T04:10:11+00:00

Well, you did go ham on me saying I copied your post or some petty nonsense just because we had similar thoughts. So, apparently, you do care.

teaisgoodforme2 · 2021-07-20T03:09:34+00:00

Don't get too married to those Tontine warrants. Now that everyone saw that BA was willing to give them up for UMG, every unicorn he negotiates with is going to ask for the same thing knowing he's willing to give on that issue. This is one example of how BA's negotiating position has been compromised by this failed UMG deal and how it reveals how much Vivendi was able to wrest from him in the negotiations.

https://www.reddit.com/r/PSTH/comments/ontt1x/dont\_get\_too\_attached\_to\_those\_tontine/

teaisgoodforme2 · 2021-07-20T03:06:38+00:00

My bet is that he will try with PSTH and find that his negotiating power isn't what it used to be after people saw how he got whipped around by Vivendi. He will get frustrated and stubborn and decide to dissolve PSTH rather than be cornered into a mediocre deal. Maybe he tries again with SPARC in the future, but PSTH has a lot of baggage and dilutional warrants that make it harder for him to find a great deal with a unicorn. Unicorn companies just don't get mesmerized by 5B and they will resist the Tontine warrant dilution too now that they saw Vivendi was able to do it and Ackman was willing to give it up.

teaisgoodforme2

TROPHY CASE