Rahim Ismail

Voracious reader, investor, healthcare professional

[Rahim Ismail @RahimSIsmail]

@nbeachny This is helpful, thanks! I guess if a slightly worse projection is enough to throw the thesis, then the margin of safety isn't there anyway. I'll figure it out. Appreciate your thoughts

[Rahim Ismail @RahimSIsmail]

@nbeachny Trying to validate my NLOP estimates. How did you calculate yours? Looks like people have similar values but mine are different so trying to see what I'm missing.

[Rahim Ismail @RahimSIsmail]

@nbeachny So WALT and ABR/sqft in terms of asset quality? E.g., ur estimate for iHeart is 23M (~9% cap rate), but other recent comps with similar WALT have cap rates btw 12-15% (Thermo Fisher & Cohesity). Or, what drives the difference between Arbella and ICF?

[Rahim Ismail @RahimSIsmail]

@kingdomcapadv @larry_bukowski How you setting these cap rates, and what's your confidence in them? E.g. Properties they've sold with a similar ABR/Sqft to iHeart sold for a cap rate between 13-14%

[Rahim Ismail @RahimSIsmail]

@MichelleRempel The only reason they're doing it is to prop up the housing market via propping up rents. They previously said it was because there were too many job vacancies - obviously now that excuse doesn't hold water.

[Rahim Ismail @RahimSIsmail]

@stockspinoffss LEN really only needs to buy the land if the value doesn't go down. That means upside is capped. Millrose is essentially a covered call on land. Proceeds from LEN will be used to buy more land. Explicitly WILL NOT return capital to investors. Almost like an "anti-catalyst".

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[Rahim Ismail @RahimSIsmail]

@ToffCap How are you getting 850m in lease liabilities, earn outs, etc? It's weird because $VIV previously said there would be negligible debt, but it seems the prospectus says otherwise - I'm getting 1140m

[Rahim Ismail @RahimSIsmail]

$VIVHY $VIV. This is fast. Looks like Bollore wants to keep the share price low so he can keep acquiring Vivendi and subs. Minimize free float by doing buybacks before he hits the limit where he has to submit a mandatory offer. This might be good - deadline is tomorrow.

[Rahim Ismail @RahimSIsmail]

@ayeteas @stockspinoffss Was looking at $WDC today - @stockspinoffss has done a great job covering it. I just dont see it (at least until I get more info). Thesis relies on $STX comp, but full cycle earnings yield on STX seems like it's the lowest it's been in a long time.

[Rahim Ismail @RahimSIsmail]

@stockspinoffss @ayeteas Agreed. Given the disparity between value for the Parent, sold $SNRE early and bought more shares of $LBTYA

[Rahim Ismail @RahimSIsmail]

@marginofdanger Mgmt could just sell non-core assets to fund this. My guess is they think there's going to be cost overruns, and it's easier to raise the money now with a grand vision, and then sell the non-core offerings later for more cash.

[Rahim Ismail @RahimSIsmail]

4/4 Their new focus is predictable service revenue, yet it's not growing—likely due to lack of demand. Happy to change my view if you can refute these points!

[Rahim Ismail @RahimSIsmail]

1/4 I've seen $BRMI.TO touted as a solid risk/reward due to its large cash position providing downside protection. I don't see it. Here's my take:

[Rahim Ismail @RahimSIsmail]

3/4 Their content strategy remains uncertain, potentially due to company-specific issues (poor content) or broader industry factors (unsalable content). While they have cash to survive, they lack a proven track record of producing hits without acquisitions.

[Rahim Ismail @RahimSIsmail]

@cityofhamilton @HamiltonPolice My partner and I got married last weekend, stopped by a park across from 1073 Beach Blvd to rearrange some wedding items in the car. Garment bags containing wedding dress and suit fell out unnoticed. Is there a lost and found??

[Rahim Ismail @RahimSIsmail]

@ragingbullcap - Mgmts paid a ton in cash, not equity
- restaurant biz lost money even operating at full capacity (2022) - hard to get a read on normalized earnings
- strategy to convert office to hospitality will require a ton of capex (assuming that's why they hired this CEO)

[Rahim Ismail @RahimSIsmail]

@ragingbullcap Quick q: What's in $ENZ's "Corporate & Other" SG&A? Since it's only one segment, I don't understand why it's separate. I see cash burn slowing, but can't get myself to make assumptions without knowing the cause of the burn...

[Rahim Ismail @RahimSIsmail]

@MudlarkCapital @HoustonGasCo @ragingbullcap Quick q: What's in $ENZ's "Corporate & Other" SG&A? Since it's only one segment, I don't understand why it's separate. I see cash burn slowing, but can't get myself to make assumptions without knowing the cause of the burn...