tag:blogger.com,1999:blog-8610894719881071116.post6971201050724669365..comments2024-03-25T09:37:28.210-07:00Comments on Value Seeker: Investment Notes: LiLAC (LILA/B/K) - Liberty LatAm - 287 slides [09/02/2016]Value Seekerhttp://www.blogger.com/profile/15109928780244476972noreply@blogger.comBlogger28125tag:blogger.com,1999:blog-8610894719881071116.post-20847734763118224242022-02-23T22:47:16.497-08:002022-02-23T22:47:16.497-08:00Thank you for this information..
Please click the ...Thank you for this information..<br />Please click the link to get the highest returns on your investment.<br /><br /><a href="https://aspirealty.com" rel="nofollow"><b>Open Plots in Hyderabad - Aspirealty </b> </a> <br /><a href="https://aspirealty.com/plots-for-sale-at-lemoor-near-tukkuguda" rel="nofollow"> <b> Open Plots for Sale Near Tukkuguda @ Srisailam Highway - Aspirealty Advaith</b> </a> <br /><a href="https://aspirealty.com/amogh-near-mak-projects-srisailam-highway" rel="nofollow"> <b> Open Plots for Sale Near MAK Projects @ Srisailam Highway - Aspirealty Amogh</b> </a> <br /><a href="https://aspirealty.com/plots-in-tukkuguda-kingsdell" rel="nofollow"> <b> Open Plots in Tukkuguda - Aspirealty KingsDell </b> </a><br />Aspirealtyhttps://www.blogger.com/profile/07887409161506716891noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-90461701598032763202019-11-02T22:07:07.595-07:002019-11-02T22:07:07.595-07:00If you had financial problems, then it is time for...If you had financial problems, then it is time for you to smile. You only need to contact Mr. Benjamin with the amount you wish to borrow and the payment period that suits you and you will have your loan in less than 48 hours. I just benefited for the sixth time a loan of 700 thousand dollars for a period of 180 months with the possibility of paying before the expiration date. Make contact with him and you will see that he is a very honest man with a good heart.His email is lfdsloans@lemeridianfds.com and his WhatApp phone number is + 1-989-394-3740 Радомир Эраhttps://www.blogger.com/profile/04206444599671821663noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-16169693075437269812019-05-15T02:39:33.599-07:002019-05-15T02:39:33.599-07:00Great insights. I look forward to reading what you...Great insights. I look forward to reading what you're planning on next, because your post is a nice read. <br /><a href="https://www.viraltrench.com/emily-compagno-age-height-wiki-bio/" rel="nofollow">Emily Compagno age</a> <br />mohithttps://www.blogger.com/profile/03998520132721344174noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-25121439072916601892019-02-28T10:08:06.793-08:002019-02-28T10:08:06.793-08:00Hello everyone, I saw comments from people who alr...Hello everyone, I saw comments from people who already got their loan from Jackson Walton Loan Company, honestly i thought it was a scam , and then I decided to apply under their recommendations and just few days ago I confirmed in my own personal bank account a total amount of $32,000 which I requested for business. This is really a great news and i am so happy, I am advising everyone who needs real loan and sure to pay back to apply through their email (Text or Call ) +1-586-331-5557) (jacksonwaltonloancompany@gmail.com) They are capable of given you your loan thanks.<br /><br />Contact Mr Jackson.<br />E-mail: (jacksonwaltonloancompany@gmail.com)<br />Fax: +1-586-331-5557<br /><br />Address is 68 Fremont Ave Penrose CO, 81240.<br />Jennifer Roberthttps://www.blogger.com/profile/08600111707564203005noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-37181535434905795032018-05-19T10:42:49.163-07:002018-05-19T10:42:49.163-07:00Are you tired of seeking loans and Mortgages,have ...Are you tired of seeking loans and Mortgages,have you been turned down constantly By your banks and other financial institutions,We offer any form of loan to individuals and corporate bodies at low interest rate.If you are interested in taking a loan,feel free to contact us today,we promise to offer you the best services ever.Just give us a try,because a trial will convince you.What are your Financial needs?Do you need a business loan?Do you need a personal loan?Do you want to buy a car?Do you want to refinance?Do you need a mortgage loan?Do you need a huge capital to start off your business proposal or expansion? Have you lost hope and you think there is no way out, and your financial burdens still persists? Contact us (gaincreditloan1@gmail.com)<br /><br />Your Name:...............<br />Your Country:...............<br />Your Occupation:...............<br />Loan Amount Needed:...............<br />Loan Duration...............<br />Monthly Income:...............<br />Your Telephone Number:.....................<br />Business Plan/Use Of Your Loan:...............<br />Contact Us At : gaincreditloan1@gmail.comCredit Loan Solutionhttps://www.blogger.com/profile/04560862271536746225noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-78699928726848399432017-05-31T10:13:23.947-07:002017-05-31T10:13:23.947-07:00Roberto, I am not sure if this question is even re...Roberto, I am not sure if this question is even relevant to you anymore. But if it is of any use, I have spoken to Liberty's IR and they had mentioned that depending on the age of the network, anything between 20-40% of capex is allocated to maintenance capex. I personally like to use a range, i.e. calculating FCF based on 20%, 30% and 40% basically as a best, base and worst case FCF projection. Would love to hear your thoughts.Srihttps://www.blogger.com/profile/10402313636090444820noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-60985519753697623412017-04-26T05:27:51.310-07:002017-04-26T05:27:51.310-07:00nicenice<a href="https://www.huffingtonpost.com/nancy-laws/the-shocking-truth-about-_5_b_7041934.html">essay best</a> https://www.blogger.com/profile/11825807784628551119noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-60089381251412696392016-12-21T11:53:12.226-08:002016-12-21T11:53:12.226-08:00How many shares does John Malone own?How many shares does John Malone own?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-35117302013346628472016-12-19T19:12:35.623-08:002016-12-19T19:12:35.623-08:00Great stuff. Way I see it: You need to figure out...Great stuff. Way I see it: You need to figure out how much you are paying for what is there today. Most granular way to do this, i think, is solve for FCF per share assuming only maintenance capex. That is, what is the FCF yield you are buying into. Second, you need to trust Malone and his CEOs to invest the cash in high return opportunities (buy backs vs. growth capex vs. m&a). They have a proven track record of getting 20+% levered returns for shareholders over decades. If you don't trust #2 based on history, don't even do the work on #1.<br />To get to #1, I am struggling with a few things. You're presentation is helpful in some but I have some questions for you:<br />1) Are you confident the way you strip out minority stakes using 78% multiplied by consolidated EBITDA is the best way to do this and do you feel very good about the 78%? Haven't spent the time you have on this but was getting to that piece of the analysis and frustrated with the CWC minority interest piece (Puerto Rico was easy).<br />2) Did you calculate the FCF attributable to equity holders of LILAC? What normalized maintenance capex would you use for the LILAC holders piece of the biz? If you multiply everything through and get to OIBDA less interest less cash taxes you realize you're either overpaying or underpaying from an FCF yield perspective based on whether maintenance capex is 15% or 20% of revenue. <br />For an asset like this (assuming it goes into Cable One type mode, even if it never does, good to think about the actual FCF to avail to shareholder). <br />The million dollar question to me is what to use for maintenance capex.<br />I am long, but struggle to size up until I really figure out at $21/share what FCF yield I am attaining.<br /><br />robertohttps://www.blogger.com/profile/13201509451485658540noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-89445509451256552532016-12-09T02:17:13.684-08:002016-12-09T02:17:13.684-08:00Keep Sharing the useful information. The way you ...Keep Sharing the useful information. The way you presented is awesome.<br /><a href="%E2%80%9Dwww.valuationsvic.com.au" rel="nofollow"> property valuer melbourne | property evaluation melbourne | residential property valuers melbourne</a><br />Anonymoushttps://www.blogger.com/profile/14414883251685993794noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-59340500323473365672016-12-03T19:49:52.186-08:002016-12-03T19:49:52.186-08:00Value Seeker, thank you for the articulate thought...Value Seeker, thank you for the articulate thoughts. I agree with you that the level of uncertainty is higher given what's transpired. Maybe it's the speculator in me, but I can't help but think that now is a good time to double down. It's usually at a time like this, when the picture isn't clear, that stocks get sh##-k#cked. <br /><br />I just noticed that Mike Fries bought >$1 million of LiLAC Class A on Nov. 8. It's probably not a big purchase for him, but still a vote of confidence nonetheless. <br /><br />Could it be that last quarter will be seen in hindsight as a blip or temporary speedbump? In late May, prior to the announcement that the 117 million shares would be distributed, the stock was at $42.70. I understand that the market was pricing in a much quicker roll-up story out of the gate, but seeing >50% of the equity value evaporate seems way overdone. <br /><br />I spoke with one of the IR guys; he said he suspects that weak hands were responsible for the magnitude of the sell-off. For example, maybe some remaining Liberty Global shareholders dumped it. Also, most of the sell-side analysts who cover LiLAC might have been required to initiate coverage on it by virtue of their coverage of Liberty Global. Contraspinhttps://www.blogger.com/profile/17969500173556502190noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-52097153481992337292016-12-03T19:47:37.102-08:002016-12-03T19:47:37.102-08:00Value Seeker, thank you for the articulate thought...Value Seeker, thank you for the articulate thoughts. I agree with you that the level of uncertainty is higher given what's transpired. Maybe it's the speculator in me, but I can't help but think that now is a good time to double down. It's usually at a time like this, when the picture isn't clear, that stocks get sh##-k#cked. <br /><br />I just noticed that Mike Fries bought >$1 million of LiLAC Class A on Nov. 8. It's probably not a big purchase for him, but still a vote of confidence nonetheless. <br /><br />Could it be that last quarter will be seen in hindsight as a blip or temporary speedbump? In late May, prior to the announcement that the 117 million shares would be distributed, the stock was at $42.70. I understand that the market was pricing in a much quicker roll-up story out of the gate, but seeing >50% of the equity value evaporate seems way overdone. <br /><br />I spoke with one of the IR guys; he said he suspects that weak hands were responsible for the magnitude of the sell-off. For example, maybe some remaining Liberty Global shareholders dumped it. Also, most of the sell-side analysts who cover LiLAC might have been required to initiate coverage on it by virtue of their coverage of Liberty Global. Contraspinhttps://www.blogger.com/profile/17969500173556502190noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-63875107291304772522016-11-16T14:57:30.677-08:002016-11-16T14:57:30.677-08:00Do you have a free cash flow estimate for 2017? Th...Do you have a free cash flow estimate for 2017? Thank you very muchAnonymoushttps://www.blogger.com/profile/06718198820217792722noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-36262938782663900532016-11-15T01:49:30.688-08:002016-11-15T01:49:30.688-08:00I stumbled into this blog a few days ago, and I am...I stumbled into this blog a few days ago, and I am overwhelmed by all the info you put together - not only on LiLAC, but on the other companies too. Too much to grasp by looking over in such a short time frame, but a treasure to start learning on the companies you cover. <br /><br />Your blog is in my RSS feed per now. Great work, thank you very much.<br /><br />TomTomBhttps://www.blogger.com/profile/13242585443875923127noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-38733920527630953882016-11-07T08:44:20.917-08:002016-11-07T08:44:20.917-08:00I can see both sides of the argument. For those th...I can see both sides of the argument. For those that say the massive share price decline was not warranted, they could point to the fact that the new synergies for CWC of $150m are a solid amount, that the new build of VTR seems to still be holding up, and that management is still working through the integration of CWC, who was still working through their Columbus acquisition. The subsea assets are still very valuable, and will make LILA the lower cost provider in the region, and this helps with future M&A synergies as well.<br /><br />For those that say it was warranted, they point to the leverage and fact that the growth is less than expected, they guided downwards, the synergy time of 2020 is probably a year longer than people wanted (and investors are already skeptical), it is clear to me they overpaid for CWC, and management looks shaky as of the last year or so.<br /><br />I fall somewhere in the middle. The business could still do okay, what I worry about the most is - the long term growth "story" was built on management rolling up LatAm opportunistically, at reasonable prices, and having strong synergies, rinse and repeat across the region. This is their first big acquisition in LatAm (exc. Choice and OneLink) but far from their first big acquisition. The management team is supposed to be deal makers and superior operators. Now, they look like they can't really do either, and thus the belief of "Liberty management + cable + under-penetrated region" that rested on management skills is a harder case to make. Management hasn't done well in the last couple of years for both LBTYA and LILA, so I should've brought more awareness instead of letting them pass go so much due to their overall track record and belief Malone will ultimately make the right call for shareholders. I still think LILA will be just fine 3-5 years from now; however, most don't have this sort of timeframe or can withstand the volatility in the stock price. <br /><br />The stock is far cheaper now, but a lot of the thesis is on shaky ground now. They need to really show they can execute on the integration of CWC at this point, a little more of a "show me" stock, now.Value Seekerhttps://www.blogger.com/profile/15109928780244476972noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-30755135911379535562016-11-06T02:00:24.899-08:002016-11-06T02:00:24.899-08:00Value Seeker, other commentor I cannot spell the n...Value Seeker, other commentor I cannot spell the name of on my keyboard, <br />Do you think Q3's incredible drop is due to the misinterpretation you mentionned in September between the way CWC reports their OCF and LILK does? (Meaning there hasn't actually been such disapointing numbers, it's simply the one-time difference in accounting methods? Are you buyers of LILAK at this point? As a shareholder (8% of my portfolio before the crash) I'm both scared and excited. Doing a lot of research to decide if I should massively increase the position because it's a bargain or if I was wrong in the first place and the market is right. Would love really value your opinion as your analysis is the most detailed I've read anywhere else!!Unknownhttps://www.blogger.com/profile/12146167793776226541noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-75991659481162022032016-11-04T18:36:29.119-07:002016-11-04T18:36:29.119-07:00As a shareholder, my head is still spinning from t...As a shareholder, my head is still spinning from today's movement in the stock price. Do you believe the 27% drop in price to be warranted?Contraspinhttps://www.blogger.com/profile/17969500173556502190noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-83661918110867924722016-09-27T21:05:07.294-07:002016-09-27T21:05:07.294-07:00Based on what management has said, LILA would not ...Based on what management has said, LILA would not be in the position for buybacks unless they had adequate FCF, which they won't in 2016 due to last year of Project Marlin, increased capex in Chile for expanding the footprint, and other capex items. The lack of current FCF, current leverage profile, and the share price make it difficult to acquire currently, but not impossible, it would likely anger shareholder's even more as they would likely issue either parentCo Global shares or LILA shares in mid/high $20s. <br /><br />I truly hope they focus on integrating CWC first, improve the organic opportunities in the current footprint, bring strong ROIC out of Chile opportunity and make sure they aren't seeing lower ROIC due to competitors announcing FTTH expansion as well. Additionally, LILA needs to communicate with shareholders better. It has been rather poor over the last 6-12 months.Value Seekerhttps://www.blogger.com/profile/15109928780244476972noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-86272852990684737852016-09-27T19:03:55.902-07:002016-09-27T19:03:55.902-07:00I read every slide, and saw that you generated a l...I read every slide, and saw that you generated a lot of the exhibits and graphs from scratch. That's A LOT of work for one week. I owned a moderate position since a year ago and doubled down in this sell-off. Given that most of the motivated selling is probably done by now, I would expect upward pressure on the price. As you pointed out, LILA isn't stupid cheap (e.g. double digit FCF yield) but it certainly looks very compelling given the tailwinds from increasing broadband penetration. We also have to remember that this is a roll-up. On that note, do you believe LILA is positioned to begin acquiring soon? Contraspinhttps://www.blogger.com/profile/17969500173556502190noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-51708308284399712632016-09-27T19:03:55.124-07:002016-09-27T19:03:55.124-07:00I read every slide, and saw that you generated a l...I read every slide, and saw that you generated a lot of the exhibits and graphs from scratch. That's A LOT of work for one week. I owned a moderate position since a year ago and doubled down in this sell-off. Given that most of the motivated selling is probably done by now, I would expect upward pressure on the price. As you pointed out, LILA isn't stupid cheap (e.g. double digit FCF yield) but it certainly looks very compelling given the tailwinds from increasing broadband penetration. We also have to remember that this is a roll-up. On that note, do you believe LILA is positioned to begin acquiring soon? Contraspinhttps://www.blogger.com/profile/17969500173556502190noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-46427380596162592732016-09-27T19:02:53.000-07:002016-09-27T19:02:53.000-07:00I read every slide, and saw that you generated a l...I read every slide, and saw that you generated a lot of the exhibits and graphs from scratch. That's A LOT of work for one week. I owned a moderate position since a year ago and doubled down in this sell-off. Given that most of the motivated selling is probably done by now, I would expect upward pressure on the price. As you pointed out, LILA isn't stupid cheap (e.g. double digit FCF yield) but it certainly looks very compelling given the tailwinds from increasing broadband penetration. We also have to remember that this is a roll-up. On that note, do you believe LILA is positioned to begin acquiring soon? Contraspinhttps://www.blogger.com/profile/17969500173556502190noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-9405585785115992722016-09-22T12:32:36.603-07:002016-09-22T12:32:36.603-07:00Thank you. It took me about a week to put together...Thank you. It took me about a week to put together, all in. However, I follow LILA and knew where to look for most of the information. It was just throwing it all together. In my opinion, the deck is too much information. Next one will be more concise and clear.Value Seekerhttps://www.blogger.com/profile/15109928780244476972noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-80475221402235506782016-09-22T08:42:08.583-07:002016-09-22T08:42:08.583-07:00This comment has been removed by a blog administrator.Contraspinhttps://www.blogger.com/profile/17969500173556502190noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-1633350477494914752016-09-22T08:42:08.218-07:002016-09-22T08:42:08.218-07:00Thank you Value Seeker for this incredibly detaile...Thank you Value Seeker for this incredibly detailed look at LiLAC. You used many sources in your research. How long did you work on this deck?Contraspinhttps://www.blogger.com/profile/17969500173556502190noreply@blogger.comtag:blogger.com,1999:blog-8610894719881071116.post-74023177653257099152016-09-22T08:41:49.680-07:002016-09-22T08:41:49.680-07:00Thank you Value Seeker for this incredibly detaile...Thank you Value Seeker for this incredibly detailed look at LiLAC. You used many sources in your research. How long did you work on this deck?Contraspinhttps://www.blogger.com/profile/17969500173556502190noreply@blogger.com