This is something we obviously did not see coming, but based on the action in WPO shares over the past 6-months perhaps someone else did. In retrospect, we should have given greater attention to...
READ MORE >In many respects, WPO’s 2Q12 earnings results represent a complete validation of our short thesis on the stock. At a time when it appears most bulls on the stock own it based on some theoretical breakup value, two...
READ MORE >Admittedly, WPO’s 4Q11 results beat our estimates by a wide margin. Normally this type of EPS upside would yield a more meaningful reaction in any given company’s stock price – that did not happen. WPO...
READ MORE >In many respects, WPO’s 3Q11 earnings results represent a complete validation of our short thesis on WPO shares. At a time when it appears most bulls on the stock own it based on some theoretical breakup value, two unalienable truths remain clear: 1) WPO management has no...
READ MORE >On Friday, WPO management hosted its bi-annual shareholder day. If ever we had any doubts about our long term secular short case for WPO shares, they were all but removed following a series of management presentations. Based on the tenor and...
READ MORE >Approximately 18-months ago, we scribed a letter to Warren Buffet, Chairman and CEO of Berkshire Hathaway about his sizeable ownership stake in the Washington Post Company. It might have been an audacious endeavor on our part...
READ MORE >For several months now, we have been waiting for an update on the status of three separate qui tam actions outstanding against Kaplan Higher Education in the United States District Court Southern District of Florida. ...
READ MORE >Approximately two and a half months ago, we published a report that argued that the tail risk associated with owning WPO shares continued to increase. Today we received further evidence that "tail risk" continues to grow for the company.Filing...
READ MORE >Admittedly, WPO's headline earnings results for 3Q10 appear to be compelling. The company reported total revenues of $1.189 billion and adjusted EPS from continuing operations of $11.40. This compares to our...
READ MORE >On Friday, November 5th, WPO will report 3Q10 earnings. WPO is at a significant crossroads. Fundamental demand for the company's primary growth vehicle over the past five years has changed abruptly at a time when secular headwinds facing WPO's...
READ MORE >Barron's columnist Andrew Bary published a follow up piece this weekend to his initial write-up on WPO in which he argued that the stock could be worth as much as $900/share. You can read the original article here. Mr. Bary's...
READ MORE >WPO reported 1Q10 results on 5/7. Overall, the results did little to alter our short thesis on the stock. The company beat our estimates on the topline but fell short of our EPS forecast due to lower than expected profitability at the...
READ MORE >This report was originally published on September 15th, 2009.Please note, the following is a letter PAA Research recently sent to Warren Buffet, Chairman and CEO of Berkshire Hathaway, Inc.. We thought our readers might find the analysis of Washington Post and...
READ MORE >SELL/SHORT
$4
SELL
$50
SELL/SHORT
$45
SHORT
$18
SELL/SHORT
$5
SELL/SHORT
$42
LONG
$75
LONG
$128
SELL/SHORT
$50
SELL/SHORT
$50
LONG
$5.50
SHORT
$50
SHORT
$28
LONG
$65
LONG
$37
PAIR TRADE
$10
PAIR TRADE
$30
LONG
$35
SHORT
$35
SELL/SHORT
$10
SHORT
$101
SHORT
$15
SHORT
$0
SHORT
$9
SHORT
$0
PAIR - LONG BGG/SHORT TTC
25%
PAIR - LONG BGG/SHORT TTC
25%
SHORT
$14.00
SHORT
$22
SHORT
$15
SHORT
$20
SHORT
$31
SHORT
$35
SHORT
$30
PAIR - LONG KNL/SHORT MLHR
25%
SHORT
$100
LONG
$8
LONG
$20
SHORT
$22
PAIR - LONG CSGP/SHORT LOOP
40%
LONG
$35
SHORT
$275
SHORT
$0