Friday, June 29, 2012

Fushi Copperweld, Inc.

Fushi Copperweld, Inc. (Ticker: FSIN) announced the approval of the management buyout for $9.50 in cash. I picked up a few shares of Fushi Copperweld, Inc. today with prices ranging from $8.60 to $8.63 so this will be a net ~ 10% return if it closes (~30% annualized return assuming 4 months to close). This one has a wide spread because there are lots of skepticism with the Chinese stocks. I’m actually pretty comfortable with this arb play since it has fully committed financing in place.

Tuesday, June 19, 2012

Sold RailAmerica, Inc.

I sold my position in RailAmerica, Inc. (Ticker: RA) today at $24.29 generating a net gain of 0.79%. I'm not comfortable with the position as this company is evaluating strategic alternatives. The company is majority owned by the private equity firm, Fortress Investment Group. I’ve had some bad experiences with private equity cashing out their investments. A deal with a decent premium may materialize, but I’m out…

Wednesday, June 06, 2012

Jakks Pacific, Inc.

I picked up 99 shares in Jakks Pacific, Inc. at $18.56. They have initiated a self tender offer to purchase shares for $20 with odd lot taking priority. This offer is scheduled to close on June 27th. It’s not much, but it’s basically free money. I’m currently reading Hedge Fund Market Wizards by Jack D. Schwager. I’ve been a fan of his Market Wizards series. So far so good...