Well, I took a flyer and bought Formul One Stock

[D Munz]

I still have my CART certificate on the wall and a single share of the new Ferrari so why not add some liberty media to the pile? However, that is not as easy as it might seem. They have three shares listings: FWONA, FWONB and FWONK. The only differences I can figure out are the voting rights and convertibility.

Conversion is easy. FWONB can always be converted, one-for-one, to FWONA. FWONA and FWONK have no conversion opportunities.

Voting is less clear. FWONA has one vote per share. FWONB has ten votes per share. FWONK has no voting rights. But what the voting is for is a mystery. (for example, do FWONA and FWONB vote on the same issues? Or is there different voting for the two listings?)

At the end of the day I went for 50 shares of the FWONB. FWONK just sounds bad. Literally, fa-won-k. I gambled that the 10 votes per share and convertibility at some point made the FWONB a better deal than the FWONA.

Its all a punt anyway so we will see how it plays out.

FWIW
DLM

PS. I actually made a pile of cash on the CART offering. I bought into it just before all the rumors about Bernie buy them hit and the stock jumped. I kept one share so I could have the certificate which is quite nice. I bought Ferrari to get the certificate as well only to find out they don't issue them anymore. Such a shame.

[~misfit~]

Good luck!
--
Shaun.

"Humans will have advanced a long, long way when religious belief has a cozy
little classification in the DSM*."
David Melville (in r.a.s.f1)
(*Diagnostic and Statistical Manual of Mental Disorders)

[Mark Jackson]

On 1/31/2017 10:54 AM, D Munz wrote:
> PS. I actually made a pile of cash on the CART offering. I bought
> into it just before all the rumors about Bernie buy them hit and the
> stock jumped. I kept one share so I could have the certificate which
> is quite nice. I bought Ferrari to get the certificate as well only
> to find out they don't issue them anymore.

Good thing, too - do you know how much it would have cost for Playboy to
recall and replace all those certificates to put clothes on the Playmate?

--
Mark Jackson - http://www.alumni.caltech.edu/~mjackson
Just because you don't see killer robots marching
down the street doesn't mean we shouldn't be concerned.
- Elon Musk

[Bobster]

On Tuesday, 31 January 2017 17:54:33 UTC+2, D Munz wrote:
> I still have my CART certificate on the wall and a single share of the new Ferrari so why not add some liberty media to the pile? However, that is not as easy as it might seem. They have three shares listings: FWONA, FWONB and FWONK. The only differences I can figure out are the voting rights and convertibility.
>
> Conversion is easy. FWONB can always be converted, one-for-one, to FWONA. FWONA and FWONK have no conversion opportunities.
>
> Voting is less clear. FWONA has one vote per share. FWONB has ten votes per share. FWONK has no voting rights. But what the voting is for is a mystery. (for example, do FWONA and FWONB vote on the same issues? Or is there different voting for the two listings?)

This may be of interest
http://www.forbes.com/sites/csylt/2017/01/29/exclusive-formula-one-group-doesnt-own-f1s-commercial-rights/#231aabba2032

[D Munz]

Thanks for that. It just makes my decision to avoid the FWONK listing sound. Now buying into FWONB (with 10 votes per share on what???) is perhaps slightly less unsound. But, as I said it's a punt. I could have dropped the money on a 00 at 35 for 1 just as well. Hopefully I'll get some interesting prospects material out of the dea.

FWIW
DLM

[D Munz]

On Sunday, February 5, 2017 at 11:19:15 AM UTC-6, D Munz wrote:

> Thanks for that. It just makes my decision to avoid the FWONK listing sound. Now buying into FWONB (with 10 votes per share on what???) is perhaps slightly less unsound. But, as I said it's a punt. I could have dropped the money on a 00 at 35 for 1 just as well. Hopefully I'll get some interesting prospects material out of the dea.
>
> FWIW
> DLM

Well this is interesting. I received the meeting materials for the Liberty annual shareholder meeting. The annual report included:

Shares Outstanding
As of the record date, an aggregate of 102,504,517 shares of LSXMA, 9,870,856 shares of LSXMB, 10,238,161 shares of BATRA, 986,791 shares of BATRB, 25,608,045 shares of FWONA and 2,466,778 shares of FWONB were issued and outstanding and entitled to vote at the annual meeting.

Number of Holders
There were, as of the record date, 1,266 and 81 record holders of LSXMA and LSXMB, respectively, 1,214 and 51 record holders of BATRA and BATRB, respectively, and 901 and 69 record holders of FWONA and FWONB, respectively (which amounts do not include the number of stockholders whose shares are held of record by banks, brokers or other nominees, but include each such institution as one holder).

So I own 50/2.5MM shares in F1 which is actually not a bad ration for an individual in a company listing. (However, this is totally diluted as the voting is common to the entire Liberty Media pool.) But more interesting is that I'm 1 of 69 holders in FWONB. The meeting is on May 24th in Atlanta and I plan to try and attend. We will see what happens.

FWIW
DLM

[lagu...@gmail.com]

How did this go!

[D Munz]

I sold it for a small profit last year. I could have actually made a bit more if I had held on until December but lost interest. Liberty has an odd structure in that all their shares are "tracking stocks" which means you don't really own a piece of the company (like tradition shares), you are tracking the income (or loss).

They also don't hold public shareholder meetings which was a motivator for me.

Way back in the day, I invested in CART and attended a couple of their meetings in Indianapolis. Those were a real who's who of US auto sport at the time.

I sold most of that stock for a good profit when there was a rumor that Bernie was going to buy the out. I still have one paper certificate framed and hanging in my office. Its kind of cool.

FWIW
DLM