Peterffy's worst trade ever?

http://www.greenwichtime.com/busine...gest-estate-sells-for-21-million-12377521.php

Buys a Greenwich estate for $45m, sells it for $21m.

 

It is actually a nice estate and he did put money into it. But I think he can afford the loss, IBRK is up from 36 to 56 YTD. In other words, it is at ATH....

Also, his paper loss when IBRK went from 45 to 30 in 6 weeks was probably way bigger...

 

He strikes me as a guy who wants to dominate his industry rather than chase every penny.

 

...and if it sells for $20mil 10 years from now, we'll all think him a bloody genius.

 

Anyhow, his firm lost 120 mill when the Swiss frank jumped, since Peterffy owns 75% of IB, his personal loss on the event was 90 mill...

". This week’s events have left the firm on the hook for $120 million in losses."

http://fortune.com/2015/01/16/swiss-franc-400-million-losses/

 

the stock has gone uo 2x from there. your point?

 

That was an earnings loss for the firm, not stock loss. The point was (why the fuck do I have to spell out everything??) that no, a 25 mill real estate loss wasn't the biggest for Peterffy.

 

Greenwich’s housing market is in deep trouble. As you can see in the numbers below, there’s a staggering amount of houses sitting on the market. Here’s the breakdown by home price category:

• $3 million to $4 million: 17 months of supply which has risen 38% over the past year
• $4 million to $5 million: 22 months of supply, +35% over the past year
• $5 million to $10 million: 48 months of supply, +108% over the past year
• Greater than $10 million: 128 months of supply, +63% over the past year

To put that last bullet into perspective, at 128 months, that’s almost 13 years of supply.

http://fortune.com/2016/11/10/greenwich-ct-real-estate-luxury/

 

a decline in book value is near meaningless. it is what he can sell the co. that has a reality.

 

LOL