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Post by kc on Feb 15, 2018 9:33:21 GMT -5
Now, it explained why institution holder % drop to 16% from 21%. Al's heirs are like us, they want money and run. It had dipped as low as 10% on TD Ameritrade site at the end of November but now its back to 13.4% Which is very very low for a public company. Normally Institutional investors are over 50% +++ |
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Post by traderdennis on Feb 15, 2018 9:40:20 GMT -5
Trader Dennis: I doubt that retail Mom & Pop investors could’ve put together that much juice from a brokerage house to buy $60 million worth of shares. These were bigger buyers than retail. That was proven out t by Kent Kressa buying himself $1,000,000 in shares.
It was not a retail type subscription. It was placed with a few big buyers. I never said retail bought the direct placement shares. There were clover 100 million shares traded on the last couple of days of the run up. RETAIL purchased shares above six from short sellers who purchased from the direct offering to cover. Who has the incentive is DEERFIELD. for Deerfield to get paid they need mnkd to have cash. DEERFIELD shorted above six and bought the direct placement shares at six. They profit short terms on the short. It was no accident Mnkd had to escrow funds for Deerfield. |
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akil
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Post by akil on Feb 15, 2018 9:47:36 GMT -5
TD: You like the thesis that Deerfield somehow got 6 for their shares. You do realize that they were 0 at 9/30. Don't like that story eh?
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akil
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Post by akil on Feb 15, 2018 9:49:45 GMT -5
As to Al Mann's heirs, they now own these and presumably more. He had close to 30M if I remember right. Split adjusted. Their 5% statements ought to be coming except if he spread them thin across many different entities. He was not a big fan of leaving a big inheritance for his kids.
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Post by traderdennis on Feb 15, 2018 9:55:22 GMT -5
TD: You like the thesis that Deerfield somehow got 6 for their shares. You do realize that they were 0 at 9/30. Don't like that story eh? They sold short above six and covered the short position with the direct placement. There is no requirement to state a short position above five percent and they never technicall had a long position. The run up iirc was in October |
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Post by sportsrancho on Feb 15, 2018 9:55:33 GMT -5
I’m assuming the stock was sold the moment it was gifted. New company... I’m with Mike:-)
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Post by peppy on Feb 15, 2018 9:55:51 GMT -5
Past interviews with Al Mann indicate that his will stipulates that most of his shares would NOT be going to family members. There were a number of medical institutions mentioned, though. I swear one time years ago, there was a list posted of the universities that were to get shares of MNKD upon al's passing. |
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Post by kc on Feb 15, 2018 10:02:12 GMT -5
As to Al Mann's heirs, they now own these and presumably more. He had close to 30M if I remember right. Split adjusted. Their 5% statements ought to be coming except if he spread them thin across many different entities. He was not a big fan of leaving a big inheritance for his kids. I am sure he took good care of his kids with another trust or during his life time. You can be sure of that. |
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Post by mnholdem on Feb 15, 2018 13:12:29 GMT -5
Past interviews with Al Mann indicate that his will stipulates that most of his shares would NOT be going to family members. There were a number of medical institutions mentioned, though. I swear one time years ago, there was a list posted of the universities that were to get shares of MNKD upon al's passing. It's in one of the company's SEC filings. |
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Post by mytakeonit on Feb 15, 2018 14:12:43 GMT -5
As we all know .. Al Mann was THE smartest and hardest working Mann around. (Not a typo) He also raised his kids to be the same way, so they could fend for themselves as adults.
That is my understanding of Al Mann.
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Post by brentie on Feb 15, 2018 15:10:35 GMT -5
As we all know .. Al Mann was THE smartest and hardest working Mann around. (Not a typo) He also raised his kids to be the same way, so they could fend for themselves as adults. That is my understanding of Al Mann. Ah, not really..... "As for his six biological children, Mr. Mann said he had already given them more than he should have, turning them into idle multimillionaires. (He has also adopted the daughter of his current wife, his fourth). “One tried working for three days and didn’t like it,” Mr. Mann said. “Another didn’t work a day in his life.” He added, “I would feel more comfortable if my kids were doing something worthwhile.” www.nytimes.com/2007/11/16/business/16mannkind.html?ex=&_r=0 |
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Post by mytakeonit on Feb 15, 2018 15:19:01 GMT -5
True ... but, now that the money train is gone ... they will have to fall back on the teachings and hopefully, not starve.
If they didn't learn ... they'll be like Megabucks or Lottery winners that are broke in a few months.
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Post by sportsrancho on Feb 15, 2018 15:24:23 GMT -5
As we all know .. Al Mann was THE smartest and hardest working Mann around. (Not a typo) He also raised his kids to be the same way, so they could fend for themselves as adults. That is my understanding of Al Mann. Ah, not really..... "As for his six biological children, Mr. Mann said he had already given them more than he should have, turning them into idle multimillionaires. (He has also adopted the daughter of his current wife, his fourth). “One tried working for three days and didn’t like it,” Mr. Mann said. “Another didn’t work a day in his life.” He added, “I would feel more comfortable if my kids were doing something worthwhile.” www.nytimes.com/2007/11/16/business/16mannkind.html?ex=&_r=0 Same thing with my rich clients kids, ( The CEO ) His son... had an attitude...why work? He’s waiting for the big payday, only there won’t be one. |
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Post by akemp3000 on Feb 15, 2018 15:41:50 GMT -5
A good friend and multi-millionaire CEO, who has since passed away, one day explained that the greatest joy in his life was not having wealth but the challenge to acquire it...and that he was not going to deprive his kids of that joy!
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Post by Chris-C on Feb 15, 2018 16:13:24 GMT -5
A good friend and multi-millionaire CEO, who has since passed away, one day explained that the greatest joy in his life was not having wealth but the challenge to acquire it...and that he was not going to deprive his kids of that joy! Wise fellow, your friend. In my experience, there is wisdom in avoiding parental actions that mislead children about the value of money. The axiom "No good deed goes unpunished" seems to apply here. We all love our kids and want to have them be happy and love us in return. But at the end of the day, they must be taught that success and wisdom are consequences of hard work and discipline. Rewards granted without sacrifice are devalued in the mind of the recipient. For a year I consulted in Kuwait and one of the pressing problems was rich kids who had no conception of work (or value) and no sense of purpose or obligation. They became a burden to their families and a problem for society. There are those with old money and those with new money. The difference seems to be that those with old money don't flaunt it, remain humble and recognize their obligation to give back ("nobless oblige"). It would be great to see a bit more of that in the USA, IMO. Yes, some small amounts of inheritance are going to my children when I pass, but the bulk of my estate is going to non-political causes that will benefit humankind. I suspect there are others here who hold similar sentiments. Chris C |
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