StoneCo Ltd. (STNE), a financial technology company in Brazil, is up 12% at $52.85 on takeover talks with Linx S.A. (LINX) a Brazilian software firm. It is now 120% above the IPO price of $24 paid by Todd Combs of Berkshire Hathaway in October, 2018.
StoneCo Ltd. is a financial technology company based in Brazil, the fourth-largest payment processor by volume in that country. Brazil is the fourth-largest market for non-cash transaction volumes in the world, which gives the company a lot of scope for growth. Todd Combs of Berkshire Hathaway invested $340 million in the company’s initial public offering, buying about 11 percent of the company. This stake is now valued at about $700 million. Berkshire had not previously invested in an IPO in decades.
David I Kass
Clinical Associate Professor, Department of Finance
Ph.D., Harvard University
Robert H. Smith School of Business
4412 Van Munching Hall
University of Maryland
College Park, MD 20742-1815
Phone: 301-405-9683
Email: [email protected] (link sends e-mail)
Dr. David Kass has published articles in corporate finance, industrial organization, and health economics. He currently teaches Advanced Financial Management and Business Finance, and is the Faculty Champion for the Accelerated Finance Fellows. Prior to joining the faculty of the Smith School in 2004, he held senior positions with the Federal Government (Federal Trade Commission, General Accounting Office, Department of Defense, and the Bureau of Economic Analysis). Dr. Kass has recently appeared on Bloomberg TV, CNBC, PBS Nightly Business Report, Maryland Public Television, Business News Network TV (Canada), Fox TV, American Public Media's Marketplace Radio, and WYPR Radio (Baltimore), and has been quoted on numerous occasions by Bloomberg News and The Wall Street Journal, where he has primarily discussed Warren Buffett and Berkshire Hathaway. He has also launched a Smith School “Warren Buffett” blog. Dr. Kass has accompanied MBA students on trips to Omaha for private meetings with Warren Buffett, and Finance Fellows to Berkshire Hathaway’s annual meetings. He is an officer of the Harvard Business School Club of Washington, DC, and is a member of the investment and budget committees of a local nonprofit organization. Dr. Kass received a Smith School “Top 15% Teaching Award” for the 2009-2010 academic year.
J.C. Penney Company, Inc. (NYSE:JCP) where does it go from here? The answer depends on who you ask (well that was a bit obvious and you could always just flip... Read More
Absolute Return Partners' letter title "A Brave New World"
“The deepest sin against the human mind is to believe things without evidence.”
Aldous Huxley
In the the last two Absolute Return Letters... Read More
‘You can’t make millions of dollars without picking several enemies along the way’, so goes the age-old corporate world adage. While it is not quite possible to approach such... Read More
Gold stocks are quite popular among hedge funds these days, and with good reason. John Paulson, who is very bullish about gold, made $5 billion by betting on gold... Read More
Exclusive Interview With Clarkston Capital Partners: Selective, Quality Value Investing by John Mihaljevic, BeyondProxy
We have had the distinct pleasure of interviewing Jerry Hakala and the team at Clarkston Capital... Read More
The million dollar question in the Asian credit markets have to do with Formosa bonds - for the uneducated here, Formosa was formerly the name of Taiwan, which for... Read More
Northrop Grumman Corporation (NOC) operates as a security company. It provides various systems, products, and solutions in autonomous systems, cyber, space, strike, and logistics and modernization, as well as... Read More
Japan's Negative Rate Experiment: The Biggest Losers
Last week the Bank of Japan published detailed estimates of the distribution of Japan’s banks’ reserves under the new three-tier system. The figures... Read More
In my December post, “Are All Bets Off?”, I wrote, “To what extent has the decline in equity markets influenced economic activity and corporate profits?” To answer this question,... Read More
“There’s a lot of brainpower in India; India has a terrific future, says legendary investor Warren Buffett in an exclusive conversation with ET NOW’s Tanvir Gill. Listen in.”
The Buffett... Read More
