Just a quick blog post to update our Genworth Financial (ticker GNW) (SECs here) sum-of-the-parts valuation (SotP), in light of the fact that the company recently extended (yet again) the deadline for the China Oceanwide merger (this time, to March 15, 2019 - source here): Although we sold out of our GNW position late last month at close to $5/share due to the upside being currently capped at $5.43/share... ...it remains firmly on our radar screen for a potential re-entry if the price and circumstances are right. We last presented a GNW SotP calculation in early November 2018 in our Seeking Alpha article entitled "Genworth: Stakeholder Incentives And Facts On The Ground Point To Ultimate App
[NOTE: This blog entry was drafted on December 16, 2018 but not published until February 18, 2019. Due to procrastination, we never acted on the long thesis, missing out on ~44% appreciation (to date).] We continue our blog series: Market Musings, Volume 2, Edition 24, giving our (hopefully not too random) thoughts on recent goings-on in the markets. Today, we present "Merrimack Pharmaceuticals--Break Up Play?". Merrimack Pharmaceuticals (MACK) (SEC filings here), a cancer drug developer, has been a dreadful dog of a stock over the past few years, falling 97% from its April 2015 top, mainly due to drug trial and other commercial failures (note that MACK effected a 1-for-10 reverse split in A
