Word: gabelli
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Dates: during 1990-1999
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...combination that has made it one of the country's most profitable cable networks. The dissidents believe that BET could be worth almost 50% more than Johnson is offering. "It's such a fabulous company that I see Johnson's offer as nothing more than preliminary," says Mario Gabelli, a high-profile media investor who complained to the Securities and Exchange Commission; other holders sued BET directly...
...Malone, a Time Warner rival whose Turner stake gives him effective veto power over a deal. But by Sunday, as TIME went to press, Levin and Turner were tantalizingly close to sealing an agreement to create the world's largest media company. "For Levin it's brilliant," says Mario Gabelli, whose Gabelli Funds hold some 5 million shares of Time Warner...
...some observers wonder what the lure is for Turner. "Why should he become vice chairman of a public company?" asks Mario Gabelli, whose Gabelli Funds owns a big wad of Time Warner stock. "To get dividends on his stock? I just don't see it. Sure, he's a poor billionaire--but he has run his own show for 20 years. It's got to be something else. I'd love to know what they're offering him, sotto voce...
While we've all been puttering around with our own portfolios, buying what Mario Gabelli likes, or last year's laggards in the Dow, we could have been sitting on a few shares of Berkshire Hathaway and turned $1,000 into $1 million. That's the return since 1969. I actually owned Berkshire for a stretch in the 1980s but sold it too soon. Buffett himself rarely sells too soon. A key element of his strategy is to buy companies at favorable prices and sit on them. It's the sitting part that Robert Hagstrom says most of us overlook...