Certage's Q3 Financial Supplement

Certage is not going to easily be able to come up with $1.6 billion in cash unless they liquidate a lot of their properties really fast. They have an additional 400 million they can borrow from Berkshire, which they haven't drawn down on yet. And the CEO, Andrea Olshin has given a lot more clarity to shareholders and what their actual plans are. It reminds me a little bit of BP a few years ago when they had the big oil spill.

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In this rewind episode, Clay Finck chats with Tom Botica about what it means to invest with a margin of safety, Seritage Growth Properties, and much more!

Tom is a value investor and studies superinvestors such as Warren Buffett, Charlie Munger, Mohnish Pabrai, Guy Spier, and many others.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

02:44 - What investors should keep in mind during a market correction.

11:10 - Why investing checklists can be useful for value investors.

16:46 - The case for individual stock pickers outperforming the market indices.

28:11 - What Seritage Growth Properties does and why it’s potentially a compelling investment.

36:37 - Why Seritage is trading at what appears to be well below it’s liquidation value.

36:37 - The potential risks investing in Seritage.

And much, much more!

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

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Related Episode: Listen to MI131: Richer, Wiser, Happier, w/ William Green, or watch the video.

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