Discussion:
Well, I took a flyer and bought Formul One Stock
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D Munz
2017-01-31 15:54:31 UTC
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I still have my CART certificate on the wall and a single share of the new Ferrari so why not add some liberty media to the pile? However, that is not as easy as it might seem. They have three shares listings: FWONA, FWONB and FWONK. The only differences I can figure out are the voting rights and convertibility.

Conversion is easy. FWONB can always be converted, one-for-one, to FWONA. FWONA and FWONK have no conversion opportunities.

Voting is less clear. FWONA has one vote per share. FWONB has ten votes per share. FWONK has no voting rights. But what the voting is for is a mystery. (for example, do FWONA and FWONB vote on the same issues? Or is there different voting for the two listings?)

At the end of the day I went for 50 shares of the FWONB. FWONK just sounds bad. Literally, fa-won-k. I gambled that the 10 votes per share and convertibility at some point made the FWONB a better deal than the FWONA.

Its all a punt anyway so we will see how it plays out.

FWIW
DLM

PS. I actually made a pile of cash on the CART offering. I bought into it just before all the rumors about Bernie buy them hit and the stock jumped. I kept one share so I could have the certificate which is quite nice. I bought Ferrari to get the certificate as well only to find out they don't issue them anymore. Such a shame.
~misfit~
2017-01-31 22:57:18 UTC
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Post by D Munz
I still have my CART certificate on the wall and a single share of
the new Ferrari so why not add some liberty media to the pile?
However, that is not as easy as it might seem. They have three
shares listings: FWONA, FWONB and FWONK. The only differences I can
figure out are the voting rights and convertibility.
Conversion is easy. FWONB can always be converted, one-for-one, to
FWONA. FWONA and FWONK have no conversion opportunities.
Voting is less clear. FWONA has one vote per share. FWONB has ten
votes per share. FWONK has no voting rights. But what the voting is
for is a mystery. (for example, do FWONA and FWONB vote on the same
issues? Or is there different voting for the two listings?)
At the end of the day I went for 50 shares of the FWONB. FWONK just
sounds bad. Literally, fa-won-k. I gambled that the 10 votes per
share and convertibility at some point made the FWONB a better deal
than the FWONA.
Its all a punt anyway so we will see how it plays out.
FWIW
DLM
PS. I actually made a pile of cash on the CART offering. I bought
into it just before all the rumors about Bernie buy them hit and the
stock jumped. I kept one share so I could have the certificate which
is quite nice. I bought Ferrari to get the certificate as well only
to find out they don't issue them anymore. Such a shame.
Good luck!
--
Shaun.

"Humans will have advanced a long, long way when religious belief has a cozy
little classification in the DSM*."
David Melville (in r.a.s.f1)
(*Diagnostic and Statistical Manual of Mental Disorders)
Mark Jackson
2017-02-01 00:42:46 UTC
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Post by D Munz
PS. I actually made a pile of cash on the CART offering. I bought
into it just before all the rumors about Bernie buy them hit and the
stock jumped. I kept one share so I could have the certificate which
is quite nice. I bought Ferrari to get the certificate as well only
to find out they don't issue them anymore.
Good thing, too - do you know how much it would have cost for Playboy to
recall and replace all those certificates to put clothes on the Playmate?
--
Mark Jackson - http://www.alumni.caltech.edu/~mjackson
Just because you don't see killer robots marching
down the street doesn't mean we shouldn't be concerned.
- Elon Musk
Bobster
2017-02-05 09:30:33 UTC
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Post by D Munz
I still have my CART certificate on the wall and a single share of the new Ferrari so why not add some liberty media to the pile? However, that is not as easy as it might seem. They have three shares listings: FWONA, FWONB and FWONK. The only differences I can figure out are the voting rights and convertibility.
Conversion is easy. FWONB can always be converted, one-for-one, to FWONA. FWONA and FWONK have no conversion opportunities.
Voting is less clear. FWONA has one vote per share. FWONB has ten votes per share. FWONK has no voting rights. But what the voting is for is a mystery. (for example, do FWONA and FWONB vote on the same issues? Or is there different voting for the two listings?)
This may be of interest
http://www.forbes.com/sites/csylt/2017/01/29/exclusive-formula-one-group-doesnt-own-f1s-commercial-rights/#231aabba2032
D Munz
2017-02-05 17:19:14 UTC
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Post by Bobster
Post by D Munz
I still have my CART certificate on the wall and a single share of the new Ferrari so why not add some liberty media to the pile? However, that is not as easy as it might seem. They have three shares listings: FWONA, FWONB and FWONK. The only differences I can figure out are the voting rights and convertibility.
Conversion is easy. FWONB can always be converted, one-for-one, to FWONA. FWONA and FWONK have no conversion opportunities.
Voting is less clear. FWONA has one vote per share. FWONB has ten votes per share. FWONK has no voting rights. But what the voting is for is a mystery. (for example, do FWONA and FWONB vote on the same issues? Or is there different voting for the two listings?)
This may be of interest
http://www.forbes.com/sites/csylt/2017/01/29/exclusive-formula-one-group-doesnt-own-f1s-commercial-rights/#231aabba2032
Thanks for that. It just makes my decision to avoid the FWONK listing sound. Now buying into FWONB (with 10 votes per share on what???) is perhaps slightly less unsound. But, as I said it's a punt. I could have dropped the money on a 00 at 35 for 1 just as well. Hopefully I'll get some interesting prospects material out of the dea.

FWIW
DLM

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