Wednesday, October 13, 2010

JOE: Bull vs Bear

David Einhorn made a splash today by detailing his short thesis on The St Joe Company (ticker: JOE).  Dealbreaker has a copy of the presentation here.  It's well worth flipping through the 139 pages.

Broyhill Asset Management, on the other hand, has a bull case on JOE, courtesy of Market Folly.

I guess Fairholme also owns a huge chunk of JOE, but I haven't seen their long thesis.  Einhorn reportedly reached out to them, but nothing came of it.

I have no position in the stock, but I find Einhorn's argument more compelling.

EDIT:  Market folly has more, as does The Rational Walk



keithpiccirillo said...

I'm pretty sure JOE was not listed in past quarterly holdings.

keithpiccirillo said...

Then again....