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Originally Posted by NKSpilot
(Post 3355941)
Vanguard owning 9% of SAVE is not the same as SAVE being 9% of Vanguard's holdings
As far as your opinion on the affect of first year pay on attrition, I suppose we’ll just have to agree to differ. |
Originally Posted by NKSpilot
(Post 3355941)
Vanguard owning 9% of SAVE is not the same as SAVE being 9% of Vanguard's holdings
Let's look at one single Vanguard Fund - VTSAX As of September 30, 2021 VTSAX held 3,065,028 shares. (That's the quickest number I could find. Lazy googling.) VTSAX is an index fund, so it holds its shares by market cap weight passively, on autopilot based on something called the CRSP index. Based on today's stock price, those shares are worth about $71million. The total market cap of save is $2.4billion, so that means that one Vanguard index fund owns about 3% of the company. |
Originally Posted by Halon1211
(Post 3355868)
could be. But I did hear Bendo is making an appearance in BWI tomorrow at 9AM. The airport has him listed as giving a speech. Any ideas?
https://m.imgur.com/TVz8MyC Seems like a totally legit, not the least bit made up at all, headline from what I’m sure is a reputable news-like totally not a meme generating website. |
Originally Posted by TipTanks
(Post 3355970)
Exactly.
Let's look at one single Vanguard Fund - VTSAX As of September 30, 2021 VTSAX held 3,065,028 shares. (That's the quickest number I could find. Lazy googling.) VTSAX is an index fund, so it holds its shares by market cap weight passively, on autopilot based on something called the CRSP index. Based on today's stock price, those shares are worth about $71million. The total market cap of save is $2.4billion, so that means that one Vanguard index fund owns about 3% of the company. Principal Investment Strategies The Fund employs an indexing investment approach designed to track the performance of the CRSP US Total Market Index, which represents approximately 100% of the investable U.S. stock market and includes large-, mid-, small-, and micro-cap stocks regularly traded on the New York Stock Exchange and Nasdaq. The Fund invests by sampling the Index, meaning that it holds a broadly diversified collection of securities that, in the aggregate, approximates the full Index in terms of key characteristics. But none of that matters to the point I was making which is that with ~ 60% institutionally held AND a poison pill NK is an unlikely target for a hostile buy out. My other point, that we should treat our newbies better if we want to keep them you and I can still disagree about, but with even MESA giving their newbies a $20k bonus just for passing IOE, our first year remuneration is looking increasingly embarrassing. FUPME might be a mantra some believe appropriate directed at management, it shouldn’t be how we treat our junior pilots - not if we expect them to stay. |
Originally Posted by Excargodog
(Post 3356073)
First of all read the prospectus:
Even mighty Vanguard does not REALLY passively invest. If they did they would have a pro rata share of ALL companies based upon their market capitalization. They would have never acquired 3% (far less 9%) of SAVE without having a similar capitalization percentage of everyone else, which they obviously don’t. If they ever did set up a computer program to do that the small lot charges would eat them alive. They APPROXIMATE the CRSP by CHOOSING stocks that they believe represent asset classes. And that’s just the index funds. Most Vanguard funds ( not the biggest perhaps) are actively managed. But none of that matters to the point I was making which is that with ~ 60% institutionally held AND a poison pill NK is an unlikely target for a hostile buy out. My other point, that we should treat our newbies better if we want to keep them you and I can still disagree about, but with even MESA giving their newbies a $20k bonus just for passing IOE, our first year remuneration is looking increasingly embarrassing. Ummm...I don't think we actually disagree but...maybe? VTSAX absolutely holds all ~4000 companies on the CRSP index and they trade in those positions daily. They're not technically holding the "Total Stock Market" as the fund name implies, but that's because CRSP intentionally excludes some stuff. To be added to the CRSP index, a company must operate a for-profit U.S. business, have a stock-market value of at least $15 million, and at least 12.5% of its shares outstanding must trade publicly, among other criteria. CRSP adds and drops stocks every quarter, and reflects some big initial public offerings and secondary offerings in a matter of days. Additions to the CRSP index—and thus, to the Vanguard fund—can rock parts of the market. When 164 stocks were added to the index in mid-September, their combined trading volume that week doubled from the average of the prior four weeks, according to FactSet. And their prices jumped 3.6 percentage points more than comparable microcap stocks in the same five-week period." Apple is like 5% of net assets of VTSAX. The position in SAVE is probably 0.1% or less of the net assets of VTSAX. There was a great WSJ article (I pulled that quote about CRSP from it) called "The Mutual Fund That Ate Wall Street"....recommended read. |
Spirit’s FY21 / Q4 results to be announced February 9th. Legacies are still bleeding money right now, but Delta is on the path to profitability - United in trail, and AA … well, they lost just under $1 billion in the last 90 days.
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Originally Posted by Voski
(Post 3356642)
AA … well, they lost just under $1 billion in the last 90 days.
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Originally Posted by Excargodog
(Post 3356073)
First of all read the prospectus:
Even mighty Vanguard does not REALLY passively invest. If they did they would have a pro rata share of ALL companies based upon their market capitalization. They would have never acquired 3% (far less 9%) of SAVE without having a similar capitalization percentage of everyone else, which they obviously don’t. If they ever did set up a computer program to do that the small lot charges would eat them alive. They APPROXIMATE the CRSP by CHOOSING stocks that they believe represent asset classes. And that’s just the index funds. Most Vanguard funds ( not the biggest perhaps) are actively managed. But none of that matters to the point I was making which is that with ~ 60% institutionally held AND a poison pill NK is an unlikely target for a hostile buy out. My other point, that we should treat our newbies better if we want to keep them you and I can still disagree about, but with even MESA giving their newbies a $20k bonus just for passing IOE, our first year remuneration is looking increasingly embarrassing. FUPME might be a mantra some believe appropriate directed at management, it shouldn’t be how we treat our junior pilots - not if we expect them to stay. |
https://www.barrons.com/articles/sou...?siteid=yhoof2
Southwest had a meltdown (I think I was before January 1st) and was still able to post a profit. Let’s hope Spirit can do the same. |
Originally Posted by Halon1211
(Post 3360867)
https://www.barrons.com/articles/sou...?siteid=yhoof2
Southwest had a meltdown (I think I was before January 1st) and was still able to post a profit. Let’s hope Spirit can do the same. |
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