Guy seems to have put on the spending trousers and ran out buying everything he could find after the disaster with Horsehead. I hope that he has corrected his checklist so that these kind of things will not happen with the new investments.
New holdings were:
Enlink - An American natural gas company
Ferrari - An Italian origin car producer that were spun-off from Fiat Chrysler not that long ago.
Moodys - An American crook company that provides credit "ratings" based on the highest bidder/payer. They have still to be punished for their part in the last financial crisis.
Seritage - An American REIT.
For the previous report please click on Aquamarine Capital: Guy Spier Q4 2015.
Conclusion: Extreme activity! Extreme! Four new investments and one kicked out which comes form that they went bust... but still. I cannot tell if this activity comes from a desperate attempt to cover the losses quickly or if it simply comes from that the share prices dropped down very nicely in February which every value investor could and should have profited from.