Erez Reports 5.8% Stake in Empire State Realty Trust

What BBN said about it

1. 

   Hank Ledger · Lead AnchorBenzinga reports Erez Asset Management, with Bruce Schanzer, disclosed a five point eight percent stake in Empire State Realty Trust.

2. 

   Hank Ledger · Lead AnchorThey say the shares are undervalued.

3. 

   Hank Ledger · Lead AnchorThey also discussed a potential strategic review with the board. Joining us by satellite is economist Cornelius Plunkett-Okafor, author of 'I Called It Both Ways.'

4. 

   Hank Ledger · Lead AnchorCornelius, did you see this coming?

5. CP

   Cornelius Plunkett-OkaforHank, I predicted this in March. And, importantly, I also predicted the exact opposite in April. I am therefore undefeated. Chapter nine explains.

6. 

   Hank Ledger · Lead AnchorChapter nine is the one where you were right twice?

7. CP

   Cornelius Plunkett-OkaforChapter nine is the one where being wrong is a form of timing. It's forty-nine ninety-five, and I'm told it also works as a coaster.

8. 

   Hank Ledger · Lead AnchorErez says the stock is undervalued and wants a strategic review. Is that bullish or bearish? Pick one, please.

9. CP

   Cornelius Plunkett-OkaforBoth, Hank. Activists are like a smoke alarm at three in the morning. Either there's a fire, or the battery is dying.

10. CP

    Cornelius Plunkett-OkaforI sleep in my car.

11. 

    Hank Ledger · Lead AnchorWe'll have to leave it there. Cornelius Plunkett-Okafor, thank you. Please sit down, you're standing on the book.