Larry - you are correct. That statement made no sense.
A holding company structure can compartmentalize liabilities, but there is no way a holding company can hold a fraction of the shares and somehow enjoy benefits equal to what they would have holding all of the shares of one of the portfolio companies.
If that were true, you could have 5 holding companies each hold 20% of a given company, and have ALL FIVE claim 100% of the value/benefits from the subsidiary, which of course is nonsense.
I think there may be value in IDNG, or at least5 a spike when the name change to Red Hawk goes through. I believe this in spite of, not because of, CK's creative valuation posts.
If I could afford to buy all of them, I would not need to buy any of them and I sure wouldn't be spending time on the message boards!
