Mark Cuban Files 13G on Reading International (RDI) ~ market folly

Wednesday, June 10, 2009

Mark Cuban Files 13G on Reading International (RDI)

We don't track Mark Cuban on the blog, but we saw this and thought it was interesting. Cuban has recently disclosed a 10.5% stake in Reading International (RDI) through a 13G filed with the SEC. He now owns 157,411 shares. Cuban of course is well known for his ownership of the NBA franchise Dallas Mavericks. He is also a decently active investor as he sometimes discusses the markets on his blog. And, in the past, Cuban also funded a hedge fund (Precept Capital) based on his tech background which he later sold. For a list of hedge funds that we track on a daily basis, check our portfolio tracking series to get the latest updates.

Taken from Google Finance, Reading International is "an internationally diversified company principally focused on the development, ownership and operation of entertainment and real property assets in the United States, Australia, and New Zealand. The Company operates in two business segments: Cinema Exhibition, through its 58 multiplex theatres, and Real Estate, including real estate development and the rental of retail, commercial and live theatre assets."

Photo courtesy of AP/photo/Todd Breckenridge

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