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CorpRaider

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    2023: the year of cash and t-bills

    in General Discussion

    Posted · Edited by CorpRaider

    On 1/9/2024 at 9:47 PM, John Hjorth said:

    Question likely especially for @ICUMD and @CorpRaider,

     

    Which Canadian and / or North American banks are you invested in?

     

    I hope that you wouldn't mind to share. - Thank you in advance. - And as already written : All replies from everyone welcome!

     

    During 2023 the below ones. Only couple of shares of First Citizens because it exploded and left me behind.  I currently hold 0 shares of BAC.  I also own a few shares of TD in an account that I have established for my son and a few WFC and BAC preferred shares in accounts for older relatives.

     

    koyfin_20240111_101758155.thumb.png.acd7eee2b5e24b5c7f5d4d217bc4d2bf.png

    2023: the year of cash and t-bills

    in General Discussion

    Posted · Edited by CorpRaider

    Just did my 2024 end of year FF update blog post.  Looks like ~22% for 2023 and a 12.85% 5 year CAGR/XIRR.  Losing to the evil SPY on both counts, but doing pretty ok against other highly relevant and not at all cherry picked benchmarks.   

     

    I was interested to observe the dispersion in returns among the banks in my portfolio.

    Bonds!

    in General Discussion

    Posted · Edited by CorpRaider

    2 hours ago, tede02 said:

    Man, what a ride with rates this year (and equities I suppose)! Right now I'm feeling pretty good about shifiting a lot of cash to term debt over the last 4 months. I just missed the coveted 5% treasury note the day Ackman publicly said he was taking his rate bet off and long rates dropped back in the 4s. I bought a nice chunk of TIPS. Wish I had some more medium term nominals but you can't have it all I guess. 

     

    I follow the main inflation reports, (CPI, PCE, PPI, etc.) and the downward trend is quite strong. All that said, if I were the Fed, I personally would have preferred to maintain more hawkish rhetoric at least for a while. They pencil in 3 rate cuts for 2024 and now you have equities back to their highs and long rates plunging. This fights against what they're trying to do unless they do really want market expectations to start easing conditions. 

     

     

    I am beginning to understand why the psychology/ institutional incentives have historically (ok N = like 5) led to premature cutting and declarations of victory.  Not drawing a conclusion that will happen this time, just that I think I see why that would be the most likely path.  Seems you kind of need that real crisis/boogie man to get the rope to do the thing properly.  I suppose it all kinds of feed back into the anchoring of the crowd which is imop best explanation for time series momentum/trends.

    What are you buying today?

    in General Discussion

    Posted

    2 hours ago, jouni1 said:

    Interested as I missed out on XPO despite buying it once 😄 Do start a thread to keep track of this. Sounds like the best time to purchase isn't probably right now though

    Yeah I'll probably at least wait until he wraps up his book tour before taking a real look.  haha.

    What are you buying today?

    in General Discussion

    Posted

    1 hour ago, Jaygo said:

    Up 23% so far. Thankfully it was just a tracker so I wont get an ego. Nor much more than a champagne lunch for one.

     

    Anyway Brad Jacobs will be using this as a platform for his building products dist acquisitions.  After reading the filings the  owners of SSNT will only be getting 15 basis points of the new co and a 2.5 million dollar or 5% one time dividend. So the jump up in shares seems just news driven and will not be overly beneficial. The value of brad Jacobs entity to current shareholders is roughly 10 million or 20% of current cap. 

     

    Is there a thread on Building products distribution? may be time to start one since Site, ferg, Building products group, richelieu have  all done very very well and now we have one of the best acquisitors coming into the space. 

    I have some relatives who, to all outward appearances, have done very well in this space over time.

    Undergraduate Student Looking to Begin Investing. Resources to get started?

    in General Discussion

    Posted · Edited by CorpRaider

    I would start with the Buffett letters book edited by Prof. Lawrence Cunningham, Bogle's Little book of common sense investing, and You Can be a Stock Market Genius by Prof. Greenblatt.  If you're not really interested in working in the area or just enjoy participating and helping capitalism function while learning about the world, don't forget that you can index and kick nearly everyone's ass.

    What are you buying today?

    in General Discussion

    Posted

    8 hours ago, Dinar said:

    Why do you say shit NY apartments?  A very substantial portion of the value is the Tribeca House, Brooklyn Heights property, 1010 Pacific, Dean Street property, the Upper West Side property and the Aspen, none of which  I would call garbage.  Sure, the Flatbush property is in that category, but how much value net of mortgage do you assign to it?

    I meant...sheeeeeeatt <pause> NYC apartments for...(cheap).  Like as an expression of incredulity.  Yeah Flatbush is free/paid option.

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