Lakesider

https://www.moneycontrol.com/news/business/markets/csb-bank-surges-57-on-debut-day-should-investors-buy-sell-or-hold-4698961.html

I've been thinking the same recently, I've been overweight energy for the past couple of years... OPS! Been running a concentrated portfolio and i'm obviously my own worst enemy. Thinking about doing a bit of a greenblatt and putting the bulk of my money in an index and then investing in the one or two ideas I have. (got to find some way to under perform ;)).

Sold out of XRO AU, Valuation got a bit nutty at 17 times revenues.

Added to EAF on friday.

TOO, -25%

Sold NXPI, bought some EAF.

Value investing with legends. https://www8.gsb.columbia.edu/valueinvesting/resources/podcast This podcast is great, also on Spotify and apple podcasts.

Who knew I could feel sorry for a billionaire. ;)

I'd like to be a better investor next year than I am now.

MU, riding the 13Fs

Sold out relatively large position in PBY:GR bought a little STNE

I added to GXE this week too.

I think its likely a good time to be investing in the sector, rates have been in a trough over the past couple of years and operators have been taking losses. New deliveries are at a turning point in 2019 and capacity should start decreasing over the next few years, rates have steadied and could continue upwards. New legislation in 2020 for low sulphur fules will increase the cost of running older ships so scrapping could increase further. A lot of these tanker operators have been trading at discounts to the liquidation value, hard to tell at first glance but they could have got a very good price.

Agreed, I don't think the market was giving it much value anyway.

New letter from the boards favourite hedge fund. ;) https://drive.google.com/file/d/1W8cHASX6-hodil8f2KsnZdbWwkERXCjw/view

I've been hedging against my own stupidity by putting any retirement contributions into index funds. ::)

If you keep rates at all time lows, what course of action do you have when during the next recession? Negative rates?

AR and NIF.UN

WFC and AER

Bought more naspers. Can't stop.

Still not as bad as some of the Crypto arguments during the peak.

JPM

If they hurry up with the divestitures we should start to see some value. Likely that they will use proceeds to purchase more poor investments however.

http://dundee.financial/dc/-/media/DGC/DC/2018-11-14-Q3-results.pdf

More AR