Red Lion

Starter in C. I don’t have any banking positions and am obviously tempted to buy a basket as I become more familiar with the landscape given the current market conditions and sell off. I do have a fairly high allocation to financials between the alt managers and insurance holdings, so I’m trying to gauge my position sizing accordingly.

Schwab just offered me today to match IB’s margin rate after I transferred my securities to IB. I declined and continued with the transfer, but I must say I didn’t realize margin was negotiable.

So far the fed seems to be hurting high paying tech jobs and we still have a huge number of unfilled low qualification jobs. As an anecdotal piece of evidence, my wife and I are both small business owners and it has been extraordinarily hard to find unskilled support staff ever since Covid, and wages are up 50%. I completely agree with your last statement and have noticed this myself. Covid was a a complete debacle that had permanently damaged our country and probably the whole world economy not to mention an entire generation of children.

Is it so bad to fuck the poor when the top 10% literally pays for all of the handouts that the poor survive on? Food stamps, section 8, Medicaid, welfare, discounted utility bills, SNAP, free college, etc? Our system is designed to fuck the rich and the poor just fuck themselves. There I said it.

Personally I buy a lot more than I sell, and usually sell only for tax losses. Trying to emulate @dealraker more and more in my investment style.

Started a new position in AMP.

Added to ARES and OWL

Yeah because inflation is just going to be gangbusters and the economy is going to grow during a global economic meltdown. Lmao What do you bet we find out he has a cds stake in a basket of banks.

Must have already built his CDS position.

I’ve been thinking of adding to Fairfax even though this goes against the grain at all time highs and higher price to book than recent past. Still, their setup for earnings looks great, and their leverage with float is a lot higher than BRK or MKL at a lower valuation. I think apo is under appreciated as a beneficiary of rising rates. The annuity contracts are longer term capital than banks and can be reinvested in assets with similar duration as well as some degree of floating rate assets. Annuity sales are probably going to accelerate with higher rates and market turmoil. Maybe it’s because I’m more comfortable with this subsector, but I see this as a better play than most banks. I think a combo of APO/KKR/BX is a lot more attractive than BAM/BN right now. I’ve diversified out of my high exposure to BAM/BN (down to a little under 5% mostly BN), and am seriously tempted to swap for extra apo/kkr/bx basket, but it’s all in a taxable account with a much lower cost basis since I’ve held most of this for a number of years.

I bought a hair more KKR and new starter in OWL.

Topped up KKR to equal weight with BX, APO, and BN.

Starter position (100 bps) in LSXMK.

LMAO

Interesting idea with the preferred here.

Started BIP in my retirement account with proceeds from sales of non / low dividend paying stocks which I switched to taxable acct. Added to BTI and PM. My 401k is starting to look like a seeking alpha dividend growth portfolio with a twist of BX variable dividend.

Added to century lithium.

Sold GOOGL/KKR/PYPL in my retirement account and purchased slightly more shares of each in my taxable account. Trying to get as many of my tax inefficient securities as possible into retirement account. Eg tobacco, reits, etc.

Great info don’t know how I hadn’t heard of these. Seems comparable to rolling t bills but less work.

Even then it seems like the hedge fund / private equity partnership structures are actually what made them rich. I love the idea of buying distressed bonds, and I’ve done it a couple times, but the tax issue alone is a huge problem If you’re trying to get wealthy and not putting these in a 401k, it seems very hard to earn a post tax ROI comparable to more efficient equities.

Are you referring to just rolling short term t bills? Or is there an actual floating rate treasury security?? I’ve been rolling them since 3 months rates hit 3% commission free, so this has the effect of a floating rate.

I did this right after the spin-off and then bought back the BAM shares at $27. If this was in a tax advantages account I would do it again, but don’t want to pay short term gains.

Starter in JNJ.

If you buy through a brokerage it’s usually $1,000 face amount. I’m not a big fan of treasury direct except I bonds, I use Schwab but I know fidelity and Ameritrade also have commission free trades on treasuries.

Rolled some t bills that matured yesterday to more maturing September of 2023 and 2024 for 5% ytm and a significant tax advantage compared to keeping money in a money market or high yield bank account. Rolled a lot more into my home remodel fund.