Red Lion

You're welcome! I feel like I really need to dig in to look for opportunities, now that I can't find any low hanging fruit with the alts. I do still feel like the group BX/ARES/KKR/APO/BAM/CG/OWL can do well over the long term, but the valuations are high across the board.

Seriously! I think I'm close. I just sent you a message.

Bought JOE in my retirement account after trimming my largest position (OWL) after a recent runup. I've done well on JOE before in my taxable accounts, but sold around current prices to free up capital for some private real estate investments. It's been on my mind to start building back a position.

I trimmed some OWL in my retirement account. I've lost more money selling winners than buying losers, and I try to remind myself of that. But the retirement account is heavily concentrated, and I just can't take advantage of these short term gains in my other investment accounts without paying a punitive tax rate. I immediately rolled the proceeds into JOE (starting the position inside my retirement account). So after today's sale, OWL/APO are about equal weight in my retirement account, both accounting for ~20% positions. Nintendo and PM are at 15%. JOE and BTI are at 8%. CLPR/CPT/OXY warrants are ~4% positions.

Awesome, this one will probably get away from me by the time I get comfortable with the moving pieces. Sounds like a killer setup.

I'm not familiar with this at all, but I had to look it up since you have a habit of hitting these special situations on the head and walking away with buckets of Benjamins. The only news article I saw mentioned that New York Supreme Court ruled in favor of GYRO. Are you concerned about an appeal? Isn't Supreme Court the trial court in New York? Or was this just another instance of sloppy journalism?

Seriously, I haven't ever invested in any of his businesses, but to listen to every halfwit progressive talk about how stupid Elon Musk is just blows my mind.

I agree with you in sentiment, but charts like this should serve as incentive. Not to be excluded due to class warfare sentiment that will be bandied against them.

Bought a tracking position in CP while I do further research. Not finding a lot of value in the markets currently, but I've been spoiled over the last 5 years buying alt asset managers at too cheap valuations. I really like the combination of reoccurring annuity like revenues, high ROIC, high growth, and a below market valuation. Not finding all 4 in any of the companies on my radar right now.

@Dinar This is an excellent response. Thank you!

I've been looking at this name again since you mentioned it a few weeks back, and I had been following for a few years around the time of the merger. This has perennially been one of those companies I want to buy, but can't wrap my head around the valuation. I'm trying to expand my perspective so this is very helpful. So you're willing to value this on 2029 numbers, with the understanding that it's an irreplaceable asset that should be able to maintain superior pricing power for a long period beyond that? Would this company be a net benefit of a trump/Harris administration? I'd like to understand this rationale more and get comfortable with it. I've missed out on a good investment over the years with CP, and really missed the boat on railroads in general. It seems like they really should have been a concentrated buy and hold type position when factoring in past stock performance in my investing lifetime.

Bought some OXY warrants in my retirement account. Open to doing a swing trade on these if it works out.

I've done this on a couple houses recently and I can vouch for the fact that it's definitely cheaper and way less hassle to just buy a brand new track home. Not that I'd want one, even though I'm a (geriatric) millennial.

I think the asset heavy alts were coming off of a more significant sell off. I definitely think ares/bx compare well (particularly with a 50/50 weighting) over a multi year period. also think owl should be in contention as far as asset light is concerned. OWL and BAM are both new to the market and BX and ARES didn’t really get hammered nearly as bad as BN/apo/kkr.

Beat me to it, I've been planning to open a position here in the near term.