EBITDAg
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Posts posted by EBITDAg
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2 hours ago, Gregmal said:
NIce. Yea these guys are doing something incredible. Sports monetization is all about the licensing and Rubin has basically used Fanatics plus initial ownership in a couple teams to infiltrate that ecosystem. It started out as just apparel and now its basically in everything. This will be a royalty like machine on the Big 4 American Leagues. The key of course, is you need the teams and leagues to grant you the licenses...and well, he's allowed the Players Unions to be large investors in Fanatics....how brilliant. Its now in the Players interests to let Fanatics make as much money as possible.
I do wonder how sustainable their growth is when their product quality is complete garbage. Great companies don't cut corners. I wonder if their sports cards are as bad as their apparel.
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This guy does a pretty good job of covering CPI. http://bonddad.blogspot.com/2023/10/except-for-fictitious-shelter-and.html
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1 minute ago, james22 said:
WFC-L at $1,074 today (pays $75/share/year) for a 7% yield,
BAC-L at $1,070 (pays $72.50) for 6.8%.
https://www.philosophicaleconomics.com/2017/03/a-value-opportunity-in-preferred-stocks/
I've also been adding small amounts over the past few days.
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WFC-L. ~6.6% yield that might as well be a perpetuity. Will hold for a long time or sell if rates plunge in future and these go back to ~$1300+ again.
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My favorite quarterly commentary on energy (and commodities more broadly) is out. http://gorozen.com/research/commentaries
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8 minutes ago, Parsad said:
Fully agree!
Tomorrow morning, you'll essentially be able to buy a global company, with $120B in revenues, $30B in annual profit, $40B in cash/securities, $9B in debt, buying back $3-6B of shares a quarter, with 3B users worldwide for a single digit P/E!
Cheers!
As a bagholder, unfortunately that company just did $0 in FCF, and that's with $3B in SBC not burdening that calc, in Q3. YTD FCF with SBC backed out is now implying a ~2% FCF yield on 2022 numbers, with no desire to pull back on expenses, so that number is probably even lower on '23 figures. Just a terrible intermediate term outlook.
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1 hour ago, Ulti said:
As a counterpoint, http://bonddad.blogspot.com/2022/06/a-comment-on-housing-inflation-and-fed.html
"...1/3rd of the entire CPI reading is housing, and housing prices have been on a tear. That gets reflected, with a 12 to 18 month lag, in “owner’s equivalent rent” (OER), which is currently at a 30 year high...Well, house prices are still up (awaiting tomorrow’s updates) about 16% YoY. That is going to continue to feed into OER for the next 12 months at least.
In other words, the only reason inflation declines in the next 12 months is if the non-housing 2/3’s of the number slows down drastically."
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In the first situation, you could sell just the second lot, reducing taxes in that situation given the much higher cost basis (or sell this lot and take capital loss if price declines while still holding first lot). But otherwise, comparing the first lot in situation one to the second situation, yes they are different since the capital gains are different.
Dividend stocks
in General Discussion
Posted · Edited by EBITDAg
Picked up some TAP. 2.6% div yield and a 9% FCF yield. Has now paid down enough debt that they should be able to start buying back plenty of shares in coming years. I think they should be able to grow earnings MSD and get me to a low teens CAGR over the next decade.