Like holding a beach ball underwater

[gfp]

Tomorrow is New Year's eve!  Who's got some juicy end of year tax-loss harvesting candidates that are trading especially weak into the flip of the calendar year?

[Whensthepaintdry?]

I already sold BOC earlier in the year for a tax loss. 

[Spooky]

CSU had a bad year. Could see people selling and rebuying.

[Buckeye]

Whatever you do, do not buy FFH! It’s super weak…and getting weaker!

 

-C. Block 

 

[gfp]

So far, it seems like the crappiest restaurant stocks one could find are the standout performers.  PTLO (Portillo's) is the best one so far.  CBRL also had GMT dumping shares daily going into the end of the year.

[tnathan]

I have portillos calls since late last year. Trading below book value, all they need to go is somewhat stop the bleeding in the newer restaurants (or better yet, close a bunch)

[gfp]

3 minutes ago, tnathan said:

I have portillos calls since late last year. Trading below book value, all they need to go is somewhat stop the bleeding in the newer restaurants (or better yet, close a bunch)

 

I thought about doing more than a January trade in it but I ordered the founders book and the number of times he calls the business model super complicated convinced me to limit my involvement to a quick tourist pop and GTFO*

 

*one of my early mentors used to always use this phrase, he said it stood for "Get the Funds Out!"

[cubsfan]

1 hour ago, gfp said:

 

I thought about doing more than a January trade in it but I ordered the founders book and the number of times he calls the business model super complicated convinced me to limit my involvement to a quick tourist pop and GTFO*

 

*one of my early mentors used to always use this phrase, he said it stood for "Get the Funds Out!"

 

Smart man you are. Dick Portillo was a fanatic and extremely hands on - his employees loved him - and unlike the typical restaurant work force - his employee retention was incredible - since he treated them so well, at the same time demanding perfection, cleanliness and 100% customer service.

 

The private equity guys couldn't replicate the founder's formula in the expansion phase.

 

Learned my lesson!

[gfp]

1 minute ago, cubsfan said:

 

Smart man you are. Dick Portillo was a fanatic and extremely hands on - his employees loved him - and unlike the typical restaurant work force - his employee retention was incredible - since he treated them so well, at the same time demanding perfection, cleanliness and 100% customer service.

 

The private equity guys couldn't replicate the founder's formula in the expansion phase.

 

Learned my lesson!

 

And Mike I learned he was half Mexican, I thought he was just super tan this whole time.  We should have been calling it Por-tee-O's!

[cubsfan]

1 minute ago, gfp said:

 

And Mike I learned he was half Mexican, I thought he was just super tan this whole time.  We should have been calling it Por-tee-O's!

 

Shit, I didn't even know that. Back in 2010, I did a presentation comparing Portillo to McDonald's and why Buffett should buy it. I got to interview Dick and was amazed by his story. 

 

He totally shunned MBA's and told me all he wanted was poor hardworking class guys that "wanted to get rich". Then he would just promote and promote from within as he expanded his store base. Quality and service was all that mattered. He couldn't stand McDonald's management and his HQ was right next door to McDonald's HQ in Oak Brook.  He's a legend in Chicago.

 

I guess I ought to have read his book!