gordoffh Posted March 7, 2011 Posted March 7, 2011 not sure if this had been posted however there has been considerable insider buying recently. see canadian insider. i just got new ipad and still trying to figure out how to copy paste but fairly large sums for this group.
Alekbaylee Posted March 7, 2011 Posted March 7, 2011 tx for the tip Gordoffh, it's meaningful indeed : http://www.canadianinsider.com/coReport/allTransactions.php?ticker=FBK Mar 04/11 Feb 28/11 Desjardins, Pierre Direct Ownership Convertible Debentures (7% convertible unsecured subordinated debentures) 38 - Redemption, retraction, cancellation, repurchase -25,000 Mar 04/11 May 25/10 Desjardins, Pierre Direct Ownership Convertible Debentures (7% convertible unsecured subordinated debentures) 00 - Opening Balance-Initial SEDI Report Mar 04/11 Mar 03/11 Côté, Pierre Gabriel Direct Ownership Common Shares 10 - Acquisition in the public market 9,000 $1.430 Mar 04/11 Mar 03/11 Côté, Pierre Gabriel Direct Ownership Common Shares 10 - Acquisition in the public market 40,000 $1.440 Mar 04/11 Mar 02/11 Côté, Pierre Gabriel Direct Ownership Common Shares 10 - Acquisition in the public market 50,000 $1.430 Mar 04/11 Mar 01/11 Côté, Pierre Gabriel Direct Ownership Common Shares 10 - Acquisition in the public market 25,000 $1.470 Mar 04/11 Mar 03/11 Paradis, Dany Direct Ownership Common Shares 10 - Acquisition in the public market 4,600 $1.400 Mar 04/11 Mar 02/11 Paradis, Dany Direct Ownership Common Shares 10 - Acquisition in the public market 400 $1.400 Mar 04/11 Mar 01/11 Paradis, Dany Direct Ownership Common Shares 10 - Acquisition in the public market 5,000 $1.420 Feb 25/11 Feb 23/11 Lamarre-Cliche, Emmanuelle Direct Ownership Options 50 - Grant of options 94,729 On another note, looks like Fibrek is not the only one to see a bright future in paper : http://ca.finance.yahoo.com/news/Paper-Excellence-invest-200-capress-3280370143.html?x=0
Guest Dazel Posted March 7, 2011 Posted March 7, 2011 disclosure. He likely bought our shares...we have sold half our position...we see better opps elsewhere...nice to see management out their money where their mouth is... Our selling is likely the catalyst you guys need for a share move! Dazel.
cwericb Posted March 7, 2011 Posted March 7, 2011 Re management buying shares. Now that's interesting because the more management has personally invested in this company, the more incentive they would have to promote and shop FBK because if the company goes, their jobs probably go as well. However if they can make enough from their personal holdings then that may be a different story. Considering that they could have bought in for a lot less a few months ago this would seem to be a good omen for shareholders. I wonder if an offer is in the wind?
Uccmal Posted March 7, 2011 Posted March 7, 2011 Considering that they could have bought in for a lot less a few months ago this would seem to be a good omen for shareholders. I wonder if an offer is in the wind? Last I checked that is illegal, is it not? Now, if an offering is just in the wind, as it were, the burden of proof would probably be a little high to prove insider trading. More likely, they saved cash from their salary, and still see the company as undervalued. There is also the price of pulp. It is reasonable to assume that management feels more confident that the price is going to stay up, or that they are getting price increases themselves with their regular clients, which would create a whole new ball game.
Uccmal Posted March 7, 2011 Posted March 7, 2011 Oh, thanks Dazel, I see this second round of management buying as a great plus. One time can be explained away as management trying to put on a positive spin. The second time for with a larger number of shares shows more conviction.
SharperDingaan Posted March 7, 2011 Posted March 7, 2011 "He likely bought our shares...we have sold half our position...we see better opps elsewhere...nice to see management out their money where their mouth is..." So you were the other guy that was selling at the same time we were! .... We reached a similar conclusion & have taken our gain to date off the table. SD
Myth465 Posted March 7, 2011 Posted March 7, 2011 disclosure. He likely bought our shares...we have sold half our position...we see better opps elsewhere...nice to see management out their money where their mouth is... Our selling is likely the catalyst you guys need for a share move! Dazel. Lol I was looking at selling this to raise capital and hold cash which at this point seems like a better prospect. Interest. I figure I can only complain about management for so long. The real question though is what are these better ops you guys see?
cwericb Posted March 7, 2011 Posted March 7, 2011 So two of the smarter guys on this board sold, which for me would be a strong indication that it may be time to get out. But on the other hand, we finally see some serious insider buying at long last and I have to ask myself why would Cote spend $180,000 of his own money buying shares at $1.40+ unless he was pretty sure there was an upside? Until I saw that, I was thinking like Myth, that this might be a good place to build up a little cash. But I find the timing interesting. With FBK sitting at $1.00 for so long you have to wonder why Mr. Cote would choose to buy shares at this point? I wouldn't suggest that he was aware of anything concrete that might cause a jump in share price, but he could well have indications that there could be something happen in the near future that would positively impact share price. For instance, if he knew an offer was being made for the company, a share purchase at this time would probably be insider trading. However, if he knew that there were a couple of companies seriously sniffing around, then that would be fair game would it not? Or perhaps he just feels that the company is undervalued and knows that the company will be taking steps to improve its image in the eyes of investors in the future. Either way, I think I will stick around for a bit here.
SharperDingaan Posted March 7, 2011 Posted March 7, 2011 You should note that selling down a position, is not the same as selling out of a position - we still hold a high weighting in FBK. The funds were moved into PD for diversification & a more reliable chance of doubling. SD
cwericb Posted March 7, 2011 Posted March 7, 2011 I wondered if that was the case. I was just looking at the chart again and FBK stayed at about $1.00 for five months and it was only about 2 months ago that it jumped by 40-50%. This just strengthens my curiosity about the timing of the insider buys and makes me think that there could be good things to come and perhaps not all that far in the future.
Myth465 Posted March 7, 2011 Posted March 7, 2011 But on the other hand, we finally see some serious insider buying at long last and I have to ask myself why would Cote spend $180,000 of his own money buying shares at $1.40+ unless he was pretty sure there was an upside? Until I saw that, I was thinking like Myth, that this might be a good place to build up a little cash. Similar to SD, I have more conviction in ATSG than FBK. I think its an easy double from here. Also with nearing options, and significant exposure to oil and gas. I think its prudent to raise cash. Decided to sell FBK and SSW. I still like them both and may buy back SSW, but these are my least conviction ideas right now. SSW is up 50% and FBK is well FBK. I wonder why the other smart guy sold. We know that SD has bought PD (Precision Drilling?) Uccmal what are you up to?
alertmeipp Posted March 7, 2011 Posted March 7, 2011 The smartest guy holds on to his FBK shares. :'(
Myth465 Posted March 7, 2011 Posted March 7, 2011 The smartest guy holds on to his FBK shares. :'( Lol this may just be the case. I hope it doubles for you and ATSG goes up 105% ;D.
Uccmal Posted March 7, 2011 Posted March 7, 2011 Myth, I have sold about 15% down from my peak holdings in the last couple of weeks. Its been more across the board selling of everything. The FBK position had gotten too big for a cyclical. Sold some FFH (15%) last week as well. The premise behind reducing my big position in FFH is that it will likely get cheaper before it rises. My holding in SSW hasn't changed much in recent weeks. If they start to re-increase the dividend at SSW it may become increasingly lucrative. I can see it easily tripling from here over a couple of years if the dividend comes back up to $1.60 or higher. I like PD too but hadn't thought of increasing my position. Hold a similar size of Akita, and Mullen, and Russell Metals. Russell is expensive but pays a good dividend. Getting a little off topic. On topic: Still hold a similar size position in CFX as PD et al.- looking to see where they put the dividend.
alertmeipp Posted March 7, 2011 Posted March 7, 2011 The smartest guy holds on to his FBK shares. :'( Lol this may just be the case. I hope it doubles for you and ATSG goes up 105% ;D. Sounds good. what's the timeframe like?
Guest Dazel Posted March 7, 2011 Posted March 7, 2011 You do not have to go far to see where we are reinvesting....investment ideas board...als...their biggest asset is cash and investable assets...pls see dislcosure there. we have held the Fibrek position for years...and would welcome a fall back to a $1...however, we still have several chips on the table for the sale of the quebec plant...we sold before we knew that managment was finally making investments. Dazel.
Myth465 Posted March 7, 2011 Posted March 7, 2011 Sold some FFH (15%) last week as well. The premise behind reducing my big position in FFH is that it will likely get cheaper before it rises. My holding in SSW hasn't changed much in recent weeks. If they start to re-increase the dividend at SSW it may become increasingly lucrative. I can see it easily tripling from here over a couple of years if the dividend comes back up to $1.60 or higher. As do I. It was a tough one to sell and I will likely regret it in a few weeks if they announce a div increase. I hope to be able to buy back in to FBK (I too welcome a $1 over the next range) and SSW sooner or later. Right now things are quite jittery and I feel a bit better with 14% cash vs. 3%. I also figure if we get a pullback FBK will go down more than anything else I owned. I am still kicking myself for not buying Precision, but I own some of the offshore guys. Uccmal, thats the main reason I dont hold FFH. If they are right they will sell off just like everything else. IV will be going up, market price down. That will be the time to load up. The bonds and hedges should rally quite a bit with a downturn. Dazel, thanks again for the tip. You are however part of the problem. Its tough to hold onto cash with you guys posting ideas :). ---- alertmeipp, Hopefully by this time next year. Either way it will be a wild ride with either stock. Both are pretty volatile.
UhuruPeak Posted March 8, 2011 Posted March 8, 2011 "He likely bought our shares...we have sold half our position...we see better opps elsewhere...nice to see management out their money where their mouth is..." So you were the other guy that was selling at the same time we were! .... We reached a similar conclusion & have taken our gain to date off the table. SD Funny - looks like a number of us have been selling in the last few days. I exited SSW last week and sold out of FBK today. I may end up regretting it, or may be not - we shall see PS: all cash will be reinvested in Silver / Silver miners w/in the next few days as I expect a pullback there. Not trying to convince anyone that what I'm doing is the right thing for every one, please don't shoot bullets at me - just disclosing the reason I'm selling two pretty good investments.... which I may rejoin in a couple of months. btw - Uccmal, do you really think SSW will increase the dividend when they still appear hell bent on acquiring yet more ships? I'm curious, the thought hadn't crossed my mind
Myth465 Posted March 8, 2011 Posted March 8, 2011 "He likely bought our shares...we have sold half our position...we see better opps elsewhere...nice to see management out their money where their mouth is..." So you were the other guy that was selling at the same time we were! .... We reached a similar conclusion & have taken our gain to date off the table. SD Funny - looks like a number of us have been selling in the last few days. I exited SSW last week and sold out of FBK today. I may end up regretting it, or may be not - we shall see PS: all cash will be reinvested in Silver / Silver miners w/in the next few days as I expect a pullback there. Not trying to convince anyone that what I'm doing is the right thing for every one, please don't shoot bullets at me - just disclosing the reason I'm selling two pretty good investments.... which I may rejoin in a couple of months. btw - Uccmal, do you really think SSW will increase the dividend when they still appear hell bent on acquiring yet more ships? I'm curious, the thought hadn't crossed my mind Humm when the pullback happens we will need some names. Everyone is talking about silver. Its out of my circle. UhuruPeak that was part of my sales rationale. They are bent on expanding in what I consider a weak market. I dont think they have a choice though, the competitors are expanding as well and the new ships are more fuel efficient. With that said I think they can do both. Increase the div based on cash flow, and buy ships using debt. Its in their best interest to move the SP higher and a few dividend raises will do that. How / Why did you pick SSW and FBK to sell?
Uccmal Posted March 8, 2011 Posted March 8, 2011 Uhuru, btw - Uccmal, do you really think SSW will increase the dividend when they still appear hell bent on acquiring yet more ships? I'm curious, the thought hadn't crossed my mind See SSw thread.
Alekbaylee Posted March 8, 2011 Posted March 8, 2011 US Pulp prices (NBSK) up nicely this week http://www.foex.fi/
UhuruPeak Posted March 8, 2011 Posted March 8, 2011 Humm when the pullback happens we will need some names. Everyone is talking about silver. Its out of my circle. UhuruPeak that was part of my sales rationale. They are bent on expanding in what I consider a weak market. I dont think they have a choice though, the competitors are expanding as well and the new ships are more fuel efficient. With that said I think they can do both. Increase the div based on cash flow, and buy ships using debt. Its in their best interest to move the SP higher and a few dividend raises will do that. How / Why did you pick SSW and FBK to sell? Re. silver, "either you get it or you don't" :) there have been numerous discussions on this board, and many here have no interest in this sector, which I am totally fine with. My first purchase was at $5.5 I think, and silver is now ~$35. I believe the next couple of months are going to be like fireworks, hence my decision to forgo any diversification and go all-in in silver (AQG, a fund doubling the moves of the metal) and silver miners (SIL, an index). In the process, I have sold every thing else, including gold miners (GDXJ) and a 4th (tiny tiny) position I had, Strathmore Minerals. I can't tell you about fundamentals, but I can tell you about 'Old Turkey' from "Reminiscences of a Stock Operator" of Jesse Livermore fame: it is a bull market you know Uccmal, I'll check the SSW thread, thx
Myth465 Posted March 8, 2011 Posted March 8, 2011 Thanks, you really are putting your money where your mouth is.
lessthaniv Posted March 8, 2011 Posted March 8, 2011 US Pulp prices (NBSK) up nicely this week http://www.foex.fi/ Tuesdays 4 pm 8.3.2011 Δ prev. week in currency Δ beg. 2011 in currency PIX US NBSK USD 979.36 +19.36 +12.25 PIX US Newsprint USD 626.92 0.00 +1.32 PIX US Newsprint 27.65lb USD 669.73 0.00 +0.43
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