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What a Lovely Frickin' Day!


Parsad
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Bought more of BRK.B.

 

80% is in BRK.B now, 16% in FFH. 4% cash. The beauty is that I am European so in the end my return in EUR is what counts. I'm confident in the end the dollar can be a nice hedge in an extreme market downturn.

 

I could be way too soon but then again, I could just shift to "higher risk" stocks if the market plummets. Probably the reason I choose for more BRK today and not DELL or MSFT, it is way easier to buy.

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Days like these are why I started a fund!  We were buying like crazy.  I think our partners will be happy within the year...I hope!   ;D  Cheers!

 

Good to be greedy when other are fearful.

 

If you don t mind me asking, are you scaling in 1-2 % at a time or are you buying 5-10%?

 

I bought some ALS.TO, BRK.B.

 

Good to have dry powder.

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If you don t mind me asking, are you scaling in 1-2 % at a time or are you buying 5-10%?

 

We were scaling smaller than 1-2% for the last couple of days, and then today we started scaling in through the day in 1-2% shots!  We went in big today!  

 

If things continue to fall, then we go in with what cash we have left.  If they fall further like in 2008 (I don't think we'll get anywhere close...maybe 1000 on the S&P at best) then we sell some stalwarts and continue to buy cheaper stuff.  If we see anything worse, we do what Buffett did and sell things at 5 times earnings to buy stuff at 3 times earnings.  Cheers!

 

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Bought a little more BRK and considering more FFH, MSFT, & WDC.  My gut still turns on days like today, but how can you not buy BRK at $71?  Only a little cash left; may close out SHLD and VZ to concentrate on better values.

 

 

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I understand the appeal of BAC but what about WFC at these levels? Why buy second hand when the fur coats are on sale?  I wouldn't be surprised to see Wells throw out $4/share earnings in 2013.  

 

Hey we bought both today!  Both are really cheap and completely undervalued.  Cheers!

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It will be interesting to see where we go from here. The press is going to have a field day with this on the evening news tonight. I wonder if people will think back to 2008 & 2009 and start to panic...

 

I added to BRK (from 14% to 21% of overall portfolio). BRK reports tomorrow and I think they may disappoint. Should the BRK.B's fall below $70 I would be happy to buy and bunch more (and likely sell some ABT, MSFT etc). I am staying focussed on leaders with no debt and avoiding the speculative stuff (that is falling the most). As per usual I am lost when trying to come up with a plan to deal with currency issues (being Canadian) and liking US large cap the most right now.

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I understand the appeal of BAC but what about WFC at these levels? Why buy second hand when the fur coats are on sale?  I wouldn't be surprised to see Wells throw out $4/share earnings in 2013.  

 

Hey we bought both today!  Both are really cheap and completely undervalued.  Cheers!

 

Ha, same!  Well, bought WFC warrants yesterday and BAC warrants today.

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Aren't we a happy bunch of kids in a candy store..!  

 

Having no cash left is worrisome because it feels even more like you are out of control in the short term. Switching positions to cheaper ones also seems much harder than deploying cash. But the alternative, passing on obvious bargains in the hope it gets cheaper, seems much worse.

 

I would love to scale in with 1-2% at a time, but having a starters' portfolio in the lower range of 5 figures (student ;)) doesn't provide that comfort if you pay $10-15/overseas transaction.  :'(

 

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Now switching and moving up the quality curve.

 

sold some Merc, Safety Bulkers, fbk in the last couple of days - all at minor losses.

 

Buying SSW, WFC Warrants, Sun Life, BAC Warrants, MFC (small amounts in RSPs). 

 

FFH is proving the perfect hedge in this environment.  Each major down day sees FFH up.

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You guys probably wont believe me but im still more than half (alot more) in cash and I havent even purchased down on RIMM yet  :D

 

 

I dont know if its worthy but a while back i wrote when the knife drops there is alot of fat to go through (IMO obviously) ie there will be alot of room for panick because there is such a room of questionable gains that the herd may want to get out while they can still profit.

Who knows where the panic will lead.

 

Again, this is my own opinion so dont read it like im trying to convince anyone of what to do.

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Guest misterstockwell

75% cash and didn't spend a dime today.This is just the start of folks realizing we are in an economic slowdown. The averages are down 3 or 4% for the year. That's peanuts!

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