Guest swf83 Posted May 13, 2009 Share Posted May 13, 2009 Even as a long-term investor, days like today are pretty depressing. Do others add to their long positions in FFH on this type of pullback? Thanks- Scott Link to comment Share on other sites More sharing options...
Partner24 Posted May 13, 2009 Share Posted May 13, 2009 They are depressing if you have to sell some shares, but they are great if you buy some shares (like me) ;D Depend on wich side of the transaction table you are. Cheers! Link to comment Share on other sites More sharing options...
bargainman Posted May 13, 2009 Share Posted May 13, 2009 You're right, Mr Market is having a pretty depressing day! :) Remember, Mr Market is irrational impulsive manic depressive, don't let him drag you into his state of being! Link to comment Share on other sites More sharing options...
Myth465 Posted May 13, 2009 Share Posted May 13, 2009 Im very happy Got 50% cash and been waiting for 1.5 months for a pullback. What are you guys buying. I am looking at a few things and may add to FFH. Link to comment Share on other sites More sharing options...
Guest swf83 Posted May 13, 2009 Share Posted May 13, 2009 Myth, at what level are you looking to buy some more FFH shares? Link to comment Share on other sites More sharing options...
Uccmal Posted May 13, 2009 Share Posted May 13, 2009 I bought 100 shares of FFH-TSX today below $300 & 1 x 2011 Leap - 260. 250 US/ 300 BV = 83%BV; Link to comment Share on other sites More sharing options...
arbitragr Posted May 13, 2009 Share Posted May 13, 2009 well you didn't think that rally would last forever did you? I've been eyeing many high quality names, however they've run up so much ... with no real fundamental improvement in earnings power at all. Thankfully they're coming down to more sane levels now. Some of these banks are trading at like 20-30x earnings!! Where the business models have been completely destroyed at that. Link to comment Share on other sites More sharing options...
FlyingArrow Posted May 14, 2009 Share Posted May 14, 2009 I bought 100 shares of FFH-TSX today below $300 & 1 x 2011 Leap - 260. 250 US/ 300 BV = 83%BV; Hey Al, You bought one of the 260 leaps today and I bought the other two. Pretty thinly traded when you can watch your own trades pop up on Yahoo. http://finance.yahoo.com/q/op?s=FFH&m=2011-01 Cheers Link to comment Share on other sites More sharing options...
Guest swf83 Posted May 14, 2009 Share Posted May 14, 2009 Just curious...why own the LEAPS rather than the common stock? Simply because less capital is required for the LEAPS (compared to buying 100 shares of the stock for which 1 LEAP represents)? Scott Link to comment Share on other sites More sharing options...
alertmeipp Posted May 14, 2009 Share Posted May 14, 2009 I was expecting this sell off in the market. But to my surprise, Fairfax didn't do much better than some other stocks that moved up 100% in last few weeks. What a disappointment. The good news is I am a buyer today. Link to comment Share on other sites More sharing options...
Uccmal Posted May 14, 2009 Share Posted May 14, 2009 Just curious...why own the LEAPS rather than the common stock? Simply because less capital is required for the LEAPS (compared to buying 100 shares of the stock for which 1 LEAP represents)? Yes, and for the leverage. The 260s are slightly out of the money. If FFh goes up $80 the leaps will rise from $47 for what I paid today to around 120. That is a nearly a 3 bagger. The common cost me 250 and will be worth 330 with an 80 increase, which is ~ 20%. The downside of course is if the stock stays at or below 260 until Jan. 2011, then I lose all my money. I have a strategy of selling Leaps into rallies starting with the highest strike price I own or the nearest expiry date. I was selling 260 - 2010s a couple of weeks ago. Mark, that is something.... I dont think I was bidding against you - I kept trying to draw the bid down as the stock was tanking. I had another offer in at 44 that didn't get filled. Link to comment Share on other sites More sharing options...
Myth465 Posted May 14, 2009 Share Posted May 14, 2009 I like FFH at the current price but like most would love for it to go lower. The leaps also seem like a good deal. Link to comment Share on other sites More sharing options...
ubuy2wron Posted May 15, 2009 Share Posted May 15, 2009 I now have FFH as my largest holding after going to zero in the run up in Feb I guess its a case of fools seldom differing. The fact that I can buy FFH @ 80% of BV is pretty compelling. I suspect that the EXTREME relative undervaluations that FFH has suffered from in the past are going to be much more infrequent going forward. Link to comment Share on other sites More sharing options...
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