moore_capital54 Posted February 1, 2012 Posted February 1, 2012 Well its been nearly 2 months since the majority of this board felt the world was going to hell and a hand basket. We are printing money here at XXXX XXX Capital, LLC (Almost slipped and told ya :) up nearly 22% in the value funds and 7% in our resource funds. Some investors that are definitely doing well are probably Ericopoloy, and Parsad who were as bullish as I was all through the August-December period. I can't imagine Bmichaud or Munger are doing that great... Would love to hear and see how some have positioned themselves. Were still totally long, not taking a cent off the table.
racemize Posted February 1, 2012 Posted February 1, 2012 15.4% here and pretty much all in. I was over 20% last week, but the investors and article writers in my main stock have been going full retard for the last week--they may be over it now. didn't notice the Nov/Oct, the above is YTD. Over 2 months, it is probably a lot better.
PlanMaestro Posted February 1, 2012 Posted February 1, 2012 Me, Me! 28% Tarp Warrants 72% Special Situations 0% Cash 0% Shorts
ERICOPOLY Posted February 1, 2012 Posted February 1, 2012 One thing I have learned: If a stock goes from $14 down to $5, and then back up to $7, it is "overbought". Then someone who rhymes with "ass" shorts it. We'll see how he does.
zarley Posted February 1, 2012 Posted February 1, 2012 Not sure about my 2+ month returns, but I'm up ~10% for January. Going back to Oct/Nov my gain is probably mid teens. Trading SHLD, and owning MSFT and WDC have been the most profitable.
Valuebo Posted February 1, 2012 Posted February 1, 2012 24-25% since January, 33% since my start in 2011. Zero leverage, although not buying TARP warrants at the lows was my biggest opportunity mistake. I still believe it is very likely that the B warrants on BAC will prove to be a very lucrative investment. I have 25-35% profits on things like LUK, C and BAC (and of course a lot more when looking at my lowest buying point) where Munger basically said he wasn't going to touch them with a ten-foot pole. Uncertainty is beautiful. Not willing to sell anything just yet. Would need to see substantial gains in my financials from current levels to take some profit there. I'm 22 moore, so not all 'youngsters' are doing poor and timing the market. ;)
merkhet Posted February 1, 2012 Posted February 1, 2012 Somewhere between 14% and 15% for me. Roughly 10% cash -- 20% cash if you count Fairfax as closet cash, as I do. I actually find it odd that my cash/"cash" percentage is so high...
Parsad Posted February 1, 2012 Posted February 1, 2012 Well its been nearly 2 months since the majority of this board felt the world was going to hell and a hand basket. We are printing money here at XXXX XXX Capital, LLC (Almost slipped and told ya :) up nearly 22% in the value funds and 7% in our resource funds. Some investors that are definitely doing well are probably Ericopoloy, and Parsad who were as bullish as I was all through the August-December period. I can't imagine Bmichaud or Munger are doing that great... Would love to hear and see how some have positioned themselves. Were still totally long, not taking a cent off the table. We still had a chunk of cash, but all the positions we took are up about 18-20%+ since the middle of December. Our financial equity positions have made up for more than the losses on the original warrants we bought earlier in the year. OSTK is the only thing still keeping us from going above our high watermark from June. Hopefully, they've been working on turning around revenues and that changes after the 4th Q and 1st Q reports come out. We have alot of cash from ideas that weren't long-term positions and went up alot. Also, we sold our Winn-Dixie position when it was bought out. I think things will get very choppy again through the year and we have plenty of liquidity. Have not and will not sell a single share in BAC or WFC. Cheers!
onyx1 Posted February 1, 2012 Posted February 1, 2012 Grats to all longs. Went 98% long in August. +31% since Oct 1, and +16% ytd. Helped by good moves in MSFT 17.5 LEAPS, BAC, WFC, WRB, BRK, and a handful of special situations some of which are working out very, very well. I'm enjoying the moment, but not too much as market emotions can change in a day.
txlaw Posted February 1, 2012 Posted February 1, 2012 Up about 30% YTD. But I was also down about 18% last year, so I am only up about 7% from beginning of 2011. But the beauty of my portfolio is that it is still substantially undervalued.
enoch01 Posted February 1, 2012 Posted February 1, 2012 Flat in January after being up 11% in 2011. The loss from DIMEQ has been compensated by gains elsewhere. LEAPS on MSFT, BAC are growing to large positions. 10% cash.
racemize Posted February 1, 2012 Posted February 1, 2012 I'm enjoying the moment, but not too much as market emotions can change in a day. agreed, whenever I start doing really well, I feel nervous. I almost feel better when everything is down, for some reason (maybe just so I can buy more, but it seems more than that).
Rabbitisrich Posted February 1, 2012 Posted February 1, 2012 Well its been nearly 2 months since the majority of this board felt the world was going to hell and a hand basket. We are printing money here at XXXX XXX Capital, LLC (Almost slipped and told ya :) up nearly 22% in the value funds and 7% in our resource funds. Some investors that are definitely doing well are probably Ericopoloy, and Parsad who were as bullish as I was all through the August-December period. I can't imagine Bmichaud or Munger are doing that great... Would love to hear and see how some have positioned themselves. Were still totally long, not taking a cent off the table. We still had a chunk of cash, but all the positions we took are up about 18-20%+ since the middle of December. Our financial equity positions have made up for more than the losses on the original warrants we bought earlier in the year. OSTK is the only thing still keeping us from going above our high watermark from June. Hopefully, they've been working on turning around revenues and that changes after the 4th Q and 1st Q reports come out. We have alot of cash from ideas that weren't long-term positions and went up alot. Also, we sold our Winn-Dixie position when it was bought out. I think things will get very choppy again through the year and we have plenty of liquidity. Have not and will not sell a single share in BAC or WFC. Cheers! Agreed on the banks, particularly WFC. The market isn't pricing in the gradual normalization of the payout ratio. Also, NIM contraction is dominating the conversation without actually looking at the difference in volatility between NIMs and ROEs.
Guest Posted February 1, 2012 Posted February 1, 2012 moore, It's great that you're doing well this year. A lot of great investors didn't do well last year. Would you be kind enough to share your results from last year too? Thanks man!
Rabbitisrich Posted February 1, 2012 Posted February 1, 2012 As a cautionary note, I recall the board being rather aggressive during the downturn as demonstrated by the "What Did Everyone Buy Today" thread. Much of the outperformance YTD has to do with averaging down during the panic period, rather than "proving" correct about macro uncertainties.
original mungerville Posted February 1, 2012 Posted February 1, 2012 Was up 55% or so last year at the peak, lost most of that in December to finish up only 10% last year. So far this year, am up 2% in January it seems. But if we are doing a 2 month tally, I am down something like 20% over the last two months. (If the market goes down from here, I do not think I can lose much. If the market continues onward here, even a bit, looks like I'll start making some real money. If the market drops a lot, I should also make real money. Looking forward to what the next two months bring) Unless things backfire, longs should be helped by Bernanke who seemed to indicate pretty clearly he was going to print - should begin in the April to June timeframe. I still have big bets on silver, related equities and Berkshire and remain short the Russell 2000. Good luck to everyone.
PlanMaestro Posted February 1, 2012 Posted February 1, 2012 As a cautionary note, I recall the board being rather aggressive during the downturn as demonstrated by the "What Did Everyone Buy Today" thread. Much of the outperformance YTD has to do with averaging down during the panic period, rather than "proving" correct about macro uncertainties. Rabbitisrich, check BAC results. With those capital ratios I do not care about macro.
zippy1 Posted February 1, 2012 Posted February 1, 2012 I recall that last time we had a topic like this, we got hit with a major downturn. So I am double checking my thesis on my holdings.....
original mungerville Posted February 1, 2012 Posted February 1, 2012 Moore, let us just be clear: the market is up because the European Central Bank and Federal reserve are printing money. This is definitely not an indication that the world is not going to Hell in a hand basket. It is, its just going to be a different basket relative to the one it would have taken to Hell had they not printed.
Uccmal Posted February 1, 2012 Posted February 1, 2012 As a cautionary note, I recall the board being rather aggressive during the downturn as demonstrated by the "What Did Everyone Buy Today" thread. Much of the outperformance YTD has to do with averaging down during the panic period, rather than "proving" correct about macro uncertainties. Rabbitisrich, check BAC results. With those capital ratios I do not care about macro. Yes indeed. I added some more 2014 $10 leaps yesterday. This position will be my all time gain if it goes back to where Fairholme bought at 15. Nothing wrong with averaging down when it works out although buying yesterday more resembled averaging up, perhaps. Around 20 %ytd which brings my Jan 2011 to today losses into the 23-25% range.
Green King Posted February 1, 2012 Posted February 1, 2012 Up 15% at end of last year. Up 5% currently ytd. Why ask such short term questions? i thought we are value investors.
Ballinvarosig Investors Posted February 1, 2012 Posted February 1, 2012 Was lucky enough to have bought BAC close to their lows, RLI and PRA have also walloped it out of the park. Other positions have gone with the market. Still holding a decent cash position and dipped into it to buy TSCO. Don't think the market is cheap, but it is an election year, the Fed balance sheet is soaring and liquidity is being pumped into the system both in America and abroad, so only a fool would take a position against national governments. http://www.ritholtz.com/blog/2012/01/living-in-a-qe-world/ - article is well worth reading http://www.ritholtz.com/blog/wp-content/uploads/2012/01/balu1.gif I await the torrent of abuse from those that say macro doesn't matter, and that "I only buy cheap stocks" 8)
moore_capital54 Posted February 1, 2012 Author Posted February 1, 2012 Moore, let us just be clear: the market is up because the European Central Bank and Federal reserve are printing money. This is definitely not an indication that the world is not going to Hell in a hand basket. It is, its just going to be a different basket relative to the one it would have taken to Hell had they not printed. I completely disagree with the logic of this response. Our job as value investors is to seek value irregardless of the macro environment. Some of us like myself, may or may not have an macro edge with our understanding of the monetary system. With that said, the purpose of this thread was to gauge which investors disregarded the macro drama to find some incredible bargains, as we did here in Toronto. To use hindsight and tell me why the market is up helps us learn little about your investing skills. Cheers!
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