sampr01 Posted February 26, 2013 Share Posted February 26, 2013 Hi Sanjeev Is it BAC.. I know you love stress test results ;D Incidentally, you guys are being too hard on Moore. He's premature...that's what she said...I couldn't resist...but not necessarily wrong. When you can't find something, hold cash. When you find something, buy it. We have lots of cash because I couldn't find stuff that I could commit to and liked. But for the last three days, I've been buying alot of one stock...so there you go. Things can change in a hurry in this business...you have to be flexible. Cheers! Link to comment Share on other sites More sharing options...
Parsad Posted February 26, 2013 Share Posted February 26, 2013 Incidentally, you guys are being too hard on Moore. He's premature...that's what she said...I couldn't resist...but not necessarily wrong. When you can't find something, hold cash. When you find something, buy it. We have lots of cash because I couldn't find stuff that I could commit to and liked. But for the last three days, I've been buying alot of one stock...so there you go. Things can change in a hurry in this business...you have to be flexible. Cheers! SD? Yup! Cheers! Link to comment Share on other sites More sharing options...
wescobrk Posted February 26, 2013 Share Posted February 26, 2013 Still think we'll see tbv for BAC upon news of stress tests, Sanjeev?:) Even if we get to .90% tbv that is a 10% return from here. Link to comment Share on other sites More sharing options...
Parsad Posted February 26, 2013 Share Posted February 26, 2013 Still think we'll see tbv for BAC upon news of stress tests, Sanjeev?:) Even if we get to .90% tbv that is a 10% return from here. I can't see anything but good news for the banks after the stress tests. I think WFC will increase its dividend again and buy back even more shares. I think BAC will issue at least $7B in dividends and buybacks, while still maintaining the highest Tier 1 Common Equity under Basel III. U.S. Banks will have another record year in 2013. WFC will go over $40 this year, and BAC will go over $15. Cheers! Link to comment Share on other sites More sharing options...
Cardboard Posted February 26, 2013 Share Posted February 26, 2013 Sanjeev, What is your technique to buy stocks? If you could provide roughly how much AUM you have now would also help. Personally, I tend to buy a full position in one or two days when I like the price and that liquidity is plenty or like at SD. It is often painful to see the drop that usually comes afterwards, but like flipping a coin, it may go up as well and I will have to pay more or never getting my fill. Cardboard Link to comment Share on other sites More sharing options...
Parsad Posted February 26, 2013 Share Posted February 26, 2013 Sanjeev, What is your technique to buy stocks? If you could provide roughly how much AUM you have now would also help. Personally, I tend to buy a full position in one or two days when I like the price and that liquidity is plenty or like at SD. It is often painful to see the drop that usually comes afterwards, but like flipping a coin, it may go up as well and I will have to pay more or never getting my fill. Cardboard We're still small...$6M now. We usually build up the position over a week, and it just keeps increasing as prices fall...we love it when prices fall! We don't add unless the price falls below the last previous buy, and it's a judgement call based on my instincts. Some things are very undervalued, so we go in very hard each buy...like BAC or DELL was. Some things are undervalued, but don't keep falling to distressed levels...like AAPL...so not as hard and we are very patient. A full position is 12-15%, and if it is really, really cheap with a decent margin, we go to 25% of the fund. Nothing in the fund is anywhere near 25% right now, but we have two positions between 12-15%. We are still about 33% cash. Cheers! Link to comment Share on other sites More sharing options...
LC Posted February 26, 2013 Share Posted February 26, 2013 Sanjeev, What is your technique to buy stocks? If you could provide roughly how much AUM you have now would also help. Personally, I tend to buy a full position in one or two days when I like the price and that liquidity is plenty or like at SD. It is often painful to see the drop that usually comes afterwards, but like flipping a coin, it may go up as well and I will have to pay more or never getting my fill. Cardboard The question was directed at Sanjeev but I personally purchase a small tracking position and go from there. FYI I purchased a small tracking position in SD today as well. It's just so damn cheap...we'll have to see what the market does with it the next few days/weeks. Link to comment Share on other sites More sharing options...
Palantir Posted February 27, 2013 Share Posted February 27, 2013 So....y'all were saying what? Link to comment Share on other sites More sharing options...
nkp007 Posted February 27, 2013 Share Posted February 27, 2013 So....y'all were saying what? Bro you don't get it. Some people have psychic powers and can day trade with accuracy. You and I need to learn to listen to them. Link to comment Share on other sites More sharing options...
PlanMaestro Posted March 5, 2013 Share Posted March 5, 2013 The forecasting business is not easy. To be clear, none of the people we identify here are idiots, and we don't want to give that impression. But this epic bull market run has certainly made a lot of people look and feel like idiots. http://www.businessinsider.com/dow-jones-idiot-maker-rally-2013-3?op=1 Link to comment Share on other sites More sharing options...
nkp007 Posted March 5, 2013 Share Posted March 5, 2013 LOL at this thread. Pointless. I'm quoting myself because I still think the above. If you're going to forecast weekly / monthly stock price movements, yikes. Link to comment Share on other sites More sharing options...
LC Posted March 5, 2013 Share Posted March 5, 2013 LOL at this thread. Pointless. I'm quoting myself because I still think the above. If you're going to forecast weekly / monthly stock price movements, yikes. Buffett said it: he can't predict how the operating businesses he OWNS will do in a month, how anyone thinks they can do so for the stock market is beyond me. Link to comment Share on other sites More sharing options...
StubbleJumper Posted March 6, 2013 Share Posted March 6, 2013 LOL at this thread. Pointless. I'm quoting myself because I still think the above. If you're going to forecast weekly / monthly stock price movements, yikes. I agree 100%. I wish people would just put it back in their pants...I really don't care how big it is. Link to comment Share on other sites More sharing options...
berkshiremystery Posted March 6, 2013 Share Posted March 6, 2013 I might post just Buffett recent quote from the 2012 Annual Report.... --- Since the basic game is so favorable, Charlie and I believe it’s a terrible mistake to try to dance in and out of it based upon the turn of tarot cards, the predictions of “experts,” or the ebb and flow of business activity. The risks of being out of the game are huge compared to the risks of being in it. Link to comment Share on other sites More sharing options...
bmichaud Posted March 6, 2013 Share Posted March 6, 2013 As Becky Quick rightly pointed out to Buffett when discussing the current market, Buffett is already prepared for a market decline with copious amounts of cash on hand plus more flowing in every month. He is already hedged. Just as Moore was oddly pounding his chest after a one-day 1.8% decline, it is equally as odd that bulls would be encouraged by a mere 3% move off the 1495 bottom..... Link to comment Share on other sites More sharing options...
Palantir Posted March 6, 2013 Share Posted March 6, 2013 All the market noise I see suggests that most observers are skeptical about any rally. I don't hear many people going crazy. All I read is skepticism. So I'm skeptical this is irrational exuberance. Link to comment Share on other sites More sharing options...
bmichaud Posted March 6, 2013 Share Posted March 6, 2013 Institutional money managers being fully invested, with margin no less, is going crazy. Every time we've had a market top in the last three years, everyone has said "this is the most hated rally ever". Obviously there is something out there that ultimately drives the market down - it only makes sense that when everyone is all-in, that there are few if any buyers left..... yes the market can flop around 3 to 5% in either direction, but I don't see how those moves are material when the risk is for a 15 to 20% correction. Link to comment Share on other sites More sharing options...
PlanMaestro Posted March 6, 2013 Share Posted March 6, 2013 Straw man. As Becky Quick rightly pointed out to Buffett when discussing the current market, Buffett is already prepared for a market decline with copious amounts of cash on hand plus more flowing in every month. He is already hedged. Just as Moore was oddly pounding his chest after a one-day 1.8% decline, it is equally as odd that bulls would be encouraged by a mere 3% move off the 1495 bottom..... Link to comment Share on other sites More sharing options...
bmichaud Posted March 6, 2013 Share Posted March 6, 2013 Straw man. As Becky Quick rightly pointed out to Buffett when discussing the current market, Buffett is already prepared for a market decline with copious amounts of cash on hand plus more flowing in every month. He is already hedged. Just as Moore was oddly pounding his chest after a one-day 1.8% decline, it is equally as odd that bulls would be encouraged by a mere 3% move off the 1495 bottom..... Let me rephrase.... Just as Moore was oddly pounding his chest after a one-day 1.8% decline, it is equally as odd that some here would feel the need to roll out quotes regarding the perils of market timing after a mere 3% move off the 1495 bottom.... Link to comment Share on other sites More sharing options...
Sullivcd Posted March 7, 2013 Share Posted March 7, 2013 I find I am getting an inordinate amount of "where's the market headed" questions recently. I'm not sure what to make of it other than it being incredibly annoying. Link to comment Share on other sites More sharing options...
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