What are you buying today?

[Castanza]

Got some CMCSA under $46

[Lance]

XOM

 

Thanks

Lance

[lnofeisone]

MPLX and WMB

[Agrippa07]

Added to XOM

[Spekulatius]

Over the past two days I trimmed IAU and bought IRM, MAC, MCY, ORI, TCO and WPC then sold TCO on a small increase.

 

Thanks

Lance

 

So with WPC, ORI and MCY, you are bullish on property insurers? ORI looks interesting based on valuation metrics. I have owned MCY before ( a long time ago) when it traded at book value. I used to have my car and property insurance with them when I lived in CA.

 

Added to my small starter holding on today’s Mr. markets hissy fit after the earnings release at $22 and below. Anyone know what this drop as about? I looked at the earnings numbers and they seemed fine to me. Anyways, it’s a relatively cheap stock and a decent business in today’s overpriced market. Book value is $20, so I buy this for 1.1x book. I have seen cheaper,  but also way more expensive. I used to follow the company, but it dropped of my radar after it took many years to work through the aftermath of the financial crisis.

[TwoCitiesCapital]

XOM

 

Thanks

Lance

 

Added to XOM

 

Over the last week, have been rolling out of 10% or so I've my Gazprom position to buy XOM with the proceeds.

 

Plan to continue to do so if OGZPY continues to significantly outperform.

[jgyetzer]

CMCSA

 

I am probably being overconfident, but the market seems to keep offering favorable opportunities to buy broadband providers based upon performance of other, lower margin segments (i.e. video)

[Castanza]

Starter position PBCT

[boilermaker75]

Been writing GILD puts, would like to acquire some with a basis < $63.

[Lance]

Wrote puts on GEO.

 

Thanks

Lance

[Guest eatliftinvestgolf]

Added to my WFC position.

[Lance]

DD, TCO and WMB

 

Thanks

Lance

[Gregmal]

bought back some msgn

[Guest cherzeca]

AMC, BCS, AGN

 

I was looking at AMC $5 call 1/21/22 last price $2.  seems awfully cheap but cant pull trigger.  earnings CC end of February

[boilermaker75]

Been writing GILD puts, would like to acquire some with a basis < $63.

 

Wrote some more 63-strike, Jan 31 expiration puts for $0.60 per share.

[no_free_lunch]

bought back some msgn

 

I have to admit, it is looking very cheap at these levels.  Something like 5-6x fcf if I remember the numbers correctly.  Do you have any insight into what has sparked the selloff?

[KJP]

bought back some msgn

 

I have to admit, it is looking very cheap at these levels.  Something like 5-6x fcf if I remember the numbers correctly.  Do you have any insight into what has sparked the selloff?

 

Look at MSGN sub losses over the last few quarters and look at, for example, Comcast's recent commentary on its expected video sub losses in 2020.  Then look at how MSGN earns revenue versus how it pays MSG for rights and see how MSGN would be squeezed in the event continuing sub losses overwhelm the per-sub price escalators built into its contracts with video providers.  You can see a scenario in which FCF isn't what it used to be.  Of course, there are also potential upside scenarios as well.

[Gregmal]

Basically, theres a huge concentration of subs with Comcast and Altice/Optimum. Both of which have potential renewal issues.

 

Much has been discussed on the MSGN thread previously, and now on top of that, you have the fact that the company was just willing to repurchase 25% of the shares at 16.75 and still have a sizable buyback in place, plus the resources to do much more.

 

My investment confidence however still doesnt really involve sub counts or decline rates, although admittedly, that will drive this thing short term. But on an absolutely basis, the rights to televise Knicks and Ranger games is worth something, and theres no way its worth less than what the Cincinnati Reds or whomever else are worth. To someone like Amazon the acquisition is a rounding error but could be reasonably impactful to certain of their own ventures. Or, it can be reacquired by the MSG stub which is was spun out from. A lot of ways to win. In the meantime all the FCF will go toward repurchases and debt reduction.

[cknucks]

BRK.B...have to be nearing 1.3x on Q4 book value once that gets reported.

[Gregmal]

Did some repositioning.

 

Finished exiting GM stock and transferred into slightly larger share equivalent $30 calls. Closed my GM puts as well. Its either gonna go or its not. My stop loss built in with the strike, and after about a half decade, if it doesnt perk up Im fine having been wrong and calling it a day here.

 

Exited 30% of BX and replaced it with BRK.B and SPG.

 

Reduced some margin in the process.

 

 

[Cardboard]

Bought more SPY puts. After 2 days following my initial trade I am pretty convinced that the game is over ala 2000 in 2020.

[Guest cherzeca]

Bought more SPY puts. After 2 days following my initial trade I am pretty convinced that the game is over ala 2000 in 2020.

 

aren't these puts expensive?  can you be a value investor paying a premium for safety?

[Guest]

Bought more SPY puts. After 2 days following my initial trade I am pretty convinced that the game is over ala 2000 in 2020.

 

Predicting a 50% drop on S&P 500 and 80% drop on Nasdaq? ???

[LC]

I think more likely is a stagnant or slowly declining market, I've been selling calls.

[boilermaker75]

I think more likely is a stagnant or slowly declining market, I've been selling calls.

 

LC,

 

Are these covered calls?

 

Also if you don't mind saying, on what stocks?

 

Thanks,

 

Boiler