clutch Posted September 1, 2020 Posted September 1, 2020 Looks like a lot of people here are buying today albeit no significant drops across the market... are you guys having a change in your thoughts on the general market?
Saluki Posted September 1, 2020 Posted September 1, 2020 Looks like a lot of people here are buying today albeit no significant drops across the market... are you guys having a change in your thoughts on the general market? I think "the market" is overpriced but that doesn't mean everything is. Everything oil related is dirt cheap right now and some stuff that I consider pretty safe (KMI, PSX, PBF) I have added to in recent days. Oil and product tankers are super cheap too now but if I kept buying my position would take me past my "good night's sleep" point. I'm trying to walk out of the burning building with the most valuable stuff that I can carry before the whole thing comes down.
thepupil Posted September 1, 2020 Posted September 1, 2020 I'm trying to walk out of the burning building with the most valuable stuff that I can carry before the whole thing comes down. I, on the other hand, stay in the burning building and muse as to what the right value per foot is, while it gets hotter and hotter.
Spekulatius Posted September 1, 2020 Posted September 1, 2020 SAP.TO, BCE.TO, SU.TO I know you brought up SAP.TO (Saputo) and it looks interesting, as it is currently valued at a discount to its longer term metrics (EV/EBITDA, EV/ SALES). Looks like a GAARP stock which are hard to find nowadays. Is there any catalyst you can see near term? Looks like the shares have been hit hard by COVID-19 although the business seems to chug along quite well.
Gregmal Posted September 1, 2020 Posted September 1, 2020 I'm not really buying as much as shifting or repositioning/recycling capital. Ive probably been a net seller/cash builder the past month.
Jurgis Posted September 2, 2020 Posted September 2, 2020 XONE Borrowed from Catherine Wood (ARK owns 20%) It might work out, but looking at financials, they haven't grown for last 5 years pretty much. Unless you know the area well, the counterargument is that it's not attractive for growth/momo crowd and the valuation differential will persist. (Growth/momo crowd is not completely stupid. They don't necessarily invest in companies that don't grow.)
Gregmal Posted September 3, 2020 Posted September 3, 2020 November IWM and QQQ puts It was the only thing I had on my list of things to do today. Sadly a day late. Congrats on the timing. Thanks. Sold most of these today and rolled a portion down the chain, same November expiration. Also added to AAPL puts.
Spekulatius Posted September 4, 2020 Posted September 4, 2020 Added to CVS and a tiny starter in HII.
redskin Posted September 4, 2020 Posted September 4, 2020 I'm having a tough time finding anything cheaper and safer than WFC..
Cardboard Posted September 4, 2020 Posted September 4, 2020 WFC should definitely be on top decile of most attractive list.
Gregmal Posted September 4, 2020 Posted September 4, 2020 November IWM and QQQ puts It was the only thing I had on my list of things to do today. Sadly a day late. Congrats on the timing. Thanks. Sold most of these today and rolled a portion down the chain, same November expiration. Also added to AAPL puts. Sold the AAPL puts and rolled a portion into closer dated Sept 25s, lightened up on the index puts as well. Bought some BIDU
LC Posted September 4, 2020 Posted September 4, 2020 Indicating you think the sell down is temporary? I am still holding my substantial Visa and Brk LEAPs, but trimmed about 50% of my "Tech" holdings yesterday (Google, MSFT, etc) along with some minor sales (let's call it "pruning") of other stuff. Sadly the main tech stock we own - a 15% position (Will remain nameless) was in a blackout period so I could not sell that. ;D
Gregmal Posted September 4, 2020 Posted September 4, 2020 Indicating you think the sell down is temporary? I am still holding my substantial Visa and Brk LEAPs, but trimmed about 50% of my "Tech" holdings yesterday (Google, MSFT, etc) along with some minor sales (let's call it "pruning") of other stuff. Sadly the main tech stock we own - a 15% position (Will remain nameless) was in a blackout period so I could not sell that. ;D The timing was fortunate and given how things have played out, I wouldn't be shocked to see things keep heading lower but with the very quick and outsized move I've always found it prudent to rebalance so that when things do settle you arent giving back your gains. For instance the QQQ puts went from 5 to about 12 in a couple days. VIX calls from $3.xx to 9. So take off excess, chuck it into "core" non speculative portion of portfolio, and work the rest to maximize leverage. VIX especially can cause profits to vaporize quickly. 35+ has historically not lasted long. The AAPL as well as most momo has shown a crack. So I think it makes sense that the sell off would play out sooner than later, if indeed its going to be one of those bottom falls out moments.
bizaro86 Posted September 4, 2020 Posted September 4, 2020 Switched my BRK call leaps (deep ITM) back to shares.
Lance Posted September 4, 2020 Posted September 4, 2020 This week. Adds: CSCO, DVYE and T New positions: FNV, TPL, WPM and two Matthews China funds Sales: PEP Options: sold HL calls Thanks Lance
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