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Posted

I found another potentially interesting REIT I started a tracker position in until I have time to dig into it. Maybe some of the real estate experts would be interested. MDV originally issued shares through a crowdfunding platform and just recently did a tiny IPO, which was essentially a direct listing since they only floated 40k shares of about 7.5 million outstanding.

 

They reported their most recent NAV at a little over 27 and did the IPO at 25, but the shares went wild for a couple days and almost reached 100. I assume that was just because of the tiny IPO and day traders were just trading that small float back and forth until crowdfunders who transferred shares to the brokerages were finally able to sell. Now the price has been dropping by about 10% a day and hit 15 today.

 

The company pays a monthly dividend that amounts to 1.15 annualized, and announced a buyback of $20 million, which would be about 16% of the shares outstanding at the current price. Those numbers and a $27 NAV look enticing with the stock at 15, but the whole process seems a little fishy. I don't know how they can really operate economically at the scale they are at, and they are basically just returning crowdfunder's capital instead of rental income. But it could be interesting for a flip if it's just a supply and demand based drop. This is the first liquidity the shareholders may have had, and they are rushing for the exit and selling for half of NAV right before a big buyback starts.

Posted

Threw some money into existing positions this morning, disney, atlas, davita, fairfax, citi. bought some joe also given the good results. sold puts on berkshire and dominos. also bought Sberbank around 2.6 as a joke.

Posted

Lukoil and Gazprom, small positions. Cost of production (in rubles) is low and sales (in dollars) is high. With oil prices where they are, I can't imagine the world banning Russian oil. And with their economy collapsing, I also can't imagine Russia blocking exports, it would be suicide for them. Question is will the govt confiscate the dividends/earnings from non-Russian shareholders.

Posted

Happy to add a big chunk of Fairfax at an average price of US$475. Also added to Western Forest Products at open. Too slow to pick up Atlas or other forestry stocks. 

Posted

Picked up some FB under $200, was looking at some other names early, left the PC and was surprised to see the rally when I looked again toward close, didn’t expect that. Not saying that it will be sustained but man, continually hoping that this is the start of a sustained buying opportunity and it never lasts. 

Posted
19 hours ago, Mephistopheles said:

Lukoil and Gazprom, small positions. Cost of production (in rubles) is low and sales (in dollars) is high. With oil prices where they are, I can't imagine the world banning Russian oil. And with their economy collapsing, I also can't imagine Russia blocking exports, it would be suicide for them. Question is will the govt confiscate the dividends/earnings from non-Russian shareholders.

yes...the question you ponder at the end is sorta the point. I do not see how folks can invest and talk of "cheap" and valuation etc when these paradigms are not US/SEC/shareholder value oriented contexts at all

Posted

Been overweighting available allocations to energy since reading much about the sector being smallest ever in market cap three or so years ago.  I think an energy super-cycle is underway but not yet recognized by too many.

Posted
3 hours ago, fareastwarriors said:

Picked up some BRK.B yesterday 

I wish I had. I sold puts when BRK dipped below 300, but the better move would have been to also go long. 

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