aws Posted June 29, 2022 Posted June 29, 2022 Some GEOS. Hit a new 52 week low despite booking some solid rental and sales contracts during the quarter. This stock seems to randomly drift up and down 40%+ a few times a year, so just hoping to be there for the next one up.
Gregmal Posted June 29, 2022 Posted June 29, 2022 2 minutes ago, aws said: Some GEOS. Hit a new 52 week low despite booking some solid rental and sales contracts during the quarter. This stock seems to randomly drift up and down 40%+ a few times a year, so just hoping to be there for the next one up. Agreed. I own it, but Rick Wheeler is the worst. You’re trading at a fraction of book, with cash and RE maybe covering $4-5 of the share price, and even Biden begging for more drilling now, it seems only a matter of time. This is a company easily capable of nabbing mid 8 figure contracts. One of those and the stock probably doubles. But until then Ricks negativity and lack of communication skills plus technical dynamics of sub $5 stock, sub $100m market cap…all weigh to the negative.
Spekulatius Posted June 30, 2022 Posted June 30, 2022 (edited) Bought a starter in USB (dividend stock) and added / bought back IAA this AM. Edited June 30, 2022 by Spekulatius
aesophawk Posted June 30, 2022 Posted June 30, 2022 1 hour ago, Spekulatius said: Bought a starter in USB (dividend stock) and added / bought back IAA this AM. What's your thesis for IAA? I've looked at this a couple of times, but didn't love the management. Losing GEICO was irritating.
Saluki Posted June 30, 2022 Posted June 30, 2022 I haven't sold anything, but just added some more META, GOOGL, JOE, BRK-B, and ATCO with money that was accumulating in my checking account. Nothing major, just normal periodic purchases. The world doesn't seem to make sense. I was hoovering up BRK-B, which always makes fantastic deals in a downturn, at below $200 when covid hit. Is it really only worth 25% more now, after the overhang of potential business interruption insurance etc is gone and they have a ton of cash on the balance sheet ready to deploy? ATCO has locked in long term leases and new ship build contracts that will be delivered at 30% below current new build prices and it's only 50% above march 2020 prices (when the docks shut down and everything ground to a halt and no one knew if some of these container ship companies would go under)? JOE is not selling off acres to pay it's operating costs anymore, it's firing on all cylinders. Bruce Berkowitz bought this more than then years ago in the high 20s when most of the acreage was trees for paper mills. He thought it was cheap in the high 20s then, but people don't think it's worth high 30s now? GOOGL, which has voting rights, sells for a little less than GOOG, which doesn't (efficient market?). It has the number 1 (google) and 2 (youtube) search engines. Trades at slightly above what the average SP500 has historically trades at. And the money losing moon shots are about to start paying off. Self driving cars always seemed like more hype than reality, but a competitor is now doing driverless taxis in San Francisco, Google's Waymo has been doing driverless cars in Phoenix for a couple of years now. And although no one's going to catch Amazon in cloud anytime soon, Alphabet (and Mircrosoft) are going cloud at incredible rates compared to any other business you can think of. I get that people don't like to see the numbers in their brokerage account go down, but if you know what you own, and the thesis hasn't changed, and the price is cheaper, and you have a steady paycheck coming in so that you don't need to sell anytime soon. Why aren't they buying?
DooDiligence Posted June 30, 2022 Posted June 30, 2022 24 minutes ago, Saluki said: I haven't sold anything, but just added some more META, GOOGL, JOE, BRK-B, and ATCO with money that was accumulating in my checking account. Nothing major, just normal periodic purchases. The world doesn't seem to make sense. I was hoovering up BRK-B, which always makes fantastic deals in a downturn, at below $200 when covid hit. Is it really only worth 25% more now, after the overhang of potential business interruption insurance etc is gone and they have a ton of cash on the balance sheet ready to deploy? ATCO has locked in long term leases and new ship build contracts that will be delivered at 30% below current new build prices and it's only 50% above march 2020 prices (when the docks shut down and everything ground to a halt and no one knew if some of these container ship companies would go under)? JOE is not selling off acres to pay it's operating costs anymore, it's firing on all cylinders. Bruce Berkowitz bought this more than then years ago in the high 20s when most of the acreage was trees for paper mills. He thought it was cheap in the high 20s then, but people don't think it's worth high 30s now? GOOGL, which has voting rights, sells for a little less than GOOG, which doesn't (efficient market?). It has the number 1 (google) and 2 (youtube) search engines. Trades at slightly above what the average SP500 has historically trades at. And the money losing moon shots are about to start paying off. Self driving cars always seemed like more hype than reality, but a competitor is now doing driverless taxis in San Francisco, Google's Waymo has been doing driverless cars in Phoenix for a couple of years now. And although no one's going to catch Amazon in cloud anytime soon, Alphabet (and Mircrosoft) are going cloud at incredible rates compared to any other business you can think of. I get that people don't like to see the numbers in their brokerage account go down, but if you know what you own, and the thesis hasn't changed, and the price is cheaper, and you have a steady paycheck coming in so that you don't need to sell anytime soon. Why aren't they buying? Anchored to GOOGL $2100 and waiting to add, no commissions + volatility = the era of stinker bids
Spekulatius Posted June 30, 2022 Posted June 30, 2022 (edited) 1 hour ago, aesophawk said: What's your thesis for IAA? I've looked at this a couple of times, but didn't love the management. Losing GEICO was irritating. The loss of Geico happened a while ago and is priced in. IAA is still a duopoly with CPRT, so I think it will do OK. It's available at a reasonable price now after the recent decline (Actually COVID-19) lows. I think the activist (Ancora) will put pressure on management: https://seekingalpha.com/news/3813616-iaa-gains-as-activist-holder-calls-for-sale-of-company-or-ceo-to-be-replaced Edited June 30, 2022 by Spekulatius
Viking Posted July 1, 2022 Posted July 1, 2022 Added to SU and re-established position in CVE (their refinery business should be printing money). My cash weighting is still around 55%; I sold some Fairfax to fund my move back into energy.
lnofeisone Posted July 5, 2022 Posted July 5, 2022 Added a tad to VET and CVE. Bought a slug of ABNB.
Viking Posted July 5, 2022 Posted July 5, 2022 (edited) "Greedy bastard day"... (Russell Crowe quote from A Good Year). Backed up the truck on CNQ. Stock is down almost 9% today ($CAN) and trading back where it was trading in mid January. Before $100 oil. And before Russian invasion was on anyones radar. Best managed/performing large cap oil stock in Canada the past 5 years. Always wanted to own... never traded a a price i was comfortable with (trades at a large premium to peers). Except today it is trading like a junior. Dividend yield is 4.6% and it paid its dividend throughout the covid lock down (rock solid). Edited July 5, 2022 by Viking
no_free_lunch Posted July 5, 2022 Posted July 5, 2022 (edited) SU.to, I would list my reasons but all very similar to what Viking just said. I will just add that they are buying back shares and increasing production. Perhaps not the same quality as CNQ but still solid management. Trading around a PE of 5 for the year, based on analyst estimates. Edited July 5, 2022 by no_free_lunch
Spekulatius Posted July 5, 2022 Posted July 5, 2022 Bought a bit more GOOGL for my wife’s account this AM.
Spekulatius Posted July 5, 2022 Posted July 5, 2022 (edited) With the Euro or Yen declining, and stocks there declining as well, there ought to be some great values available in Europe and Japan. In Europe, the car makers like MBG or Porsche Holding trade at what seems to me very low valuations. They will make tremendous money with their exports to the USA at current exchange rates. Another one with Airbus. I would avoid something like BASF which is heavily dependent from NG gas as an input and likely will have to switch back to crude oil as an input. However, the electric power will not be an issue and most of the NG powered plants (like dryers for automobile paint shops) can be switched to crude. The car makers can sell everything they can build for this year for sure and probably next year for premium prices. MBG stock yields almost 10% (5 Euro dividend) . Porsche Holding May spin off Porsche which covers a good deal of the EV. Edited July 5, 2022 by Spekulatius
Charlie Posted July 6, 2022 Posted July 6, 2022 (edited) I sold an underperforming fund of my parents and bought half Berkshire b shares and half Bank of America shares from the proceeds. Edited July 6, 2022 by Charlie
Agrippa07 Posted July 6, 2022 Posted July 6, 2022 from yesterday: added to Exor, Fundsmith, Intel and a little bit to Meta.
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