What are you buying today?

[throw123]

brkb

[fareastwarriors]

$CLPR in the $7.50s

[Gregmal]

17 minutes ago, fareastwarriors said:

$CLPR in the $7.50s

Is that a typo? Been out with the kids today but how TF did that happen?

[Mephistopheles]

1 hour ago, fareastwarriors said:

$CLPR in the $7.50s

lucky! I wonder why it dropped so much so briefly

[Mephistopheles]

1 hour ago, Gregmal said:

Is that a typo? Been out with the kids today but how TF did that happen?

I thought the same but it was down there for a few min right at the open 

[fareastwarriors]

7 hours ago, Mephistopheles said:

lucky! I wonder why it dropped so much so briefly

No idea what happened but not complaining!

 

I had a bunch of limit orders in the 7s.    Small orders though

Edited September 1, 2022 by fareastwarriors

[Gregmal]

Added some Fairfax 

[lessthaniv]

Me too

[Viking]

Me three (FFH)

[Spekulatius]

Starter in EXOR today. Also started / added to $COF.

[Red Lion]

Added a SPY put debit spread expiring September 14 for 375/370 at a cost of $0.75. Just closed out my $420/$410 debit spread for $9.95 which I put on for $1.80. 

[Cod Liver Oil]

Bought back some UMG.

[maxthetrade]

Added to FFH, bought KMX and wrote some BRK puts.

[KPO]

MSGE & FRFHF

[Gregmal]

Added another 10% to JOE and VRE positions as well.

[ourkid8]

Added to my positions in FFH, BAM and C.  

[thepupil]

I bought $7,000 of March 2023 calls on ZROZ which trades at $102 ($105 call for $7). this basically gives me the upside (but not the first ~10% move) on $100K of long term zero coupon tsy bonds which have duration of about 27, so it gives me (in a big move down in LT rates) about as much duration as owning $350-$400K of the bond index (though index more diversified across curve). they'll probably expire worthless in which case, I'll lose $4000-$7000 after tax. I will continue to buy these as long rates blow out as i think they provide some upside participation on inflation normalization, as well as depression / deflation hedge (though if that happens, won't make enough to matter). starting small. doubt i have the chance to get big because I'm not in the "6% tsy's" camp. 

 

[Benderok]

Added to MSGE

[matthew2129]

JOE and MSGE adds

[FCharlie]

St Joe. 

 

Decent volume at prices below their Q2 buyback price of $37.83. 

[Gregmal]

Woo-hoo also just saw I got filled earlier today on a few hundred more aiv 7.5s

[JGBRK]

Bought more BRK.B earlier today.

[KPO]

PCYO at the close. Small caps are disproportionately on the receiving end of the market decline, as usual. I suspect the Fed’s balance sheet reduction is the main driver of the water lowering for all assets. Should be interesting to see how long this goes on. 

[changegonnacome]

22 hours ago, Spekulatius said:

Also started / added to $COF.

 

Like this one - interest rate sensitive but with monthly escalators.....so not taking duration risk like a lot of financial institutions who are borrowing short (deposits/bonds) & lending long on fixed rate products that could destroy NIM's over time. Yes - i like this one very much! & at 5-6 times earnings.

 

https://www.bloomberg.com/news/articles/2022-09-02/higher-credit-card-bills-average-interest-rate-apr-is-highest-since-1996?sref=7zqHEcxJ 

Edited September 2, 2022 by changegonnacome

[Spekulatius]

1 hour ago, changegonnacome said:

 

Like this one - interest rate sensitive but with monthly escalators.....so not taking duration risk like a lot of financial institutions who are borrowing short (deposits/bonds) & lending long on fixed rate products that could destroy NIM's over time. Yes - i like this one very much! & at 5-6 times earnings.

 

https://www.bloomberg.com/news/articles/2022-09-02/higher-credit-card-bills-average-interest-rate-apr-is-highest-since-1996?sref=7zqHEcxJ 

What really got my attention is how much stock they are buying back. Share count is down from ~460M shares at the end of 2020 to ~390M now. They are buying back shares at an almost~ 20M/quarter clip.

 

Do this at a 20% earnings yield for some time and good things start to happen. FWIW, COF is overearning a bit due to lower than baseline provisions. normalized earnings (assuming normalized provisions) are probably closer to $15/share, give or take. But with this buyback clip, this number will be going up, because the # of shares is going down very quickly.

 

Edited September 2, 2022 by Spekulatius