What are you buying today?

[PJM]

ATCO as an arb trade

[aesophawk]

MSGS. Suns are getting sold. Forbes valuation was 1.8 billion in Oct 2021. Media thinks they go for 2. I wouldn't be surprised if it goes higher. 

[Gregmal]

MSGS and Berkshire. Sold some more October IWM puts and swapped into far OTM VIX calls. Feeling like folks are nearing capitulation. 

[fareastwarriors]

Clpr 

[Castanza]

ATCO....Seems like there is a free $1.50 on the table right? 

[GordonGekko69]

Added a bit to NU and PCYO and made PAH3 a full position for me

[bizaro86]

Stelco to tender. The tender is open for like 50% of the firm and the spread is ~2%. Seems obvious for any available registered/retirement funds (tax considerations aren't great for non-reg)

[E. Nashton]

1 hour ago, Castanza said:

ATCO....Seems like there is a free $1.50 on the table right? 

right? what am I missing here? *

 

*a bit rhetorical - as it's obvious the market thinks there's a fair chance the offer gets rejected. 

Edited September 27, 2022 by Dean

[bizaro86]

Not to take this thread too far off topic, but the downside on Atco if the non-firm deal gets pulled is probably pretty significant at this point. Given the change in markets since the deal was announced it probably drops further than the pre-deal price. I think this is the last bump, and Atco shareholders should probably take it and re-invest. 

[Castanza]

56 minutes ago, bizaro86 said:

Not to take this thread too far off topic, but the downside on Atco if the non-firm deal gets pulled is probably pretty significant at this point. Given the change in markets since the deal was announced it probably drops further than the pre-deal price. I think this is the last bump, and Atco shareholders should probably take it and re-invest. 

 

Yeah that's certainly a possibility and was my thought when I first sold the shares. Time will tell, but either way If you have a 5+ year time horizon buying now at 14 is not a bad price. 

[ourkid8]

More BAM 

[Libs]

IPCO at 3 X FCF

[jfan]

META, ICE and FNV

 

The banking industry looks quite cheap with all this chatter about recession risk even if earnings decline. Am I missing something here?

Edited September 27, 2022 by jfan

[StubbleJumper]

Resolute Forest Products.  The price has dipped to US$20 today and it is virtually certain to be bought out at US$20.50 + CVR, likely in late-March or early-April.  So, the 50-cent cash spread basically covers the carry for 6 months, and the CVR are a "free" lottery ticket.

 

 

SJ

[Gregmal]

Berkshire, Fairfax, St Joe 

[Red Lion]

I added to BX at below $85. Been planning to hold off until the BAM spinoff to add to the asset manager, but thinking about adding a big slug near $40. Right now all the alts are looking good, even the ones that are usually too expensive to look at (e.g. BX, ARES, OWL)

Edited September 29, 2022 by RedLion

[Red Lion]

Big add to BAM, first add in a couple years on this position, but ended up increasing my total position size by ~30%. I ended up buying at $40.84. 

 

Also added APO call options at $42 expiring Jan 23. This pretty much doubles my notional exposure including some $47.50 call options I already have, depending on how the stock does over the next few months I may try to sell my APO shares for a short term loss but still be able to exercise the options at $42 before they expire and keep roughly the same exposure. Obviously I'm opening myself to losing even more money if the stock keeps going down hard with the market in the short term, so maybe this was a stupid idea, but I have a lot of short term gains from hedging, and I want to harvest some of these APO short term losses, but still remain bullish. 

Edited September 29, 2022 by RedLion

[maxthetrade]

Sold some Jan 24 $65 KMX puts, really juicy premium.

[Gregmal]

Chucked more money into the fire on MSGE 44.70. 

[Cod Liver Oil]

I sold atm December MSGE puts. I bought:

Edited September 29, 2022 by Cod Liver Oil

[Gregmal]

14 minutes ago, Cod Liver Oil said:

Sold atm December msge puts:

LOL yea I was gonna buy more but then decided if I’m throwing it in the toilet to at least redirect some to the Red Cross for hurricane relief where it’ll actually doing something positive. 

[Red Lion]

I started a new position in ARES right before the close at $62.47. I ended up deploying a lot of capital today at least for the size of my portfolio. 

[Rustycage]

Added to msge and dbrg because I like lighting $ on fire

[fareastwarriors]

4 hours ago, Rustycage said:

Added to msge and dbrg because I like lighting $ on fire

 

 

[KPO]

ALCO at the end of trading. I suspect I’ll be buying more in the coming days. That said, with the fed draining the liquidity pond through the acceleration of bond sales to reverse quantitative easing, I suspect there will be a lot of interesting options over the next month or two. Either way, land rarely loses value over multi year periods, so even if they lose a significant amount of this year’s orange crop there is sustaining land value at the current quote. 

Edited September 30, 2022 by KPO