What are you buying today?

[changegonnacome]

HSW

[Red Lion]

Started a new position in Fairfax today at $458. 

[Spekulatius]

Buying a bit more CMCSA here. Painful.

[changegonnacome]

HSW

[fareastwarriors]

On 10/10/2022 at 11:03 AM, CorpRaider said:

I mean, they have residual value as conversion to office space plays if nothing else.  haha!  SLG

 ouch

 

 

[DooDiligence]

1 hour ago, Spekulatius said:

Buying a bit more CMCSA here. Painful.

 

I like this one for the long haul when paired up with my Disney holding. In my imagination, if Disney has to pony up for the rest of the Hulu stake, I still win.

Edited October 12, 2022 by DooDiligence

[Castanza]

SMH (still not comfortable INTC), BRKb, GOOG

[Gregmal]

Little more Fairfax and few VIX 40 weeklies as insurance. Armageddon tomorrow!

[Gregmal]

Oh yea also decided to test drive TSLS lol. See if it has autopilot mode 

[CorpRaider]

I bought some EBAY, GOOGL, AMZN, SMG, LAMR, and CMCSA yesterday; just little retail DCA-ing.  

Edited October 12, 2022 by CorpRaider

[Viking]

Put about 15% of my portfolio the last couple of days into what i loosely call ‘Canadian bond substitutes’. Most stocks are trading near 5 year lows (lower band of trading range). The average yield on the portfolio of holdings is around 5.5%. 
- Canadian banks: RY, BNS, TD, CIBC (regulated oligopoly)

- Canadian telco’s: Telus, BCE, Rogers (regulated oligopoly)

- Pipelines: ENB, TRP

- Life Insurance: SLF, GWO

- Utilities: AQN

i have weighted the holdings based on companies i like more. For banks, RY is my biggest weighting. For Telco’s i have Telus as my biggest weighting. I decided to do a basket approach to get exposure to each of the sectors. 

 

i will be adding a few more names. For Canadians on the board what companies am i missing? I am after companies with +4% dividend with reasonable prospect it will grow in future years. 
—————

i also own BAC, JPM, C (US financials) and CNQ, SU (energy). There are a very large universe of companies out there who pay very large dividends and have solid prospects to grow earnings (as we get through the current snow storm). It reminds me a little of 1995-2005 before and after the dot com bust. Old economy stuff was dirt cheap. 

Edited October 12, 2022 by Viking

[E. Nashton]

@Viking I've taken a similar approach. A bit boring and may actually underperform if we rocket from a bottom but should do reasonably well as a sleep easy portfolio. One name I have been adding you didn't mention was FORTIS. Thoughts on that ? It's in a yield range traditionally that does well as a signal to long term buy. We can expect YOY div increases as well.

[Viking]

2 hours ago, Dean said:

@Viking I've taken a similar approach. A bit boring and may actually underperform if we rocket from a bottom but should do reasonably well as a sleep easy portfolio. One name I have been adding you didn't mention was FORTIS. Thoughts on that ? It's in a yield range traditionally that does well as a signal to long term buy. We can expect YOY div increases as well.

@Dean Fortis is on my watch list… i will likely add it to my collection if it sells off another 10% from here. In the past month 4% bond yields look like they are causing a sell off in the ‘utility type’ (higher dividend yield) part of the stock market. Makes sense. But what i have learned over the years is what looks obvious to me can take weeks or months to actually play out in financial markets (markets are reasonably efficient but it can take big funds a considerable amount of time to reconfigure their portfolios). If bond yields continue higher i expect my basket of stocks listed above to also sell off. So i am keeping my weighting such that i can add on weakness. 
—————

In terms or portfolio strategy, we sold our house last year (big tax free gain). And i had my best year ever return wise with my portfolio (thank you Fairfax). So my portfolio is about 3 times the size it was 18 months ago. As a result, i have decided my old way of investing no longer fits my current life situation. Bottom line i have decided to keep 1/3 of my portfolio and invest as per usual (perhaps concentrate with stocks like Fairfax etc). And take the other 2/3 of what i have and create my own ETF (collection of stocks). Most have been purchased over the past week. I am about 1/2 done and will continue adding to current positions on weakness and starting new positions that make sense. So much stuff is on sale. And i may get lucky and we might see one more big swoosh down (who knows).

1.) Bond substitute (listed above)

2.) Energy: CNQ, SU, CVE

2.) Tech: GOOG, AMZN, MSFT, META, SOXX

3.) US Financials: BAC, JPM, C, BAM
4.) Misc: NKE, LEVI, DIS, UPS, FIH

—————

I did something similar in March 2020 but sold when they popped and then watched them scream higher.  @dealraker ‘s posts on the ‘is the bottom here?’ thread have certainly resonated with me  And my life situation is also quite different now (all of my financial assets are now ‘paper’). 

Edited October 12, 2022 by Viking

[Jaygo]

Atz.to prior to great earnings today for the taxable
 

HDV high Div in the us for my rrsp

and LEI etf in Canada for monthly dividends in the tfsa. 
 

if we get another 9 to 18 months of downward pressure I want to average in about 15000 per quarter roughly. Today felt good but am prepared to buy anything I bought today considerably lower. My bias is Canadian so if we have a housing crash up here all bets are off. 

[Monsieur_dee]

38 minutes ago, Viking said:

@Dean

  VRE Canadian real estate etf? Or any other Canadian low cost etf? 

[Spooky]

VRE seems very cheap ... I've been slowly adding some in my TFSA. P/E of 6.8x and P/B of 1x according to Vanguard.

[dipod]

Long TSLA 12/16 $100 put options.

[Viking]

BAM, GOOG, AMZN

[Luke]

New Position in ASML

[ourkid8]

More BAM

[dealraker]

I know my timeframe and price divergence tolerances are both far larger than most, one thing that seems to come often as to BAM is that Bruce Flatt gives shareholders his view of the per share stock value.  Often the stock is selling at the time he gives these talks for far less than his figure - only to then fall signficantly to 50% of his figures.

 

I've owned Brookfield, the old Brascan, nearly 30 years now and it certainly has been something I've enjoyed.  Not yet though do I have a lot of trust in Bruce Flatt, I find him and the actions/words of management at times very annoying and at times plain unprofessional.

 

I get a lot of "hell buddy, sell the stock if you feel that way" replies when I write this sort of thing.  Problem is I have the same view of many of my stocks...lord help my opinon of some of Norfolk Southern's managment decisions is as low as it goes.  I don't sell stocks, I enjoy business amongst the agitation.  Participating in life, rather than cowering in fear, does keep you thriving in some ways.

 

The one business, by far my largest holding, I don't get annoyed with is AJ Gallagher.  We merged with them nearly 30 years ago now and the outcome has been...let's say...phenomenal.  My local compeitior who was beating our butts still owns and runs his brokerage.  He has literally thrived for these last 30 years since I bailed.  But we merger bunch have done far better than him financially.  I'm not the brightest but I'm smart enough in some businesses to know who the smart people are...and it wasn't me!

 

First thing this morning, not quite early enough, I held my nose...

...and bought a tad more BAM!  AHHHHHHHH!!!   My wife says, "You HATE those guys!"  LOL.  

 

But AJ only sells cheap for short periods and those seem to never come any longer.   Oh my though, what a great business for inflation.

 

 

 

[dealraker]

Speaking of buying stocks, I believe in diversification myself.  No Buffett/Munger here.  Why diversify?

 

I grew up in a small town in the middle of North Carolina.  My family, and by "my family" I mean grandparents, uncles, aunts, and great uncles were in the newspaper business, a.m. radio station business, the two largest (in the world) bedroom furniture businesses, building supplies businesses, and the oil delivery business.

 

Newspaper was sold to NY Times for $4 mil and today has zero value; 2nd largest bedroom furniture maker bought by Burlington Industries for $25 mil in the late 60's and went to zero; largest bedroom furniture business sold to Masco around 2000 for over $500 million and later sold to Sun Capital Partners for...(yes, true) $25 mil; the a.m. radio stations went from being worth $250k per location to virtually zero when f.m. radio got popular...and ever-so-slightly recovered; the building supply businesses got the living hell beat out of them (fortunately sold all but one well-managed location) by a combo of Lowes/Home Depot, Carter's, and business cycles; the oil delivery got sold early.

 

So KABOOM!  All the businesses I grew up watching family run got annihilated.  I got lucky going into the insurance business, I hadn't a clue.

 

What am I buying today?  Still adding to the energy businesses I own.  Bird in hand vs bird in bush for me.  I do own Google and Facebook and about 300 other stocks, but I'm not certain about them enough to load up on any one, or ten for that matter.

 

The one business mentioned on here that I struggle with is Joe.  I've owned companies like Joe before, asset rich companies selling for fractions of "worth" and such.  Pretty much got poor, very poor outcomes.   The worst was NC Railroad which owned all the rail right-of-way from Charlotte through the Raleigh area to Goldsboro.  Norfolk had a lease on it that was due to be renewed and the land was appraised for x amount by independent appraisers.  Stock never got anywhere close to that appraisal, not even 30% of it.  In the end the state of NC owned the majority of the stock and it got bought from us (by the state of NC) for less than 25% of appraised value.  They leased it again long term to Norfolk saying, "That's what's best for us in NC."   They were correct of course.  Many say the "appraised value" was half the real value, and I pretty much agree.  Probably the most valuable real estate asset fathomable in our area as in places in the big cities it was several hundred, yes hundred, feet wide.

 

Assets versus on-going free cash flow.  I like AJ Gallagher, the free cash flow is ALWAYS far more than the "earnings".

 

Rambling.

Edited October 13, 2022 by dealraker

[Xerxes]

Thanks @dealraker

I very much enjoyed reading your last few posts.

[Gregmal]

Yup. Same here. Great stuff.

[Cod Liver Oil]

40 minutes ago, dealraker said:

I know my timeframe and price divergence tolerances are both far larger than most,

I realize this is an unattainable standard but I love the idea of a hundred year time horizon where you only buy cool companies and never sell them. I love the idea of enjoying the businesses you own amidst all the agitation as both a source of pleasure and education which informs your life.  Owning Nintendo, Disney and MSG is a hell of a lot of fun and has made me a better businessman. I expect the economic returns will come with time. Thanks for articulating that, dealraker.