Gregmal Posted October 24, 2022 Posted October 24, 2022 FRPH when the market is tanking….I love you! FRPH when the market is ripping….fuck you stupid stock. I tend to just ignore it but agree with what you did and have long fought the temptation to rotate in and out of it for similar reasons.
thepupil Posted October 24, 2022 Posted October 24, 2022 (edited) 12 minutes ago, Gregmal said: FRPH when the market is tanking….I love you! FRPH when the market is ripping….fuck you stupid stock. I tend to just ignore it but agree with what you did and have long fought the temptation to rotate in and out of it for similar reasons. i sold FRPH completely in 2020. what i bought drastically outperformed FRPH. I bought it back at higher prices than i sold. I think complete exit was probably a mistake last time / a little too cute. but on the margin owning stuff that holds up in downturns should be monetized (in my opinion). I have sold half my NEN this year as its up 15% and all real estate stuff is in the shitter. now where i'm potentially going wrong is that I've generally used proceeds to buy stuff with lower long term return potential (bonds and shit) than FRPH and NEN. I haven't really used it to buy more aggressive stuff, so I'm being a bit defensive, but not like crawl in a cave and don't take risk defensive. i don't know what the hell is going to happen and am trying to prepare the portfolio for a wide range of scenarios. i should probably be trimming my energy royalties...but those distro's yo... Edited October 24, 2022 by thepupil
Red Lion Posted October 24, 2022 Posted October 24, 2022 2 hours ago, Gregmal said: Started bam Nice entry price I think, especially with the upcoming spinoff which I should unlock a lot of value by having the market put a value on the asset manager, especially at this price.
Canalyst Posted October 25, 2022 Posted October 25, 2022 Have been adding VNQI to my non-taxable account. Portfolio is heavily weighted to Japan with some (~13%) exposure to HK real estate with the rest in developed Europe and UK. It's inverse correlation with the weakening Yen has shot up during the Yen's collapse, and I bought it because a) I am partial to REITs and b) it seemed like a reasonably levered way to play the potential for a dollar reversal. Is this the right way generally to think about international RE? If your thesis is that foreign currencies will at some point strengthen, but still face inflation, is RE a better way to get international exposure into your portfolio?
lnofeisone Posted October 25, 2022 Posted October 25, 2022 Bought a NOV 23/25 diagonal for net credit of 0.01. Nov is reporting earnings this week and I'm expecting reaction similar to SLB.
thowed Posted October 25, 2022 Posted October 25, 2022 18 hours ago, thepupil said: i should probably be trimming my energy royalties...but those distro's yo... Is this for fear of Oil collapse in a hard landing? Or just because of the heady gains you've made? I need to look at the MLPs again as apparently tax is changing again for non-US people on 1/1/23. That I am reluctant is perhaps a reflection that I have fallen too much for DMLP (I just can't find anything I like as much) though a 'Horizon Kinetics Basket' of the C-Corps & Canadians would probably do OK, if not quite a well.
Red Lion Posted October 25, 2022 Posted October 25, 2022 Added starter positions in AGNC/P and RITM/C. Not much of an expert on preferred stock, all I know is that every time the market crashes I see preferred stock that looks attractive and then they usually seem to trade back near to par far quicker than equity markets recover. Maybe this time is different with interest rates, but these are fixed to floating preferred, so they still seem pretty attractive to me.
thepupil Posted October 25, 2022 Posted October 25, 2022 33 minutes ago, thowed said: Is this for fear of Oil collapse in a hard landing? Or just because of the heady gains you've made? I need to look at the MLPs again as apparently tax is changing again for non-US people on 1/1/23. That I am reluctant is perhaps a reflection that I have fallen too much for DMLP (I just can't find anything I like as much) though a 'Horizon Kinetics Basket' of the C-Corps & Canadians would probably do OK, if not quite a well. both i guess. I mean it's more just that I view my royalties as a hedge / "allocation" as opposed to super high returning awesome investments to make 3x+ my money over a short time period (which is what happened), so I think to some extent, I've "overearned" and energy is now 15% of my portfolio which probably a little bit more than i'd like. On the other hand they're unlevered and paying big distros which I'm not reinvesting and there are tax consequences of selling.
Dinar Posted October 26, 2022 Posted October 26, 2022 I bought Remy Cointreau today at E 154 after the negative reaction to H1 FY 2023 sales announcement + disappointing H2 FY 2023 forecast.
Red Lion Posted October 26, 2022 Posted October 26, 2022 Bought back puts that I just sold a few days ago on BABA and OWL. For BABA I paid $0.05 per contract, and I felt like it was worth leaving a nickel on the table than riding this out through Friday. For OWL my puts were expiring on January 20, I sold them on 10/21 for $0.40 and bought back today for $0.17. I felt like the risk:reward on this trade skewed quickly, and I don't feel like holding the position for the next 3 months just to potentially get 40% of the total profit.
Ross812 Posted October 26, 2022 Posted October 26, 2022 Sold puts on OSTK at $25 and $23 and EBAY at $38 expiring next week and two weeks. Added a little to google (to bring me back up to a 10% allocation). Switched from shares to ITM puts on CASH through earnings.
Red Lion Posted October 27, 2022 Posted October 27, 2022 Rolled over maturing T-bills to November 15 22 maturity T-bills with a YTM over 3%, might extend my duration a bit once these mature depending on what the yield curve is looking like at that time.
competitive-advantage Posted October 27, 2022 Posted October 27, 2022 Bull Google X2 Bear Dax X2 Bear STOXX 600 Oil & Gas X2
DooDiligence Posted October 28, 2022 Posted October 28, 2022 Sold the remainder of T and put a bit of it in EW.
ValueMaven Posted October 28, 2022 Posted October 28, 2022 Bought a very small trading position in AGNC ... blow-up risk is real here - but they are at a ~20% discount to book and havent cut the dividend yet. If rates and swap-spreads come down a touch and MBS rally, this could go to $10 quickly
Gregmal Posted October 31, 2022 Posted October 31, 2022 Took a few bucks from the MSG dividend and rolled it into VAL warrants.
jbwent63 Posted October 31, 2022 Posted October 31, 2022 30 day Bankers Acceptance note issued by TD Bank yielding 3.55%. Holding cash, waiting for the big down draft.....patience is difficult but might pay off big.
Ross812 Posted October 31, 2022 Posted October 31, 2022 Sold ITM covered calls on TMUS, AIV and CASH for the 18th. Traded around some OSTK puts sold last week, closed the $25 puts for a 30c gain when the shares are down $1.50. I know there was a lot of volatility priced in with earnings but damn. Sold more puts down a $1 at $22.50. I am trying to occupy myself and keep some powder dry. I sold out of a 20% TBF position that grew to a 30% position after holding onto it for 12 months. I'm still down 5.5% for the year thanks to my conviction in Meta and Google.
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