What are you buying today?

[E. Nashton]

Congrats @Gregmal! You're a solid dude and thanks for the chat many many months ago....helped just being able to talk it out. 

[KPO]

4 minutes ago, Gregmal said:

Eventually moving. In between probably gonna be both a rental and a second home for a bit. Main objective was to secure a real property somewhere I could live. Backfill the financial and ROI stuff after LOL. 

Sold your keys house? I guess I need to get over to JOE land instead of the keys next time I’m in this part of the country. 

[Gregmal]

7 minutes ago, KPO said:

Sold your keys house? I guess I need to get over to JOE land instead of the keys next time I’m in this part of the country. 

Nah still have the Keys and its still my favorite place in the world but you just cant live there full time unless you are fully committed to fried food and alcoholism. Im only like 20-30% committed to those things and my kids need a good school system and place to play/do sports/make friends. 

[KPO]

4 minutes ago, Gregmal said:

Nah still have the Keys and its still my favorite place in the world but you just cant live there full time unless you are fully committed to fried food and alcoholism. Im only like 20-30% committed to those things and my kids need a good school system and place to play/do sports/make friends. 

Makes sense. Congrats on the new acquisition. As the build progresses you might have to pass along tips on the finer points of moving down to JOE country in terms of property insurance, utilities, local contractors, etc.

[Gregmal]

Biggest surprise so far is actually insurance. Its like $3-4k to insure a $1M house. Maybe even a little less. Would've thought like $20k+ based on what you hear. Taxes are less than 1% of home value. Even the optional $50k up front Club fee in the proper perspective is enlightening. It costs $120-150k for a tiny backyard pool but even the builders tell you it is like 30% cheaper if you just have it done later on your own. But even still, the included amenities are insane and why pay $100k for a tiny pool when you can pay $50k once and then $10k a year and have access to all the clubs, miles of private beach, and golf courses that come with Club membership? The flywheel here is insanely efficient for everyone involved. 

[LC]

Greg we’re gonna need pictures of this 20-30% commitment to alcoholism. Congrats on the new digs- I would guess you don’t end up being the only COBF member who settles in JOE land!

[Castanza]

37 minutes ago, Gregmal said:

Eventually moving. In between probably gonna be both a rental and a second home for a bit. Main objective was to secure a real property somewhere I could live. Backfill the financial and ROI stuff after LOL. 

 

haha very nice! Something tells me you're getting in at precisely the right time

[Saluki]

I have family in PB County and have been going there once or twice a year since the 90s.  I don't know any professional who has moved there and regretted it (3 friends from law school, my sister (Ph.D) and my best friend since HS (CPA).  I think it's harder to make a go of it as a working class person because lower salaries go along with cheaper house prices (compared to the Northeast), but a professional salary that would make you middle class in NYC is baller money in a place like Tampa or Jacksonville.   I hope JOE land gets to be a popular place to live, not just vacation, in the future. 

 

In isolation that club membership sounds like a lot, but a partner at my old law firm pays more than that for a Golf course membership and it's only warm enough to golf here 8 months of the year. 

 

That pool looks small, but if you were to install something like that, it might be small enough for one of those endless pools where you can swim against the current and never have to turn around.  Something to consider, there's no law that says you can't have a club membership AND your own pool

[Gregmal]

9 minutes ago, Saluki said:

I have family in PB County and have been going there once or twice a year since the 90s.  I don't know any professional who has moved there and regretted it (3 friends from law school, my sister (Ph.D) and my best friend since HS (CPA).  I think it's harder to make a go of it as a working class person because lower salaries go along with cheaper house prices (compared to the Northeast), but a professional salary that would make you middle class in NYC is baller money in a place like Tampa or Jacksonville.   I hope JOE land gets to be a popular place to live, not just vacation, in the future. 

 

In isolation that club membership sounds like a lot, but a partner at my old law firm pays more than that for a Golf course membership and it's only warm enough to golf here 8 months of the year. 

 

That pool looks small, but if you were to install something like that, it might be small enough for one of those endless pools where you can swim against the current and never have to turn around.  Something to consider, there's no law that says you can't have a club membership AND your own pool

Yea we are definitely doing the pool against my better judgement. I hate owning a pool from a recurring headache perspective but the kids demand it and it’s a good ROI for these sort of properties. But bigger picture it highlights the value of Clubs. Especially during peak season when no one in their right mind is messing with public beach access areas. 

[fareastwarriors]

Congrats Greg!

[TwoCitiesCapital]

On 1/20/2023 at 2:58 PM, rkbabang said:

Picked up a few more SI 2025 $12.5 calls and a few more 2025 OSTK $25 calls.

 

 

 

On 1/5/2023 at 10:21 AM, TwoCitiesCapital said:

1/2024 $15 calls on Silvergate Bank

 

Down 40% today alone. Much more over the last several months.

 

Betting that it's a knee-jerk reaction, that they'll survive, and will be well positioned in the future.

 

Wondering if I sell? Or if I hold for the next 11-months of time value I've paid for?

[rkbabang]

4 minutes ago, TwoCitiesCapital said:

 

 

 

Wondering if I sell? Or if I hold for the next 11-months of time value I've paid for?

 

I'm up more than 50% on mine, but I'm going to hold.  I paid up for another 23 months from now which I think should put us into the next crypto cycle.  I'm not sure what I'd do if I held the Jan 2024s.

[bizaro86]

5 minutes ago, rkbabang said:

 

I'm up more than 50% on mine, but I'm going to hold.  I paid up for another 23 months from now which I think should put us into the next crypto cycle.  I'm not sure what I'd do if I held the Jan 2024s.

I bought the Jan 2024s ($20 strike) when two cities made his original post. They've ~tripled. Luckily I sold >90% of the position for an average ~30% gain before the rip. Should help me stay humble in the future.

 

Binary stuff like this I think it makes sense to go way out of the money because you get a better return if it really works and it's probably a zero otherwise anyway. And then the other big lesson is to let the winners run...

[competitive-advantage]

21 hours ago, Gregmal said:

Looks great. Enjoy

[Viking]

CVE and a smaller amount of SU. Shares are cheap (both were taken out behind the woodshed the past 5 days). Free cash flow is large. What to do? Buy back stock hand over fist. Canadian oil companies are going to be buying back large amounts of shares in 2023. Should also provide a floor in the stock price. 

[Gregmal]

On 2/2/2023 at 9:40 AM, LC said:

Greg we’re gonna need pictures of this 20-30% commitment to alcoholism. Congrats on the new digs- I would guess you don’t end up being the only COBF member who settles in JOE land!

Half dozen by noon?(1 pm given the time difference)…yes we can courtesy of the fine folks at The Pearl.

 

 

[gfp]

Oh man, 5v crimp with exposed fasteners?  I thought for sure this was a standing seam quality property lol...

[LC]

4 minutes ago, Gregmal said:

Half dozen by noon?(1 pm given the time difference)…yes we can courtesy of the fine folks at The Pearl.

 

Go get em tiger!! 

[Spooky]

Bought a starter position in Citibank, GVLU ETF and some more VOO

[Monsieur_dee]

1 hour ago, Gregmal said:

Half dozen by noon?(1 pm given the time difference)…yes we can courtesy of the fine folks at The Pearl.

 

 

Congrats! 

[DooDiligence]

1 hour ago, Spooky said:

Bought a starter position in Citibank, GVLU ETF and some more VOO

 

Same. I'm not a wiggle watcher but if this follows recent trends I'll be happy to make it a 3% position as it drops.

 

I read the entire Citi thread over the past week. Thanks to all the contributors. Misery loves company.

[Eng12345]

CPNG & C

 

CPNG is my largest position in my taxable account and keeps growing...opportunities to buy keep presenting. 

 

C is now my third largest position.

 

Looking to get more SU but waiting on a bit more dip... 

 

I have to start deploying capital...my I'm 20% cash in my taxable account and due to annual bonus and overtime I expect my taxable account to double in value over the next 1-2 months

[n.r98]

Bought some SPB calls expiring July. Thinking of initiating a position in $CG at some point to play the alt inv space. 

[Saluki]

Added some TV and SWBI on the dip.  Placed a limit order for Fairfax India in my retirement account this morning, but it hasn't been filled

[Stuart D]

5 hours ago, n.r98 said:

Bought some SPB calls expiring July.

Nice!

I’m surprised this name doesn’t get more airtime. If the deal closes won’t they have more cash than market cap? Plus management previously said they would use the proceeds to buyback stock.