What are you buying today?

[hasilp89]

13 minutes ago, Gregmal said:

Coupang, Procore, Markel

whats the thinking on procore Greg? Never looked into it but have seen it used by GC's and know it is invaluable in making the process efficient. on the face of it looks like they don't make money though - could be missing something.

[modiva]

BAC, EPSN, add to Fairfax

Edited March 13, 2023 by modiva

[Gregmal]

17 minutes ago, hasilp89 said:

whats the thinking on procore Greg? Never looked into it but have seen it used by GC's and know it is invaluable in making the process efficient. on the face of it looks like they don't make money though - could be missing something.

CRE is bombed out, so is small tech, so short term the stock probably has some downside, but from the current point in time out, these guys solve major problems in the project management process. Government contracts especially where overpaying for security of ass coverage is commonplace. This just seems like something that can work its way into a space that is still relatively archaic and ripe for disruption. Once in it’s hard to replace. So margin expansion is probably a given, as is decent growth on the base revenue if you look out a few years.

[Paarslaars]

More BAC, OXY.

Starter in JOE.

[ourkid8]

More $BN at $29   

[aesophawk]

DOM and BAC

[lnofeisone]

BAC, TFC Calls

[dealraker]

1 hour ago, FCharlie said:

Truist (BB&T/SunTrust)

 

1997 $31

2023 $31

 

I bought this morning. 

Bought more Truist today.

[CorpRaider]

GHC,  caught a fill on a limit order placed in calmer times.

[Red Lion]

Added to ARES and OWL

[Cor]

1 hour ago, Gregmal said:

CRE is bombed out, so is small tech, so short term the stock probably has some downside, but from the current point in time out, these guys solve major problems in the project management process. Government contracts especially where overpaying for security of ass coverage is commonplace. This just seems like something that can work its way into a space that is still relatively archaic and ripe for disruption. Once in it’s hard to replace. So margin expansion is probably a given, as is decent growth on the base revenue if you look out a few years.

To add to this regarding Procore. Friend of mine works at a competitor. Procore is the dominant player in construction and has the brand name recognition. They grow by digitizing manual project management workflows for net new customers and also by increasing the cost of subscriptions upon renewal. It seems pretty sticky - not quite like SFDC but close so pretty hard to replace. 

[KPO]

50 minutes ago, CorpRaider said:

GHC,  caught a fill on a limit order placed in calmer times.

Same. And I thought I was the only one on here buying this boring company at an 11% free cash yield. Also added some Fairfax.  

[dealraker]

Had a big zero interest whatsoever in buying more EWBC but the quote fall looks beyond rediculous.  Either I'm stupid or the market is.  We will see.  

 

03/13/2023

Buy

7,000  EWBCPopup EAST WEST BANCORP IN @ $51.1938

[KJP]

4 hours ago, KJP said:

Western Alliance, which is probably the kiss of death for the bank.

 

Sold this afternoon.  Probably more juice left but so be it.

[SHDL]

Added a bit to BAC and JOE, low ball bids for SCHW didn't get filled.

[Sweet]

17 minutes ago, KJP said:

 

Sold this afternoon.  Probably more juice left but so be it.

What price did you get filled at?

 

I’m going to let mine run… or die

Edited March 13, 2023 by Sweet

[StevieV]

Small adds to JOE and Fairfax.  No heroic moves.

 

[KJP]

7 minutes ago, Sweet said:

What price did you get filled at?

 

I’m going to let mine run… or die

Bought just under $12 and sold around $25.  It was tricky getting in and out with all the halts.

 

Western Alliance doesn't look like it was doing anything crazy, so it doesn't look like the kind of bank regulators would want to let go.  That was my entire thesis for buying this morning after 30 minutes or so of research.  In other words, I really know almost nothing about the bank.  Moreover, I believe the vast majority of its assets (actual loans, rather than Treasuries or insured MBS) are not eligible collateral for the new Fed lending facility. 

Edited March 13, 2023 by KJP

[throw123]

ally and kmx

[kh812000]

4 hours ago, Viking said:

BAC, WFC, C, SU

 

All down more than 5%. It looks to me like the big banks will be the big winners. The business at all the small banks that are going under will need to squish somewhere.

With the FED/FDIC effectively backstopping unlimited deposit amounts, it effectively negates any advantage of balance sheet size.  So to me its unclear big banks are the winners as now ANY bank deposit at ANY bank is "safe"...  

[fareastwarriors]

45 minutes ago, dealraker said:

Had a big zero interest whatsoever in buying more EWBC but the quote fall looks beyond rediculous.  Either I'm stupid or the market is.  We will see.  

 

03/13/2023

Buy

7,000  EWBCPopup EAST WEST BANCORP IN @ $51.1938

 

Not more CATY?

[dipod]

BAC and WFC 2025 calls

[Sweet]

1 hour ago, KJP said:

Bought just under $12 and sold around $25.  It was tricky getting in and out with all the halts.

 

Western Alliance doesn't look like it was doing anything crazy, so it doesn't look like the kind of bank regulators would want to let go.  That was my entire thesis for buying this morning after 30 minutes or so of research.  In other words, I really know almost nothing about the bank.  Moreover, I believe the vast majority of its assets (actual loans, rather than Treasuries or insured MBS) are not eligible collateral for the new Fed lending facility. 

Ditto, know almost nothing about it.

 

I just felt like the Fed had come out with a solution for the mark to market paper losses and that this wasn’t fully understood.

 

Unfortunately the position was so small that it means almost nothing to me, even after todays 150% rip from the lows.  If I had of known more I could have sunk a lot more into it.

[Red Lion]

Started a new position in AMP. 

[dealraker]

2 hours ago, fareastwarriors said:

 

Not more CATY?

EWBC is in the heat of it- fell 20% today after falling previously.  We will see, time will tell.

 

CATY has been relatively stable.