What are you buying today?

[Dinar]

Vestis a couple of weeks ago.  While the stock is up around 10% from my purchase price, I think that the upside is tremendous and it may as much as a three bagger over the next 5 year if the company hits the targets that it mentioned at its investor day.  

[valueventures]

On 11/10/2023 at 2:10 PM, Libs said:

This week I topped off each member of my "Magnificent Seven." 

 

JOE

HQI (oops!)

FAIRFAX

CNSWF

LMGIF (Lumine)

XPEL

SCHW

CASH

 

Ok, so "Magnificent Eight." They are equal positions. If as a group, this pile of money doesn't double in 5 years, my confidence will be shattered because I'm in love with every one of these. (One will probably flame out, I have no idea which).

 

 

 

 

Big fan of these holdings. Curious to hear how you’re weighting them. Thanks!

[Libs]

10 hours ago, valueventures said:

Big fan of these holdings. Curious to hear how you’re weighting them. Thanks!

All are 6% positions, with the exception of CASH, which I built to 10% when it hit the low 40's this year. But I will pare it back to 6% (cost basis) if /when it hits $55.

 

I've experimented over the years with much higher weightings, (I'd have gladly gone to 12% each in my younger days!) but I'm older now, and have more to lose; I've also finally absorbed the truth of the coffee-can approach and will just let these ride unless something fundamental gets broken.

 

 

 

Edited December 3, 2023 by Libs

[Dinar]

On 11/22/2023 at 12:42 PM, CorpRaider said:

Yeah, I mean shit new york apartments at sort of the same values as Cleveland class C SFH rentals.

 

Why do you say shit NY apartments?  A very substantial portion of the value is the Tribeca House, Brooklyn Heights property, 1010 Pacific, Dean Street property, the Upper West Side property and the Aspen, none of which  I would call garbage.  Sure, the Flatbush property is in that category, but how much value net of mortgage do you assign to it?

[lnofeisone]

On 12/1/2023 at 10:28 AM, sleepydragon said:

more SGEN for Christmas

I've been looking to park some cash for a little bit. What's your take here. Like most biotech, this one will most likely close? I'm looking at this one and MRTX. Thanks.

[CorpRaider]

8 hours ago, Dinar said:

Why do you say shit NY apartments?  A very substantial portion of the value is the Tribeca House, Brooklyn Heights property, 1010 Pacific, Dean Street property, the Upper West Side property and the Aspen, none of which  I would call garbage.  Sure, the Flatbush property is in that category, but how much value net of mortgage do you assign to it?

I meant...sheeeeeeatt <pause> NYC apartments for...(cheap).  Like as an expression of incredulity.  Yeah Flatbush is free/paid option.

[fareastwarriors]

4 hours ago, CorpRaider said:

I meant...sheeeeeeatt <pause> NYC apartments for...(cheap).  Like as an expression of incredulity.  Yeah Flatbush is free/paid option.

 

 

[Luke]

Small starter in Consol Energy

[50centdollars]

On 11/21/2023 at 1:19 PM, no_free_lunch said:

Atrion $ATRI

 

This is a mega compounder that is on sale.  Niche medical device market.  Good financial position with no real debt.  In regards to the huge decline (it's down 60% from ATH) I would just say that this is how it rides, and it isn't always clean.   We are currently at a down phase but the company is trading around 15x prior year earnings and has historically compounded at 15-20%.  Not sure if they can continue at that rate but I feel it's way too cheap.  There will probably be at least another quarter before sales turn around but most of the slow down has been due to oversupplying channels due to COVID demand.  I have the impression that the business is not fundamentally impaired.   I feel it could trade at 20-25x normalized earnings, which is 30-70% from here plus any growth they can pull off.

A few insider buys lately including CEO. 

[KJP]

Exchange Bank of Santa Rosa (EXSR)

OP Bancorp (OPBK)

United Bancorporation of Alabama (UBAB)

 

Part of a small bank bundle that also includes Truxton (TRUX), Citizens Bancshares (CZBS), and M&F Bancorp (MFBP)

[LC]

KJP - I have not done work on the small banks (so many of them, difficult to sort) What are you looking at that attracts you to these small banks? Strong interest earning book? Low CRE exposure? Valuation? I feel some of the larger banks also kind of fit the bill - what do you like small vs. big? 

[dipod]

QQQ puts expiring next year.

[KJP]

3 hours ago, LC said:

KJP - I have not done work on the small banks (so many of them, difficult to sort) What are you looking at that attracts you to these small banks? Strong interest earning book? Low CRE exposure? Valuation? I feel some of the larger banks also kind of fit the bill - what do you like small vs. big? 

 

The ones I'm buying are all very cheap and (I think) have good to very good sustainable businesses or other interesting aspects, such as access to extraordinarily cheap, permanent financing (CZBS, UBAB, MFBP), an excellent fee-based business (TRUX), or healthy insider ownership (TRUX, OPBK).  Also, I don't think any of them too many long-duration, low-yield assets.

 

I haven't looked at any of the big banks.  I find their financials and multiple business lines too complicated to understand.

 

 

Edited December 4, 2023 by KJP

[sleepydragon]

Added to LQDA after yesterday’s trial

[Castanza]

$SAVE shares

[Luke]

Added to Prosus

[KJP]

IDT Corp.

[longlake95]

FFH

[Spekulatius]

$NNI and $APA.

[texual]

Yesterday;

 

Bought large positions in Paypal, Block

Bought smaller position in Intel, GM, 

Bought even smaller positions in Paramount Global B, Spirit Airlines, Jetblue

 

[Luke]

1 hour ago, longlake95 said:

FFH

Conviction

[longlake95]

10 minutes ago, Luca said:

Conviction

well, it's a 12 ish percent holding. Trying to lean in here...

[Charlie]

Bought some Occidental shares for my parents, from the proceeds of selling Ali Baba (ouch!)

With Berkshire and Fairfax as big partners I think the risk/reward equation looks better and it´s safer.

Jack Ma made me nervous.

 

[LearningMachine]

Bought BTI yesterday.

 

My biggest position in any stock. Ever.

[Malmqky]

11 minutes ago, LearningMachine said:

Bought BTI yesterday.

 

My biggest position in any stock. Ever.

Oh my. That’s conviction alright!

 

I’m considering increasing my position as well - though I prefer a basket approach with PM (nice) and MO (ew…maybe one day it’ll be better/cheaper)