What are you buying today?

[LearningMachine]

25 minutes ago, Malmqky said:

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)

 

 

At a 51B GBP Market cap yesterday, if you took out $16B ITC stake, you're paying 35B GBP for the company.  Management has publicly committed to 40B FCF over next 5 years.  So, you get your money back in 4.375 years, that is 22.8% FCF yield.

 

Even if you assume US menthol ban happens, you get your money back in 5 years for a 20% FCF yield, instead of 4.375 years. 

 

Few companies like this where management also has some direct control over pricing and margins.   I might still change weighting, and get out and in at different times. 

 

Also, took a small stake in WBA last week, where management currently doesn't have much control over re-imbursement rates, but revenues keep going up over years, and owner-led management is now building a business that will have some control over loss rates with primary care, adherence & specialty pharmacy that insurers would be willing to pay for. 

Edited December 7, 2023 by LearningMachine

[Castanza]

$SAVE

 

This is now a 22% position for me not including options which is another ~3%. Share cost basis of 11.20. 
 

 

Edited December 7, 2023 by Castanza

[Jaygo]

SSNT for a tracker on Brad Jacobs. On December 11th he is doing an announcement on his plans for the company.

[ValueArb]

1 hour ago, Castanza said:

$SAVE

 

This is now a 22% position for me not including options which is another ~3%. Share cost basis of 11.20. 
 

 

 

That's a tremendous basis, you almost bottom-ticked it. Hoping you get a monster payout, and soon.

[Castanza]

9 minutes ago, ValueArb said:

 

That's a tremendous basis, you almost bottom-ticked it. Hoping you get a monster payout, and soon.

 

I added quite a bit on that 11/15-11/16 dip after adding a reasonable amount with it was sub $10. If it weren't for that my cost basis would probably be 12-13ish which imo isn't bad either as a long hold. Been slowly adding more as I sold off other position (HQI and M) for profits. Shares are held in my Roth and options in brokerage (not ideal) but is what it is! 

[sleepydragon]

doubled my Spirit. 

[Paarslaars]

Didn't you already have a large position?

I want to add more but I'm having a difficulty averaging up in the options. 

[sleepydragon]

1 minute ago, Paarslaars said:

Didn't you already have a large position?

I want to add more but I'm having a difficulty averaging up in the options. 

I have both stocks and some calls.  I am adding the stocks only because i am not sure about the timings . Options actually became cheaper recently, especially the Jan options that I owns.. 

 

[Paarslaars]

I own the Jan 20$ options as well but my cost basis is 0.95... up 100% right now so not complaining.

Was thinking to go a bit further out with options to avoid the timing, ruling should be done latest end of January? Worst case mid February? Only concern is a quick "DOJ files for appeal" before I can sell out. 

Edited December 8, 2023 by Paarslaars

[Malmqky]

Little Tencent, little BTI

[n.r98]

Strong view merger closes so sold my 25 Jan JBLU calls and closed out my SAVE option positions for March and added more to SAVE (stock as well to avoid option risk of delay or recuts) just like sleepydrag. 

 

Fings crossed 

Edited December 8, 2023 by n.r98

[sleepydragon]

21 minutes ago, n.r98 said:

Strong view merger closes so sold my 25 Jan JBLU calls and closed out my SAVE option positions for March and added more to SAVE (stock as well to avoid option risk of delay or recuts) just like sleepydrag. 

 

Fings crossed 

my id is not sleepydrag  it's sleepy dragon:)

 

[sleepydragon]

22 minutes ago, n.r98 said:

Strong view merger closes so sold my 25 Jan JBLU calls and closed out my SAVE option positions for March and added more to SAVE (stock as well to avoid option risk of delay or recuts) just like sleepydrag. 

 

Fings crossed 

yeah, I was thinking to close my Jan 20 Calls, but eventually decided to keep it for "blue sky" upside. If deal closes my stocks winning will cover all potential loses from the call.

[sleepydragon]

40 minutes ago, Paarslaars said:

I own the Jan 20$ options as well but my cost basis is 0.95... up 100% right now so not complaining.

Was thinking to go a bit further out with options to avoid the timing, ruling should be done latest end of January? Worst case mid February? Only concern is a quick "DOJ files for appeal" before I can sell out. 

ruling supposed to be out by end of the year.. The judge is probably already typing it up now, impo 

 

[n.r98]

9 hours ago, sleepydragon said:

my id is not sleepydrag  it's sleepy dragon:)

 

sorryyyy sleepy dragon haha

[lnofeisone]

On 12/8/2023 at 10:15 AM, sleepydragon said:

I have both stocks and some calls.  I am adding the stocks only because i am not sure about the timings . Options actually became cheaper recently, especially the Jan options that I owns.. 

 

SAVE weekly puts have an insane premium. You can buy March 15 for $5 and sell weekly going to next Friday for $1. Just some food for thought. 

[Luke]

Baba in Hongkong

[Jaygo]

On 12/7/2023 at 12:26 PM, Jaygo said:

SSNT for a tracker on Brad Jacobs. On December 11th he is doing an announcement on his plans for the company.

Up 23% so far. Thankfully it was just a tracker so I wont get an ego. Nor much more than a champagne lunch for one.

 

Anyway Brad Jacobs will be using this as a platform for his building products dist acquisitions.  After reading the filings the  owners of SSNT will only be getting 15 basis points of the new co and a 2.5 million dollar or 5% one time dividend. So the jump up in shares seems just news driven and will not be overly beneficial. The value of brad Jacobs entity to current shareholders is roughly 10 million or 20% of current cap. 

 

Is there a thread on Building products distribution? may be time to start one since Site, ferg, Building products group, richelieu have  all done very very well and now we have one of the best acquisitors coming into the space. 

[CorpRaider]

1 hour ago, Jaygo said:

Up 23% so far. Thankfully it was just a tracker so I wont get an ego. Nor much more than a champagne lunch for one.

 

Anyway Brad Jacobs will be using this as a platform for his building products dist acquisitions.  After reading the filings the  owners of SSNT will only be getting 15 basis points of the new co and a 2.5 million dollar or 5% one time dividend. So the jump up in shares seems just news driven and will not be overly beneficial. The value of brad Jacobs entity to current shareholders is roughly 10 million or 20% of current cap. 

 

Is there a thread on Building products distribution? may be time to start one since Site, ferg, Building products group, richelieu have  all done very very well and now we have one of the best acquisitors coming into the space. 

I have some relatives who, to all outward appearances, have done very well in this space over time.

[jouni1]

1 hour ago, Jaygo said:

Up 23% so far. Thankfully it was just a tracker so I wont get an ego. Nor much more than a champagne lunch for one.

 

Anyway Brad Jacobs will be using this as a platform for his building products dist acquisitions.  After reading the filings the  owners of SSNT will only be getting 15 basis points of the new co and a 2.5 million dollar or 5% one time dividend. So the jump up in shares seems just news driven and will not be overly beneficial. The value of brad Jacobs entity to current shareholders is roughly 10 million or 20% of current cap. 

 

Is there a thread on Building products distribution? may be time to start one since Site, ferg, Building products group, richelieu have  all done very very well and now we have one of the best acquisitors coming into the space. 

Interested as I missed out on XPO despite buying it once Do start a thread to keep track of this. Sounds like the best time to purchase isn't probably right now though

[KPO]

(Re)starter in BTI after a year hiatus. Kind of surprising to see this yielding 10%. 

[Xerxes]

3 hours ago, Jaygo said:

Up 23% so far. Thankfully it was just a tracker so I wont get an ego. Nor much more than a champagne lunch for one.

 

Anyway Brad Jacobs will be using this as a platform for his building products dist acquisitions.  After reading the filings the  owners of SSNT will only be getting 15 basis points of the new co and a 2.5 million dollar or 5% one time dividend. So the jump up in shares seems just news driven and will not be overly beneficial. The value of brad Jacobs entity to current shareholders is roughly 10 million or 20% of current cap. 

 

Is there a thread on Building products distribution? may be time to start one since Site, ferg, Building products group, richelieu have  all done very very well and now we have one of the best acquisitors coming into the space. 

as much as I like to be alongside him for his next venture, this specific vehicle sounds like a SPAC, where the price gets unhinged a bit. There will be a lot of front running here. 

[CorpRaider]

2 hours ago, jouni1 said:

Interested as I missed out on XPO despite buying it once Do start a thread to keep track of this. Sounds like the best time to purchase isn't probably right now though

Yeah I'll probably at least wait until he wraps up his book tour before taking a real look.  haha.

[Jaygo]

Yes the action on ssnt is crazy. As my quick calculation came to buying at todays price and discounting the existing business and the dividend marks the newco at around 12biillion dollars. Kind of steep for a platform without a single acquisition. 
 

folks do love a story though. I bought purely to keep tabs so I don’t forget to dig deeper down the road once it’s up and running. 
 

as I mentioned above. 40% in five days would be great if I had bought any quantity.  

[Dinar]

1 hour ago, KPO said:

(Re)starter in BTI after a year hiatus. Kind of surprising to see this yielding 10%. 

Pro-forma for December dividend and increase in March closer to 10.7-11%