What are you buying today?

[Blugolds]

1 hour ago, sleepydragon said:

same thing. My wife’s IRA is100% in BRK. It’s doubled. And she is pissed . “Why didnt you listened to me and buy NVDA. I would have 10x the money”

 

 

Haha, Same here, she is all in BRK with over 100% gains, she has girlfriends who’s husbands are excited about BTC and talk about it constantly, guys tell wives it’s not if they will be rich, its when, BTC literally has “unlimited potential”. Wife asks me if we own BTC, I say “Nope”, she says maybe thats something we should put some in to. My wife knows nothing about investing, nothing about finance, she’s tagged along to Omaha a few times, but outside that she doesn’t concern herself with it, I obviously handle the accounts and have since we have been together. 

 

So, no props for BRK from the Real Housewives, its boring, but if some day those gals are sitting on their multi-million dollar yacht and we’re the “broke” friends, basically a complete 180 occurs in the financial landscape of the friend group, Im never gonna live it down lol. 

 

 

[boilermaker75]

7 hours ago, 73 Reds said:

Take her to the nearest race track tonight.

 

“A man’s (in this case wife) gotta make at least one bet a day, else he could be walking around lucky and never know it,” Jimmy Jones, horse trainer.

[Paarslaars]

21 hours ago, sleepydragon said:

My wife, sort of an expert in meme stocks in my household, bought for my mother in law ASTS yesterday. Stock is up 45% this morning.

 

In my life I have never bought a stock that’s up 45% in a day. I did bought stocks that’s down 45% in a day (SAVE?).

 

anyone has recommendations about the prospects of this company?

 

Another 16% today, if she sells near the top you're never going to hear the end of it.

[n.r98]

Bought some WOW right at the open. 

[throw123]

kweb

[sleepydragon]

44 minutes ago, Paarslaars said:

Another 16% today, if she sells near the top you're never going to hear the end of it.

No. she asked me to  sell yesterday. I promptly ran to my desks and sold at 29.77. Since then I have been taking a lot of abusing words from her. This morning the stocks shoot up again, my wife almost exploded, and I was instructed to get back in immediately. Fortunately I only bought $2000 (hahaha!). Within minutes, the stock started tanking, wife couldn't take it anymore (she's doing all these while nursing a baby), and instructed me to get out . All in, she made $1000 yesterday and lost $200 today.

I hope the stock tank more, so I will get some peace time for today, which is priceless.

 

  

[Paarslaars]

Haha doesn't sound like she has the right temperament for investing. Then again in the current meme stock era, she might do well.

[Saluki]

2 minutes ago, sleepydragon said:

No. she asked me to  sell yesterday. I promptly ran to my desks and sold at 29.77. Since then I have been taking a lot of abusing words from her. This morning the stocks shoot up again, my wife almost exploded, and I was instructed to get back in immediately. Fortunately I only bought $2000 (hahaha!). Within minutes, the stock started tanking, wife couldn't take it anymore (she's doing all these while nursing a baby), and instructed me to get out . All in, she made $1000 yesterday and lost $200 today.

I hope the stock tank more, so I will get some peace time for today, which is priceless.

 

  

 

Part of the reason that I've been working so much on the emotional side of investing, is that the math isn't difficult, it's the other side that is.  Peter Lynch said that if you can 8+8 and come up with a number that is close to 16, then you have the brains to be a stock investor, but you need the stomach. 

 

It comes naturally for some people, but other people have to work on it.  I met up with a friend for drinks when I was visiting NY a while back, who worked at a Wall Street bank. He was in charge of a department and casually mentioned over dinner that his bosses were giving him a hard time because they were down $12 million that month. He yelled at them they should be thanking him, because if they hadn't done what they did, the bank would be down $50 million, so please GTFO his floor so they could get back to work.

 

I remember being so stressed out at my first legal job because I sent out a bunch of documents to be copied for a discovery request, and I forgot to tell the printer that they had to be bates stamped (i.e. each page had a separate sequential number).  When it came back, the order was useless and I had cost them about $50k.  I thought I would be fired or at least made to pay for it, and I didn't sleep for days. That was a long time ago. I'm down about $40k on my Google position in the past couple of weeks and I didn't even care. So I'm getting better at not being bothered by the losses, but paradoxically I'm not happy with the gains.  I'm trying to train myself to be focused on the process, because the outcome isn't in my control.  It takes reprogramming to view losses with curiosity, not anxiety. 

[73 Reds]

1 hour ago, Saluki said:

 

Part of the reason that I've been working so much on the emotional side of investing, is that the math isn't difficult, it's the other side that is.  Peter Lynch said that if you can 8+8 and come up with a number that is close to 16, then you have the brains to be a stock investor, but you need the stomach. 

 

It comes naturally for some people, but other people have to work on it.  I met up with a friend for drinks when I was visiting NY a while back, who worked at a Wall Street bank. He was in charge of a department and casually mentioned over dinner that his bosses were giving him a hard time because they were down $12 million that month. He yelled at them they should be thanking him, because if they hadn't done what they did, the bank would be down $50 million, so please GTFO his floor so they could get back to work.

 

I remember being so stressed out at my first legal job because I sent out a bunch of documents to be copied for a discovery request, and I forgot to tell the printer that they had to be bates stamped (i.e. each page had a separate sequential number).  When it came back, the order was useless and I had cost them about $50k.  I thought I would be fired or at least made to pay for it, and I didn't sleep for days. That was a long time ago. I'm down about $40k on my Google position in the past couple of weeks and I didn't even care. So I'm getting better at not being bothered by the losses, but paradoxically I'm not happy with the gains.  I'm trying to train myself to be focused on the process, because the outcome isn't in my control.  It takes reprogramming to view losses with curiosity, not anxiety. 

For many people losses feel much worse than the enjoyment derived from gains.  Its just human nature.    Can't speak for others but I became a much better investor when I removed all the emotion from investing.  This comes with experience, age, and likely an increase in net worth.  When you sleep just as well after days your portfolio value loses six figures (or more) as when it gains that much, the emotional part of investing has been sufficiently removed.   

[Paarslaars]

For me it's different. I can hold on during losses, hell I can hold on all the way to 0 which unfortunately has happened a few times (small positions). 

 

I suffer more from FOMO, wanting to be part of every succes story. Instead of just sticking with my best idea's, the ones I understand well.

[dealraker]

1 hour ago, Paarslaars said:

For me it's different. I can hold on during losses, hell I can hold on all the way to 0 which unfortunately has happened a few times (small positions). 

 

I suffer more from FOMO, wanting to be part of every succes story. Instead of just sticking with my best idea's, the ones I understand well.

That's a better model than my psychosis Paarslaars, my stubborn oddball tendency is to obsessively dread and thus avoid investing anywhere others are having success.

[Spekulatius]

On 8/15/2024 at 2:27 PM, sleepydragon said:

same thing. My wife’s IRA is100% in BRK. It’s doubled. And she is pissed . “Why didnt you listened to me and buy NVDA. I would have 10x the money”

 

So why don’t you buy NVDA when you wife asks you to do so, seriously? If my wife tells me she wants to buy something, I do it. Even better, I taught here how to use Fidelity so she can do it herself. i just tell her the ticker symbol, the pro and cons from my perspective and just say go for it!

[Gregmal]

4 minutes ago, Spekulatius said:

So why don’t you buy NVDA when you wife asks you to do so, seriously? If my wife tells me she wants to buy something, I do it. Even better, I taught here how to use Fidelity so she can do it herself. i just tell her the ticker symbol, the pro and cons from my perspective and just say go for it!

Totally. Used to do that with managed accounts too. Someone wants to do something? No pushback from me; only downside getting in the way. 

[Gregmal]

Bought some WEN a few times this week.

[Paarslaars]

18 hours ago, dealraker said:

That's a better model than my psychosis Paarslaars, my stubborn oddball tendency is to obsessively dread and thus avoid investing anywhere others are having success.

Still worked out pretty well for you it seems.  

[sleepydragon]

15 hours ago, Spekulatius said:

So why don’t you buy NVDA when you wife asks you to do so, seriously? If my wife tells me she wants to buy something, I do it. Even better, I taught here how to use Fidelity so she can do it herself. i just tell her the ticker symbol, the pro and cons from my perspective and just say go for it!

I did proposed she do her own trade. but she "prefers me as her broker".

Also, to her credit, she did asked me many times to buy AMZN, TESLA almost 10 years ago, and NVDA last year. I also bought RIVN per her request but sold at a small lose (RIVN subsequently almost doubled after I sold before falling back down to earth).  

[Dinar]

On 8/16/2024 at 8:53 PM, Gregmal said:

Bought some WEN a few times this week.

Why?  What's the thesis?  Thank you.

[Gregmal]

8 hours ago, Dinar said:

Why?  What's the thesis?  Thank you.

Reasonably priced. Somewhat recession resistant. Done way better than stuff like MCD in terms of keeping the menu affordable and expanding the customer value prop. Think there’s some upside on breakfast too. 

[Cod Liver Oil]

Starter in OXY. 
Net margins, already good at 17%, are going up as costs go down:

The average time it takes to drill a well dropped from 35 days to 14 in the last two years. The cost has plummeted from $4.5 million to $2.6 million. The average drill cost per foot was lowered from $245 to $143 as tech improves rapidly.  (Thank you @DooDiligence). Hollub is solid.  Oil may be a good hedge on the macro. Clean energy is dragging its ass and cannot handle Increasing energy demand. Berkshire/Abel have a forensic understanding of the domestic energy picture and find these assets valuable. 

How Booming Electricity Demand Is Stalling Efforts to Retire Coal and Gas:

https://www.wsj.com/business/energy-oil/electricity-demand-coal-gas-retirement-charts-dd07029a?st=475hq4x900m88gc&reflink=article_imessage_share

I am making a case for systemic profit expansion but maybe this is just a commodity shitco in shiny Buffet wrapping. Please let me know. 

 

 

Edited August 20 by Cod Liver Oil

[Charlie]

6 hours ago, Cod Liver Oil said:

Starter in OXY. 
Net margins, already good at 17%, are going up as costs go down:

The average time it takes to drill a well dropped from 35 days to 14 in the last two years. The cost has plummeted from $4.5 million to $2.6 million. The average drill cost per foot was lowered from $245 to $143 as tech improves rapidly.  (Thank you @DooDiligence). Hollub is solid.  Oil may be a good hedge on the macro. Clean energy is dragging its ass economically. Call option on carbon capture silliness and increasing energy demand at 8 times cf.. Berkshire knows the domestic energy business very well and is an owner.

How Booming Electricity Demand Is Stalling Efforts to Retire Coal and Gas https://www.wsj.com/business/energy-oil/electricity-demand-coal-gas-retirement-charts-dd07029a?st=mwk53e1v25itlw3&reflink=article_whatsapp_share

 

+1 

 

Followed Buffett, Watsa and Li Lu in Occidental.

It looks pretty cheap. 

[Mephistopheles]

My concern here is- why the hell hasn’t Buffett bought more?? Is it thumb sucking or is he making a macro call?

[Saluki]

3 hours ago, Mephistopheles said:

My concern here is- why the hell hasn’t Buffett bought more?? Is it thumb sucking or is he making a macro call?

 

Might be neither. Just a wild guess but Crownrock sold $1.7 bln of OXY stock that received to an underwriting syndicate. They may be negotiating with him or others for a block trade, and since he has some material non-public information about the transaction (i.e. the price) he might not buy more on the open market until he or someone else consummates the deal. 

 

Edited to add:  It might be strategic too.  If you want to buy a big block and your buying drives up thestock when it hits the news 3 days after purchase,  you might hold off on the smaller purchases in the market so you don't drive up the price of the big block that you are trying to buy. I've been buying here too. 

 

Or maybe he owns enough already?  Who knows?  Better to buy on fundamentals than game theory. 

Edited August 20 by Saluki
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[brobro777]

Bought some OXY cuz BTI paid me fat dividends this month

[gfp]

I'm going to wait a day or two but I'm hoping to get short the TLT around $100/share.  Probably through October options.  We might even get a quick breakout above 101 but we are coming into some very persistent seasonal trends where no matter what the fundamentals indicate - interest rates have been rising end of august through september pretty regularly.  It will come as a nice surprise with all eyes on the rate cutting cycle.

 

Probably will find some cheap out of the money puts to express it but I may figure out a different plan.  Micro treasury yield futures are pretty user friendly.  Now let's just get her up above 100!

[fareastwarriors]

OXY