Cod Liver Oil Posted December 19 Posted December 19 (edited) Adding MSGE to the PE RE bucket. Edited December 19 by Cod Liver Oil
John Hjorth Posted December 19 Posted December 19 21 hours ago, Spekulatius said: Yes, that’s it. One of my favorite Blogs ValueAndOpportunity posted about it and bought it a while ago. I did not buy at that time but checked the results and like what I saw. Welcome to CoBF ! Thank you for the elaboration, @Spekulatius .
John Hjorth Posted December 19 Posted December 19 1 hour ago, brobro777 said: Bought some -26% YTD JOE Me too - there is nothing like adding a bit to an initial position being in the hole.
Junior R Posted December 19 Posted December 19 @Red Lion, @ICUMD @Dinar Thanks for the responses...Already own CNR ...Will add CP to the watchlist of potential buys
Junior R Posted December 19 Posted December 19 3 hours ago, Red Lion said: I don't have a specific valuation, it's more that I feel that this is a fair multiple for the combined CP/KSU business if they're able to execute on their synergies/revenue growth/margin improvement goals set out at the investor day. Management is projecting mid double digit EPS growth through 2028. I'm not backing up the truck yet, but I've sniffed around the railroads for years and always end up missing good entry points waiting for a better valuation. I also think that CP has been selling off on some idea that the Trump Trade is bad for trade with Mexico. I just don't buy that argument at all, I think onshoring will lead to more trade with Mexico and Canada than ever before. Right now I've been recycling some gains inside my tax deferred accounts and dabbling in a few different ideas as I get more comfortable with them. This is usually my strategy, but I'm trying to diversify away from my favorite subsector (the alternative asset managers) since I've seen what happens to them in choppy markets and it's not pretty. what do you think of CG ...Still under priced compared to the other asset managers
Red Lion Posted December 19 Posted December 19 41 minutes ago, Junior R said: what do you think of CG ...Still under priced compared to the other asset managers I don't want to slander CG, and I need to revisit the idea to give it a fair shake. However, I developed an opinion that CG is something of a perennial underperformer in terms of AUM growth and with a greater component of carried interest than its competitors. This opinion was developed several years back, and I think that proved out to be true over a number of years, but I haven't done a deep dive since 2019 or 2020. I also decided to exit brookfield and focus more on OWL/KKR/APO/BX. I need to revisit Brookfield and CG again, possibly BAM. I just have a feeling we might be seeing some significant equity market volatility next year, and I'd like to use this as a position of strength to jump back into my favorites. I am continuing to hold big positions in OWL and APO, but don't feel like they're at super attractive entry points. Yet I wrote that about APO when I started the topic (that it wasn't a great entry point) and it's over doubled since then. I need to stop trading so much, I'm sure it's hurting my returns.
Junior R Posted December 19 Posted December 19 11 minutes ago, Red Lion said: I don't want to slander CG, and I need to revisit the idea to give it a fair shake. However, I developed an opinion that CG is something of a perennial underperformer in terms of AUM growth and with a greater component of carried interest than its competitors. This opinion was developed several years back, and I think that proved out to be true over a number of years, but I haven't done a deep dive since 2019 or 2020. I also decided to exit brookfield and focus more on OWL/KKR/APO/BX. I need to revisit Brookfield and CG again, possibly BAM. I just have a feeling we might be seeing some significant equity market volatility next year, and I'd like to use this as a position of strength to jump back into my favorites. I am continuing to hold big positions in OWL and APO, but don't feel like they're at super attractive entry points. Yet I wrote that about APO when I started the topic (that it wasn't a great entry point) and it's over doubled since then. I need to stop trading so much, I'm sure it's hurting my returns. Thanks I had APO and sold it to early this year for 2025 plan is to let good companies run lol
Spekulatius Posted December 20 Posted December 20 8 hours ago, Junior R said: added pax I think this is one to watch. it’s probably impacted by the malaise in South America with Brazil, and Mexican equity markets going down the tubes.
Spekulatius Posted December 20 Posted December 20 (edited) I added to LNR, STNE and bought a starter in BAX and ITM (Italmobilare an currently Italian private equity Holdco) Edited December 20 by Spekulatius
Seoshin Posted December 20 Posted December 20 Finally bought a position in JOE while added to FRPH, CPNG, and DHR
Junior R Posted December 20 Posted December 20 50 minutes ago, Spekulatius said: I added to LNR, STNE and bought a starter in BAX and ITM (Italmobilare an currently Italian private equity Holdco) also added LNR today
DooDiligence Posted December 20 Posted December 20 4 minutes ago, WolfofDividend said: Novo Nordisk Don't do it because of me. I'm a borderline idiot.
WolfofDividend Posted December 20 Posted December 20 45 minuti fa, DooDiligence ha detto: Non farlo per colpa mia. Sono un idiota borderline. Don't worry...Small increase to my position…
DooDiligence Posted December 20 Posted December 20 42 minutes ago, WolfofDividend said: Don't worry...Small increase to my position… Me too. I've owned this since 2016 when the Clinton v Trump debate sparked concern over pricing controls. I trimmed last year and basically just put all that cash back in but for twice the shares. I expect we'll see a lot of rips in various sectors as politicians flap their lips over the next 4 years.
Spekulatius Posted Saturday at 03:56 PM Posted Saturday at 03:56 PM (edited) I know Europe is uninvestible but I have found this VIC thesis on Elis SA quite compelling: https://valueinvestorsclub.com/idea/Elis_SA/5242429684 It’s basically a uniform laundry/ consumables business similar to VSTS or Cintas, but mainly in Europe. they do have a good track record as far as I can tell, but the stock has recently taken a hit as they have taken an interest in VSTS, which makes no sense (imo) an acquisition for them. no this is apparently off the table but investors are obviously now discounting the possibility of an dilutive merger. I think Eli’s is attractive because the outsourcing of these things is a trend, the revenues are somewhat re-occurring and they can gobble up many small operators at supposedly relatively low multiples. Haven’t done a whole lot work on this, it seems good enough to buy a few shares and probably will add more. This and Italmobilare ( a publicity trades private equity like fund trading at a 45% discount to NAV) have been recent buys in Europe. Edited Saturday at 03:56 PM by Spekulatius
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