What are you buying today?

[fareastwarriors]

JOE and a bit of OXY

[Rustycage]

Joined the JOE shareholders club this week

[ValueMaven]

Added to Heico 

[Spekulatius]

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 December 21, 2024 by Spekulatius

[Paarslaars]

Just to be original, I added a bit of JOE yesterday.

[frommi]

2026 Calls on EVO

[Luke]

1 hour ago, frommi said:

2026 Calls on EVO

Nice one, i like the setup too, all the best!

[Blake Hampton]

From the 17th through the 19th, Buffett bought almost 9 million shares of OXY stock. Since the 10-day average volume is about 14.5 million shares, that means Buffett bought approximately 20% of all the shares traded in just those three days. I find it interesting because I can recall him explaining how he bought 20% of the volume the first go-round.

 

Is this a limit for him?

Does he start experiencing problems when he tries moving above this figure?

 

Form 4 - Buffett's OXY Purchases

 

Edited December 23, 2024 by Blake Hampton

[LC]

3 hours ago, frommi said:

2026 Calls on EVO

What broker are you using? IBKR apparently doesn’t allow me to trade this. 

[frommi]

1 hour ago, LC said:

What broker are you using? IBKR apparently doesn’t allow me to trade this. 

IBKR. Maybe check your trading rights?

[Lance]

Wrote puts on COIN and SWBI.

 

Added to ADM and JOE.

 

Thanks

Lance

[Castanza]

FRPH, JOE, DEA (Thanks Lance and Pupil for putting on the radar)

 

 

[Cod Liver Oil]

Covering MSTR short.

Buying big oil, Joe and MSGE.

A quick visit to the toy store.

Visiting bros with bags of Sey coffee. 

[Libs]

TSLS

[Cod Liver Oil]

@Spekulatius what do you think of the Pesenti family? Are they aligned? Even at half NAV, this has been a dog. Is there a catalyst? I keep thinking of JOE at 1/3 NAV, well run and well aligned (except for the Bruce overhang). Why own a collection of assets with no synergies? I suppose this goes for other family run European dynastic holding companies.  Cheap but hard for minorities to own in size. As you know, we own the Bollore complex in decent size but I’m agnostic. 

[Saluki]

Picked up some CPNG and JOE. Starter position in DEA while I study it.  A few shares of SWBI and EPD on the pullback. 

 

I'll do some trimming of higher basis shares on a few things like OXY after Jan 1 and maybe lock in some losses to offset (hopefully) future 2025 gains.

 

A small resting bid for FRPH bid just got filled below $30. I'll probably reset it a little lower and see what happens. 

[John Hjorth]

50 minutes ago, Cod Liver Oil said:

@Spekulatius what do you think of the Pesenti family? Are they aligned? Even at half NAV, this has been a dog. Is there a catalyst? I keep thinking of JOE at 1/3 NAV, well run and well aligned (except for the Bruce overhang). Why own a collection of assets with no synergies? I suppose this goes for other family run European dynastic holding companies.  Cheap but hard for minorities to own in size. As you know, we own the Bollore complex in decent size but I’m agnostic. 

 

@Spekulatius & @Cod Liver Oil ,

 

I have looked at Italmobiliare more than shortly here in the Hollidays, and that excercise caused my interest, too. If we already are three persons here on CofB&F interested in discussing the company, to me personally, that must be sufficient basis for starting a new and separate topic about the company in the Investment Ideas forum.

 

I hope you'll do it, @Spekulatius, - no need for some chrome-plated write-up, perhaps just a short explanation of what the company does and is engaged in, combined with your thoughts, perhaps just set up as bullet points. That'll do.

[Whensthepaintdry?]

A very small amount of SSD for starters. 

[KPO]

HOG

[whatstheofficerproblem]

IREN, TMDX

[Gregmal]

MGM and MSGE

[whatstheofficerproblem]

MGNI, like how the tide is turning.

[Spekulatius]

8 hours ago, Cod Liver Oil said:

@Spekulatius what do you think of the Pesenti family? Are they aligned? Even at half NAV, this has been a dog. Is there a catalyst? I keep thinking of JOE at 1/3 NAV, well run and well aligned (except for the Bruce overhang). Why own a collection of assets with no synergies? I suppose this goes for other family run European dynastic holding companies.  Cheap but hard for minorities to own in size. As you know, we own the Bollore complex in decent size but I’m agnostic. 

I don’t know anything about out them, ITM seems to be managed without too much family interfere and they are distributing cash to shareholders. That’s good enough for me.

[John Hjorth]

8 hours ago, Cod Liver Oil said:

@Spekulatius what do you think of the Pesenti family? Are they aligned? Even at half NAV, this has been a dog. Is there a catalyst? I keep thinking of JOE at 1/3 NAV, well run and well aligned (except for the Bruce overhang). Why own a collection of assets with no synergies? I suppose this goes for other family run European dynastic holding companies.  Cheap but hard for minorities to own in size. As you know, we own the Bollore complex in decent size but I’m agnostic. 

 

41 minutes ago, Spekulatius said:

I don’t know anything about out them, ITM seems to be managed without too much family interfere and they are distributing cash to shareholders. That’s good enough for me.

 

This approach and style for posting answers replies to questions and openings for discussions is not my personal cup of tea, and I dare say : Not my personal style. If really not willing to discuss, why even mentioning the company in the first place here on CofB&F while buying.

 

- - - o 0 o - - -

 

Please forget my own post about it, above. I'm not going to spend more time on the company. Hint, if interested : Look at what I have emphasized above, also ref. @Cod Liver Oil.

[RichardGibbons]

22 minutes ago, John Hjorth said:

If really not willing to discuss, why even mentioning the company in the first place here on CofB&F while buying.

 

FWIW, I find a fair amount of value from people just posting what they're buying, even with nothing else. Discussion is great as well, of course.