What are you buying today?

[John Hjorth]

33 minutes ago, cubsfan said:

A man of John's stature needs some Ferrari !

 

Mike [ @cubsfan ],

 

Ohh, please don't talk about automakers!  Naturally, I've tried that too!  I still sit on trackers in Volkswagen AG and Mercedes-Benz Group AG! Some times I even post in the Volkswagen topic here on CofB&F, and it always ends up with  @Spekulatius asking me, why I haven't sold yet! 

 

Maybe it would be a good idea to reallocate ressources to Ferrari, and to hit on Susanne Klatten in stead of BMW! 

 

- - - o 0 o - - -

 

Here on CofB&F we have this thing with a propensity to bashing selfpromotional money managers, striving for AUM instead of returns to their LPs. Guy Spier comes to mind here about that of being selfpromotional. But one thing he can't be accused of is bragging about his returns.

 

He has actually made a ton of money [to his LPs and him] by simply holding on to exactly the Ferrari shares that he bought years ago [2016], however he has reduced position size twice, in 2020Q2 and 2024Q1.

[cubsfan]

31 minutes ago, John Hjorth said:

Here on CofB&F we have this thing with a propensity to bashing selfpromotional money managers, striving for AUM instead of returns to their LPs. Guy Spier comes to mind here about that of being selfpromotional. But one thing he can't be accused of is bragging about his returns.

 

He has actually made a ton of money [to his LPs and him] by simply holding on to exactly the Ferrari shares that he bought years ago [2016], however he has reduced position size twice, in 2020Q2 and 2024Q1.

 

John - yes I remember well. Several years ago, I attended one of Pabrai's meetings in Chicago, where he spoke in detail about Fiat/Chrysler, with a potential Ferrari spinoff. Bought a ton of it.

Made a lot of money. But like a bozo, I sold the Ferrari within a few months - only to watch it continue to rocket up. Of course, it's no normal car - but luxury class bragging rights....

 

I still think a Ferrari would "look good on you".

[LC]

49 minutes ago, cubsfan said:

Made a lot of money. But like a bozo, I sold the Ferrari within a few months - only to watch it continue to rocket up. Of course, it's no normal car - but luxury class bragging rights....

Same...I think it was trading something like 50x earnings, post-spin?

 

Was a lesson to me like: "if you somehow have low-cost shares in a one-of-a-kind asset, it's not the end of the world if you think it is overvalued"

[Luke]

I sold some AMR and also bought more HCC

[Castanza]

34 minutes ago, LC said:

"if you somehow have low-cost shares in a one-of-a-kind asset, it's not the end of the world if you think it is overvalued"

 

That's a big mental hurdle to learn early in your investment career that pays handsomely down the line. Took me awhile too

[thowed]

On 1/3/2025 at 11:28 PM, ValueMaven said:

TPL at $1200

(from best ideas for 2025 thread).

 

Added a tiny bit.

[Spekulatius]

7 hours ago, cubsfan said:

 

A man of John's stature needs some Ferrari !

Bought at a discount through Exor of course.

[Paarslaars]

Little bit of Metaplanet (3350).

[Gregmal]

Selling ULTA and rotating into more COO

[Xerxes]

20 hours ago, cubsfan said:

 

John - yes I remember well. Several years ago, I attended one of Pabrai's meetings in Chicago, where he spoke in detail about Fiat/Chrysler, with a potential Ferrari spinoff. Bought a ton of it.

Made a lot of money. But like a bozo, I sold the Ferrari within a few months - only to watch it continue to rocket up. Of course, it's no normal car - but luxury class bragging rights....

 

I still think a Ferrari would "look good on you".

I think Pabrai himself sold RACE way too early based on “valuation concerns”

[John Hjorth]

On 5/28/2025 at 7:25 PM, John Hjorth said:

... Added a bit today to :

 

MC.PA - LVMH-Moët Hennesy Louis Vuitton SE. ...

 

On 5/29/2025 at 5:40 PM, John Hjorth said:

... Added today a bit to :

 

CDI.PA - Christian Dior SE.

 

Added a bit today to MC.PA - LVMH-Moët Hennesy Louis Vuitton SE.

 

- - - o 0 o - - -

 

Done! - at least for now. ... Then back to sloth mode :

 

 

[Source : Link]

[sleepydragon]

3 minutes ago, John Hjorth said:

 

 

Added a bit today to MC.PA - LVMH-Moët Hennesy Louis Vuitton SE.

 

- - - o 0 o - - -

 

Done! - at least for now. ... Then back to sloth mode :

 

 

[Source : Link]

John, why are you keep adding to LV?

i want to add to Lv but i dont have much conviction. The Chinese economy is a big question mark..

[cubsfan]

1 hour ago, Xerxes said:

I think Pabrai himself sold RACE way too early based on “valuation concerns”

 

Me too... outsmarted myself, like @LC said...

[John Hjorth]

36 minutes ago, sleepydragon said:

John, why are you keep adding to LV?

i want to add to Lv but i dont have much conviction. The Chinese economy is a big question mark..

 

@sleepydragon,

 

I think many underestimate greatly the situational and contextual flexibility and variability in LVMHs total marketing and selling expenses, year by year, and over time.   

 

Perhaps we should continue the discussion in the separate LVMH topic in the Investment Ideas forum.  - Please feel free to grab it from here and carry it over to there! 

Edited May 30, 2025 by John Hjorth

[Castanza]

CPRT

[Lance]

TPL

 

Thanks

Lance

[Cod Liver Oil]

@Lance we have owned a ton of this for a long time. I have no idea what it is worth. When I asked a bro at Horizon, he said "a lot."  Sometimes a lot is "enough." Joe is too.

Edited June 2, 2025 by Cod Liver Oil

[Paarslaars]

More 3350, might reduce MSTR a bit to compensate.

[CharlesMunger]

More Macys. 

[longlake95]

BLDR

[Marco Van Basten]

43 minutes ago, longlake95 said:

BLDR

Same here.  

[dipod]

Shorted PEP short term OTM puts.

[valueventures]

Bought more MKO.V / MAKOF this morning @SafetyinNumbers

[John Hjorth]

On 5/30/2025 at 6:22 PM, John Hjorth said:

Added a bit today to MC.PA - LVMH-Moët Hennesy Louis Vuitton SE.

 

- - - o 0 o - - -

 

Done! - at least for now. ... Then back to sloth mode :

 

 

[Source : Link]

 

Added a bit today to MC.PA - LVMH-Moët Hennesy Louis Vuitton SE. [Using cash in tax deferred accounts.] -Now done!

[Jaygo]

1 hour ago, valueventures said:

Bought more MKO.V / MAKOF this morning @SafetyinNumbers

Have a look at Soma too. I put it more in a spec pile than Mako but there are some similarities you may find interesting. Similar scale and AISC. Columbia vs Nicaragua Both looking to double production in the next 2yrs.  

 

The one thing that allows me to hold mako in much larger scale is the Jurisdictional risk is far less and Akiba is so vocal you always know what's going on. Soma is not promotional at all so its hard to keep track of progress.

 

I hold roughly 10x more mako, but soma has performed far better so far.

 

I did think for a while Mako was a bit pricy until the wizardry of Moss came down the pipe. That really changed everything Imo because it takes a significant amount of financial stress off the buildout of eagle mountain. My sincere hope is that they are able to build out eagle mountain without raising equity at these prices. If we get to 8 or 10 a share I may feel differently but at 5 I would hate to see equity raised.