What are you buying today?

[Saluki]

18 minutes ago, Eldad said:

I bought more CPRT as well. 
 

As far as POOL, I get it, when I first started looking at it my bias was thinking about it like a boat or RV company. But the installed base of pools in the US only goes up. It even went up in 2008-2010. It would be nice if someone at BRK could call them and give them the Tim Cook buyback talk. The share count is always going down but they should ramp it up now for sure. 

 

That's not 100% true, but close. When banks started repossessing tons of houses in Florida and Arizona, they didn't want the continued cost of maintaining the pools, and the buyers weren't bidding extra for them, so they filled them in (And made holes in the bottom for drainage). That makes it even harder to put a pool back in if you want to later. I know because my cousin bought a house and wanted to put in a pool and they told him that there already was one beneath the dirt, and they new pool would cost X but they couldn't start until they dug up and removed the old pool which would cost Y. 

 

I looked at this and Leslie's and SWIM a while back. My thought was that in a downturn, people would service their own pools, so a DIY place like Leslie's might do better, but why would people use them instead of Amazon? With POOL, the customers are businesses, so I think the moat is better, and might suffer a little in a downturn if people go to DIY to save money, but ultimately its a good industrial supplier. 

[Eldad]

4 minutes ago, Saluki said:

 

That's not 100% true, but close. When banks started repossessing tons of houses in Florida and Arizona, they didn't want the continued cost of maintaining the pools, and the buyers weren't bidding extra for them, so they filled them in (And made holes in the bottom for drainage). That makes it even harder to put a pool back in if you want to later. I know because my cousin bought a house and wanted to put in a pool and they told him that there already was one beneath the dirt, and they new pool would cost X but they couldn't start until they dug up and removed the old pool which would cost Y. 

 

I looked at this and Leslie's and SWIM a while back. My thought was that in a downturn, people would service their own pools, so a DIY place like Leslie's might do better, but why would people use them instead of Amazon? With POOL, the customers are businesses, so I think the moat is better, and might suffer a little in a downturn if people go to DIY to save money, but ultimately its a good industrial supplier. 

Yeah definitely lost some pools but the  total number went up even in those years according to the numbers I have seen. 
 

POOL has been rolling out a lot of Pinch A Penny retail stores in recent years that service the DIY market. 
 

I also like that they seem to be following the WSO model where they make their app for the local pool guy do everything for them as well as sell them new product. 

[Malmqky]

Half what remains of my HCC position to buy some more CSU

[Longnose]

More ADBE

[Castanza]

HEI/A

[Spekulatius]

20 hours ago, tnathan said:

ABM

I was looking at that one too. I sort of don’t know why it has declined that much. Yes there is some margin pressure  but still. Seems more like disinterest than any fundamental reasons.

 

I think I am going to buy some too. AI is not going to disintermediate that one.

[dipod]

NVO common stock.

[valueventures]

Bought more MAKOF

[sholland]

Small trading sardine in Sable Offshore Corp.

Production restart happened over the weekend. 

[DooDiligence]

https://www.independent.com/2026/03/15/state-parks-to-sable-oil-pick-up-your-pipeline-and-walk/

[DooDiligence]

https://s202.q4cdn.com/300304768/files/doc_news/2025/10/OSFM-Letter-to-Sable.pdf

[DooDiligence]

What are the odds Sable makes a sale by April Fools Day?

 

https://www.newspress.com/2026/03/15/bob-sulnick-sable-adopts-trumpism-in-effort-to-secure-santa-barbara-oil/

[KPO]

TAP

[dipod]

LLY calls as a trading position. Oral GLP-1 (orfoglipron) likely to receive FDA approval soon.

[Gregmal]

More than tripled Amrize position. Now contending with MGM for entry into the core position space and top 5. 

[Malmqky]

Joined you gents in buying Amrize

Edited March 16 by Malmqky

[John Hjorth]

A bit more Novo Nordisk A/S, NOVO B.CPH [underexposure in my own accounts, compared to the gang as a whole],

 

- - - o 0 o - - -

 

Futhermore, started a basket of Canadian banks today :

 

RY.TO - Royal Bank of Canada,

TD.TO - Toronto Dominion Bank,

BNS.TO - Bank of Nova Scotia,

CM.TO - Canadian Imperial Bank of Commerce, &

NA.TO - National Bank of Canada.

 

Not trakers, more, but starters positions,

 

Basically constructed with component weight according to market cap by now. Eager to get to know them better over time, hopefully for the long term to hold! But also with the intent to stay flexible, and ready to abort, any time, if I end up not to like the odor in the bakery later!

 

Not, the 'usual 'Stingy John' bids', but had to get out of the starting block, after glaring at them, for years!

Edited March 17 by John Hjorth

[bizaro86]

59 minutes ago, John Hjorth said:

A bit more Novo Nordisk A/S, NOVO B.CPH [underexposure in my own accounts, compared to the gang as a whole],

 

- - - o 0 o - - -

 

Futhermore, started a basket of Canadian banks today :

 

RY.TO - Royal Bank of Canada,

TD.TO - Toronto Dominion Bank,

BNS.TO - Bank of Nova Scotia,

CM.TO - Canadian Imperial Bank of Commerce, &

NA.TO - National Bank of Canada.

 

Not trakers, more, but starters positions,

 

Basically constructed with component weight according to market cap by now. Eager to get to know them better over time, hopefully for the long term to hold! But also with the intent to stay flexible, and ready to abort, any time, if I end up not to like the odor in the bakery later!

 

Not, the 'usual 'Stingy John' bids', but had to get out of the starting block, after glaring at them, for years!

 

Asking without judgement why you selected National Bank instead of Bank of Montreal?

[John Hjorth]

5 minutes ago, bizaro86 said:

Asking without judgement why you selected National Bank instead of Bank of Montreal?

 

Thank you, @bizaro86,

 

That's a very good question.

 

I'm unable to reply on a qualified level, as to why I can't buy the Canadian BMO ticker at my investment bank, and I don't know why. I will follow up on it, and get back to you, here, in this topic.

 

BMO should have been in the basket, for sure. I may add that later, when I've found a solution as to why I by now can't buy the Canadian ticker.

 

Thank you for being sharp here! 

[frommi]

Aren't you afraid that maybe someday the canadian RE bubble implodes? They also all trade at peak valuations?

[John Hjorth]

21 minutes ago, frommi said:

Aren't you afraid that maybe someday the canadian RE bubble implodes? They also all trade at peak valuations?

 

@frommi,

 

This fear has been around here on CofB&F as long as I've been around here. No, I'm not. This is a starter position right  now, but as a posiion, this, the whole basket viewed as one, is not a tracker size. It's bought by the use of proceeds from selling all BAC and a small C legacy position, that arrived by change in the gang in December 2025, sis in law joining the gang then.

[ourkid8]

1 hour ago, John Hjorth said:

 

@frommi,

 

This fear has been around here on CofB&F as long as I've been around here. No, I'm not. This is a starter position right  now, but as a posiion, this, the whole basket viewed as one, is not a tracker size. It's bought by the use of proceeds from selling all BAC and a small C legacy position, that arrived by change in the gang in December 2025, sis in law joining the gang then.

 

Do you have any questions about Canadian banks, particularly RBC?

 

These are exceptional businesses operating in a stable oligopoly with strong barriers to entry and consistent profitability.

 

Regarding RY, it's currently trading near the upper end of its historical valuation range. However, there have been cracks in the Canadian economy - unemployment rate increasing and the economy potentially going into a recession. 

 

I previously held a substantial position in RY but sold it last year. I have built a position in CSU with the cash during the recent selloff.  

[John Hjorth]

30 minutes ago, ourkid8 said:

Do you have any questions about Canadian banks, particularly RBC?

 

These are exceptional businesses operating in a stable oligopoly with strong barriers to entry and consistent profitability.

 

Regarding RY, it's currently trading near the upper end of its historical valuation range. However, there have been cracks in the Canadian economy - unemployment rate increasing and the economy potentially going into a recession. 

 

I previously held a substantial position in RY but sold it last year. I have built a position in CSU with the cash during the recent selloff.  

 

@ourkid8,

 

Not so far, thank you.

 

Thank you for for sharing your experience and assessments. Timing may be totally wrong with this. I need to own them, to keep my interest intact, so I actually really start messing around with them, to get to know them.

 

That's also why I opted to revive the 'Canadian Banks' topic started many years ago by @Viking.

 

I have always wondered why the coverage of them here on CofB&F has been , uhmm ... sporadic, I would calll it.

 

Next, I'll check if we have separate topics for each of them in the Investment Ideas forum. I don't think that is the case, by recollection.

[Jan]

adding to gold miners as trades: ORLA, HYMC, MKO, AEM

betting that gold will go up again and top its ATH

[valueventures]

46 minutes ago, Jan said:

adding to gold miners as trades: ORLA, HYMC, MKO, AEM

betting that gold will go up again and top its ATH

Do you have a favorite among your gold miners? Of this group, I have exposure to MKO.