Williams406 Posted August 9, 2023 Share Posted August 9, 2023 small adds to Altius and FRP Holdings Link to comment Share on other sites More sharing options...
Eng12345 Posted August 9, 2023 Share Posted August 9, 2023 NTDOY Link to comment Share on other sites More sharing options...
Lance Posted August 9, 2023 Share Posted August 9, 2023 STR Thanks Lance Link to comment Share on other sites More sharing options...
thowed Posted August 9, 2023 Share Posted August 9, 2023 1 hour ago, Lance said: STR Thanks Lance I struggled with management (as a Brigham holder) & the raise is questionable? I continue to prefer DMLP or BSM (the time to add to TPL seems to have passed). But I get it's down today. Link to comment Share on other sites More sharing options...
Gregmal Posted August 9, 2023 Share Posted August 9, 2023 Added a good slug of Jan MGK 210 puts as an insurance policy on Wiley Coyote. Link to comment Share on other sites More sharing options...
dipod Posted August 9, 2023 Share Posted August 9, 2023 T Bills expiring in 2 months. Have some other positions but good to have easily accessible dry powder in case something breaks. Link to comment Share on other sites More sharing options...
brobro777 Posted August 9, 2023 Share Posted August 9, 2023 1 hour ago, Gregmal said: Added a good slug of Jan MGK 210 puts as an insurance policy on Wiley Coyote. Haha the Roadrunner cartoons were great I'll probably lose money on my QQQ put options but maybe I'll get lucky and big cap tech will crack Link to comment Share on other sites More sharing options...
Gregmal Posted August 9, 2023 Share Posted August 9, 2023 28 minutes ago, brobro777 said: Haha the Roadrunner cartoons were great I'll probably lose money on my QQQ put options but maybe I'll get lucky and big cap tech will crack They’re hedges, the only problem with them losing money is if you aren’t making money. When they work I expect my broader portfolio to be declining, and when they work I structure them so they should pay out multiples of the capital I commit which allows me to then redeploy it at much lower levels. The $210s should 5x on a 20% correction. Link to comment Share on other sites More sharing options...
changegonnacome Posted August 9, 2023 Share Posted August 9, 2023 HSW Link to comment Share on other sites More sharing options...
brobro777 Posted August 9, 2023 Share Posted August 9, 2023 2 hours ago, Gregmal said: They’re hedges, the only problem with them losing money is if you aren’t making money. When they work I expect my broader portfolio to be declining, and when they work I structure them so they should pay out multiples of the capital I commit which allows me to then redeploy it at much lower levels. The $210s should 5x on a 20% correction. Yea yea, just keep posting so I can continue to make money off your ideas Just keep going bro Link to comment Share on other sites More sharing options...
Cod Liver Oil Posted August 10, 2023 Share Posted August 10, 2023 I begged @Dinar to talk me off the ledge regarding Nintendo. The next day I found this in a used book I bought on Amazon: I'm fine. 1 Link to comment Share on other sites More sharing options...
changegonnacome Posted August 10, 2023 Share Posted August 10, 2023 HSW Link to comment Share on other sites More sharing options...
Luca Posted August 10, 2023 Share Posted August 10, 2023 55 minutes ago, Cod Liver Oil said: I begged @Dinar to talk me off the ledge regarding Nintendo. The next day I found this in a used book I bought on Amazon: I'm fine. Pretty bullish sign for all of us Link to comment Share on other sites More sharing options...
Whensthepaintdry? Posted August 11, 2023 Share Posted August 11, 2023 Added to BOC under 18. Link to comment Share on other sites More sharing options...
Spekulatius Posted August 11, 2023 Share Posted August 11, 2023 2 hours ago, Whensthepaintdry? said: Added to BOC under 18. How about $OUT if you like the billboard business. You get a big dividend check as well. Link to comment Share on other sites More sharing options...
Whensthepaintdry? Posted August 11, 2023 Share Posted August 11, 2023 38 minutes ago, Spekulatius said: How about $OUT if you like the billboard business. You get a big dividend check as well. I’m not going to kid myself, I am a sucker for the story on this one. At the current price I’m willing to add. The dilution is worrisome, but if book value continues to go up I can live with it. Link to comment Share on other sites More sharing options...
cubsfan Posted August 11, 2023 Share Posted August 11, 2023 ^^ No body like the dilution, but it's pretty insignificant if you are building the right business. The fiber subscriber growth looks pretty damn good - so I really do think they are building the right business. Link to comment Share on other sites More sharing options...
Saluki Posted August 11, 2023 Share Posted August 11, 2023 Picked up some shares of NTDOY. Link to comment Share on other sites More sharing options...
CorpRaider Posted August 11, 2023 Share Posted August 11, 2023 (edited) 2 hours ago, Spekulatius said: How about $OUT if you like the billboard business. You get a big dividend check as well. Is it ok? I'm a full on Lamar bro over here. I did a little work on OUT a few years ago. I need to update that, if the price is right...and JCDecaux. Reckon they will distress buy CCO at some point. I'm going to buy some BOC if it gets down below trailing book again....but not for the billboard bidness (and way less than CMCSA and LAMR). What dilution you talking about, the carry? I don't really mind the ATM issuance above book since there is zero chance I would pay a big premium to book. Edited August 11, 2023 by CorpRaider Link to comment Share on other sites More sharing options...
Spekulatius Posted August 12, 2023 Share Posted August 12, 2023 (edited) I would buy BOC, but don’t like the hedge fund like incentive structure. ATM issues are OK at the right price (above NAV) and I think BOC financed themselves well. OUT is a reversal to the mean play, but quite frankly, I haven’t looked at it very deeply. I just noticed it when I poked a round LAMR. Edited August 12, 2023 by Spekulatius Link to comment Share on other sites More sharing options...
ValueMaven Posted August 13, 2023 Share Posted August 13, 2023 Has anyone looked at the JNJ-KVUE swap? It's an interesting one. You buy 99 shares of JNJ and swap it into KVUE at a meaningful discount. It's about a 17% return in 2 weeks time. If you buy 100 shares you want be guaranteed a full swap, and if you buy 99 shares and don't allocate the full 99 shares, then you will lose out as well. KVUE also has sold off and seems cheap to me given its business and moat. Hedge Funds cant do this (99 share issue) and most retail is unaware of the transaction. Link to comment Share on other sites More sharing options...
Castanza Posted August 14, 2023 Share Posted August 14, 2023 7 hours ago, ValueMaven said: Has anyone looked at the JNJ-KVUE swap? It's an interesting one. You buy 99 shares of JNJ and swap it into KVUE at a meaningful discount. It's about a 17% return in 2 weeks time. If you buy 100 shares you want be guaranteed a full swap, and if you buy 99 shares and don't allocate the full 99 shares, then you will lose out as well. KVUE also has sold off and seems cheap to me given its business and moat. Hedge Funds cant do this (99 share issue) and most retail is unaware of the transaction. Interesting situation Another one I stumbled upon courtesy of Andrew Walker is the RideQ situation with Foxconn. Shares trading around $3ish and they filed for bankruptcy. Interesting aspect is they have no debt and a lot of cash on hand. To top it off they are suing Foxconn for basically pulling the rug out from under their business and causing permanent damages. Will be interesting. The kicker is there is a 3% cap on share ownership so a lot of the big guys can’t touch this. According to Andrew there is a lot of cash per share that could give quite. A bit of upside pending the suit. Haven’t checked any of the math here and I’m always hesitant of the suit working out, but either way I guess there are some interested parties in the assets of RideQ. MSFT ATVI discount to buyout price looks interesting as well. Seems like free money on the table (knock on wood). Link to comment Share on other sites More sharing options...
wisowis Posted August 14, 2023 Share Posted August 14, 2023 8 hours ago, ValueMaven said: Has anyone looked at the JNJ-KVUE swap? It's an interesting one. You buy 99 shares of JNJ and swap it into KVUE at a meaningful discount. It's about a 17% return in 2 weeks time. If you buy 100 shares you want be guaranteed a full swap, and if you buy 99 shares and don't allocate the full 99 shares, then you will lose out as well. KVUE also has sold off and seems cheap to me given its business and moat. Hedge Funds cant do this (99 share issue) and most retail is unaware of the transaction. Interesting idea, but how do you get 17%? As of Friday, JNJ shares closed at $173.85, KVUE closed at $23.72. Indicative ratio (as of Friday) was 7.9334x (per https://www.envisionreports.com/jnjseparation/2023/JNJSeparationaug11/index.html?voting=true). That gives me an 8.2% return, unless I am missing something? Link to comment Share on other sites More sharing options...
lnofeisone Posted August 14, 2023 Share Posted August 14, 2023 8 hours ago, ValueMaven said: Has anyone looked at the JNJ-KVUE swap? It's an interesting one. You buy 99 shares of JNJ and swap it into KVUE at a meaningful discount. It's about a 17% return in 2 weeks time. If you buy 100 shares you want be guaranteed a full swap, and if you buy 99 shares and don't allocate the full 99 shares, then you will lose out as well. KVUE also has sold off and seems cheap to me given its business and moat. Hedge Funds cant do this (99 share issue) and most retail is unaware of the transaction. I saw this popped up on Barron's and meant to look at it further. thanks for the reminder! Link to comment Share on other sites More sharing options...
UK Posted August 14, 2023 Share Posted August 14, 2023 11 hours ago, ValueMaven said: Has anyone looked at the JNJ-KVUE swap? It's an interesting one. You buy 99 shares of JNJ and swap it into KVUE at a meaningful discount. It's about a 17% return in 2 weeks time. If you buy 100 shares you want be guaranteed a full swap, and if you buy 99 shares and don't allocate the full 99 shares, then you will lose out as well. KVUE also has sold off and seems cheap to me given its business and moat. Hedge Funds cant do this (99 share issue) and most retail is unaware of the transaction. Thanks! https://www.barrons.com/articles/jnj-kenvue-stock-price-odd-lot-rule-96aa9b74 Also: One potential positive is that arbitragers have been buying J&J and selling short Kenvue to take advantage of the 7.5% spread. This has depressed Kenvue by about 3% since the deal was announced in July while J&J is up about 2%. This could mean that Kenvue may appreciate once the deal is done and that trade is unwound. When General Electric did an exchange offer for Synchrony Financial in 2015, GE stock outperformed before the deal and Synchrony outperformed GE immediately thereafter. And: https://finance.yahoo.com/news/kenvue-set-join-p-500-224200805.html Link to comment Share on other sites More sharing options...
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