Gregmal Posted June 16, 2022 Posted June 16, 2022 (edited) More Berkshire hard to believe it’s off almost $100 a share in a couple months on little but pants pissing about the general “market”. Love it. just took some Disney too on hole 16. Tough to tell from the golf course but seems like there’s a strong bid in the market lately around 93/94. Edited June 16, 2022 by Gregmal
Ulti Posted June 16, 2022 Posted June 16, 2022 3 minutes ago, Gregmal said: More Berkshire hard to believe it’s off almost $100 a share in a couple months on little but pants pissing about the general “market”. Love it. And I hope Buf. is feeling the same
Gregmal Posted June 16, 2022 Posted June 16, 2022 2 minutes ago, Ulti said: And I hope Buf. is feeling the same Big daddy knows what to do here. Unlike all the talking heads he’s seen and invested through whatever it is folks are currently terrified of. Probably a minor recession and good government created/government solved “inflation” crisis. It’s a Kobe to Shaq against Portland alley oop
Ulti Posted June 16, 2022 Posted June 16, 2022 Just now, Gregmal said: Big daddy knows what to do here. Unlike all the talking heads he’s seen and invested through whatever it is folks are currently terrified of. Probably a minor recession and good government created/government solved “inflation” crisis. It’s a Kobe to Shaq against Portland alley oop Ha I thought is was more like tipping your favorite girl at the strip club
Cod Liver Oil Posted June 16, 2022 Posted June 16, 2022 Buying Disney and MSGE with a little throw up in the back of my mouth.
Viking Posted June 16, 2022 Posted June 16, 2022 (edited) JPM, BAM, GOOG, AMZN, CRM, PYPL, DIS, LEVI, UA Cash is down to 45% (from 55%) Edit: added a little DOCU, SHOP at the close Edited June 16, 2022 by Viking
Mephistopheles Posted June 16, 2022 Posted June 16, 2022 Loaded up on Tenneco over the last few days (merger arb with a huge spread) Wrote a whole bunch of BRK puts which are underwater. Will buy them back and write more aggressively to be cash flow positive
Charlie Posted June 17, 2022 Posted June 17, 2022 Bought some Berkshire b shares. I think there is an increase in intrinsic value and a decrease in share price. That´s a good combination.
Longnose Posted June 17, 2022 Posted June 17, 2022 14 hours ago, Mephistopheles said: Loaded up on Tenneco over the last few days (merger arb with a huge spread) Wrote a whole bunch of BRK puts which are underwater. Will buy them back and write more aggressively to be cash flow positive How confident do you feel about the deal going through??
no_free_lunch Posted June 17, 2022 Posted June 17, 2022 (edited) JBHT - Trucking company with an edge. Their main business is intermodal, which means they shuttle containers to rail yards and move them by rail most of the way. Given rail is much cheaper energy wise they are in a strong position right now. Also have logistics business which is low capital. Excellent long term track record. There is a lot to like here. I may start a post on them later. Currently trading for around 18x PE so not crazy cheap but it has often traded 25-30x (just approximating it). It has historically grown mid double digits so your are getting close to the elusive 1 PEG. If anyone hates them speak up. Edited June 17, 2022 by no_free_lunch
modiva Posted June 17, 2022 Posted June 17, 2022 Added to EPSN. Unheard of balance sheet. No debt. 30mil cash at 20% of market cap. Generating about 30mil cash (based on annualizing recent quarter cash generated).
Spekulatius Posted June 17, 2022 Posted June 17, 2022 40 minutes ago, modiva said: Added to EPSN. Unheard of balance sheet. No debt. 30mil cash at 20% of market cap. Generating about 30mil cash (based on annualizing recent quarter cash generated). So it trades at 4x EV/ Cash flow. That's actually not that cheap for an E&P producer. What's their value add ? They are not doing any exploration and the production itself is apparently outsourced, if I understand this correctly.
Gregmal Posted June 17, 2022 Posted June 17, 2022 There is not much execution risk, they have Oklahoma space thats starting to produce well above expectation, and on top of this their core is Marcellus acreage operated by CHK. Its one of the lowest risk ways Ive found to play nat gas. You dont need a whole lot to go right here. You've currently got a couple clown funds competing to exit which is presenting a good opportunity while the company repurchases stock and sandbags guidance.
modiva Posted June 17, 2022 Posted June 17, 2022 5 minutes ago, Gregmal said: There is not much execution risk, they have Oklahoma space thats starting to produce well above expectation, and on top of this their core is Marcellus acreage operated by CHK. Its one of the lowest risk ways Ive found to play nat gas. You dont need a whole lot to go right here. You've currently got a couple clown funds competing to exit which is presenting a good opportunity while the company repurchases stock and sandbags guidance. Along with their promising assets, they have a good track record. Thanks to Greg for finding and sharing.
Mephistopheles Posted June 19, 2022 Posted June 19, 2022 On 6/17/2022 at 9:16 AM, Longnose said: How confident do you feel about the deal going through?? They’ve got a group of committed lenders so minimal financing risk. I don’t see anything on the regulatory side. There’s a risk of Apollo pulling out. I’ve owned the company for a few years I think it’s a good business to own even if it doesn’t work out. and the upside is like 30% in 6 months
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