What are you buying today?

[Red Lion]

Got a partial fill on some July SPY bear spreads at $395/390 for $1.10

[wisowis]

DHR

[Luke]

Added to FFH

[Dave86ch]

14 hours ago, sleepydragon said:

This is crazy. Chinese stocks must be one of the most hated investments now.
or someone is selling regardless of the price—imo feel like some brokers have a big short put position and need to hedge regardless of the price.

reminds me in 2008 how hated moody’s were and even Buffett sold some.

 

 

I don't delude myself into thinking there aren't risks involved, but yes, I am patient. If I don't make bold decisions when opportunities arise, the years spent learning and writing about investing will have been wasted.

 

Added to Bitcoin yesterday.

Edited April 26, 2023 by Dave86ch

[Luke]

Sold some more Meta and added to FFH

[Jaygo]

On 4/22/2023 at 9:09 AM, Jaygo said:

GGG. Graco. Not cheap and possibly overearning. Hands down the best of the fluid pumping tech businesses. You buy graco when you demand the best and most reliable. In the contractor segment there is literally no close competitor in quality. Rookies and weekend warriors buy Titan and Wagner but it’s junk once you own a graco unit. 

 

Price paid is too high but I need to anchor and I haven’t bought it since the 30s about six years ago. If it takes a beating I will certainly average down. 
 

had some funds come in and wanted to place it somewhere. 
 

 

 

Graco with nice earnings today. Revenue up 7 % year over year. Earnings up 22% year over year. Gave cautious guidance due to uncertainty in macro. Also bought in about 3 million shares in the full year.

 

Surprised by the process sales being so robust. Maybe a hangover from new factory completions slowed down due to covid. Process segment sells fluid applicators like glue pumps for apparel, flow metering equipment, and sprayers for non-nutritive cereal varnishes and such.

 

 

 

 

[Red Lion]

Added to my July 21 395/390 SPY bear spread. If the SPY drops 5% by July, this will return about 400%. I've been most successful hedging with bear spreads as they often tend to be profitable even if the stock/index drops only a modest amount versus going long puts which need a bigger move in the underlying to profit. 

[frommi]

@RedLion Yes, good idea. My problem is that this has tax implications because you take a huge loss on one leg. Germany is a weird land when it comes to taxes on capital gains and you can only deduct a fixed sum of option losses.

 

Finalized my longer term put positions (dec23) on DAX,MDAX and SPY, which now make up 6% of my portfolio. Should be enough to protect against a large drop.

Also bought more BATS.

[Red Lion]

3 hours ago, frommi said:

@RedLion Yes, good idea. My problem is that this has tax implications because you take a huge loss on one leg. Germany is a weird land when it comes to taxes on capital gains and you can only deduct a fixed sum of option losses.

 

Finalized my longer term put positions (dec23) on DAX,MDAX and SPY, which now make up 6% of my portfolio. Should be enough to protect against a large drop.

Also bought more BATS.

 

These are not very tax efficient for me either, if they're profitable then I get taxed on short term gains, but at least I can write off the net, so if they end up losing money I can take that as a short term loss. Overall I ended up having significant short term hedging gains last year by rolling over 30-60 day bear spreads. The taxes suck, but at least I managed not to lose money even though my portfolio wasn't positioned particularly right (e.g. concentrated perfectly timed portfolio in FFH and META ala @Parsad) 

 

This year haven't had any hedges on until the last two weeks, and I've built up a large position in ITM and OTM BAM puts and BAM and SPY bear spreads. I've been thinking about selling my BAM OTM puts ($30 puts) and rolling the whole position into ITM bear spreads on BAM. 

[dipod]

June 2023 $400 SPY puts

[Ross812]

Sold half of my Meta shares today and added quite a bit to Fairfax and Deutsche Telekom.

[Luke]

I doubled my BN Position and sold some Micron and Amazon for it

[DooDiligence]

increased DPZ by 20ish % with some NVO funds

[Saluki]

Added some NETI and CPNG. 

[jfan]

Ffh

[Saluki]

Sold a bit of junk and bought some Seritage preferred (SRG-PA), STNG, VTS, OXY

[Ross812]

Added to USB and CASH.

[lnofeisone]

Reloaded VTS and added across all banks that contributed the $30B to FRC. Bought HQI. 

[treasurehunt]

Bought some more USB

[benchmark]

Bought some more Google and Fairfax

[Luke]

Trimmed more Meta for BN

[Malmqky]

FHN. I expect TD to go through with the deal, albeit at a lower price.

[Mephistopheles]

21 minutes ago, Malmqky said:

FHN. I expect TD to go through with the deal, albeit at a lower price.

Well they’re waiting on regulatory approval (which given the climate would be stupid not to approve). But regulators are stupid as we’ve seen.

 

It’s not expected they’ll approve the deal by the time TD is allowed to walk away, which is in the next few weeks. FHN and TD are negotiating terms to extend the deadline but like you said, it may be at a lower price.

 

Personally I feel there are better risk/rewards in the industry.

[Value_Added]

GLDD

 

Bid market is opening, costs are under control.  Next couple of years look bright.

[Malmqky]

3 hours ago, Mephistopheles said:

Well they’re waiting on regulatory approval (which given the climate would be stupid not to approve). But regulators are stupid as we’ve seen.

 

It’s not expected they’ll approve the deal by the time TD is allowed to walk away, which is in the next few weeks. FHN and TD are negotiating terms to extend the deadline but like you said, it may be at a lower price.

 

Personally I feel there are better risk/rewards in the industry.

 

Upside is ~ 30%, definitely lower than I'd like. Downside doesn't seem too bad however, so the risk/reward skew seems *ok* to me.

 

Even if the deal is pushed back yet again, my thinking is:

 

• TD wants the assets
• This may be TD's last chance to get a deal done in the US for a while assuming Biden gets another term
• Like you said, its stupid for regulators not to approve it

 

This set-up makes me believe some kind of sale is going to happen within the next few months here, hopefully in the $22-25 per share range.

 

EDIT: Great timing on this one lol

Edited May 3, 2023 by Malmqky