What are you buying today?

[Viking]

Cash. It has been a great year. Time to get more defensive. Lock in gains. Back up to 30% cash. Get paid close to 5% risk free to sit in the weeds and wait and see what Mr Market pukes up next. The move higher in bond yields is what i am watching right now. How high can they go?
 

i am not turning bearish. Or bullish.

Edited September 19, 2023 by Viking

[no_free_lunch]

Bought a small 1% position in LHX.  Will like to add as I learn more.  Not without some minor issues but as usual, the issues feel priced in.  Trading at 15x analysts estimates for the year.  It's a compounder and a cannibal.

[burton@4240]

Bot me some SYBT 

[no_free_lunch]

CNR.to - Canadian railroad oligopoly, mega compounder, trading around 19x earnings albeit this years earnings are flat.  The company's record and industry dynamics speak for themselves.   It's down 15% or so which is a decent and rare opportunity.

Edited September 21, 2023 by no_free_lunch

[Lance]

Small adds to EDV, JOE and OUT.

 

New positions in LVMH and LTPZ.

[KPO]

More TRC at the close

[Paarslaars]

Little bit more PCYO

[thepupil]

I bought the ROIC 6.75% of 2028 at $98.78 / 7% yield. These are a little low in duration for my taste with a duration of 4 ish. Just a low risk 7% return. nothing more, nothing less. 

 

 

zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[Red Lion]

Just closed on a Maui condo today. I have one more real estate deal in the works and just closed my last one late July, so I’m sorry to all those with real estate, it’s probably the top as I’m piling in. 

[Castanza]

7 hours ago, Paarslaars said:

Little bit more PCYO

Same 

[fareastwarriors]

2 hours ago, RedLion said:

Just closed on a Maui condo today. I have one more real estate deal in the works and just closed my last one late July, so I’m sorry to all those with real estate, it’s probably the top as I’m piling in. 

 

Congrats!

 

 

[thepupil]

2 hours ago, RedLion said:

Just closed on a Maui condo today. I have one more real estate deal in the works and just closed my last one late July, so I’m sorry to all those with real estate, it’s probably the top as I’m piling in. 

Well that’s a hell of a lot cooler than a bond!!! Congrats!

[Red Lion]

@thepupil @fareastwarriors Thank you very much! I like to think of it as a TIPS with benefits. 

Edited September 23, 2023 by RedLion

[KPO]

TRC

[Luke]

Added to Evolution AB 

[Dinar]

27 minutes ago, Luca said:

Added to Evolution AB 

Why?  What do you think of Entain news today?  (Somewhat different business, but still)  Thank you.

[Luke]

15 minutes ago, Dinar said:

Why?  What do you think of Entain news today?  (Somewhat different business, but still)  Thank you.

I have owned it for a couple of months with a starter position, down 30% from where I bought. Building up the position, think it's a great business with decent management. Regarding regulations, I think unregulated will either stay unregulated for some time or morph into regulated markets. Business is still growing revenues 30% QoQ with increasing margins and trades at 20x earnings. Onlinecasino market continues to grow, digitalization/VR tailwinds etc. Regarding entain: 

 

“It appears a lot of the weakness is driven by sporting results, which should normalise over time.”

Jette Nygaard-Andersen, Entain’s chief executive, stressed that the gambling operator “[continued] to see good underlying growth in our online business” as well as strong full-year earnings “despite softer than expected revenue growth in Q3 and the ongoing roll-out of industry-leading safer gambling measures”.

 

https://www.ft.com/content/a0b32ffe-b602-4f84-b787-cecadb204bab

 

Industry is hated, otherwise it wouldn't trade at 20x earnings at that growth. 

 

 

 

 

Edited September 25, 2023 by Luca

[Luke]

Analyst estimates are at 1.7b earnings in 2025. With a 20x multiple thats more than 50% gain from here and one can still stay for the compounding over time. 

Edited September 25, 2023 by Luca

[Luke]

40 minutes ago, Luca said:

I have owned it for a couple of months with a starter position, down 30% from where I bought. Building up the position, think it's a great business with decent management. Regarding regulations, I think unregulated will either stay unregulated for some time or morph into regulated markets. Business is still growing revenues 30% QoQ with increasing margins and trades at 20x earnings. Onlinecasino market continues to grow, digitalization/VR tailwinds etc. Regarding entain: 

 

“It appears a lot of the weakness is driven by sporting results, which should normalise over time.”

Jette Nygaard-Andersen, Entain’s chief executive, stressed that the gambling operator “[continued] to see good underlying growth in our online business” as well as strong full-year earnings “despite softer than expected revenue growth in Q3 and the ongoing roll-out of industry-leading safer gambling measures”.

 

https://www.ft.com/content/a0b32ffe-b602-4f84-b787-cecadb204bab

 

Industry is hated, otherwise it wouldn't trade at 20x earnings at that growth. 

 

 

 

 

*YoY

[KPO]

More TRC

[jouni1]

Bought some LVMH. Not going to miss the dip once again 

[Luke]

13 minutes ago, jouni1 said:

Bought some LVMH. Not going to miss the dip once again 

Haha yeah, saw that one going down. I'm still only nibbling. 

[Lance]

New position in ARE.

 

Added to LAMR.

 

Thanks

Lance

[Spekulatius]

$CASH (rebought), a bit more BTI and a starter in $CNHI

 

Also have been adding to PRNDY / RI.PA recently.

Edited September 26, 2023 by Spekulatius

[Luke]

43 minutes ago, Spekulatius said:

and a starter in $CNHI

Really like to own this via Exor but have no deep opinion on that particular industry. Not a bad business and produces cash for exor.