Cod Liver Oil Posted May 1 Posted May 1 Fairfax India. It is an imperfect vehicle, but a cheap way to own Indian infrastructure, participate in privatization and ride the growth curve.
Saluki Posted May 2 Posted May 2 Took a couple big bites of MSCI yesterday and today and I'm at a 1% position. Added a little NTDOY.
Cod Liver Oil Posted May 2 Posted May 2 More MSGS. Could be a long wait but franchise values are increasing. Happy see progress at E, the other side of the same coin.
lnofeisone Posted May 2 Posted May 2 2 hours ago, Paarslaars said: Some Jan '26 BYON calls (25$ strike) Volatility on this one is wild. Anything you can recommend looking at to understand the sell off?
formthirteen Posted May 2 Posted May 2 More MSCI and VRSN. Price could drop further and I wouldn't care until business fundamentals change.
Paarslaars Posted May 3 Posted May 3 9 hours ago, lnofeisone said: Volatility on this one is wild. Anything you can recommend looking at to understand the sell off? Honestly I don't understand the sell off myself, that's the reason I'm buying. BTC is down quite a bit from it's ATHs a month ago so that could be it. I haven't found traffic results yet for the overstock.com website that got launched again end of march, perhaps the traffic is disappointing.
John Hjorth Posted May 3 Posted May 3 Started with small positions today in : BALB B.STO [Fastighetsbolaget Balder AB, ser. B, Göteborg, Sweden], & CAST.STO [Castellum AB, Stockholm, Sweden]. I may change my mind about them and sell them at any moment, thereby considering the buys of them errors.
Dinar Posted May 3 Posted May 3 26 minutes ago, John Hjorth said: Started with small positions today in : BALB B.STO [Fastighetsbolaget Balder AB, ser. B, Göteborg, Sweden], & CAST.STO [Castellum AB, Stockholm, Sweden]. I may change my mind about them and sell them at any moment, thereby considering the buys of them errors. Why? ty
John Hjorth Posted May 3 Posted May 3 7 minutes ago, Dinar said: Why? ty When I wrote here on CoBF about the Swedish Real Estate Crisis evolving last year, I felt confident both CAST and BALD already then were in deep trouble with regard to their financings looking forward. It seems both companies so far have steared clear of troubled and unsuccessful refinancings, triggering forced and uncontrolled massive assets sales, however it's not over yet. The effort here for my part is over time to build a modest basket of a portfolio of Scandinavian listed real estate companies with a low entry point, for the purpose of holding it for the long term.
Spekulatius Posted May 3 Posted May 3 Bought some VSTS yesterday and today. just another spinoff that runs into trouble, but uniform rental fundamentally a good business, so I think this should be fixable. High leverage (from spin) is a concern.
LC Posted May 3 Posted May 3 Vestis looks like a debt paydown story. They are doing some cost cutting which may or may not work, but I imagine the real story is paying down all the debt they are saddled with post-spin. That value will accrue to equity holders over time.
Malmqky Posted May 3 Posted May 3 Little more Valaris. Trading at ~20-25% of of replacement, new contracts really starting to rollover, committed (supposedly) to returning all FCF to shareholders...and there's lots of it. Probably should buy a basket, but I like the size and quality of fleet vs competitors and the fact VAL isn't leveraged like the others. We'll see how this works out over the next decade.
Stuart D Posted May 3 Posted May 3 42 minutes ago, Malmqky said: Little more Valaris. Trading at ~20-25% of of replacement, new contracts really starting to rollover, committed (supposedly) to returning all FCF to shareholders...and there's lots of it. Probably should buy a basket, but I like the size and quality of fleet vs competitors and the fact VAL isn't leveraged like the others. We'll see how this works out over the next decade. Agree Valaris is looking good here. Fcf starting to roll in.
Spekulatius Posted May 3 Posted May 3 2 hours ago, LC said: Vestis looks like a debt paydown story. They are doing some cost cutting which may or may not work, but I imagine the real story is paying down all the debt they are saddled with post-spin. That value will accrue to equity holders over time. VSTS was a margin improvement and debt paydown story from the spin. Now it looks again like the spinoff was oversold and my guess is that they may have to sacrifice some margin to keep the topline from falling. The CC brought new information to light that they have customer retention issues which to me sounds like a combination of service issues and pricing. This was not dixlosed before. They need to work this out to prevent the topline from imploding (which is the real risk here). At least, I am not paying a fancy multiple here and if the story works out LT, then I still think we could see a multibagger here. I think @Dinar owns the stock too and may have further insight.
Dinar Posted May 3 Posted May 3 I cut my position by roughly 80% post Q1 results in February, and I sold the rest today. I just don't think the company is analyzable today, and if we go into recession it can be a zero.
Gregmal Posted May 4 Posted May 4 4 hours ago, Malmqky said: Little more Valaris. Trading at ~20-25% of of replacement, new contracts really starting to rollover, committed (supposedly) to returning all FCF to shareholders...and there's lots of it. Probably should buy a basket, but I like the size and quality of fleet vs competitors and the fact VAL isn't leveraged like the others. We'll see how this works out over the next decade. If you’ve got a decade I like the warrants way better
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