what are you selling today?

[sleepydragon]

trimmed CASH 

[dipod]

Sold 1 week cash secured puts on CVS ($69). Cheap stock, buybacks, reducing debt, and growing revenues. Will study this some more. Might as well get a bigger discount if assigned.

Edited July 7, 2023 by dipod

[Red Lion]

Sold 1/3 of everything in my stock portfolio today to raise cash for a private real estate transaction. These aren't my least favorite holdings or anything of the sort, but I was trying to avoid short term gains as much as possible. 

 

I ended up selling my entire positions in BN/BRKB/KKR/ALX/BTI/SU/MQG. I think they all have upside, I hate to see them go, and hopefully I'm able to get my cash back out of this deal and buy back in later. I also trimmed but kept most of my positions in APO/BX. 

 

Also sold all my T-bills except the one maturing tomorrow. 

Edited July 10, 2023 by RedLion

[John Hjorth]

@RedLion,

 

Are you simply shiftning a part of your invested capital to another [non-listed] asset class, or are you buying a new home? If it's the last alternative, congratulations!

[Red Lion]

32 minutes ago, John Hjorth said:

@RedLion,

 

Are you simply shiftning a part of your invested capital to another [non-listed] asset class, or are you buying a new home? If it's the last alternative, congratulations!

I will post more details after I close, but this is a value add property. Two of parcels, one decrepit old farmhouse with a full daylight basement and structure in good condition, this is going to get completely redone with roof, plumbing, electrical, stucco, new kitchen, add a bathroom and finish the basement to turn the main home into a 3/2. 
 

There are other buildings on the property that I think add significant value if put to their highest and best use either as rentals (machine shop, barn, guest house, and covered equipment or boat parking). 
 

There’s also over 30 acres of prime grade 1 farm soils and an ag well which give the potential for ag rental income or possibly even an ag business like an orchard or vineyard. 
 

Due to the current condition of the property it’s going to be tough to impossible to get a normal mortgage and insurance until I do the renovations on the home and barn. I wanted to make an attractive offer as there were several others, so I’m buying it all cash trying to refinance after renovations. Including my project budget, this is going to be about 40% of my net worth and I already have a lot tied up in a closely held corporation. 
 

I’m hoping to buy these positions back after pulling cash out (or flipping one or both parcels) if the prices don’t run away on me. 

[John Hjorth]

I wish you good luck with it all, @RedLion! It reads interesting, with a lot of potential! Thank you for sharing.

[Xerxes]

Congrats @RedLion
you got lots of hands on work but that is the fun part !

[Gregmal]

Yea we’ve talked privately but publicly, congrats!
 

That’s the type of optionality that is unmatched by any other asset class. 

[Ulti]

I have a buddy that did the same thing in a Midwest state…. Working farm for several years and is close enough and a pretty enough piece of property to convert it to an event destination/ weddings/ shows/ events etc…. He did this this summer and will be interested in how successful he’ll be

[Paarslaars]

2 hours ago, RedLion said:

I ended up selling my entire positions in BN/BRKB/KKR/ALX/BTI/SU/MQG. I think they all have upside, I hate to see them go, and hopefully I'm able to get my cash back out of this deal and buy back in later. I also trimmed but kept most of my positions in APO/BX. 

 

Why the preference for APO/BX over KKR?

[Red Lion]

10 minutes ago, Paarslaars said:

 

Why the preference for APO/BX over KKR?

In a vacuum I still would maintain equal weight, this was mostly a tax decision and also a risk management play on interest rate sensitivity. I have some shares of KKR at big long term gains but most of them were close to the current price without much short term gains like I had with BX/APO. 
 

I plan to buyback all these securities but honestly KKR is the first on my list. I still see this as a $100 stock on the other side of this business cycle.  
 

Since I’m putting 40% of my net worth into this land deal my interest rate sensitivity is dramatically increasing. APO/BX are probably a bit more resilient to higher interest rates. 
 

 

[Castanza]

Trimmed about half my position in VTS this morning 

[dipod]

Sold cash secured puts on Cigna expiring this Friday. Decent premiums given the huge drop today.

[Saluki]

Sold a few META shares in retirement account and bought a little STNG with it.   My finger was hovering over VTS in my  retirement account and would've sold some like @Castanza and bought more OXY if it was $58, but unfortunately they tend to run up together. 

[Ballinvarosig Investors]

Have been dumping a few things, one of which was brk.b.

 

History says it's trading at a very expensive range when looking at it from a PB basis. Hoping to get a chance to buy back in at the 290 level.

[Castanza]

11 minutes ago, Saluki said:

Sold a few META shares in retirement account and bought a little STNG with it.   My finger was hovering over VTS in my  retirement account and would've sold some like @Castanza and bought more OXY if it was $58, but unfortunately they tend to run up together. 

 

Trimmed another 25% today....we'll see what happens

[sleepydragon]

Sold CASH yesterday and then today it opened 5% higher… 

also sold WRB and CKHUY

 

[sleepydragon]

1 minute ago, sleepydragon said:

Sold CASH yesterday and then today it opened 5% higher… 

also sold WRB and CKHUY

 

Also moved 529 and 401k into the “conservative portfolio” option, which is “mostly short term bonds and high quality corporate bonds “

[Castanza]

21 hours ago, sleepydragon said:

Sold CASH yesterday and then today it opened 5% higher… 

also sold WRB and CKHUY

 

 

What made you want to sell? I'm waiting on that buyback report come next earnings call. 

[Castanza]

Trimmed MANU 50%.....figured a 30% gain is good enough to take some off the table. Looks like the Saudi's are pursuing other teams as well. Who knows if that could spiral into this deal falling through or souring the view of the Glazers on giving the Saudi's the reigns. 

[formthirteen]

VNO-PM

[sleepydragon]

51 minutes ago, Castanza said:

 

What made you want to sell? I'm waiting on that buyback report come next earnings call. 

My wife has told me, if she had bought everything I had sold, we would have retired by now.

I seems to have a problem to sit on winnings and get paranoid. 

 

For CASH, I worry if we do get a recession, people will withdraw their gift card balances (or stop giving out gift cards) and those loans to small companies will go bad. It's one of the more economic sensitive stock in my portfolio, and I had a margin debt in my brokerage account (until yesterday).

 

[sleepydragon]

1 minute ago, sleepydragon said:

My wife has told me, if she had bought everything I had sold, we would have retired by now.

I seems to have a problem to sit on winnings and get paranoid. 

 

For CASH, I worry if we do get a recession, people will withdraw their gift card balances (or stop giving out gift cards) and those loans to small companies will go bad. It's one of the more economic sensitive stock in my portfolio, and I had a margin debt in my brokerage account (until yesterday).

 

 

One thing good came out of these margin trades of mine was I made back half of my BABA lose in 2023

[Xerxes]

Oh God. Give me one more bear market, and I promise to buy the dip. 

[Red Lion]

1 hour ago, formthirteen said:

VNO-PM

 

I've been thinking of letting go in my retirement account. I was fortunate enough to build a pretty big position with a cost basis just under $12 not very long ago at all, sometimes we get lucky on timing. But now I'm waiting around for 10 months until I have a long term gain.