what are you selling today?

[Ross812]

Trimmed HQI back to a 5% position. Back up to 15% cash.

[Ross812]

Sold ITM options on my MSGE position. I've been in and out of this for a while, but I really don't like these "secret" asset type investments.  Show me the money!

[Ross812]

Trimmed ADSK and GOOGL.

[Red Lion]

Sold some just otm calls on BX and GOOGL for the earliest January expiration. 

[Paarslaars]

Sold crypto ETN (automatic forced selling, apparently no longer legal to offer this in Belgium?)

[ValueArb]

YELLQ. It's up 250% in a few weeks, and I no longer have a great deal of confidence the risk/reward is in my favor enough to offer a big margin of safety.

 

[scorpioncapital]

anything with a p/fcf over 40 for sure.

 

[Malmqky]

3 minutes ago, ValueArb said:

YELLQ. It's up 250% in a few weeks, and I no longer have a great deal of confidence the risk/reward is in my favor enough to offer a big margin of safety.

 

Great work!

[sleepydragon]

4 hours ago, ValueArb said:

YELLQ. It's up 250% in a few weeks, and I no longer have a great deal of confidence the risk/reward is in my favor enough to offer a big margin of safety.

 

cheer!

I am still holding! I think they have a court date in Feb (I need to dig a bit more)

[Paarslaars]

Slowly reducing my august JOE calls.

 

Loaded up on these 2 months ago, already up 100% and now the biggest position in my portfolio... Bit more than I am comfortable with. 

[ValueArb]

23 hours ago, Malmqky said:

Great work!

 

Was actually a terrible outcome. Position was tiny because I was way too slow to do my homework, and by the time I did it price was too high to build a large position. Its one of those wins that exposes me for a poor process.

[sleepydragon]

14 minutes ago, ValueArb said:

 

Was actually a terrible outcome. Position was tiny because I was way too slow to do my homework, and by the time I did it price was too high to build a large position. Its one of those wins that exposes me for a poor process.

I am tempted to buy more. Although the stock price is so much higher than a few months ago, but new information such as the prices they are getting in auctions didn’t come in till early December. Price is higher but uncertainty is lower. Also, yesterday , someone (seems a real estate focused hedge fund) bought 5% of it, which is 20% of available float. This reminds me many years ago of LVS (las Vegas sands). It went down to $1. I bought at $2 and then $4, and sold at $7, and the stock eventually went to $40. (Yellow is of course has lower upside because it’s a liquidation..)

Edited December 28, 2023 by sleepydragon

[ValueArb]

Trying an AMC dine in experience and it makes me want to short them. Worst dine in experience ever at a theatre. You have to order on a touch screen the lobby, which crashes occasionally and loses your order so you have to start over. Then a stoned employee comes to your seat with some of your drinks, no straws and never brings the missing drinks. the guy who delivers food can’t help you with drinks. 
 

No call buttons to get help. And $8 for a Coke, or $7 for a water.

 

how many billions did they suck out of retail investors and they can’t use it to provide a minimally acceptable experience. 

Edited December 31, 2023 by ValueArb

[DooDiligence]

4 hours ago, ValueArb said:

Trying an AMC dine in experience and it makes me want to short them. Worst dine in experience ever at a theatre. You have to order on a touch screen the lobby, which crashes occasionally and loses your order so you have to start over. Then a stoned employee comes to your seat with some of your drinks, no straws and never brings the missing drinks. the guy who delivers food can’t help you with drinks. 
 

No call buttons to get help. And $8 for a Coke, or $7 for a water.

 

how many billions did they suck out of retail investors and they can’t use it to provide a minimally acceptable experience. 

 

Whoda' thought AMC could screw this up?

 

I went to this place in Mobile, AL and it was smashing.

 

https://www.nexuscinemadining.com

 

also went to one of Mark Cuban's Landmark Theatres in Coral Gables and thoroughly enjoyed a truly lousy movie because the seats were so comfortable and the sound was perfect. Also had tasty raspberry Mojitos!

[rkbabang]

Yes that is surprising that AMC messed it up so badly.  My wife and I go to this place sometimes 

 

https://www.chunkys.com/movie-theater/chunkysmanchester

 

My son and his friends (in there 20s) go there occasionally too.  The movies are sometimes older movies or local movies, but it’s sometimes nice to see something on the big screen you might have missed when it was in theaters originally, and they have new movies as well.  The seats are comfortable with large tables, the beer and burgers are good, and the service is excellent.  Over priced for sure, but you always have a good time.

Edited December 31, 2023 by rkbabang

[ValueArb]

15 hours ago, DooDiligence said:

 

Whoda' thought AMC could screw this up?

 

I went to this place in Mobile, AL and it was smashing.

 

https://www.nexuscinemadining.com

 

also went to one of Mark Cuban's Landmark Theatres in Coral Gables and thoroughly enjoyed a truly lousy movie because the seats were so comfortable and the sound was perfect. Also had tasty raspberry Mojitos!

 

5 hours ago, rkbabang said:

Yes that is surprising that AMC messed it up so badly.  My wife and I go to this place sometimes 

 

https://www.chunkys.com/movie-theater/chunkysmanchester

 

My son and his friends (in there 20s) go there occasionally too.  The movies are sometimes older movies or local movies, but it’s sometimes nice to see something on the big screen you might have missed when it was in theaters originally, and they have new movies as well.  The seats are comfortable with large tables, the beer and burgers are good, and the service is excellent.  Over priced for sure, but you always have a good time.

 

Turns out that some of the AMC menu is serve yourself, there are refrigerators full of water and candy displays that you are supposed to just grab from after paying from the touchscreen. But not only does the touchscreen not tell you this, it asks for your theatre and seat numbers telling you it will be delivered. Super confusing, and one other nit, no reclining seats.

The dine in model has to be very costly, as it requires a lot of labor to provide service to your seat. I’ve noticed existing chains (roadhouse, touchstar) that I frequent have cut back on menu size over time. But they still offer wait service and call buttons. 

So I get why AMC would want to do more self serve and not provide wait staff. But it didn’t make AMC food any cheaper, burgers were $15+. Maybe this is too new and they haven’t developed the right signage, as I left I noticed they had someone working the touchscreen lines to help people. And the food was good. 
 

If I was CEO of AMC I’d be spending half my time observing at dine in theatres, mine and competitors, and not rolling out more than a handful until we got service and economics right. In a world of cheap 60 inch TVs streaming new release movies without rowdy crowds kicking the back of your seat AMC has to raise the bar to provide a relevant product or go the way of buggy whips.

Edited December 31, 2023 by ValueArb

[Spekulatius]

The AMC screens in our area are bad too. Other local theatre chains are doing a better job with the screens and sound system. I used to like the big screen experience, but ai now have a decent flat screen and sound system at home and it raises the bar to go to movie theatre. It also helps that I can crack a beer or drink some wine with the movie.

The kids don’t watch long format movies as much either, I think.

Edited January 1 by Spekulatius

[fareastwarriors]

Sold out of $gbtc on the news.

 

small BTC position left, will let it ride 

[thowed]

Screens are so horrible.  Sure, I'm old-fashioned, & prefer people generally, but I'd tolerate screens IF THEY WERE AS FAST AS PEOPLE.  At the moment, you spend ages wheeling through the different options, confirming etc.  The UX design is terrible.

 

And I don't think enough research has been done on the hygiene of it all either.  

 

Anyways, sorry to go off-topic...

 

[DooDiligence]

5 hours ago, thowed said:

Screens are so horrible.  Sure, I'm old-fashioned, & prefer people generally, but I'd tolerate screens IF THEY WERE AS FAST AS PEOPLE.  At the moment, you spend ages wheeling through the different options, confirming etc.  The UX design is terrible.

 

And I don't think enough research has been done on the hygiene of it all either.  

 

Anyways, sorry to go off-topic...

 

 

Yet it somehow seems appropriate that when ordering a crap burger, it should be done through a similar UX.

[Intelligent_Investor]

Probably gonna start selling my position in SIG if they hit the 105-110 range again. I was out of the country when they got to 107 last month. 105-110 is close enough to fair value that it won't be worth trying to squeeze out a few more bucks per share, so I'll take profits at that range

[ASTA]

last two months I sold amazon, meta, mkl, nov and have ffh brk tencent baba dis goog exor bidu left in stocks rest hedgfunds and PE and still fully invested. 

[backtothebeach]

Selling 1/6 of my irresponsibly overweight FFH.TO, sniff.

Months ago I planned to lighten up once it hit 1.1 * BV. I think it is pretty close to that on soon to be reported BV.

Trying to be prudent, but feels like leaving money on the table.

[Dinar]

1 hour ago, backtothebeach said:

Selling 1/6 of my irresponsibly overweight FFH.TO, sniff.

Months ago I planned to lighten up once it hit 1.1 * BV. I think it is pretty close to that on soon to be reported BV.

Trying to be prudent, but feels like leaving money on the table.

If you mark to market their investments particularly the investment in Fairfax India, and private investments held through Fairfax india, including the airport, the tangible book value is closer to $1100 per share.  Also, AJG Gallagher was very bullish on the call yesterday regarding insurance pricing for the next several years.

[Luke]

2 hours ago, backtothebeach said:

Selling 1/6 of my irresponsibly overweight FFH.TO, sniff.

Months ago I planned to lighten up once it hit 1.1 * BV. I think it is pretty close to that on soon to be reported BV.

Trying to be prudent, but feels like leaving money on the table.

Is a mistake honestly! Fairfax is more than half of my portfolio now and i wont even think about trimming at current valuation

Edited January 26 by Luca