what are you selling today?

[Malmqky]

Sold the Fairfax shares I bought in August for a nice little gain. Back down to “only” a 20 some % position.

[Spekulatius]

Reduced my LW position at about breakeven. Stock has recovered some after the earnings, but ai find both the business, the valuation and management uninspiring.

 

I figured I was wrong getting involved in this stock in the first place. I probably sell down the rest as well.

[zzzyx]

Sold most of my IMKTA....that storm did a number on their distribution center/inventory.  And they self-insure.  Gonna be some tough sledding there for a while.  Some puts might be interesting for those into making leveraged bets.

[Ross812]

Sold out of HSY. The company could still be a good LT pick, but future estimates have come down from both analysts and the company and a 20x PE is too expensive with earnings below $10/share for the next several years.  

[KPO]

SIRI. Quick 20%, and just don’t love the business given competition for various types of content.

[bizaro86]

SOBO.to 

 

Not selling fully, just taking a bit off the table after the post-spin run-up. I still like the assets (and given the level of leverage this isn't that big a change in EV/EBITDA which is the correct way to value this imo).

 

 

[Luke]

part of the WOSG position at 14% gain in a month. Have concerns about rolex i just couldnt look over.

[cubsfan]

On 10/4/2024 at 5:06 PM, Spekulatius said:

Reduced my LW position at about breakeven. Stock has recovered some after the earnings, but ai find both the business, the valuation and management uninspiring.

 

I figured I was wrong getting involved in this stock in the first place. I probably sell down the rest as well.

 

This was a good one @Spekulatius .  I never heard of these guys, but talk about boring - french fry company, world's largest. Yawn...   Wish I had bought more of it. 

Thanks and nice work here.

[Spekulatius]

1 hour ago, cubsfan said:

 

This was a good one @Spekulatius .  I never heard of these guys, but talk about boring - french fry company, world's largest. Yawn...   Wish I had bought more of it. 

Thanks and nice work here.

lol, I was breakeven when exiting. Glad somebody else makes money from it. My timing on entry and exit was incredible bad.

 

Looks like an activist is coming from them.

Edited October 18, 2024 by Spekulatius

[LC]

sold a little more CLPR. took about 20% off the position in the past few days ranging from 6.70-7.05 or so

[Monsieur_dee]

Completely out of zoomer media. 

[fareastwarriors]

18 hours ago, LC said:

sold a little more CLPR. took about 20% off the position in the past few days ranging from 6.70-7.05 or so

why now? 

[LC]

Mainly a trading decision - I see value in CLPR assets but the stock does not trade very well and I don't think management works to maximize the share price. I'd rather reduce exposure and take what the market gives me. Probably it shoots back up to 8/9, but this is finally a sub 3% position for me and I am a lot more comfortable with that. Opportunity cost over the past 2 years sucks, unfortunately.

[UK]

I could be wrong, but my gut still does not allows me to get a conviction for a substantial China allocation, so I sold a few minor China positions and bought more of RTO instead:)

[Paarslaars]

Sold some Metaplanet today, was able to participate in the rights offering so got some extra shares cheaply, sold them for a nice profit.

[Saluki]

Sold half my position in Tsakos.  I'm trying to reduce my margin before the election, and this was down so I can use the tax loss this year.  I'll be trimming some other things soon.

[LC]

On 10/19/2024 at 11:51 AM, LC said:

Mainly a trading decision - I see value in CLPR assets but the stock does not trade very well and I don't think management works to maximize the share price. I'd rather reduce exposure and take what the market gives me. Probably it shoots back up to 8/9, but this is finally a sub 3% position for me and I am a lot more comfortable with that. Opportunity cost over the past 2 years sucks, unfortunately.

 

Today kind of illustrates what I (poorly) was trying to communicate here. 

 

Something like Berkshire-  management (Buffett) does a good job of providing consistency. Dependable businesses and cashflows, and he buys back stock when below IV.

 

Clipper- shortly put, there is a lot of instability. Management sort of turns a blind eye to it. For a company like Berkshire I might be buying back some of the shares I sold in the $7 range. But Clipper I will wait to see if this sinks back into the $5/sh range. Bit of a trading sardine despite NYC real estate assets.

[Red Lion]

I trimmed some OWL in my retirement account. I've lost more money selling winners than buying losers, and I try to remind myself of that. But the retirement account is heavily concentrated, and I just can't take advantage of these short term gains in my other investment accounts without paying a punitive tax rate. I immediately rolled the proceeds into JOE (starting the position inside my retirement account). 

 

So after today's sale, OWL/APO are about equal weight in my retirement account, both accounting for ~20% positions. Nintendo and PM are at 15%. JOE and BTI are at 8%. CLPR/CPT/OXY warrants are  ~4% positions.

[fareastwarriors]

10 minutes ago, Red Lion said:

I just can't take advantage of these short term gains in my other investment accounts without paying a punitive tax rate.

 

You need to join us and get that Real Estate Professional status. What Fed/CA income taxes 

[Red Lion]

15 minutes ago, fareastwarriors said:

 

You need to join us and get that Real Estate Professional status. What Fed/CA income taxes 

 

Seriously! I think I'm close. I just sent you a message. 

[Spekulatius]

Reducing $BAC and $LUV

[LC]

Sold OOM calls on Citi

Sold OOM puts on St. Joe

 

Sold out of OWL (thank you, RedLion - I really enjoy reading your posts/insights on the alt managers)

Edited October 22, 2024 by LC

[Red Lion]

On 10/22/2024 at 12:48 PM, LC said:

Sold OOM calls on Citi

Sold OOM puts on St. Joe

 

Sold out of OWL (thank you, RedLion - I really enjoy reading your posts/insights on the alt managers)

 

You're welcome! I feel like I really need to dig in to look for opportunities, now that I can't find any low hanging fruit with the alts. I do still feel like the group BX/ARES/KKR/APO/BAM/CG/OWL can do well over the long term, but the valuations are high across the board. 

[Cod Liver Oil]

Sold a bunch of Joe March 50 puts.

Joe and FRPH are in the coffee can. 

[Saluki]

I overbought Google on the dip and have been trimming the past couple of days to keep at 20% weighting, which is probably the most I feel comfortable owning in any company that I don't personally control, no matter how good the prospects look. 

 

I also bought more OXY a month ago (right before it started really dropping), and have been selling my higher basis shares to offset gains and keep the same weighting.