what are you selling today?

[gfp]

20 hours ago, gfp said:

 

More selling!  drip drip drip!  every day!

 

 

Another day at the office... drip drip drip

 

[Whensthepaintdry?]

@gfp Congrats! I hope for my sake you have this much good fortune with BOC. 

[patterson]

Sold a smallish (3%) position in HCC and used some of the proceeds to add to STHRF/SCR.TO. HCC seems to have gotten ahead of itself at current coking coal prices, even with the Blue Creek mine coming online without hitches. It now trades somewhere near NPV (though this is based on my slightly outdated and rough numbers) vs. about 0.50 when I bought it last year. I also see that the CEO just sold 100,000 shares ($10 m). Finally, met coal was always outside my already-narrow circle of competence. After reading the "Overdiversification" thread, I was reminded of the Buffett quote below (credit to sholland). Even though I have fewer than 10 stocks already, I asked myself whether I'd feel comfortable with 10% in HCC at current prices. If not, why keep it?

 

On 1/14/2026 at 3:17 PM, sholland said:

With each investment you make, you should have the courage and the conviction to place at least ten percent of your net worth in that stock.” - Warren Buffett 

 

If you are not willing to put at least 10% into an idea then the margin of safety is too narrow.  That philosophy means a maximum of 10 stocks.

[gfp]

On 1/15/2026 at 10:13 AM, gfp said:

 

Another day at the office... drip drip drip

 

 

 

Another day at the office!

 

I kind of love how nobody has ever asked me a single question about this business - besides "does sardar still pay himself a lot?"  

 

Like, "hey, what is this capitalizing a $600m+ bermuda reinsurance company with uncanceled treasury stock?"  "has anyone ever pulled that off before?"  

"how much money did STORE capital just lend them against a subset of their owned real estate?"  "was that mortgage more than the entire market cap when you bought the stock?"   

 

"is there any way for Sardar to become truly wealthy without the common stock price doing well?"

 

"what has the change in GAAP (effective) share count been over the years?"

 

 

or..

 

"how has the primary insurance division done growing earned premiums and at what combined ratio have they been coming in at?"

 

 

[brobro777]

Sold all the silver coins I had yesterday - I had them since the 1990s! 

[patterson]

2 minutes ago, brobro777 said:

Sold all the silver coins I had yesterday - I had them since the 1990s! 

Out of curiosity, did you get a good price or did the buyer (I assume a local coin shop) insist on a significant discount to spot? 

[brobro777]

4 minutes ago, patterson said:

Out of curiosity, did you get a good price or did the buyer (I assume a local coin shop) insist on a significant discount to spot? 

 

Almost all of my coins were pre 1964 silver quarters and I went to a few places but they were lowballing like crazy so I walked away

 

Then I found a place that was paying about 90% of ebay silver quarter prices so I said okay, given ebay fees etc

 

Now I wonder when would be a good time to short silver futures...

 

 

[73 Reds]

2 minutes ago, brobro777 said:

 

Almost all of my coins were pre 1964 silver quarters and I went to a few places but they were lowballing like crazy so I walked away

 

Then I found a place that was paying about 90% of ebay silver quarter prices so I said okay, given ebay fees etc

 

Now I wonder when would be a good time to short silver futures...

 

 

I've got hundreds of those old civil coins; curious, how much did they pay you per quarter?

[brobro777]

4 minutes ago, 73 Reds said:

I've got hundreds of those old civil coins; curious, how much did they pay you per quarter?

 

I had other coins too but yesterday when Silver was $92 they effectively paid me about $14.5 per pre 1964 silver quarter - ebay listings for these circulated junk silver quarter is around $16 per coin 

 

 

But bro much more important is when and how much I'm going to short silver this year

 

Way more important

[73 Reds]

4 minutes ago, brobro777 said:

 

I had other coins too but yesterday when Silver was $92 they effectively paid me about $14.5 per pre 1964 silver quarter - ebay listings for these circulated junk silver quarter is around $16 per coin 

 

 

But bro much more important is when and how much I'm going to short silver this year

 

Way more important

Did you originally buy the coins or were they part of a collection?  As a kid I was an avid collector; in fact vaguely remember when silver coins stopped being minted and had an Uncle who recommended that I keep all silver coins I get for change, etc... because they would be worth something someday.  So I never actually bought any coins but have some silver dating as far back as the late 1700s.  Never thought of selling it though since it is fun to look at every now and then and talk about with other collectors.

[brobro777]

21 minutes ago, 73 Reds said:

Did you originally buy the coins or were they part of a collection?  As a kid I was an avid collector; in fact vaguely remember when silver coins stopped being minted and had an Uncle who recommended that I keep all silver coins I get for change, etc... because they would be worth something someday.  So I never actually bought any coins but have some silver dating as far back as the late 1700s.  Never thought of selling it though since it is fun to look at every now and then and talk about with other collectors.

 

I think my parents got the silver quarters from people who used them at face value in the early 1990s and they gave them to me. Using these coins at face value of 25 cents wasn't a terrible thing to do over 30 years ago because it wasn't worth much more. And these were junk silver quarters from 1930s, 1940s, and 1950s - no special dates or years, no collector value. I held these over the years and I'd check the prices from time to time - I remember looking at ebay prices back in the 2000s and saw they were like $4 per coin and think haha that's cool. Yesterday when I was selling the store owner dude said he knew someone who bought a house with all the silver coins his grandfather left him. I was gonna say, who you bullshitting, but then thought okay that's possible

 

I wanna short silver futures at $90 and cover it at $50 later in the year but I fear there might be a monster squeeze to $150 that kicks my ass before $50....

 

 

[DooDiligence]

57 minutes ago, brobro777 said:

 

Almost all of my coins were pre 1964 silver quarters and I went to a few places but they were lowballing like crazy so I walked away

 

Then I found a place that was paying about 90% of ebay silver quarter prices so I said okay, given ebay fees etc

 

Now I wonder when would be a good time to short silver futures...

 

 

 

I sold a bunch of rolls of mercury and pre-64 Roosevelt dimes last year. Local coin dealers know eBay takes around 12% +/- and they'll offer accordingly. Can't blame them, they're in the arbitrage business. I've sold all mine on eBay (it's a hobby), and started unleashing gold eagles over the past 6 months too.

[brobro777]

26 minutes ago, DooDiligence said:

 

I sold a bunch of rolls of mercury and pre-64 Roosevelt dimes last year. Local coin dealers know eBay takes around 12% +/- and they'll offer accordingly. Can't blame them, they're in the arbitrage business. I've sold all mine on eBay (it's a hobby), and started unleashing gold eagles over the past 6 months too.

 

Yea I agree with that, selling on the way up - they want your shit so it's easier to sell and you get to feel like the hot girl at the party 

 

Oh man I wanna short Silver at $90 so bad but these commodities give me the heebie jeebies with their insane moves

 

 

[brobro777]

 

Frank Costanza was right, the silver collection did become more valuable after 30 years!

 

haha

 

 

[UK]

21 hours ago, gfp said:

 

 

Another day at the office!

 

I kind of love how nobody has ever asked me a single question about this business - besides "does sardar still pay himself a lot?"  

 

Like, "hey, what is this capitalizing a $600m+ bermuda reinsurance company with uncanceled treasury stock?"  "has anyone ever pulled that off before?"  

"how much money did STORE capital just lend them against a subset of their owned real estate?"  "was that mortgage more than the entire market cap when you bought the stock?"   

 

"is there any way for Sardar to become truly wealthy without the common stock price doing well?"

 

"what has the change in GAAP (effective) share count been over the years?"

 

 

or..

 

"how has the primary insurance division done growing earned premiums and at what combined ratio have they been coming in at?"

 

 

[shhughes1116]

17 hours ago, brobro777 said:

i wanna short silver futures at $90 and cover it at $50 later in the year but I fear there might be a monster squeeze to $150 that kicks my ass before $50....

 

 

This was my initial reaction - short the parabolic move.  
 

Then I started reading about Samsung’s solid state battery tech.  We’re gonna need a lot of silver for solid state batteries.

 

Now I’m not so sure if we are seeing a step-change in demand.  Most silver is produced as a by-product - it’s not so simple to ramp up supply.  

[DooDiligence]

1 hour ago, shhughes1116 said:

This was my initial reaction - short the parabolic move.  
 

Then I started reading about Samsung’s solid state battery tech.  We’re gonna need a lot of silver for solid state batteries.

 

Now I’m not so sure if we are seeing a step-change in demand.  Most silver is produced as a by-product - it’s not so simple to ramp up supply.  

 

Best way I've ever seen metals played is jewelers who buy scrap and send it to refiners capturing a spread. Sky high gold brings prospects out of the woodwork. Most people have no clue how much their 10K, 14K, 18K gold is worth. Silver is easier if it's sterling but again, most people don't even know the content vs value.

 

Doesn't take much. A small shop with a bench for repairs + a single display with basic chains and replacement wedding bands, maybe some coins and bezels. A big sign saying WE BUY GOLD AND SILVER. If I wasn't so lazy.

[Spekulatius]

2 hours ago, shhughes1116 said:

This was my initial reaction - short the parabolic move.  
 

Then I started reading about Samsung’s solid state battery tech.  We’re gonna need a lot of silver for solid state batteries.

 

Now I’m not so sure if we are seeing a step-change in demand.  Most silver is produced as a by-product - it’s not so simple to ramp up supply.  

So you think that Samsungs approach is the winner in SS batteries? There are many approaches and most don’t require silver. This will be even more true if silver is extremely expensive.

[brobro777]

6 hours ago, shhughes1116 said:

This was my initial reaction - short the parabolic move.  
 

Then I started reading about Samsung’s solid state battery tech.  We’re gonna need a lot of silver for solid state batteries.

 

Now I’m not so sure if we are seeing a step-change in demand.  Most silver is produced as a by-product - it’s not so simple to ramp up supply.  

 

I dunno man, in my opinion commodities going parabolic has always been due to specs going crazy - industrial is usually an excuse

 

Boy these funboys really seem to like buying silver bars at Costco....

 

 

[brobro777]

5 hours ago, DooDiligence said:

 

Best way I've ever seen metals played is jewelers who buy scrap and send it to refiners capturing a spread. Sky high gold brings prospects out of the woodwork. Most people have no clue how much their 10K, 14K, 18K gold is worth. Silver is easier if it's sterling but again, most people don't even know the content vs value.

 

Doesn't take much. A small shop with a bench for repairs + a single display with basic chains and replacement wedding bands, maybe some coins and bezels. A big sign saying WE BUY GOLD AND SILVER. If I wasn't so lazy.

 

Yea the real money is in lowballing the morons. Not just silver and gold but in anything really

 

 

[shhughes1116]

20 hours ago, Spekulatius said:

So you think that Samsungs approach is the winner in SS batteries? There are many approaches and most don’t require silver. This will be even more true if silver is extremely expensive.

I have no idea, although my suspicion here (like in most tech) is that there will be multiple approaches that make it to the market.  The carbon nano tube tech seems promising, although its not clear they've solved the discharge problem, and its seems like it delays rather than prevents dendrite formation.  We're gonna learn a lot from the Donut Labs motorcycle.  The silver-carbon approach doesn't seem to suffer from the discharge problem, and appears superior at preventing dendrite formation.  I'm sure we will learn a lot from the partnership between Samsung and BMW - I think this tech is going into i7 prototype vehicles later this year.  

 

To be transparent, I'm not an engineer.  I follow this for personal interest, and it happens to intersect with my investing interest in explorers and developers.     

Edited January 18 by shhughes1116

[DooDiligence]

7 minutes ago, shhughes1116 said:

To be transparent, I'm not an engineer.  I follow this for personal interest, and it happens to intersect with my investing interest in explorers and developers.     

 

Welcome to ye olde curiosity shop and fossil museum.

[Spekulatius]

I only follow battery tech loosely. My background is material science, not that it helps really much. Even if you are en expert, it hard to really judge where the tech is going as several material combinations and equally important differnt formulations are competing here. Whatever the outcome silver has cost and also some toxicity issues , which is why it’s not a forerunner in my opinion, at least not for mass market applications.

Edited January 18 by Spekulatius

[Value_Added]

CoreShell has what appears to be a promising technology easily capable of mass market production.  They use a metallurgical silicon and a proprietary process for making it stable.  They’ve partnered with Ferroglobe ($GSM) for the supply of MG-Si.  Ferroglobe has many other tailwinds such as anti-dumping safeguards, tariffs, re-industrialization, silicon metal becoming a critical mineral, etc…with the battery partnership with CoreShell acting as a call option. This seems like a safer way to bet on batteries considering where they are in the development process (OEM testing) paired with a core business at a likely inflection point.
 

From the most recent Ferroglobe quarterly call:

 

“They continue to make great strides in the development of silicon anode technology for next-generation batteries for EVs and other applications. Recently, Coreshell began shipping commercial scale 60 ampere EV pilot batteries to leading automotive OEMs for testing, a major step towards commercialization. The production ramp remains on schedule with consistently high yield and quality, underscoring the scalability of their process.  Another advantage is that Coreshell's silicon-rich anode technology removes the reliance on graphite, of which over 90% is produced in China, paving the way for a fully domestic supply chain for EV batteries. “

[gfp]

So I own this teeny tiny company called LendWay, ticker LDWY.  The name of the company is left over from a previous idea for the business being a specialty lender to the agriculture industry (went nowhere), before that it was a cash shell from selling their only business which was grocery store display marketing.

 

I get a kick out of it because today the actual business of this company is Tulips (their operating subsidiary is a company called Bloomia).  Tulip-mania!  I love it. It's usually like a $5m market cap.  Highly seasonal (valentines day, mother's day...)

 

Today, for at least the third time, this company has been targeted by some kind of "low float" pump and dump scheme.  It's been halted a few times for volatility circuit breakers and I've sold almost all of my position, again, in the mid to high 4's.

 

Then basically each time I set an 'IB mid price algorithm with limit' to buy in the shares at $3.50 or below and the position usually gets replenished.

 

It's actually not a bad company - just extremely highly leveraged from their buyout of Bloomia.  Nick Swenson of AirT is in control of the company.  AirT also just took over a tiny Australian airline, Rex (more like a bus system for tiny towns but on planes) for $1 from the AUS government.  Strange move!

 

Anyway, long way of saying I am selling all the LDWY *again* !  Deja Vu