what are you selling today?

[CorpRaider]

Oh I just mean below trailing, reported book, it probably won't be below actual book.  I got some there in 2020, so possibly anchoring.  I think stagflation is likely going to result in cheap stocks like the late 70's, it seems like everyone is going to freak the f out, but we will see.  We're only just now below CAPE 28.

Edited March 17, 2023 by CorpRaider

[jfan]

BAM

[formthirteen]

6 minutes ago, jfan said:

BAM

 

I've too been trimming BAM and FFH the last couple of weeks. I should probably put the money to work in an index fund

[CorpRaider]

Berk; just raising cash.

Edited March 20, 2023 by CorpRaider

[jfan]

2 hours ago, formthirteen said:

 

I've too been trimming BAM and FFH the last couple of weeks. I should probably put the money to work in an index fund

if you are selling some FFH at low 800s CAD, I'll buy some from you 

 

BAM seems fully priced, not sure about redeploying it to BN as it is a decent position size for me already

[formthirteen]

23 minutes ago, jfan said:

if you are selling some FFH at low 800s CAD, I'll buy some from you 

 

Sold for around 900 CAD. The position had become a bit too big for me to sleep well. FFH.TO is still my biggest position.

[Viking]

Sold a bunch of the stuff i bought last week. Happy to lock in some nice small gains. Up about 3% on average (FFH, RJF, SF, BCE, T.TO, SLF, CWB, BNS, CM etc). Everything was held in tax free accounts. I also lightened up on my oil holdings (CNQ and SU) - no gain here… just decided is was getting too overweight. Moving proceeds back in to money market type funds that pay 4% (risk free). Back to 50% cash. Fairfax continues to be my largest weighting (by far). Oil is #2 and big US banks is #3. 

 

What did we learn over the past 2 weeks? Higher interest rates are starting to break things in the economy. Banking crisis with regional banks is likely to tighten credit moving forward. Commercial real estate (and highly levered parts of the economy) is now getting onto investors radar. I think we continue to be in a bear market. 

 

My focus right now is capital preservation. My total portfolio is back up a little over 10% YTD. No need to try and be a hero given the current risk/reward set up.

Edited March 21, 2023 by Viking

[backtothebeach]

1 minute ago, Viking said:

Sold a bunch of the stuff i bought last week. Happy to lock in some nice small gains. Up about 3% on average

Man you are nimble ... respect.

[Viking]

49 minutes ago, backtothebeach said:

Man you are nimble ... respect.

Lucky. My view is in a bear market one goal for investors should be to not lose money (at least that is one of mine). That capital preservation thing Buffett talks about: ‘Keep what you got.’
 

My gut told me this weekend (after doing a bunch of reading/thinking/processing) i was getting out over skis with the equity weighting in my portfolio (it was up to 70%). Stocks popping higher the past 2 days gave me my opportunity to do some rebalancing in my portfolio (sell on strength).

 

I bought my dividend portfolio last week primarily to get a dividend yield of 5.7% over the next year (that is what the yield on the basket of stocks i purchased worked out to). Well Mr Market offered up a 3% gain in less than a week. And the proceeds are now in cash earning 4% so i lock in a higher 7% return risk free (with zero volatility). Plus by sitting in cash i can reload should stocks sell off again (my guess is they will). 
 

I continually trade in and out of Fairfax. I have a very big core position that i am happy to hold. But i also buy chunks of shares on big dips (like we saw last week when it dropped under US$635). Today it is trading at $665. Of course, i do not hit the absolute low (on the buy) and high (on the sell). But if i can make a quick 2 or 3% on a trade on a stock that is undervalued (on 100 or 200 shares at a time) i am happy to do it. And if the stock keeps going lower i am happy to simply hold a larger position.

 

I sold down my oil position simply because it was getting too large (that gut thing). At the end of the day, no one knows where the price of oil is going over the next year (with a high degree of certainty). I love the set up for oil. But i also understand what i do not know. That sleep well at night thing.

Edited March 21, 2023 by Viking

[Saluki]

Sold some GOOGL.  It's still my second biggest position. I tapped into my HELOC and added another 10% when it dipped to the low high 80s/low90s a couple of months ago.  No particular reason for the sale other than it was too big a position in my portfolio already and 10% or so in a couple of months in this environment is nice work if you can get it. 

[RedLion]

7 hours ago, Viking said:

Lucky. My view is in a bear market one goal for investors should be to not lose money (at least that is one of mine). That capital preservation thing Buffett talks about: ‘Keep what you got.’
 

My gut told me this weekend (after doing a bunch of reading/thinking/processing) i was getting out over skis with the equity weighting in my portfolio (it was up to 70%). Stocks popping higher the past 2 days gave me my opportunity to do some rebalancing in my portfolio (sell on strength).

 

I bought my dividend portfolio last week primarily to get a dividend yield of 5.7% over the next year (that is what the yield on the basket of stocks i purchased worked out to). Well Mr Market offered up a 3% gain in less than a week. And the proceeds are now in cash earning 4% so i lock in a higher 7% return risk free (with zero volatility). Plus by sitting in cash i can reload should stocks sell off again (my guess is they will). 
 

I continually trade in and out of Fairfax. I have a very big core position that i am happy to hold. But i also buy chunks of shares on big dips (like we saw last week when it dropped under US$635). Today it is trading at $665. Of course, i do not hit the absolute low (on the buy) and high (on the sell). But if i can make a quick 2 or 3% on a trade on a stock that is undervalued (on 100 or 200 shares at a time) i am happy to do it. And if the stock keeps going lower i am happy to simply hold a larger position.

 

I sold down my oil position simply because it was getting too large (that gut thing). At the end of the day, no one knows where the price of oil is going over the next year (with a high degree of certainty). I love the set up for oil. But i also understand what i do not know. That sleep well at night thing.

I would get killed on taxes or I would try to take more of an approach like this. You seem to be killing it though! 

[formthirteen]

CABO, I need to buy shitcos on a semi-regular basis to remind myself that I don't want to own shitcos, IMHO.

[RedLion]

BAM and AAPL. Both seem overpriced, and they were starter positions. I’ve added a lot of exposure over the last month, so I thought having a little dry powder is prudent. 

[longlake95]

Closed out my BSX position. 

[Intelligent_Investor]

Sold a May maturing treasury bond and bought a 6 month brokered CD with 5.15% interest rate in my IRA

[Luca]

I sold ASML completely and shifted proceeds to nintendo, its just better value and i think can beat asml IRR wise, bought at 395 euros and sold at 620 euros a share

Edited March 23, 2023 by Luca

[DooDiligence]

2 hours ago, Luca said:

I sold ASML completely and shifted proceeds to nintendo, its just better value and i think can beat asml IRR wise, bought at 395 euros and sold at 620 euros a share

 

Same, except I sold half of my SMH (it's had a nice run), and put it all in Nintendo.

[CorpRaider]

Sold some $CAG

[lnofeisone]

Sold enough FRC preferred to recover my cost basis on the morning pop. Will let the rest ride out. 

[RedLion]

Sold the BIP I just bought inside my 401k and redeployed into CPT as I feel that it offers less risk for a similar reward profile, and I still have a pretty big position in BN (#3 position) so I'm feeling that diversification away from Brookfield entities is probably a smart move. 

[Spekulatius]

Sold MSGS in my tax deferred account.

[RedLion]

Sold some December puts on MAA and EQR about 5-10% out of the money. Have some open orders still as well as for AVB/ESS. Might as well pick up just a little bit of incremental yield on my cash while I try to maneuver into a good long term compounder at a good price. 

[Xerxes]

There a lot of sells in the past two pages on the very name/sector, folks were saying it is long term buy because of this, that and the other thing 

 

edit: I guess there is a “relative” dimension aspect that is always in play

 

 

 

Edited March 30, 2023 by Xerxes

[Luca]

I sold Intel and LVMH completely and will shift the proceeds to Nintendo/BN/Alphabet.

 

20% gain on LVMH and i think there is better value elsewhere. Intel at -4% but after doing a lot of research on TSMC, i dont want to bet on intels comeback for now. 

Edited March 30, 2023 by Luca

[Gregmal]

9 hours ago, Xerxes said:

There a lot of sells in the past two pages on the very name/sector, folks were saying it is long term buy because of this, that and the other thing 

 

edit: I guess there is a “relative” dimension aspect that is always in play

 

 

 

LOL. Long term buys = sell after an 8% move. You didnt get the update?

 

The last few years have really highlighted how many market participants, especially ones masquerading as experts on the institutional and industry side, have very little clue what theyre doing; or simply have such a low bar for executing whatever it is they are executing, that its indiscernible. If you exclude workout stuff like arbs, I really cant think of any long term investment worth situations where 10-20% changes anything materially. If it does, why is one wasting their time for such low upside?

Edited March 30, 2023 by Gregmal