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what are you selling today?


muscleman

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I flipped the OZ I bought a couple weeks ago. It still trades at a hefty discount to their claimed NAV, but I can't pass up a nearly 50% gain in two weeks on no news. Just got kind of lucky catching a bottom on it.

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Ya, it’s been quite the ride. Bought in 2020. Trying to water the flowers and pull the weeds here - letting winners run. Sitting on my hands, mostly, very interested to hear their commentary on current business conditions and the backlog. I think they earn +$6 this year. 
 

LL 

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31 minutes ago, longlake95 said:

Trying to water the flowers and pull the weeds here - letting winners run. 

 

I've been guilty of sitting on losers too long while waiting for them to come back.  I think Buffett had a great quip about the stock not knowing that you own it. I was listening to a podcast yesterday from an investor, who has a concentrated book and he had a great line about not cutting the flowers and watering the weeds, but doing the opposite.  Rather than throwing good money at a bad business and hoping it will turn around he said "It's much easier to give birth than it is to resurrect the dead." 

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Agreed. I think the biggest lesson for me the last 20 years, has been to constantly re-assess if your thesis has under-shot or over-shot as the fundamentals play out over time. If you’ve under-shot like I did with HPS.a, where the business has blossomed mightly ahead of my thesis, JUST SIT ON YOURS HANDS. Continually re-assess. Easy to say, hard to do. But sure is fun. 
 

Confirmation bias can really kill your returns. 

Edited by longlake95
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ARES, BX, AMP, and GOOGL. 
 

all have done well for me. Would rather not sell, but I had racked up a decent size margin debt in these multiple real estate renovation projects and wanted to right myself while the markets are hot. 

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Trimmed a few shares of META. I still have a good mid size position in it, but other than sitting on my hands and doing nothing, I don't I have any advantage over the hordes of analysts looking at a trillion dollar stock, so I think I'm better off looking at things that are overlooked and unloved. 

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5 minutes ago, Dinar said:

Why did you sell YELLQ?  Thank you.

I merely trim it. I had 4% of my portfolio in it, which is a zero or multi bag situation depending on a litigation situation . After $SAVE fiasco, I have turned into a person without guts. Now I have about 2% of my portfolio in it and probably will keep holding till full liquidation. 

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I have exchanged a large part of my alibaba position for tencent, reduced some prosus and added to tencent. I am planning to play it with 60% Prosus 40% Tencent as a full position and think thats optimal. 

 

My opinion on alibaba did not change but i think tencent is just the better business with better tailwinds. Small gain on the alibaba position in this short time frame. 

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