John Hjorth Posted June 17, 2019 Posted June 17, 2019 EXO.MI, FCAU, FRA.DE Spekulatius, I've - with great interest - been following your moves for years. [However I do not understand some of your moves, to me basically because your investment universe is much larger than mine, based on that you have multiples of investment experience & stock picking knowledge compared to me.] This move by you is a surprise to me with regard to EXOR.MI & FCAU [i'm unopinionated with regard to FRA.DE.] If you would take the time to elaborate just a bit on your line of thinking here, I would personally appreciate it very much.
Spekulatius Posted June 17, 2019 Posted June 17, 2019 EXO.MI, FCAU, FRA.DE Spekulatius, I've - with great interest - been following your moves for years. [However I do not understand some of your moves, to me basically because your investment universe is much larger than mine, based on that you have multiples of investment experience & stock picking knowledge compared to me.] This move by you is a surprise to me with regard to EXOR.MI & FCAU [i'm unopinionated with regard to FRA.DE.] If you would take the time to elaborate just a bit on your line of thinking here, I would personally appreciate it very much. As far as EXO.MI is concerned, I made the decision to reduce cyclicals, especially automotive in my portfolio. EXO via FCAU and CNHI (the latter may be overvalued actually) is quite exposed. I have not changed my opinion on management. I only sold my position in tax deferred account and keep my position on a taxable account. FRA.DE simply has reached my valuation target. I am surprised it rerated that quickly, because they will have negative FCF due to an investment in Capex for the next few years.
John Hjorth Posted June 19, 2019 Posted June 19, 2019 Reduced position a bit in NOVO B.CPH [NVO][in my father's account], to buy BRK.B, combined with pulling money off the table [money, that will never end up on the table again, but that will be allocated to one of his "high interest rate" accounts at Bank Norwegian ASA or Santander Consumer Bank ASA - those accounts are not part of my defined AUM].... Pulled out all available cash in my fathers account again today.
WayWardCloud Posted June 21, 2019 Posted June 21, 2019 Sold out all of my Apple (AAPL) shares and about a third of my Liberty Latin America (LILAK) shares.
DooDiligence Posted June 21, 2019 Posted June 21, 2019 Sold out all of my Apple (AAPL) shares and about a third of my Liberty Latin America (LILAK) shares. I sold the rest of my Apple too & will be happy to get exposure to them through BRK. Also sold: 1/2 of my Charter for a 50ish% gain in a bit over a year & will hold the rest in a tax advantaged account until whenever (Thank you Liberty :) ) 1/2 of ABEV for a 16ish% gain & will hold the rest in a tax advantaged account until whenever also. 20% of my Disney for a 38ish% gain & will hold the rest in taxable account until same. --- Marshaling cash (again) & I would repurchase any of these on significant weakness (probably...)
Spekulatius Posted June 21, 2019 Posted June 21, 2019 FRFHF, ENB and DVA. I sold ENB due to Line 3 and now Line 5 troubles. DVA was stub position and was sold due to poor fundamentals are. FRFHF will be converted into BRK.B eventually. I also trimmed WFC a bit as I was way too overweighted and I am getting concerned about earnings power at lower interest rates. I would buy it back if shares fall back a little again.
Foreign Tuffett Posted June 27, 2019 Posted June 27, 2019 HHC Same here. That went well. I pushed the sell button on this one a little too quickly this morning, which was an unforced error. That said, it's hard to complain about the results for a position I held less than 48 hours. I thought it was a little too cheap in the mid $90s, but I'm not nearly as bullish on HHC as some of this forum are. I also sold my small Bayer position this morning.
Gregmal Posted June 27, 2019 Posted June 27, 2019 HHC Same here. That went well. I pushed the sell button on this one a little too quickly this morning, which was an unforced error. That said, it's hard to complain about the results for a position I held less than 48 hours. I thought it was a little too cheap in the mid $90s, but I'm not nearly as bullish on HHC as some of this forum are. I also sold my small Bayer position this morning. Yea I bought this thinking if I could get a quick bounce to $100 I'd be thrilled. Did a little better than that, but not much. Dont care. Like you, I am not as hot on this as others, although that isn't to say I don't like it. When you trade, you have to follow your rules and be disciplined. While theres always remorse when something keeps soaring, you have to remember that pigs get slaughtered. I dont really ever sell my core holdings, and I trade on margin, so staying within the parameters I set for myself entering a trade, is a must.
Spekulatius Posted June 27, 2019 Posted June 27, 2019 ^ Same here. It’s polite to leave some money on the table for the guy buying the stock you just sold. Igor more than 20% out of my purchase and rolled the proceeds into VNO
Gregmal Posted June 28, 2019 Posted June 28, 2019 Trimmed FRPH into that late day spike north of $55.
Saluki Posted June 28, 2019 Posted June 28, 2019 FRFHF will be converted into BRK.B eventually. I own both and have not bought or sold either in a while. I like both as counter-cyclical bets because they tend to get great deals in a downturn. Why do you prefer BRK? (I think it's a great company, but so big that I wonder if there are more doubles or triples in there)
John Hjorth Posted July 1, 2019 Posted July 1, 2019 Reduced position a bit in NOVO B.CPH [NVO][in my father's account], to buy BRK.B, combined with pulling money off the table [money, that will never end up on the table again, but that will be allocated to one of his "high interest rate" accounts at Bank Norwegian ASA or Santander Consumer Bank ASA - those accounts are not part of my defined AUM].... Pulled out all available cash in my fathers account again today. Sold a bit less than one third of my fathers position in SAN today [at a loss]. It appears the account won't stay under the set goal/max. exposure, set now more than 5 years ago. I will drag out the cash [for good], when it's available after two days, if things don't fall back again. - - - o 0 o - - - It's starting to feel like raising a tent on a windy spot on sandy soil, where the tent plugs on the windy side of tent get dragged up from the soil by the wind pressure on the tent, where you use the rubber hammer again and again on the plugs. The difference between this activity and the "tent-plugs-won't-stay-in-the-sandy-soil-because-of-wind" analogy is that this activity does not feel annoying. I begin to understand how Mike [boilermaker] feels when Mike has been selling Berkshire B puts below 200.
Broeb22 Posted July 1, 2019 Posted July 1, 2019 Sold UA and sold YELP. UA appreciated significantly and the business has not turned around much if at all over a couple years. Meanwhile the stock is up 75-80%. YELP I bought into based on someone else's research without doing adequate research of my own. I am not comfortable with the direction of the business and this is a good reminder to always do my own work, even if piggybacking on successful investors.
Gregmal Posted July 2, 2019 Posted July 2, 2019 Trimming some CLF and probably BX too. What an under the radar monster BX has been this year. Even prior to the conversion announcement.
Lance Posted July 2, 2019 Posted July 2, 2019 Trimming some CLF and probably BX too. What an under the radar monster BX has been this year. Even prior to the conversion announcement. Gregmal - between BX and HHC you're killing it. Sold FPF and bought back TLT puts. Thanks Lance
Gregmal Posted July 2, 2019 Posted July 2, 2019 Trimming some CLF and probably BX too. What an under the radar monster BX has been this year. Even prior to the conversion announcement. Gregmal - between BX and HHC you're killing it. Sold FPF and bought back TLT puts. Thanks Lance Thanks. HHC was just a lucky timing thing on a gut feeling. BX is a longer term position for me and proof patience pays off. Now if only GM can follow suit... I am getting a little bearish though...
John Hjorth Posted July 3, 2019 Posted July 3, 2019 Reduced position a bit in NOVO B.CPH [NVO][in my father's account], to buy BRK.B, combined with pulling money off the table [money, that will never end up on the table again, but that will be allocated to one of his "high interest rate" accounts at Bank Norwegian ASA or Santander Consumer Bank ASA - those accounts are not part of my defined AUM].... Pulled out all available cash in my fathers account again today. Sold a bit less than one third of my fathers position in SAN today [at a loss]. It appears the account won't stay under the set goal/max. exposure, set now more than 5 years ago. I will drag out the cash [for good], when it's available after two days, if things don't fall back again. ... Sold a bit more SAN today.
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