Author Topic: what are you selling today?  (Read 40024 times)

muscleman

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what are you selling today?
« on: October 08, 2013, 08:16:48 PM »
While I think the thread below is probably helpful to members, I think maybe a thread called "what are you selling today?" will also be helpful. This is not for selling short. Just selling.
http://www.cornerofberkshireandfairfax.ca/forum/general-discussion/what-are-you-buying-today/

There could be a few reasons for selling:
1. You just found a better opportunity. Please tell us why.
2. You made an investment mistake. Please tell us the story. What was your original thesis and what is your current expectation.
3. You made a handsome profit on an investment, and you are exiting because it has reached your price target. Congrats on that! It will be great if you could share with us some stories about this investment. Now in hindsight, do you think this is pure luck, or it is your hard working being paid off, and why?
4. Exiting a position due to a corporate event and/or loss of faith in management or the major shareholders.

 :)
« Last Edit: October 09, 2013, 08:03:56 AM by muscleman »


hyten1

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Re: what are you selling today?
« Reply #1 on: October 08, 2013, 09:47:23 PM »
haven't sold anything for a while, looking to deploy the 40% or so in cash that i have burning in my pocket.

the tax man clouded my judgement and prevent me from selling more stock recently (the tax bill is getting too high)

still looking for the opportunity to deploy more cash

EDIT: anyone with a HIGH conviction opportunity?
« Last Edit: October 08, 2013, 09:50:09 PM by hyten1 »

xtreeq

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Re: what are you selling today?
« Reply #2 on: October 09, 2013, 12:17:01 AM »
muscleman,

Allow me to add a 4th reason by way of recent experience - exiting a position due to a corporate event and/or loss of faith in management or the major shareholders.

I bought preferred shares in Oi via the ADR (OIBR) in August thanks to Packer's sage advice and my own research leading me to believe that Zeinal Bava, the CEO, was indeed an excellent manager and that the company had excellent growth prospects. The stock proceeded to go up around 50% from my entry point in about a month, declared a reduced but still handsome dividend and I was happy to hold the investment for a few years to allow it to realize its full value

Last week they announced they are doing a rights ofering which is 125% of the current MV of their equity PLUS they are combining with their parent Portugal Telecom by buying PT's assets for a lot more than book value and at a very bad EUR/BRL exchange rate. This all resulted in me being diluted around 50% of an FCF basis, but as I wrote at the time on the Oi thread, I decided to exit because do not want to partner with those out to fleece me.

I was ready to sell once trading opened thinking that the shares must trade down BUT to my surprise the pre-market was positive, so I followed the shares upward through the day and sold towards the end of the day close to the daily high. After the unexplained euphoria of that day's trading the market finally realized how bad the deal was for Oi shareholders and the shares lost 30% in a few days.

muscleman

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Re: what are you selling today?
« Reply #3 on: October 09, 2013, 08:05:22 AM »
muscleman,

Allow me to add a 4th reason by way of recent experience - exiting a position due to a corporate event and/or loss of faith in management or the major shareholders.

I bought preferred shares in Oi via the ADR (OIBR) in August thanks to Packer's sage advice and my own research leading me to believe that Zeinal Bava, the CEO, was indeed an excellent manager and that the company had excellent growth prospects. The stock proceeded to go up around 50% from my entry point in about a month, declared a reduced but still handsome dividend and I was happy to hold the investment for a few years to allow it to realize its full value

Last week they announced they are doing a rights ofering which is 125% of the current MV of their equity PLUS they are combining with their parent Portugal Telecom by buying PT's assets for a lot more than book value and at a very bad EUR/BRL exchange rate. This all resulted in me being diluted around 50% of an FCF basis, but as I wrote at the time on the Oi thread, I decided to exit because do not want to partner with those out to fleece me.

I was ready to sell once trading opened thinking that the shares must trade down BUT to my surprise the pre-market was positive, so I followed the shares upward through the day and sold towards the end of the day close to the daily high. After the unexplained euphoria of that day's trading the market finally realized how bad the deal was for Oi shareholders and the shares lost 30% in a few days.

Congrats! You still made a handsome profit on that!
I added that as the 4th reason, but I think it is similar to No.2.
As the price drop more, maybe it will be a good time to reenter?

Palantir

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Re: what are you selling today?
« Reply #4 on: October 09, 2013, 08:07:39 AM »
Nothing to sell, my portfolio has gotten killed last 3 weeks.
My Portfolio: AMZN, PAGP, FSLR, OKE, PYPL, RHT, MSFT

muscleman

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Re: what are you selling today?
« Reply #5 on: October 09, 2013, 08:07:46 AM »
I sold all my SHLD holding today.
I think Eric is right. Recently all retailers are reporting bad numbers, and SHLD is still losing money. So taking a potential double as the upside does not sound as attractive given the risks.
The other reason is that as we approach the year end tax loss sale season, there could be more interesting opportunities and safer.

cubsfan

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Re: what are you selling today?
« Reply #6 on: October 09, 2013, 08:20:26 AM »
Yup, sold 80% of my SHLD last week with this ridiculous gov actions looming. Too much sitting on the table.

Sold a tech - NOW on valuation. a few other things to raise cash. Hope to get another shot with SHLD.

rkbabang

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Re: what are you selling today?
« Reply #7 on: October 09, 2013, 08:26:38 AM »
I haven't bought or sold anything recently.  There are a lot of companies I'd love to own, but not at the prices they are trading at.  Ignoring my small positions my portfolio is now (in order) BAC(LEAPS & warrants), FRFHF, AIG-WT, SD(common & LEAPS), HOTR, AAPL
There is nothing I want to sell right now.

enoch01

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Re: what are you selling today?
« Reply #8 on: October 09, 2013, 08:38:04 AM »
Not doing anything.  My only position is BP.  Other than that I have tons of cash.

xtreeq

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Re: what are you selling today?
« Reply #9 on: October 09, 2013, 08:55:25 AM »
muscleman,

Allow me to add a 4th reason by way of recent experience - exiting a position due to a corporate event and/or loss of faith in management or the major shareholders.

I bought preferred shares in Oi via the ADR (OIBR) in August thanks to Packer's sage advice and my own research leading me to believe that Zeinal Bava, the CEO, was indeed an excellent manager and that the company had excellent growth prospects. The stock proceeded to go up around 50% from my entry point in about a month, declared a reduced but still handsome dividend and I was happy to hold the investment for a few years to allow it to realize its full value

Last week they announced they are doing a rights ofering which is 125% of the current MV of their equity PLUS they are combining with their parent Portugal Telecom by buying PT's assets for a lot more than book value and at a very bad EUR/BRL exchange rate. This all resulted in me being diluted around 50% of an FCF basis, but as I wrote at the time on the Oi thread, I decided to exit because do not want to partner with those out to fleece me.

I was ready to sell once trading opened thinking that the shares must trade down BUT to my surprise the pre-market was positive, so I followed the shares upward through the day and sold towards the end of the day close to the daily high. After the unexplained euphoria of that day's trading the market finally realized how bad the deal was for Oi shareholders and the shares lost 30% in a few days.

Congrats! You still made a handsome profit on that!
I added that as the 4th reason, but I think it is similar to No.2.
As the price drop more, maybe it will be a good time to reenter?

Thanks muscleman :)

I have no complaints about the profit! As for Oi, do look at the thread but after a good deal of analysis I think that unless the stock completely tanks (i.e. under a dollar when currently at around $1.70), there is not enough upside in it