Author Topic: What are you buying today?  (Read 2195685 times)

muscleman

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Re: What are you buying today?
« Reply #1080 on: April 23, 2015, 09:24:35 AM »
Similar to Frommi, I sold SEC today.
The rational was that when I first bough SEC last month, the USD.CAD rate was above 1.27. Now it is only 1.21, so the NAV per share in CAD should have dropped from 300 to 280.
Then the share price rised from 169 to 180 CAD. Therefore the discount has narrowed quite a bit. :)
I have some other investments that I've been watching for. Maybe I will start buying some soon. :)
I am muslceman. I have more muscle than brain!


writser

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Re: What are you buying today?
« Reply #1081 on: April 23, 2015, 09:43:49 AM »
I estimate that their portfolio is also up ~5% since you bought, the discount hasn't narrowed that much. 3% or something probably.
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DavidVY

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Re: What are you buying today?
« Reply #1082 on: April 23, 2015, 10:28:51 AM »
Just bought Chubb.

- Quality insurance company that carved out high-end niche.
- Combined ratio of 88-92 most years
- Conservative book (mostly short/medium term bonds). Hedge against interest rates rising as earnings will rise w/interest rates going up.
- 2.28% dividend + 5% share buyback
- P/E of 11.5






muscleman

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Re: What are you buying today?
« Reply #1083 on: April 23, 2015, 11:07:35 AM »
I estimate that their portfolio is also up ~5% since you bought, the discount hasn't narrowed that much. 3% or something probably.

That's possible. I didn't closely track their positions. I realized it is likely a PFIC after I bought, so I don't want to hold this for long term anyway.
I am muslceman. I have more muscle than brain!

randomep

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Re: What are you buying today?
« Reply #1084 on: April 23, 2015, 12:00:42 PM »

bought ATH:EUPIC a week or two ago

bookie71

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Re: What are you buying today?
« Reply #1085 on: April 23, 2015, 12:31:19 PM »
Always remember, Pigs get fat and hogs get slaughtered.

TwoCitiesCapital

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Re: What are you buying today?
« Reply #1086 on: April 23, 2015, 02:39:37 PM »
I estimate that their portfolio is also up ~5% since you bought, the discount hasn't narrowed that much. 3% or something probably.

That's possible. I didn't closely track their positions. I realized it is likely a PFIC after I bought, so I don't want to hold this for long term anyway.

Is there a reason all this PFIC talk just blew up in the last few months? I'd never heard of this old, arcane tax rule and all of the sudden it seems like everyone and their mother is concerned about investments being PFICs, how to strategically do their taxes for PFICs, if PFICs can be held in IRAs, and if they're allowed in ERISA accounts, etc. etc. etc. I don't mean to derail the thread, but from what I could this isn't a new rule and I'm just trying to understand all of the recent interest that wasn't relevant a year ago?

gfp

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Re: What are you buying today?
« Reply #1087 on: April 23, 2015, 03:33:18 PM »
This quote from a site below kind of sums up why US investors are just recently worrying about it.  There were changes in the last few years that alerted folks to the issue --

"The FATCA legislation not only requires new self-reporting on PFICs and other foreign held financial assets, but also requires all “foreign financial institutions” to report on the assets held by U.S. citizens and U.S. permanent residents directly to the IRS by 2014.  While it may seem hard to believe that foreign financial institutions would willingly comply with such reporting requirements, the fact is that industry observers expect nearly universal compliance with the new rules by banks, brokerages, insurance companies, mutual funds (anything “financial”) around the world, because of the severe sanctions the FATCA law imposed on non-compliant financial institutions.  The point is that all U.S. citizens must assume that as of 2014, the IRS will have a direct and easily accessible window onto their holdings in foreign financial institutions. It will be easy to cross-reference direct reports by these institutions to the IRS with self-filed form 8938 and 8621 and determine whether or not your PFIC investments have been properly reported and the tax properly calculated and paid."

http://thunfinancial.com/why-americans-should-never-ever-own-shares-in-a-non-us-incorporated-mutual-fund/

valueinvesting101

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Re: What are you buying today?
« Reply #1088 on: April 23, 2015, 03:59:05 PM »
GM/WS/B

james22

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Re: What are you buying today?
« Reply #1089 on: April 23, 2015, 11:29:10 PM »
I am buying FFH today...

Reflect your belief that is attractively priced? Or are dollar-cost averaging?
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