Author Topic: what are you selling today?  (Read 172887 times)

fareastwarriors

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Re: what are you selling today?
« Reply #540 on: October 07, 2020, 01:45:35 PM »
Sold out of BAM (so I can buy more office reits  :P ).  It was a tiny position.



Spekulatius

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Re: what are you selling today?
« Reply #541 on: October 08, 2020, 04:16:49 AM »
LEVI (AH) and HII.

HII was a starter position and the defense play I had the least confidence in.

It's great move, Speculatius,

Because HII is not a business, it's a scheme [with a ticker, though] to suck up funds from the US military budget to keep people meaningless employed.

Well, I am not sure I fully agree. Should the US just outsource building these ships to Korean shipbuilders for example? it sure would be cheaper, but I don’t think it would ever happen. There is some issue with IP too, but I don’t think there is much IP in the hulls and that is actually my concern with HII in the long run.

Longer term, military power is going to be driven by technology much more so than by the number of boots on the ground. that’s why I believe the likes of LMT, NOC and LHX are better bets than HII.
« Last Edit: October 08, 2020, 04:18:23 AM by Spekulatius »
Life is too short for cheap beer and wine.

KJP

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Re: what are you selling today?
« Reply #542 on: October 08, 2020, 05:40:58 AM »
LEVI (AH) and HII.

HII was a starter position and the defense play I had the least confidence in.

It's great move, Speculatius,

Because HII is not a business, it's a scheme [with a ticker, though] to suck up funds from the US military budget to keep people meaningless employed.

Well, I am not sure I fully agree. Should the US just outsource building these ships to Korean shipbuilders for example? it sure would be cheaper, but I donít think it would ever happen. There is some issue with IP too, but I donít think there is much IP in the hulls and that is actually my concern with HII in the long run.

Longer term, military power is going to be driven by technology much more so than by the number of boots on the ground. thatís why I believe the likes of LMT, NOC and LHX are better bets than HII.

I wasn't sure what the prior cryptic comment was getting at.  But I agree with you that the biggest risk here is that advances in anti-ship cruise and anti-ship ballistic missiles (aided by satellite guidance) render large surface ships like aircraft carriers obsolete in combat against other advanced militaries.  There are already commentators who believe that even in the open ocean US carrier battle groups would not survive the initial stages of a serious conflict with China or Russia. 

As you note, the construction of aircraft carriers won't be outsourced to non-US shipyards, nor will a competing US shipyard be built.  Rather, the threat to HII is that in 10 years aircraft carriers and other large surface ships won't be built at all.  That being said, if you look at the free cash flow HII is likely to generate from the current order book over the next 5-10 years, what terminal value is actually being assigned to the business?

Viking

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Re: what are you selling today?
« Reply #543 on: October 08, 2020, 01:01:53 PM »
EQR, FTS, CU, FFH, FIH, SU

Happy to lock in small gains (4.5 to 10%).

FIH was break even; do like the opportunity long term. Learned it is not a good fit for what i want in my portfolio right now.
Sold 25% of SU (recently doubled position size).

Castanza

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Re: what are you selling today?
« Reply #544 on: October 12, 2020, 07:00:10 AM »
Closed DKNG put position. 26% gain
Core: MSFT | GOOG | INTC | PLTR | CMCSA | VZ | RTX | MSGS | BATRK | WFC | USB | PNC | BAC | TPL | PPL | PCYO | GRBK | PLNT | ATCO | ESPO | HACK

Funny Money: NIO

Gregmal

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Re: what are you selling today?
« Reply #545 on: October 12, 2020, 07:20:04 AM »
Exited RBACU and most of DDS

rkbabang

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Re: what are you selling today?
« Reply #546 on: October 12, 2020, 07:47:50 AM »
Sold 40% of my DDOG position and 20% of my FSLY position to get more than my original investment out in both cases.

thepupil

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Re: what are you selling today?
« Reply #547 on: October 15, 2020, 09:42:54 AM »
EMGC

they filed for bankruptcy for the 2nd time in 2 years.

it appears to be a pre-pack and the equity likely still has value, but filing for BK w/o a press release or description of who gets what is enough to see me out.

I am the patsy at the poker table; there could still be significant value; this is more of a liquidity rather than solvency thing. 

I realized a loss of 20%-50% on various lots of the small position that nevertheless stings.

the stock is only down 17% today, but the intraday range is big. I thought selling down 30% or 40% was rational for a bankruptcy filing and chose not to wait for more information. this could prove costly.

EDIT: Commentary on VIC more or less confirms I am the patsy and that the company should be okay
« Last Edit: October 15, 2020, 10:42:18 AM by thepupil »

Gregmal

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Re: what are you selling today?
« Reply #548 on: October 15, 2020, 12:14:56 PM »
Cut 1/3 of BEAM

thepupil

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Re: what are you selling today?
« Reply #549 on: October 15, 2020, 01:36:26 PM »
EMGC

they filed for bankruptcy for the 2nd time in 2 years.

it appears to be a pre-pack and the equity likely still has value, but filing for BK w/o a press release or description of who gets what is enough to see me out.

I am the patsy at the poker table; there could still be significant value; this is more of a liquidity rather than solvency thing. 

I realized a loss of 20%-50% on various lots of the small position that nevertheless stings.

the stock is only down 17% today, but the intraday range is big. I thought selling down 30% or 40% was rational for a bankruptcy filing and chose not to wait for more information. this could prove costly.

EDIT: Commentary on VIC more or less confirms I am the patsy and that the company should be okay

love the sequence here:

1. File for Bankruptcy
2. Then release the RSA (during market/work hours)
3. then release good quarterly results that show the thing still has value.

I hold myself accountable for reacting poorly and selling a stock down 30-40% when it ended up down 10%, but couldn't they have released an explanatory press release first? Is that too much to ask. Again, I'm the patsy. I'm the idiot who owned an already bankrupt Boca Raton based life settlements company. But c'mon.

also I love how the bankruptcy is a "subsequent event"

Quote
Subsequent Event

On October 15, 2020, Emergent and its wholly-owned subsidiary Red Reef Alternative Investment, LLC filed voluntary petitions for relief under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the District of Delaware. More information was disclosed by the Company in its Current Report on Form 8-K filed with the Securities and Exchange Commission on October 15, 2020.
« Last Edit: October 15, 2020, 01:39:22 PM by thepupil »