Gregmal

Is that based on their twitter feed where they haven't disclosed the position? The tape dont lie. This one just got really interesting. Not entirely surprised given the accounting complexities, AIM listing, and general lack of liquidity that this became an easy target for a short raid.

Muddy Waters Short

Also added some more CLF calls (glutton for punishment) and am eyeing some $150 BRK calls if we get a little closer to $190

FRPH

Well, at the least I hope now people can stop fooling themselves with twisted logical narratives about Warren's secret strategy with the buybacks. At or around these prices, it is clear he has no interest in allocating meaningful capital to buybacks.

repurchased some CLF

Off the top of my head, as of a few years ago something like 70% lost money after the first year and 85%+ over a longer period of time I forget. Some of the ones that worked from recollection would be Tile Shop(now in the bust category though), Del Taco, Twinkies(Hostess), AYR(although this is still early). Easier to just be an IPO investor, cash out, and play the free warrants.

Did you buy JOE in December? If so, you did great. I'm still a holder. Been selling off a little of HHC. Still like the company and the assets, but I see some cheaper stuff out there and I'm overweight in real estate (also own SRG and TPHS). Same deal for me, just somewhat different names. Too much cheap real estate. If I can easily determine a real estate company is sitting on assets(or debt) that won't turn the equity into a 0, just wait for a big enough pullback or margin of safety and then buy it on margin. The downside is not all of those can be long term holdings.

100% with Google. The greatest investment might have been Youtube which at the time some thought would destroy the company. Waymo has been great and specular in its own right in that it isn't really something that has relied on the existing user base. Although Waze does help with it. Thats been a project that to me, has validated their ability to go outside the core business and put something real together. Entire sectors dinged when AMZN announces its looking into a new business venture, so I argue this is priced into AMZN. Netflix I guess I just fail to appreciate, but outside of first mover status, I fail to see what keeps others from taking that space eventually. Content is king. Disney and ATT have made HUGE moves in the past few years. They're playing the long game. Microsoft is just a beast. I've never appreciated it for how diverse it's businesses are until it went bonkers. I remember looking at this in maybe 2013 at $35 or so and thinking it would outperform an index but not by much. Totally wrong. They've got nearly a dozen billion dollar businesses and the scale to do whatever they want. Interestingly enough they also seem to escape any anti trust talk. FB to me is a ticking timebomb. They have the users but growth just shifts from one(FB) to another(Instagram/Whatsapp) business and eventually needs to be more than just an ad company who does sketchy shit with your info. To me they resemble Google when all they had was search.

Buying OR selling based on a rate cut/hike is pretty stupid. Plenty of people here(well maybe not plenty, but a few) made a fortune when the idiots took over in November/December because of a meaningless rate hike... Same thing.

Bought some MSGN and MSB with proceeds from NVTA. Broadly speaking, today is just another example of what happens when retards take control of the stock market. Opportunity for the rest of us. If you were "surprised" by the widely expected rate hike and decide to just start dumping everything, you might as well just give me your money now...

Heroic call. Most here where too busy getting rich in BRK, FRFH, and SHLD... Congrats

Goog point pupil. I recall hearing a lot of the same thing around 2012 and then taking a peek at many of the market favorites. My thoughts were basically the same. WTF are people talking about? Most of these companies are HUGELY net cash.... I see more or less the same today, just to a slightly lesser extent.

Sold last of my NXPI premarket at 102. Busted merger play that ended up producing a respectable shorter term IRR after trading around it(December helped big time). Noticing a trend with this company that I'm not a fan of, and I'm already overweight GOOG, GM, and CIBR, which roundaboutly cover all the things I felt I liked about NXPI. EDIT: Also sold last of my JOE; again, thanks December!

600M of pixydust FCF and 2.4B of dilution against a what? 70B-ish EV? Hooray value!

LOL dont be so harsh. Its really, like probably, like only 78x Elon's pixydust adjusted, non-GAAP earnings for 2020.

Ive long believed that if you want to invest with somebody, you want to invest with a guy who has a great track record of individual stock picks rather than some prescient macro calls. Making a big macro call once every dozen years gets you a ton of publicity that, even to this day, still helps guys like Paulson and Kyle Bass. But its smoke in mirrors and usually reflective of a failed strategy. Give me the guy who's picked 3 multi baggers or special situation plays with 100%+ IRR's in the past 5 years.

From my understanding it is the Board, with the general direction nudged by Dolan. The CEO departure was a little surprising, but if there is a company where the management team really isn't all that important to me, it is this one. Its never going to be an EPS darling. Operationally they never really make a ton of money. It's solely about one of a kind assets and being given by my estimates, at least a 30-50% discount. I've been a part of this basically since the spin from Cablevision. I still own MSGN and added to it recently. Thats the cash flow monster. I almost feel as if the split of MSG and MSGN was a stupid short term move done to appease the Wall Street jerk offs. Sperately, MSGN is a machine, but boring. MSG is exciting and unique but really doesnt make much money. As one they were kind of perfect IMO because they each balanced out the weaknesses of the other. I'd also mention, that for all the crap Dolan gets for being a whacko, the part about him being anti shareholder is a classic misconception. Take a peak at how you'd have done being invested in any of the Dolan companies or spin outs. The track record is pretty awesome. MSG is his baby. I know my comment to your post, but as a recent shareholder (with just a small starter position), I feel that the current structure of splitting MSG and MSGN makes now sense. The split certainly hasn’t created much shareholder value. MSG got a big cash dowry and the cash flow monster MSGN carries some debt, but this seems an inefficient structure. If the two were combined, there wouldn’t be much debt left and whatever is needed could be dealt with a cheap mortgage and the cash flow from MSGN could be used to reinvest in the business. This probably would result in a more tax efficient structure. Anyways I don’t own enough worry much about it, but it’s s Great asset and I hope Mr Market gives me and opportunity to acquire more shares some day. It makes sense short term because you force the market to assign values. It is like the upcoming split with MSG and the entertainment company(which I love btw bc the entertainment biz is a capital intensive shitshow that does have substantial upside, but an entirely different profile than what I want to be investing in here). But anyhow, right now, you've got 6.5B or so in market cap. Give the $1B cash to the less valuable company, and keep the sports teams by themself. Do the Knicks and Rangers combined with the real estate trade for under $5B? Does the entertainment and ~$1.2B cash trade for less than $1.5? If so you have clear mispricings and if not you make money from here. But longer term you loses synergies.

Marketing geniuses and value creation jerk offs...

Probably about what 5/50 on your brokerage account translates to after turning out 30% for the year.....

Whats the reason for the switch? You see more upside with PayPal? Long term yes. Short term also capitulating to any bearish ideas. The original idea was to invest in some recession-resistant dividend paying companies with at least some pricing power. But growth has totally outperformed this idea. Mostly I think I need to move towards a more passive (indexing) option, at least for the near term (3-5 yrs I'd guess). Over the last year I haven't really had the time/energy/pleasure to actually do any investment research, and the results reflect it. Even worse, I haven't really cared... The reality is given my situation (age, net worth) my ROI is higher concentrating on my career than on my portfolio (ROI both in terms of amount and volatility of cash inflows). Something about whole-assing one thing vs. half-assing two things ;D ;D Its OK LC. Ill manage your money for 5/50 and show you how its done. I do for a lot of liberals.

Sold a little CRSP and swung proceeds into MSB.

I thought the same too until I tried it. It’s just chicken but it’s awesome and relatively speaking, healthy in comparison. I have one of my offices in Parsippany, and 5 minutes away a new Chic-fila opened. One of the few in NJ. The Spicy Chicken sandwich is 450 calories and no lie, I grab 2 a day for lunch at least twice a week. Happily waiting 20 minutes for the drivethru as the lines are always insane. Somehow incredibly, when I visit Florida, these restaurants are scattered every 5 miles. And yet, they’re always packed and there’s always a wait. On the other side, I have a few family contacts with pretty extensive knowledge of the operations, and the franchising options, as an investor are just not very attractive or friendly. If you want to give up your day job and run a restaurant, IE wearing the uniform and dealing with customers, you can make a good but not spectacular living. Like 150-200k as an owner operator. But if you ever want to sell or move on, the terms are quite onerous. These guys are not interested in having investors, just hardcore fans and owners who care. Probably part of the secret sauce.

+1 on the Chinese superstores. Kam Man Market in Hanover is tremendous. Worth the 40 minute hike for me. I’m a sucker for different types of rice and noodles as well so it’s great. I’ve heard great things about Restaurant Depot, but I’ve heard you need a restaurant license or something to that effect for membership. I’ve got a few buddies who own restaurants and occasionally grab me stuff from there. But from everything I’ve heard, including what you’ve stated, I’m sure I’d be like Lamar Odom in a whorehouse if I ever got a membership there.

Thats probably the only thing I regret missing out on by not being in the city. Once you get outside of the high density urban areas, great speciality seafood places go extinct. Largely for the reasons you cited in your post. The result, is that the only real options for seafood are probably(in order) Costco, and then Shoprite/Stop and Shop. I kid you not. Where there is an occasional fish market type store, its stuff like Peter's Seafood in Midland Park, NJ. Average selection and 40% overpriced simply because its the only true seafood market in the area. So you'll just never get the environment you just described with Astoria Seafood. Otherwise for some real good stuff, its ordering in overnight lobsters from Maine at $13 a pound or getting whole Lionfish from south Florida for around $15/lb. Both totally worth it but the hassle means eating your average run of the mill stuff like Salmon and Cod most of the time.