james22 Posted February 7, 2020 Share Posted February 7, 2020 Added a little more BRK Ditto. 1.3x book is not a bad price for Berk esp. as it's a partially "defensive" stock with the cash and traditional businesses, and also exposed to market upside thru Apple Indeed, on a relative basis its a lot more exciting to me here at 228 than it was at 21x.xx prior to the market going apeshit. I've held cash to buy the P/B dips myself, but would have done better buying as soon as I could. 21X.XX < 228 Link to comment Share on other sites More sharing options...
boilermaker75 Posted February 7, 2020 Share Posted February 7, 2020 Wrote some BRKB 225-strike, Feb 21 expiration puts. Link to comment Share on other sites More sharing options...
rkbabang Posted February 7, 2020 Share Posted February 7, 2020 Added a little more UI. Market overreacting today to revenue miss. Numbers are still very good and they are continuing to buy back a lot of stock. Link to comment Share on other sites More sharing options...
ValuePadawan Posted February 7, 2020 Share Posted February 7, 2020 Finally dipped my toe in on Allied Irish Banks. Long term hold. Link to comment Share on other sites More sharing options...
gjangal Posted February 7, 2020 Share Posted February 7, 2020 Bought some SAVE, think it’s worth around 60 Link to comment Share on other sites More sharing options...
Lance Posted February 8, 2020 Share Posted February 8, 2020 Sold Litecoin and bought a small position in SKT. Thanks Lance Link to comment Share on other sites More sharing options...
kab60 Posted February 8, 2020 Share Posted February 8, 2020 Bought more Linamar, new position in AMA Group. Link to comment Share on other sites More sharing options...
Spekulatius Posted February 8, 2020 Share Posted February 8, 2020 Bought more Linamar, new position in AMA Group. AMA Group looks interesting. Auto repair rollup in Australia with maybe a long growth runway? https://amagroupltd.com/wp-content/uploads/2019/08/FY19-Results-Presentation.pdf I always enjoy learning about your ideas. Linamars results are very weak in their acquired industrial business, but their balance sheet is improving. It is interesting to learn about their efforts on electric vehicles in their latest investor presentations. *corrected for spelling Link to comment Share on other sites More sharing options...
Casey Posted February 8, 2020 Share Posted February 8, 2020 added to DFS, ALLY, BRK.B this week On Berkshire: I feel they should be buying back shares instead of trying to operate Buffet's elephant gun for 50 billion dollar acquisitions. Buffett & Munger have always emphasized looking for 1 foot high hurdles to step over instead of doing the more difficult thing. At their size, buybacks seem like the 1 foot hurdle. I think they will eventually come around to that. Link to comment Share on other sites More sharing options...
kab60 Posted February 8, 2020 Share Posted February 8, 2020 Bought more Linamar, new position in AMA Group. AMA Group looks interesting. Auto repair rollup in Australia with maybe a long growth runway? https://amagroupltd.com/wp-content/uploads/2019/08/FY19-Results-Presentation.pdf I always enjoy learning about your ideas. Linamars results are very weak in their acquired industrial business, but their balance sheet is improving. It is interesting to learn about their effects on electric vehicles in their latest investor presentations. Yep, something along those lines. There's a decent VIC writeup. They did a big and expensive acquisition, somewhat funded by equity, and then lowered guidance in December which tanked the stock. Management is an experienced operator with skin in the game, but capital allocation humhum (pays a divy but issues equity...). Acquisitions are cheap, but the big one in the fall was expensive (perhaps done somewhat to block a PE firm entering and getting a platform to go after AMAs bread and butter - Blackstone was close to buying AMA before). Linamars industrial results suck somewhat atm, their timing was definately poor with MacDon, but I think it will be a winner longer term and either way it seems like somewhat of a free option here. Auto is going through a rough patch, but that should mean they take share and come out stronger on the other side. Lowered guidance recently, and afterwards pretty heavy insider buying again. They also did a small investment a medtech company in December. Anyway, one is paying something like 6xdepressed earnings. Way below book value, and these Guys have been pretty good at capital allocation historically. They're branching out from auto, which I like, but it means there'll probably always be a conglomerate discount which is fine with me. I hope to put it away for plus 10 years and let them do their thing while I defer my taxes. Link to comment Share on other sites More sharing options...
Tuxedostyle Posted February 9, 2020 Share Posted February 9, 2020 ALT.PA - interesting situation in France with a potential catalyst next month (court of appeal decision on March 24). Elliott is involved and has 14% stake. Link to comment Share on other sites More sharing options...
Gregmal Posted February 10, 2020 Share Posted February 10, 2020 Added a little more BRK and SPG Link to comment Share on other sites More sharing options...
Lance Posted February 10, 2020 Share Posted February 10, 2020 Added to RDSb and WFC. New position in VLGEA. Thanks Lance Link to comment Share on other sites More sharing options...
sbalsam Posted February 10, 2020 Share Posted February 10, 2020 MLP Link to comment Share on other sites More sharing options...
Spekulatius Posted February 11, 2020 Share Posted February 11, 2020 Bought a starter in kab60’s AMA.AX. I also started small positions VIAC and STAY. Link to comment Share on other sites More sharing options...
kab60 Posted February 11, 2020 Share Posted February 11, 2020 Bought a starter in kab60’s AMA.AX. I also started small positions VIAC and STAY. Really can't say I'm an expert on AMA, but if anyone is intrigued there's a decent write-up on VIC. Reading the latest conference call is also a really good introduction (https://finance.yahoo.com/news/edited-transcript-ama-ax-earnings-144232794.html). They're basically the biggest player in an extremely fragmented and very resilent industry which they're rolling up by buying smaller mom and pops businesses at 3-4xebitda. It also sheds some light on as to why they paid up for their latest and biggest acquisition (structured sales proces with PE involved. They basically denied PE access to the industry by taking over the other big platform thus multiples on their bread and butter shouldn't increase due to competition). Bull case this is the Australian version of Boyd Income Fund in its infancy trading at some 6,3x 2021 ebitda versus 15-16x for Boyd due to temporary issues. Link to comment Share on other sites More sharing options...
peripatetic Posted February 11, 2020 Share Posted February 11, 2020 ALT.PA - interesting situation in France with a potential catalyst next month (court of appeal decision on March 24). Elliott is involved and has 14% stake. Is there a thread or writeup on this somewhere? Link to comment Share on other sites More sharing options...
CorpRaider Posted February 11, 2020 Share Posted February 11, 2020 ICE and Expedia, a couple of days ago. Seems like CME is a better business than ICE b/c of the futures (right now), but Sprecher seems like a beast to me. Obviously Barry Diller is strong like bull. Dara is still on BOD. I don't get why they decided to emphasize VRBO over HomeAway. Just "library card" positions, as Tom Gayner might say. Link to comment Share on other sites More sharing options...
Gregmal Posted February 11, 2020 Share Posted February 11, 2020 Added some MSB Link to comment Share on other sites More sharing options...
Spekulatius Posted February 12, 2020 Share Posted February 12, 2020 Bull case this is the Australian version of Boyd Income Fund in its infancy trading at some 6,3x 2021 ebitda versus 15-16x for Boyd due to temporary issues. The bold sentence is basically the very simplified bull thesis. Link to comment Share on other sites More sharing options...
james22 Posted February 13, 2020 Share Posted February 13, 2020 BRK Link to comment Share on other sites More sharing options...
kab60 Posted February 13, 2020 Share Posted February 13, 2020 Cast SA recently. Microcap, french software Company transitioning from perpetual licences to SAAS and recurring revenue. 55m market cap, 23m receivables that should be turned into cash in Q1. Spent some 150m on R&D over the years. Seems to be at an inflection that market has not caught up with (or fatique/lack of confidence in management). They've disappointed for years, seems like they're about to turn the corner with SAAS booking growing almost 200 pct in Q4 albeit from a low base and guiding for overall profitable growth of 20 pct in 2020. Low float, interesting shareholder composition. Think it's gonna go big or go private. :) Link to comment Share on other sites More sharing options...
Castanza Posted February 13, 2020 Share Posted February 13, 2020 BRK +1 Link to comment Share on other sites More sharing options...
Viking Posted February 13, 2020 Share Posted February 13, 2020 Fairfax India. Book value at Sept 30 was $13.53/share. The Anchorage/BIAL transaction will result in BV gain of $3.30/share. This takes book value to about $16.80. Fairfax India owns large stakes in IIFL Finance, IIFL Securities and IIFL Wealth. These are publicly traded companies. So far in 2019 (6 weeks) the stock prices of these 3 companies have increased about 45%. At Dec 31 their combined value to Fairfax India was about $400 million. Today they are worth about $590 million = $190 million gain. With 153 million shares outstanding for Fairfax India the increase in the IICL companies is about $1.20/share. Bottom line, book value of Fairfax India as of today is likely approaching $18.00/share. Shares are trading today at $12.45. Looks like a decent margin of safety to me :-) From Fairfax India Dec 16 press release: “As a result of the transaction, Fairfax India will record investment gains of approximately $506 million (approximately INR 35.6 billion at current exchange rates) implying an increase in book value per share of approximately $3.30 per share. The investment gains are supported by positive operational developments at BIAL. For the 12-month period ending October 2019, total traffic at BIAL was approximately 33.7 million passengers. The second runway commenced operations in December 2019, making BIAL the first airport in India to operate independent parallel runways that enable aircraft to land or take-off simultaneously on both runways. In addition, the expansion project for a second terminal at BIAL is expected to be completed in 2021.” Link to comment Share on other sites More sharing options...
Dynamic Posted February 13, 2020 Share Posted February 13, 2020 BRK +1 +2 Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now