Gregmal Posted August 7, 2019 Share Posted August 7, 2019 Busy day. Opened ESGR, ILMN, added BUR Link to comment Share on other sites More sharing options...
BG2008 Posted August 7, 2019 Share Posted August 7, 2019 Berry Global Link to comment Share on other sites More sharing options...
kab60 Posted August 7, 2019 Share Posted August 7, 2019 Entercom (market puking like it's Burford!) Company is overly indebted + terrestrial radio is a no growth industry. That said, the price action today does seem extreme. The amount of (very underwater) stock the Chairman of the Board has purchased in the open market since the CBS transaction is insane. Leverage is high, but as recently as April they issued bonds at 6,5% due 2027 and got more favorable terms on their term loan. Those bonds traded ABOVE par today, so there's a big discrepancy between bond investors and equity investors - I'm betting the equity guys are acting hysterical. Also picked up some Gray Television (shoutout to Packer). Trading 15/share while generating 4 dollar per share in FCF - and guiding for higher next year. Those bonds are also trading like it's smooth sailing. Link to comment Share on other sites More sharing options...
kab60 Posted August 7, 2019 Share Posted August 7, 2019 Berry Global What are your thoughts on volume declines? Link to comment Share on other sites More sharing options...
RuleNumberOne Posted August 8, 2019 Share Posted August 8, 2019 Agreed. In times like this and 2008, the national motto is "In Buffett We Trust" Again, BRK.B & WFC Link to comment Share on other sites More sharing options...
boilermaker75 Posted August 8, 2019 Share Posted August 8, 2019 Wrote some BRKB 195-strike, Aug. 9 expiration puts. Wrote BRKB 197.5-strike Aug 9 expiration puts Link to comment Share on other sites More sharing options...
Saluki Posted August 8, 2019 Share Posted August 8, 2019 Bought some more BRK and PBF again today. I have a resting limit order in for some IPI too, but hasn't been filled yet. Link to comment Share on other sites More sharing options...
longlake95 Posted August 8, 2019 Share Posted August 8, 2019 Added to BERY, KMI. Starting position in SNC.TO Link to comment Share on other sites More sharing options...
alpha Posted August 8, 2019 Share Posted August 8, 2019 SU.TO I was wondering if Suncor was one Berkshire would consider acquiring (in its entirety, they already own a small position). I had noticed a bunch of private jet traffic between Omaha and Kelowna, but since Suncor is not located there I suppose it is unrelated... Only other frequent/recent NetJets trips to Omaha were from Van Nuys. Berkshire always seems to be poking around the oil sands but never makes big direct investments, they seem more interested in selling the shovels. Kelowna is pretty popular with Albertans it could just be Abel visiting family etc... Link to comment Share on other sites More sharing options...
Spekulatius Posted August 8, 2019 Share Posted August 8, 2019 I think Buffet hates commodity business , after all they are just price takers. Link to comment Share on other sites More sharing options...
rayfinkle Posted August 9, 2019 Share Posted August 9, 2019 Is anyone familiar with DXC? Stock is tanking today. I've followed at arms length for a while but am trying to brush up quickly. Thanks in advance! Link to comment Share on other sites More sharing options...
boilermaker75 Posted August 9, 2019 Share Posted August 9, 2019 Wrote some BRKB 195-strike, Aug. 9 expiration puts. Wrote BRKB 197.5-strike Aug 9 expiration puts Wrote BRKB 195-strike Aug 16 expiration puts. Link to comment Share on other sites More sharing options...
kab60 Posted August 9, 2019 Share Posted August 9, 2019 More Bery, More LNR Link to comment Share on other sites More sharing options...
Sportgamma Posted August 9, 2019 Share Posted August 9, 2019 Upwork Link to comment Share on other sites More sharing options...
Spekulatius Posted August 9, 2019 Share Posted August 9, 2019 Is anyone familiar with DXC? Stock is tanking today. I've followed at arms length for a while but am trying to brush up quickly. Thanks in advance! Familiar is too strong of a word, but I have owned them for a little while. I was attracted by the cheap metrics. I sold after reviewing the first earnings after they announced their LXFT acquisition , which had not closed yet at that time. ( it was a negative earnings surprise). I felt this was quite complex and the business may be in rapid decline. Also, the Luxoft acquisition felt like a desperate measure. I exited flat, so avoided this dumpster fire. This company feels like a bunch of crappy IT companies held together tight duct tape. The buybacks have significantly worsened their balance sheet. I don’t feel like I have a handle if this can turn around and managment isn’t exactly inspiring either. Link to comment Share on other sites More sharing options...
Gregmal Posted August 10, 2019 Share Posted August 10, 2019 AYR. Earnings from the cannabis companies this quarter have been incredibly robust, so I like this ahead of numbers. The peer group trades 30x EBITDA so with AYR pretty easily punching out 80-100M EBIDTA NTM, I like my chances here. Link to comment Share on other sites More sharing options...
Spekulatius Posted August 13, 2019 Share Posted August 13, 2019 Bought back some WAB. Price seems under pressure after the secondary (GE liquidating shares they received as a merger consideration). Starter in BNTGY (Brenntag). Small adds to BRK and WMB. Link to comment Share on other sites More sharing options...
villainx Posted August 13, 2019 Share Posted August 13, 2019 Again, Can I ask for your view on EW and its prospects? It's not a company that gets a lot of analysis or opinion. Link to comment Share on other sites More sharing options...
DooDiligence Posted August 13, 2019 Share Posted August 13, 2019 Again, Can I ask for your view on EW and its prospects? It's not a company that gets a lot of analysis or opinion. I'm not a very good or diligent analyst & tend to go with my gut on a lot of things. My thoughts on Edwards will be riddled with bias based on the fact that it has been the single most successful investment I've ever made. I bought Edwards back in 2013 when they were going through a patent dispute over the TAVR (trans-aortal valve replacement) with Medtronic. They prevailed in the suit & have since made acquisitions which got them into mitral with the PASCAL & Cardioband products. Mitral is proving to be much more difficult but has more potential patients. Their main product is tissue vales & they also offer the newer minimally invasive trans-catheter products. The pivotal acquisition which got them into the Sapien market was done at a quarter of what Medtronic paid to acquire the same technology. The minimally invasive Sapien valve replacements are approved for use on patients who can't tolerate having their chests opened for a traditional procedure & recently the company's Sapien valve has expanded its indication to include the intermediate risk pool, and is expected to include low surgical risk patients soon. Continued domination of the tissue valve market & the expansion of indications to lower risk patients & eventual (maybe) mainstream use of minimally invasive valve replacements are what I pin my hopes on.. Sales reps are highly trained & sit in on procedures. I remember reading something that said they tied sales reps compensation to successful procedures instead of sales volume but this may be faulty memory as I can't find any reference. Gross margins have increased steadily. I like that they rely more on organic growth. Slow & steady buybacks. Executive compensation that seems aligned with shareholders. Bonuses are tied to revenue & FCF instead of earnings. Their main competitors are Medtronic, Abbott & Boston Scientific. Morningstar has a pretty comprehensive writeup with potential negatives.EW_:_Edwards_Lifesciences_Corp_Analyst_Report_|_Analyst_Report_2019-08.pdf Link to comment Share on other sites More sharing options...
villainx Posted August 13, 2019 Share Posted August 13, 2019 Again, Can I ask for your view on EW and its prospects? It's not a company that gets a lot of analysis or opinion. I'm not a very good or diligent analyst & tend to go with my gut on a lot of things. My thoughts on Edwards will be riddled with bias based on the fact that it has been the single most successful investment I've ever made. .... Thanks! I've been looking at it for awhile, but haven't gotten super comfortable yet. Link to comment Share on other sites More sharing options...
DooDiligence Posted August 13, 2019 Share Posted August 13, 2019 Again, Can I ask for your view on EW and its prospects? It's not a company that gets a lot of analysis or opinion. I'm not a very good or diligent analyst & tend to go with my gut on a lot of things. My thoughts on Edwards will be riddled with bias based on the fact that it has been the single most successful investment I've ever made. .... Thanks! I've been looking at it for awhile, but haven't gotten super comfortable yet. I think the price is way too high ATM & I sell a little every now & then to keep the allocation down. It just keeps going up. Link to comment Share on other sites More sharing options...
BG2008 Posted August 13, 2019 Share Posted August 13, 2019 GRIF Link to comment Share on other sites More sharing options...
Broeb22 Posted August 13, 2019 Share Posted August 13, 2019 CVET Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted August 13, 2019 Share Posted August 13, 2019 Cash. Following the sale of 20% of my S&P 500 puts. Waiting for 30+ VIX to sell more. Repurchased put positions. Link to comment Share on other sites More sharing options...
Ahab Posted August 13, 2019 Share Posted August 13, 2019 PCG puts, wish me luck. Link to comment Share on other sites More sharing options...
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