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What are you buying today?


LowIQinvestor

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Increased allocation to PKX today by 35% in my IRA. Looking to add more.

 

Not really a long-term view on the position as it was already one of my larger ones but I'm trying to get favorable tax treatment on the position since it's fallen so much from my cost basis (around $70). I'm buying shares in my IRA with the intent of selling the same number of shares in my taxable account at a later date (probably in the next 3 months or so).

 

Therefor, my exposure to the name will be elevated for the next few months as I accumulate shares in the IRA and wait to sell the shares in the taxable account to maximize the tax benefits.

 

 

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SDRXN (Sandridge Energy Inc Conv PFD 7% Perptl)

 

 

Thanks,

Lance

 

May I ask your rationale for buying SDRXN?  Also, did you consider SDRXP as well?  I am currently looking into buying SDRXP.  Do you worry about them suspending the common-stock dividend altogether?

 

 

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Sold short July $0.50 puts on ACI for $0.09 in my low P/B portfolio to put some of my cash to work.

 

18% yield for less than two months exposure for an equity that trades at just 7% of stated book value with a current ratio of 2.5x seems like a decent short term scenario to  me. Working to restructure debt due years out and bankruptcy is not currently being considered.

 

Owned the name before at $0.80 and sold out using call options for a total of $1.10 a month later. Hard to not want to keep entering this name and collecting volatility premiums from puts/calls while waiting for the news to hit.

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Sold all of my SB and rolled into an equal number of SBLK.

 

I still like SB better, but I need some short-term losses to offset some gains this year. SB has also outperformed SBLK by about 35% over my holding period meaning I can book the losses to offset gains, increase my exposure to the dry bulk on a percentage ownership basis across the industry, pay down some margin, and consolidate in a company that is cheaper on a relative basis.

 

 

Also, picked up a starting position in PDER to motivate myself to look into it more.

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GUD.TO

 

Right back to the level of 6 months ago when they announced the sale of their priority review.  Still not cheap but at least we are a little further along.  The company has already made 1 exit already which was quite profitable so some evidence he still "has it".

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Well, I guess two of us own VALE! LOL. Talk about out of favour!

 

I own it in my low-P/B portfolio. I have some shares purchased back in the high 5s and some puts sold against it at 6.50.

 

That being said - I don't know much about it. I don't do any research on these companies other than buying them under book value.

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Well, I guess two of us own VALE! LOL. Talk about out of favour!

 

I own it in my low-P/B portfolio. I have some shares purchased back in the high 5s and some puts sold against it at 6.50.

 

That being said - I don't know much about it. I don't do any research on these companies other than buying them under book value.

 

 

Do you run funds? People are paying you to put no effort into this?

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Well, I guess two of us own VALE! LOL. Talk about out of favour!

 

I own it in my low-P/B portfolio. I have some shares purchased back in the high 5s and some puts sold against it at 6.50.

 

That being said - I don't know much about it. I don't do any research on these companies other than buying them under book value.

 

 

Do you run funds? People are paying you to put no effort into this?

 

its my IRA so maybe "portfolio" was misleading. Nobody pays me to be lazy except the people selling me these stocks.

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sys, why bam?

 

bam is already my largest holding, i have a lot of confidence in the mgmt.

 

i'm trying to position myself to be a little more defensive (probably foolishly, but it feels good) and bam has come down a little, presumably off the news that they're raising capital.  i think they'll put the capital to good use, so i have no problem with them raising money.

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