plato1976 Posted November 11, 2013 Share Posted November 11, 2013 It's so easy to find ... just search "GNCMA corner of berkshire" on google... no tip needed, btw GNCMA today (thanks Packer!) There is no topic on that that I could find. Could you elaborate? A very quick view showed a small-cap (<$400M) company in the telecom industry (not the most loved industry right now) with a high PE but low forward PE, negative free cash flow, high (>1$B) in debt, low (<2%) margins, low ROE (<10% but growing), insider buys and a recent earnings call. What got you excited? :) Link to comment Share on other sites More sharing options...
fareastwarriors Posted November 12, 2013 Share Posted November 12, 2013 GNCMA today (thanks Packer!) There is no topic on that that I could find. Could you elaborate? A very quick view showed a small-cap (<$400M) company in the telecom industry (not the most loved industry right now) with a high PE but low forward PE, negative free cash flow, high (>1$B) in debt, low (<2%) margins, low ROE (<10% but growing), insider buys and a recent earnings call. What got you excited? :) the topic is there. http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/gncma-general-communications/20/ also related on ALSK http://www.cornerofberkshireandfairfax.ca/forum/investment-ideas/alsk-alaska-communications/msg140589/#msg140589 Link to comment Share on other sites More sharing options...
wachtwoord Posted November 12, 2013 Share Posted November 12, 2013 It's so easy to find ... just search "GNCMA corner of berkshire" on google... no tip needed, btw GNCMA today (thanks Packer!) Sorry Plato, I used the forum search function thinking it worked (it doesn't find anything on "GNCMA"). I'll use Google from now on, thanks! (and no need to get grumpy ;)) There is no topic on that that I could find. Could you elaborate? A very quick view showed a small-cap (<$400M) company in the telecom industry (not the most loved industry right now) with a high PE but low forward PE, negative free cash flow, high (>1$B) in debt, low (<2%) margins, low ROE (<10% but growing), insider buys and a recent earnings call. What got you excited? :) Link to comment Share on other sites More sharing options...
T-bone1 Posted November 12, 2013 Share Posted November 12, 2013 TTWO - not a traditional value stock in any sense, but it looks to be cheap, have a moat, and undergoing positive fundamental changes Also added some CHK after earnings fallout Link to comment Share on other sites More sharing options...
plato1976 Posted November 12, 2013 Share Posted November 12, 2013 Hi, T-bone1: What do you think about the accounting issues raised in http://glennchan.wordpress.com/2013/10/21/chesapeake-chk-is-this-really-a-long/ /Plato1976 TTWO - not a traditional value stock in any sense, but it looks to be cheap, have a moat, and undergoing positive fundamental changes Also added some CHK after earnings fallout Link to comment Share on other sites More sharing options...
petey2720 Posted November 12, 2013 Share Posted November 12, 2013 Bought CRUS today Link to comment Share on other sites More sharing options...
newyorkminute Posted November 12, 2013 Share Posted November 12, 2013 Bought 30 CSD shares today. Link to comment Share on other sites More sharing options...
T-bone1 Posted November 12, 2013 Share Posted November 12, 2013 Hi, T-bone1: What do you think about the accounting issues raised in http://glennchan.wordpress.com/2013/10/21/chesapeake-chk-is-this-really-a-long/ /Plato1976 TTWO - not a traditional value stock in any sense, but it looks to be cheap, have a moat, and undergoing positive fundamental changes Also added some CHK after earnings fallout Those issues are real, but they have literally been known about for 10 years. I think full cost accounting actually makes more sense for shale assets than successful efforts accounting, but like most things, it can be gamed. CHK has always capitalized just about anything they could, and the FWPP was a misguided attempt to align executives with shareholders in the wildcatting days that turned into a huge leveraged compensation scheme that served no purpose. The midstream and VPP liabilities are quantifiable and reasonably small (a few hundred million). To step back and look at the bigger picture, this is a company being run from the top by a board hand-picked by Mason Hawkins and Carl Icahn, both of whom have been buyers at these prices. The new CEO seems very capable and is saying the right things (specifically he is talking about ROIC and cleaning up complications rather than growth and meeting street expectations). I like the assets, have zero concerns about the accounting or current management team/board, and think there is a lot more improvement to come. Everyone agrees CHK need to do more work on costs and simplification. The stock went down after earnings because they are concentrating on that (at the expense of short term production growth). I think that is an opportunity. Link to comment Share on other sites More sharing options...
argonaut Posted November 12, 2013 Share Posted November 12, 2013 I will add my .02 regarding McClendon's profit participation. While large was not that unusual in type...I was in the homebuilding industry in FL decades ago when banks and homebuilders were booming and there were all sorts of profit participation clauses with banks, investors, developers etc each sharing small kickers. This was before stock options really took off as a compensation form. Link to comment Share on other sites More sharing options...
Lance Posted November 13, 2013 Share Posted November 13, 2013 I wrote puts on Annaly Capital Management, Inc. (NLY) this morning and bought FFH this afternoon. Thanks Lance Link to comment Share on other sites More sharing options...
fareastwarriors Posted November 15, 2013 Share Posted November 15, 2013 Bought some BAC commons, yesterday... Link to comment Share on other sites More sharing options...
Lance Posted November 18, 2013 Share Posted November 18, 2013 I sold calls on RDS.b (Royal Dutch Shell) this morning. Thanks Lance Link to comment Share on other sites More sharing options...
Lance Posted November 26, 2013 Share Posted November 26, 2013 I wrote puts on AIG and ACI (Arch Coal, Inc.) this morning. Thanks Lance Link to comment Share on other sites More sharing options...
jm25 Posted November 26, 2013 Share Posted November 26, 2013 I wrote puts on AIG I plan on writing some more puts today. If you don't mind me asking - what maturity are you looking at? And what price range? I've already written some Jan/14 puts. Link to comment Share on other sites More sharing options...
fareastwarriors Posted November 26, 2013 Share Posted November 26, 2013 Bought some FIAT yesterday and sold some NTRI. Link to comment Share on other sites More sharing options...
Palantir Posted November 26, 2013 Share Posted November 26, 2013 I am looking at Philippine LD Telecom (PHI). I like that it is cheap on a cash flow basis, but I don't believe the firm has that great of a reputation. Link to comment Share on other sites More sharing options...
wescobrk Posted November 26, 2013 Share Posted November 26, 2013 Bought some BAC commons, yesterday... Feat warriors, thanks for sharing. Just curious, what do you see today that you didn't see a month ago regarding bac or did you just have some new cash come in and not able to buy 2 weeks ago? Link to comment Share on other sites More sharing options...
fareastwarriors Posted November 26, 2013 Share Posted November 26, 2013 There are many times where I can't buy certain companies due to work restrictions. Then I would have to wait until the company is off the restricted list. The restriction can last a day or weeks... It really kills the timing of my purchases sometimes because I can't take advantage of the price volatility. It is also a reason why I can't comment much on many topics especially with regards to specific companies. Our compliance department is extremely strict (for good reasons). With that said couple of reasons: ERICOPOLY's enligtening comments on BAC thread, the JPM settlement, and some cash came in. Link to comment Share on other sites More sharing options...
wescobrk Posted November 26, 2013 Share Posted November 26, 2013 Sounds good. I'm still greater than 100 per cent notional in taxable account but only about 10 percent in Roth. The stock could continue to climb but I'm hoping the market starts to discount in the taper in jan or feb. We saw 6 percent pull back in general market starting in late may of this year on news of a taper. I think we will see at least 6 percent this time. The 100k question is if they will actually taper in march. We'll see. Link to comment Share on other sites More sharing options...
frommi Posted November 26, 2013 Share Posted November 26, 2013 Bought CHRW and stocked up on NTT. Link to comment Share on other sites More sharing options...
TwoCitiesCapital Posted November 26, 2013 Share Posted November 26, 2013 Recent purchases in the last month: DSL - Doubleline income solutions fund NLY - Annaly BSBR - Banco Santeder Brazil SAN - Banco Santander LCSHF - Lancashire SHLD - Sears holding Not a particular purchase today, but I'm slowly accumulating more DSL, BSBR, with a little SAN overtime through monthly dividend reinvestment. Also, will likely be adding to ATUSF soon. Link to comment Share on other sites More sharing options...
Nnejad Posted November 26, 2013 Share Posted November 26, 2013 Bought CHRW and stocked up on NTT. If you don't mind my asking, why NTT and not DCM? Link to comment Share on other sites More sharing options...
LowIQinvestor Posted November 26, 2013 Author Share Posted November 26, 2013 TEO- Telecom Argentina SA- good price today! Link to comment Share on other sites More sharing options...
gjangal Posted November 26, 2013 Share Posted November 26, 2013 fbrc, cheap, just bought back 650,000 shares. If you don't mind sharing your thesis on FBRC. From their most recent 10-K their Agency commissions which used to be a significant portion of revenues is declining because of electronic trading ( 117mn in 2008 to 33mn in 2012) The most recent 10Q's also seem to be pointing to this. Offsetting this decline is the capital markets revenue which is strong given current market conditions. The buybacks seem to support CrestView LP reducing the stake in the company. Link to comment Share on other sites More sharing options...
Lance Posted November 26, 2013 Share Posted November 26, 2013 I wrote puts on AIG I plan on writing some more puts today. If you don't mind me asking - what maturity are you looking at? And what price range? I've already written some Jan/14 puts. jm25, I wrote puts on the Feb/14, $50s at $2.55. Thanks Lance Link to comment Share on other sites More sharing options...
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