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TMFUltraLong (99.98)

5 things I'm most grateful for on a day like today

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August 08, 2011 – Comments (22) | RELATED TICKERS: LIFE , S , GOOD

Yes the stock market put in its worst day since the credit crisis three years ago. Yes, margin calls are going up like white flags worldwide and roughly 1800 companies hit new lows according to Stockcharts.

And yet I can think of 5 things that I'm incredibly grateful for even on a day like this....

5. The opportunity to buy companies that I missed out on when the market rebounded off its 2009 lows

4. The Motley Fool for giving me a forum with which to share my ideas and the ability to share those ideas through the glory that is the internet.

3. The readers of my articles and ideas. Without readers these articles would fall on deaf ears and blind eyes.

2. My friends and family for supporting me through what has been a brutally difficult year in 2010.

1. Having had 30 wonderful years with my mother who passed away exactly one-year ago today. I thank her daily for everything she did for me.

Putting this into perspective, today's market madness really wasn't madness after all - it's just another day and there will be plenty more days to come just like it as long as I'm alive. Did I lose money today? You bet...same as nearly everyone else. But today is a good day all things aside. As my dad says...."life is good."

So tomorrow when the market opens.... relax and breathe a bit. Close your eyes if you have to. The market will still be there when you decide to open your eyes again.

TMFUltraLong

22 Comments – Post Your Own

#1) On August 08, 2011 at 7:52 PM, ChrisGraley (99.71) wrote:

+1 for mom

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#2) On August 08, 2011 at 7:55 PM, soycapital (62.52) wrote:

Good points Ultra:

Life is good!

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#3) On August 08, 2011 at 8:43 PM, ikkyu2 (99.40) wrote:

Did you sell at these prices (or get forced into a margin call?) If not, you didn't lose money, just market value.  

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#4) On August 08, 2011 at 8:51 PM, wcmMFool (< 20) wrote:

Days like today point out what is important.. right before someone dies.. you never hear them say... boy I wish I had more money.  Enjoy the memories of your mother.  She is watching over you still I am sure.  And think of this as a fire sale... great stuff for lower prices.

And thanks for the positive comments.... all the sky is falling is getting a bit much since we are all aware of the dark cloud overhead.

Smiles

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#5) On August 08, 2011 at 9:19 PM, PainterPoker (20.14) wrote:

Way to be Ultralong. Looking forward to what you might be picking up.

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#6) On August 08, 2011 at 11:06 PM, TMFUltraLong (99.98) wrote:

ikkyu2,

Just market value. I've been buying, not selling. When it is ethically appropriate I will discuss my purchases.

TMFUltraLong

 

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#7) On August 09, 2011 at 3:04 AM, memoandstitch (< 20) wrote:

Sorry, I wasn't following closely. Was 2010 a financially brutal year or was it related to your mother's departure?

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#8) On August 09, 2011 at 3:12 AM, TMFUltraLong (99.98) wrote:

memoandstitch,

It was related to losing my mom. I also lost my grandfather a few months later. Had nothing to do with money. Now this year......luckily still has 5 months to go =)

TMFUltraLong

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#9) On August 09, 2011 at 9:46 AM, zzlangerhans (99.73) wrote:

I'd rather read about "Five things that still suck" when the market goes up 600 points.

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#10) On August 09, 2011 at 10:40 AM, dwot (99.89) wrote:

So very sorry for your loss.  

You got everything right in your post as to what is important with items 1 and 2.  When cancer hits a loved one everyone hurts and there is such a feeling of being helpless.  It does make for a brutal time.  My sister-in-law is undergoing chemo right now and it seems so wrong that this happens to people who give so much...

It is evident how much your mother loved you and you must have awesome memories of the good times.  As hard as it has been, those are great things to have had.

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#11) On August 09, 2011 at 11:05 AM, kewlness (26.47) wrote:

Very nice post...

Since I'm not selling, I'm not worried as I bought into companies for a reason but it is always nice to have somebody to remind me to breath in such "holy $*@%" moments.

Thank you :)

 

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#12) On August 09, 2011 at 1:29 PM, Borbality (61.93) wrote:

+1 lost my mom to cancer in July 2007 (she was 47).

 

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#13) On August 09, 2011 at 1:47 PM, colddrink73 (98.87) wrote:

Gas in my car, food on the table, roof over my loved one's head.

Very nice post UltraLong!!!

lost my mom in '96

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#14) On August 10, 2011 at 12:03 AM, Morijo (27.19) wrote:

UltraLong, I'm a mom and if my son wrote something like your note on a community website, I'd know I had done my job well. She obviously did.

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#15) On August 10, 2011 at 4:31 PM, memoandstitch (< 20) wrote:

Ultralong, I'm sorry for your loss. But you have passed one of the hardest points in your life. I'm pretty sure you can deal with any financial problem (if any) this year.

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#16) On August 10, 2011 at 4:59 PM, clutch410 (37.19) wrote:

UL,

What are the ethics on reporting your picks here?

 

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#17) On August 11, 2011 at 12:52 AM, TMFUltraLong (99.98) wrote:

Clutch410,

There's a two day period following a stock purchase before I can make public statements about the purchase itself per Fool Disclosure. By Friday I should be able to discuss all of my moves.

TMFUltraLong

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#18) On August 11, 2011 at 1:03 AM, Mstinterestinman (45.36) wrote:

Ultralong sorry for your loss. I can sympathize my Grandpa passed recently and I grew up without my dad. As far as the markets just buy good companies and don't stare at the tickers.

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#19) On August 11, 2011 at 6:08 AM, RVredeling (< 20) wrote:

Good first article to read on TMF.. Your perspective on the events described in your post and also the current market conditions are commendable.. Greetings from Amsterdam & good investing to all..

 

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#20) On August 12, 2011 at 2:31 AM, TMFUltraLong (99.98) wrote:

Ok folks, per Fool Disclosure rules I am now allowed to discuss my trades during the past week.

Purchased Thompson Creek Metals (NYSE: TC).

Thompson just nailed its quarterly report this week. Molybdenum prices have been considerably stronger than even I had anticipated and costs were much lower this quarter. The company is expecting costs to rise into the second half of this year, but at something like 8 times forward earnings this makes a ton of sense. Plenty of value and a good play on Japan's reconstruction.

Purchased Bank of America (NYSE: BAC):

Yes... I have cajones! I've staggered my position by purchasing shares on Friday of last week and Monday. I also purchased calls which I quickly was rid of a few days later as they had become considerably out of the money. Thanks to high volatility levels I lost only the commission on that trade and exited at the same level I bought in.

Bank of America is dirt cheap, trading for roughly 40% of book value. It is perfectly capable of earnings somewhere in the neighborhood of $1.45-$1.65 in 2012 which places this around a forward P/e of less than 5. Well-capitalized, but dealing with Countrywide issues, this isn't going to turn on a dime, but these levels show significant upside if you ask me.

Purchased Akamai Technologies (Nasdaq: AKAM):

Ok, so I'm cheating here because I purchased Akamai almost 8 trading days ago, but it's a recent purchase that I might as well include. Akamai is also dirt cheap by my prospects. 13 times forward earnings with a growth rate of 11%-13%. The company increased its share buyback by $250 million and there's a lot of speculation out there that a wave of consolidation may hit that sector. Akamai is ripe with cash and still growing, yet traders are treating it like its done for good.

What I'm watching for an entry point:

Teva Pharmaceutical (Nasdaq: TEVA)
Cisco Systems (Nasdaq: CSCO)
Silver Wheaton (NYSE: SLW)
Aeterna Zentaris (Nasdaq: AEZS)

My plan is also to add to existing positions in:

Alliance Fiber Optic Products (Nasdaq: AFOP)
Golden Star Resources (NYSE: GSS)

Disclosure: Own AFOP, GSS, AKAM, TC, BAC

TMFUltraLong

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#21) On August 12, 2011 at 12:02 PM, clutch410 (37.19) wrote:

UL,

Any thoughts on ALIF or NIVS. Do we just go to sleep and wake up next year and hope they've gotten back to even?

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#22) On August 30, 2011 at 3:19 PM, Nahzuul (< 20) wrote:

Good points all. At what point do we stop stockpiling money anyway? How many homes, color television sets, computers and cars do we really need? When do we start to give something back? If you are so concerned about paper losses, you can sell, proving that you never should have been in the market in the first place.

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