September 2010
September 26, 2010 –
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RELATED TICKERS: WFC
, USB
, BBT
I just bought some shares in Wells Fargo. I missed the chance to buy the stock at $9 in the middle of the crash. The government intervened successfully, and now everyone's decrying socialism, but face it - a number of banks could have gone to zero. Wells probably would not have, but hindsight is 20/20. For the record, I think the next victim would have been Citi. [more]
September 24, 2010 –
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RELATED TICKERS: O
I started buying Realty Income in 2008, when the stock dipped below $26. I automatically reinvested the dividends and bought more in the lower $20s during the crash. I haven't picked it in CAPS, but Realty is one of the best performers in my real life portfolio. Counting dividends, I am up a total of 43% from when I started buying. [more]
September 22, 2010 –
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RELATED TICKERS: ADBE
Adobe posted results that were disappointing enough to send the stock down 20%. Perhaps bargain hunters will pile in tomorrow, but I don't think the stock is quite cheap enough yet. [more]
September 22, 2010 –
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RELATED TICKERS: KMX
, F
Carmax posted results today that the market seems to be happy about. In particular, their comparable store sales rose by 4% from last year - and last year's sales were boosted by the (worthless, imo) Cash for Clunkers tax credit. Furthermore, CarMax Auto Finance's operating margins rose by a percent. [more]
September 21, 2010 –
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RELATED TICKERS: ARNA
, F
Arena had an FDA panel decision go the wrong way. [more]
September 16, 2010 –
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RELATED TICKERS: APOL
With for profit education being in the spotlight (in a bad way), I sold a $55-45 put spread on Apollo, expiring January 2011. I chose a put spread because I wanted to protect myself against any tail risk to Apollo - for example, drastic actions by the government that seriously damaged their business. [more]
September 14, 2010 –
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RELATED TICKERS: UPL
, SE
, RIG
In this article, Morningstar notes that a number of the top-rated fund managers they track have been wading into energy stocks, possibly taking advantage of a dip from the Deepwater Horizon disaster. M* analysts actually don't agree with many of the buys. Fund managers bought Occidental, BP, Patterson-UTI, Suncor and Apache, but all aren't trading at sufficient discounts for the M* crowd. [more]
September 09, 2010 –
A while back, I suggested selling puts on Western Union, which is a bullish position on the stock. I sold the November 2010 $15 puts at $1.50, which meant that I agreed to effectively buy the stock at $13.50 if it fell below $15. Since then, the price of those puts has declined to $0.50 or less. I closed that position. [more]
September 07, 2010 –
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RELATED TICKERS: EPD
, EPE.DL
, ETE
Somewhat unexpectedly, Enterprise Products Partners (EPD) offered to buy its general partner, Enterprise GP Holdings, out. EPE holders will get 1.5 EPD units. [more]
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