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ikkyu2 (99.51)

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November 24, 2009 – Comments (5)

Some of you like to know when my asset allocation changes. I am about 75% in cash at the moment, having taken profits in positions in PSEC, MO, PM, FBT, OLN and GHM.  I have no meaningful long equity positions left except for a small position in KNM (that keeps getting smaller) and a small position in GHM; most of what isn't cash is in 3 funds: convertibles, high-yield corporate, and foreign sovereign debt.

I have no concrete plans to reinvest until 4Q earnings season is done, but we are always keeping our eye out for a good valuation.  Haven't seen one of those in a while, although I am eyeing MDT.

What are you guys looking at for a quick long-side trade lately?  Anything on your radar? 

5 Comments – Post Your Own

#1) On November 24, 2009 at 1:10 PM, ikkyu2 (99.51) wrote:

I've not done too terribly with these investments, by the way; I am back to where the account peaked, which was what, Oct 2007 or thereabouts.  Wish I'd done better, but I was too afraid to trade much around March '09; at least I had the sense not to sell everything.

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#2) On November 24, 2009 at 2:12 PM, lemoneater (90.51) wrote:

Thanks for sharing what you do with your real holdings. Knowing when to sell is still something I'm learning.

I have TTM (Tata Motors) which is doing very well. I will be interested to see what information comes back from the India trip. Wishing you a Happy Thanksgiving.

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#3) On November 25, 2009 at 12:37 AM, streetflame (30.94) wrote:

"What are you guys looking at for a quick long-side trade lately?  Anything on your radar?"

Insurance: FSR, AWH, VR, FFH, MIG, AGII, MHLD, SBX, etc.  Fairly low P/E, P/B across industry still (ignoring the gigantic losses taken by the stupider companies).  Rates are still on the soft side, so operating earnings have room to improve quite a bit.

Energy utilities: MIR, AEE, NRG, etc.  Beaten down more than they deserve.

Australia: several ASX traded stocks like IPL.AX (fertilizer), CNA.AX (coal). BPT.AX (oil), SDG.AX (real estate), ABQ.AX (retail). Generally an underfollowed market.  Structurally strong.

Chinese smallcaps and microcaps: NEP, SGZH.OB, CSR, CMM, WH, QXM, LTUS.OB, CYXN.OB, CHFI.OB, etc.  The ones I follow have had a rough couple of weeks but are still up over 100% over the last 6 months, and there are still profitable companies trading for less than 6x earnings and 1x book.

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#4) On November 25, 2009 at 12:49 AM, portefeuille (99.78) wrote:

Insurance: FSR, AWH, VR, FFH, MIG, AGII, MHLD, SBX, etc.

Have a look at Allianz (AZSEY.PK, ALVG.DE, ALV:GR), AXA (AXA, AXAF.PA), Munich Re (MUVGn.DE, MUV2.DE), Swiss Re (SWCEY.PK, RUKN.VX, RUKN:VX).

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#5) On November 25, 2009 at 12:50 AM, portefeuille (99.78) wrote:

a list of suggestions is here.

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