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February 03, 2010 – Comments (15)

I have had a heinous travel schedule so far this year related to businesses I used to own and to which I have some lingering commitments.  As such I have been away from these boards a fair bit.

I have made some moves in the markets, however, including

-I have been a seller of most every share that cleared the 1 year ownership mark until the recent downturn.  I sold some of my stake in ASH on the recent pop.  This combined with GNWs ascent to a new 52 week high and XLs share price dropping on the news that it was relocating to Ireland from Bermuda (much of its operations were already in ireland) has led to, for the first time in a year, something other htan ASH being my biggest position.  GNW is now my biggest position, and I have largely hedged it.  GNW has joined the ranks of 10 baggers for me...  :)  If XL is removed from the S&P and drops significantly from todays prices, frankly, it owuld represent a good buy once again.  Its going higher in time.

-I have increased my MCGC position in last weeks weakness

-I have added to my RJET position.  that sucker has been on one heck of a non-winning streak.  oof.  DespiteRJET being one of my 10 biggest positions and tanking horribly this year, I hit an all time high a couple weeks ago.

-I sold part, but not all, of my JOEZ position, my pet micro cap stock from last year, after it cleared 1 year of ownership

-I bought ZAGG as my new pet stock

-I took a small position in FTR and SHBI and added to my GRNB position.  GRNB had a good quarter and the valuation remains very cheap.  GRNB and SHBI are small positions by necessity as they are small cap low volume stocks. SHBI is a low-risk small cap bank that has fallen to risk-bank valuations.  Not going to be a 10 bagger, but it pays 5% and could quite reasonably double going forward. 

-I lucked out huge and hedged my TCK shares (one of my 5 biggest positions) right at the top, and covered them when it fell to 34.  saved most of the pain of the drop.

-I un-lucked out and didn't cover my RCL hedges and i'm underwater on those now after being up, oh well

-i hedged my GCI.  went underwater for a while, then way above water on those.  Not quite a strong enough hedge to save me all the downside that stock has seen recently, but it helps

-removed my hedges on OSK and sold 20% of my position as it cleared 1 year

-looking at a big move in BAC if we get any further weakness, started it on a small scale.  Its an options play with an unusual design.

-I began selling some of my BZ position at a 10+ bagger, but stopped when it fell from $6 back towards $5.

-I am thinking about a position in T.  and maybe VZ as well. Great yields, low beta, I just think it wouldn't kill me to have a low beta stock or 2...

-I vastly hedged my ACAS position when it cleared $4.  I just don't want to be a part of that circus any longer.

 So buying:  RJET, MCGC, some small cap banks (GRNB, SCMF, SHBI) and a little CNO.  But a net seller this year as I've begun to clear 12 months on some positions.

I am considering shorting a stock that isn't a levered ETF for the first time...  But i don't have any good ideas on that.  I thought about AMZN at 80, good thing I didn't do that.  I thought about Green Mountain Coffee Roasters a while back, good thing I didn't do that.  Shorting is a tough sport to win with real money at.  Easy sport to win with on caps at times...  but tough with real money.  Special situations only, perhaps.  

15 Comments – Post Your Own

#1) On February 03, 2010 at 12:53 PM, TigerPack1 (97.97) wrote:

Welcome back.  You added a seventh pick today, so your ranking is again in the Top 100 on CAPS.

I have added some of your picks to TigerPackFund.

portefeuille and myself have a question for you?  Review the email address you are using for TigerPackFund for more info.

 

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#2) On February 03, 2010 at 1:35 PM, portefeuille (99.60) wrote:

yes, we need a third man. tigerpack the prudent, portefeuille the hunter and collector, and checklist34 the audacious.

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#3) On February 03, 2010 at 1:40 PM, portefeuille (99.60) wrote:

my new idea for your hedge fund might be AIXG. I would probably make it my official suggestion when the share price of AIXG/ATPG is below/above $25 ...

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#4) On February 03, 2010 at 1:40 PM, portefeuille (99.60) wrote:

apart from that small tech biopharma is still my favourite sector.

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#5) On February 03, 2010 at 2:03 PM, portefeuille (99.60) wrote:

small tech

small cap

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#6) On February 03, 2010 at 3:51 PM, Option1307 (29.99) wrote:

SHBI is a low-risk small cap bank that has fallen to risk-bank valuations.  Not going to be a 10 bagger, but it pays 5% and could quite reasonably double going forward. 

Unfortunately no longer and the stock took quite the haircut today b/c of it.

Thanks for the thoughts though, I always appreciate what you have to say!

I had forgotten about RJET, butw ith the recent slide it does look somewhat attractive.

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#7) On February 03, 2010 at 4:28 PM, Tastylunch (29.37) wrote:

Checklist

I'd be pretty careful with ZAGG. I know hey are trying to be legit now, but they have used paid stock promoters in the past.

RJET is interesting. I like the volatility on that one!

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#8) On February 03, 2010 at 5:45 PM, checklist34 (99.73) wrote:

tasty, i think they just announced that they hired more paid stock promotors, lol.  But the growth is huge, profitability is decent, good macro industry to be in and at $2 it seemed cheap.  We'll see, it is 0.1% of my portfolio.  JOEZ was 0.5% of my portfolio when I bought it and about 0.5% now after I sold a bit.

SHBI is about 0.15% of my portfolio, and I hope that sucker goes to single digits on this dividend cut, because it would represent a future very high divi (when restored) and potential 3 bagger with not much risk of actual failure.  thanks for the update option1307, I appreciate it.

I emailed you guys back, Tiger.

Porte, I may buy more ATPG, you still like that one? It has become a falling knife!!!

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#9) On February 03, 2010 at 6:25 PM, portefeuille (99.60) wrote:

yes, I still like it. I would feel a little more "comfortable" if I knew those call options will not expire too soon. Apart from that, yes.

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#10) On February 03, 2010 at 6:35 PM, checklist34 (99.73) wrote:

porte, the calls I bought were deep in the money and more or less simply provided a little leverage on the play.  So they won't expire worthless, they were the longest dated calls I could get at the time, junes i think.

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#11) On February 03, 2010 at 6:37 PM, checklist34 (99.73) wrote:

I almost never buy out of the money, or at the money calls, mostly always deep in the money calls as I hate being long time premium.

I love selling time premium.  A favorite move of mine is buying a deep in the money call on a stock and selling, perhaps a smaller number of contracts, at the money puts.  Maximally short time

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#12) On February 04, 2010 at 12:24 AM, checklist34 (99.73) wrote:

My portfolio is expanded beyond stocks and cash now as well.  I own about 5% of my portfolio (but planning to grow that substantially this year) in farmland that I have plans to farm in a year or 2, unusual crop choice here.  And about 6% of my portfolio is now in the form of loans to, investments in, and collateral provided for small businesses to get money.  Obama is busy screaming and crying and yelling for more handouts and welfare and entitlements, and busy handing wall street the freeest of free lunches, but he has no time for the thing that actually still drives the economy:  small businesses.

So I'm giving some back.  An operating loan for one company of 5 people, working capital as an equity investment in another company expanding to 12, and collateral provided for another small business employing 8 to get a fixed rate loan.  I am not able to employ anybody but a maid at this time, so thats the best I can do.   Maybe I am my own BDC, lol. 

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#13) On February 04, 2010 at 12:29 AM, checklist34 (99.73) wrote:

GNW now represents nearly 10% of my portfolio.  I have a monstrous stake in that sucker. I haven't bought a share since july.

Porte, I don't know one diddly thing about small cap pharma, not one thing.  what are 3 good ones in that area?

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#14) On February 04, 2010 at 5:14 AM, portefeuille (99.60) wrote:

Well, the problem is that you would have to buy quite a few different stocks and give some thought to the weighting. If you are lucky like I was with my main "caps" game player your results (ignoring the weighting) would look like this. If I recommended 3 there would be a considerable chance of you losing quite a bit of money on those. Maybe I will try to construct a "dream team" portfolio, crosschecking with the opinions of zzlangerhans. And then you could put 0.1% of your portfolio into that, hehe ...

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#15) On February 09, 2010 at 4:06 PM, sentinelbrit (85.95) wrote:

You guys are a blast!

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