Thursday, April 22, 2010

Adding to 2 Positions

I've taken advantage of this mornings sell off (I hope at least), and added shares of two portfolio holdings.

I added Etrade (ETFC) at $1.73. They reported solid earnings yesterday after the bell, and are well on their way back.  Unless a buyout comes, this is going to take some time, but I am confident that there is money to be made here.

I also added pretty heavily to Loews Corp (L) in the 37.70's and .80's.  You can buy Loews stock for basically the value of only their publicly traded assets, and they own so much more.  The market is determined not to fairly value this company, and I'm willing to wait.  It may take a big move by management for Wall Street to appreciate the value, and they have the resources to pull it off.  They are true value investors, and are waiting for the right thing.  I feel like I'm buy dollars for .70 here.  Their annual report is a good read if you have the time.  Also, take a look at this commentary from the Lonely Value Investor blog.  I really like reading this site, and its worth your time. 

There aren't many new names I'm looking at, but I have a lot of stocks I really like and currently own.  I'd rather buy more shares of current names, and will continue to do so if the opportunity presents itself.

Disclosure: Long ETFC, L

Tuesday, April 20, 2010

Added Some GGP

I've been pretty cautious on adding anything here as many of my stocks have run up a bit.  I did add some General Growth Properties (GGP) yesterday around $15.11.  I'm not going to speculate whether Simon Property Group, or the Brookfield group, or even someone else comes out on top.  From what I've seen so far, many of the best, brightest investors have been involved in this thing and that tells me that A) There are some really good assets at stake here, and B) They are being bought at cheap levels.  Now depending on the particular outcome and who emerges as the leader here, it may take more or less time, but I do believe we'll see shares higher in the months ahead.  So I went ahead and added, and increased my position by about 1/3.  I wish I could have been many, many more shares at my original buy price of $1.79.

Also, if you're looking for more analysis on the GGP situation, check out Todd Sullivan's Value Plays blog.  It is well worth the subscription, as I've made that cost back many times over.

Disclosure: Long GGP

Tuesday, April 13, 2010

Taking a Step Back

The market is taking a breather this morning, and it is definitely due.  We crossed 11k on the Dow, and that was about as far as it went.  While we're definitely due for some type of pullback, but I wouldn't be surprised if it isn't that significant.  The economy continues to improve, and you can just feel the confidence come back to the market as things move gradually higher.  To me, its still a market for picking stocks though.  I look at the large-cap stocks that most talk about and I really don't see a catalyst for them to make a sizable move.  Yes, the economy is improving, but that has been priced into many stocks.  I continue to like smaller cap names, and some other non-traditional companies.

I still would point to a company like Loews Corp (L) if you're looking to find value out there.  The market continues to undervalue the total group of their assets.  CNA financial, which Loews owns a 90% stake is a classic case of a stock beaten down badly during 2008-2009, but is primed to perform well very soon.  I also think commodities will be hot again very soon.  Loews has great assets there, with a 50% stake in offshore driller Diamond Offshore, and natural gas exploration and pipeline assets as well.  The stock still trades below book value, and I think there is a pretty good chance some of this value gets realized when Q1 earnings come out of these various companies.  I took advantage when the stock pulled back into the 35 range in January, but haven't added to the position yet.  I'll definitely look to add before earnings on May 3, and maybe a correction will play right into our hands on this one and help us buy Loews shares for cheaper.

Etrade (ETFC) is another company I may look to add as well.  Their operations are improving in the loan portfolio, and the brokerage business is a good one.  Although lower volatility has brought trading revenues down a bit, more funds and new accounts continue to help them grow.  Someone might swoop in and buy them if the stock stays this low, and if they don't, I still see shares appreciating as they move back into profitability.  Here's a good story I found at thestreet.com about a potential deal for Etrade.

If the market reacts like it has been (buying any dip), we'll probably have moved higher again by the time you read this. : )

Disclosure: Long L, ETFC

Tuesday, April 6, 2010

How to Follow My Portfolio

I haven't been able to update here as much as I'd like, but most of my recent buys have been going well.  Especially IGO (IGOI) and Jamba (JMBA).  Both have lots of good things coming ahead and I'll continue to add to those positions if the opportunity presents itself.

I wanted to make sure that those out there reading can follow my trading portfolio via Covestor.  Covestor tracks all my trades and keeps track of performance.  They will send you email alerts when I make a trade as well.  It is only tied to one of my accounts, but it is the account where most of my activity comes from.  So if you're interested, sign up at Covestor.com and follow me.  My username is briskycapital.  You can also click the widget below to go directly to my Covestor page.



Disclosure: Long IGOI, JMBA