Stock Market

[Broncojohnny]

My stuff is still all long term and even dumping today I will be up 42.58% less the 15% tax on the gain. I can't complain I just wish I would have acted when I wanted and I could have saved the 16% it devalued last week.

Is this an industrial company you are talking about?

[Grape]

this is like discussing loosing your kid's college fund at the blackjack table........

[KBScobravert]

Is this an industrial company you are talking about?

GE and JNJ that I have owned since 91-92. I got the JNJ at a smoking deal. The GE I am going to have to hold onto for a little while longer I think. I find it hard to believe it is only worth 3% more today than it was in the early 90's. I have had some nice dividends over the years though. They have all rolled into more shares of GE.

[Broncojohnny]

GE and JNJ that I have owned since 91-92. I got the JNJ at a smoking deal. The GE I am going to have to hold onto for a little while longer I think. I find it hard to believe it is only worth 3% more today than it was in the early 90's. I have had some nice dividends over the years though. They have all rolled into more shares of GE.

Oh, ok I remember we talked about this before. GE is getting beat up because they are an industrial conglomerate. All the industrials are getting dumped lately, just like the banks did in 1Q this year.

And just FYI, don't look at what their share price is. Look at what their earnings were when you bought them and when you are selling them. Share price is just what some clown is willing to pay you for them, nothing more. You'll see that while the share price has gone nowhere, their earnings are growing quite nicely. That was the point of my previous post about value, eventually the market recognizes those earnings with a higher share price for any reasonably well run company. It can take a while for that to happen though.

[Broncojohnny]

this is like discussing loosing your kid's college fund at the blackjack table........

Only if you are one of those people who looks at a balance sheet and goes all glassy eyed.

[Captain Crawfish]

fuck the stock market

[slow99]

It's already been said, but you guys with long-term money are hurting yourselves trying to time the market.

[slow99]

Use these markets to pick up companies at close to their down-side. We have a few companies that are trading at damned-near tangible book value. I'll buy a decent business at my bear-case price all-day everyday.

[Broncojohnny]

Use these markets to pick up companies at close to their down-side. We have a few companies that are trading at damned-near tangible book value. I'll buy a decent business at my bear-case price all-day everyday.

What companies do you have at that level? I know Goldman is about $121 on tangible and $131 with intangible. They traded as low as $125 a while back.

How about that ALU? oh boy

[slow99]

What companies do you have at that level? I know Goldman is about $121 on tangible and $131 with intangible. They traded as low as $125 a while back.

How about that ALU? oh boy

Yeah, we got our faces ripped off on that one. We've said all along that shit was short-term... but they went aggressively into some fiber business in China (low, low margin business) and killed profitability. We had no idea they'd be that undisciplined and go big after a zero margin business. Fuck.
Funny thing is, we had a couple guys call us and say that the ALU was their only exposure to the space (heavily underweight the sector) and so they were actually outperforming. Fucking crazy, the space as a whole was down 11% in two days. It's best-practice not to post companies and implied opinions here... so I'll shoot you a message.

[347Mike]

Yeah, we got our faces ripped off on that one. We've said all along that shit was short-term... but they went aggressively into some fiber business in China (low, low margin business) and killed profitability. We had no idea they'd be that undisciplined and go big after a zero margin business. Fuck.
Funny thing is, we had a couple guys call us and say that the ALU was their only exposure to the space (heavily underweight the sector) and so they were actually outperforming. Fucking crazy, the space as a whole was down 11% in two days. It's best-practice not to post companies and implied opinions here... so I'll shoot you a message.

Lame.

Put me on copy too, will ya!

[Captain Crawfish]

Warming up for QE3!! Dont be skeered back up the truck

[slow99]

Lame.

Put me on copy too, will ya!

Search for a research report on FNSR by Jefferies & Company (George Notter, James Kisner, Jody Farquhar, Mike Geenen) then! We just published a 60 page initiation on it 4 weeks ago.

[347Mike]

Search for a research report on FNSR by Jefferies & Company (George Notter, James Kisner, Jody Farquhar, Mike Geenen) then! We just published a 60 page initiation on it 4 weeks ago.

Got it. Thanks.

[Broncojohnny]

Yeah, we got our faces ripped off on that one. We've said all along that shit was short-term... but they went aggressively into some fiber business in China (low, low margin business) and killed profitability. We had no idea they'd be that undisciplined and go big after a zero margin business. Fuck.
Funny thing is, we had a couple guys call us and say that the ALU was their only exposure to the space (heavily underweight the sector) and so they were actually outperforming. Fucking crazy, the space as a whole was down 11% in two days. It's best-practice not to post companies and implied opinions here... so I'll shoot you a message.

That's cool.

You had said you looked for ALU to come back down, I just didn't expect it to crash but overall weakness is the market is killing anything with the slightest hint of bad news. IR is a great example, as well as UPS.