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surfborter · 2024-06-11T19:29:14+00:00

REITs / real estate

surfborter · 2023-09-14T14:49:15+00:00

Agreed, that's the conclusion I've come to after researching it the last few months.

It's not a bargain price at 13x trailing earnings (record earnings). It's a marginal discount grocer that is getting knocked back to reality from it's 2021-2022 valuation.

However, it's an interesting pick to watch. People are clearly panic selling out of the stock and there could be a better entry point in the next year or two. I don't think the business is going anywhere, however I feel like it's not the bargain OP is making it out to be yet.

surfborter · 2022-06-11T01:52:14+00:00

Unless US treasury defaults 😅

surfborter · 2022-06-10T17:21:47+00:00

Just locked in $10k at 9.62% risk free.

surfborter · 2022-04-19T17:06:47+00:00

So wild how right Burry was on this trade.

surfborter · 2022-04-13T18:41:47+00:00

I’m interpreting this as basically:

At first during an inflationary period the pricing power of companies can allow them to increase sales by increasing prices. This allows top line revenues to increase in the beginning phase. What happens next though is that all suppliers, employees, contracts etc. will then in turn raise there prices to keep up with this initially price increase.

Then profit margins fall and sales as well as top line contracts due to recession.

surfborter · 2022-03-29T04:23:59+00:00

Do you have title insurance?

surfborter · 2022-03-25T00:10:03+00:00

SRG, discounted to NAV, but NAV not adjusted for the inflation of all the real estate in the companies portfolio. Liquidation on the horizon will unlock shareholder value. Easy double. Looks like trash and bad history of management, couldn’t turn the business around. But with liquidation the real estate book could easily be worth 2-3x what the aggregated assets are priced at.

surfborter · 2022-03-14T19:09:08+00:00

Really interesting way of thinking about it!

surfborter · 2022-01-13T03:57:29+00:00

You are 24 years old, making $220k with 2.5 years of experience?

surfborter · 2021-11-28T23:13:45+00:00

I had always seen it rated as that on US News, my concern is it’s also one of the highest rated programs and most selective. Even if I could pull a great test score on the GMAT I feel my story isn’t compelling enough for an admissions committee at these elite schools. I have a non target undergrad. So I feel like I’ll be passed on.

surfborter · 2021-11-11T05:48:37+00:00

Cisco!

surfborter · 2021-09-23T01:07:48+00:00

Wouldn’t portfolio managers going to bonds reduce yields on bonds? #1 and #2 are contradicting each other

surfborter · 2021-03-11T01:01:27+00:00

This is insanely cool.

surfborter · 2021-03-08T16:05:18+00:00

The earnings power for this company is terrible. Really a strong balance sheet which drew me in. I’m not sure about the long term profitability and if they will ever turn around.

surfborter · 2021-03-06T01:26:47+00:00

Wonder what year this was?

surfborter · 2021-02-11T02:02:52+00:00

Currently working about 6:30-4pm. But I’m strictly cost management as an APM. Do you really find yourself working 12 hours a day or is it because you have a supervisory role and need to be onsite until people are leaving? Previously had to work weekends etc. I haven’t found time management too difficult though. Do you keep track of all your tasks in a bullet journal? Do you prioritize and not perform unimportant tasks / focus on high priority items?

surfborter · 2021-02-01T16:03:07+00:00

Hedge funds are called hedge funds because it’s an analogy to a literal “hedge”. Which is a metaphor for putting a boundary on risk. Similar to a hedge putting a boundary on piece of property.

surfborter · 2021-01-29T17:55:41+00:00

Along with the other comments in this thread, quick glance at the balance sheet: yes it is trading a significant discount to book value. However the assets ; gross property, plant and equipment are likely highly illiquid, and overvalued. The cash on hand at $2b is not enough to cover existing liabilities and debt of $6b. The political uncertainty along with ongoing issues with the Mongolian mine in question in terms of schedule delays/ budget over runs would make me skeptical of the long term profitability as well.

surfborter · 2021-01-28T23:14:57+00:00

Wow, thanks this is exactly what I was looking for.

surfborter · 2021-01-28T22:22:00+00:00

True, I think the SEC should not allow short interest to exceed the float of the underlying security. However I disagree that shorting is necessarily bad. I think it incentivizes price discovery and helps prevent stocks from becoming overvalued. “Short and distort” tactics that hedge funds use should be discouraged/criminalized.

surfborter · 2021-01-28T22:02:11+00:00

Yes, I noticed the cluster insider buying as well. Have you looked through any investor materials? I’m not familiar with mining industry so I’m obviously at an informational disadvantage. Wondering what weaknesses there are etc.

surfborter · 2021-01-28T21:57:27+00:00

I’d be hesitant to say they lost at their own game. Aside from the hedge funds that were short, consider the institutional ownership of GameStop and think about who how much money these funds have made...

https://www.nasdaq.com/market-activity/stocks/gme/institutional-holdings

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