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Initiated position in LUK today -- attractive Price to Book and confidence in management team. Will buy more as it goes lower. Also looking at ZFC as it heads lower; seems more attractive than PDI or DBL on a valuation basis -- will appreciate thoug…
Just a passing thought on why Canada didn't build the pipeline to the coast to supply Asia; a couple of things might hinder any pipeline construction. Two major mountain ranges including the Canadian Rockies, and the possibility of having to cross …
@scott...apologies if this is off-topic. How does this proposed legislation impact the favorability of pipelines vs. road vs. rail for transporting oil. Are pipelines and rail competitors for crude or refined oil transportation? Thanks in advance.…
Our neighbors to the North have already adopted rules on safety.
http://www.nytimes.com/2014/04/25/business/trailing-canada-us-starts-a-push-for-safer-oil-shipping.html?_r=0
Some discussion that Icahn wants consolidation in the payments space and wants Paypal to merge with another player. Question becomes who.
What I'm really surprised about is that this appears to be a total spin-off. I thought this was going to be an…
scott said...
Well, it becomes the honest question of is your investment time horizon a week or two?
I don't understand the question. I never said I was going to invest in OAK. And if I were, I can assure that I am not a trader..
The idea is that i…
rjb, I think "Irs Aud" is "interest rate swap, Australian dollar," which may be effectively a way to hedge the currency risk of owning Aussie debt, which PIMIX has had as a significant position for a while. Somebody correct me on that, please, if it…
Looking forward to David's commentary, but if HAUBX is what the new fund could be like, looks like more gross-mediocrity, pun intended. There are just better funds in this category out there.
I'm still amazed at all the publicity Gross's move and h…
Do you have a view (either of the companies or on the stocks) whether CP or CNI may do better in the long term?
CP more than doubles buyback from 5M to 12M shares.
http://www.theglobeandmail.com/report-on-business/canadian-pacific-to-raise-share…
I'm honestly a little surprised that Pimco didn't have some sort of non-compete clause. Now Gross heads to Janus with knowledge of Total Return's positions and, most likely, ways to take advantage.
Depends, what year do you anticipate Healthcare Costs to go down? and Healthcare companies and Drug Companies to stop making big profits? That could be a good year to stop investing in Healthcare...till then just riding the waves...
I expect health …
Imagine what would have happened if Gross had joined DoubleLine.
http://dealbreaker.com/2014/09/we-almost-had-a-universe-in-which-bill-gross-uttered-the-words-yes-mr-gundlach-anything-else-mr-gundlach-monday-friday/
PIMCO is, and has been for a few years, MUCH more than Bill Gross. They already have, and have had, a team approach on the investment committee that sets the macro outlook for the firm's funds, a top-notch analyst staff, and a solid group of fund ma…
Did Pimco move away from the Bill Gross model or did Bill Gross move away from the Pimco model? Or has the Bill Gross model had its time and is now over? I dunno. I will fault Pimco for liking the Bill Gross model a little too much - he became the p…
"* PQTIX, the Pimco managed futures fund that's apparently run with more of a tactical allocation strategy than the absolute return strategy of many MF funds; "
I'm rather fascinated by the performance of this fund, although quite concerned with Pi…
Humor: "We Almost Had A Universe In Which Bill Gross Uttered The Words “Yes, Mr. Gundlach, Anything Else Mr. Gundlach?” Monday-Friday"
http://dealbreaker.com/2014/09/we-almost-had-a-universe-in-which-bill-gross-uttered-the-words-yes-mr-gundlach-any…
"Why is the market only valuing AIG at 0.7x book value?"
Maybe they're still thinking in the manner that Berkowitz did in 2009.
"Maybe it's because I don't invest in things I can't understand. Eighteen years ago, after the financial stocks got kil…
When you search for SHLD on Google, the sponsored ad/first thing you see:
"SHLD Lawsuit - Own Sears Holdings SHLD Stock?
Adwww.shareholderlawsuitscenter.com/
Call Our Shareholder Law Firm Now."
It is not unusual for a Barron's article to send a stock soaring or downward the day or two following the release. The question is, what will be the impact in a week or two?
Well, it becomes the honest question of is your investment time horizon a…
Good stuff Scott.
You remain amazing.
Can't thank you enough for your thoughtful contributions to the board.
Thanks, I really appreciate that. :-) Your contributions to MFO are outstanding and greatly respected, as well.
OAK up more than 3% today.…
You know, the funny thing is when Bill Ackman first announced that he was going to have a public fund in London, my thought was that Ackman has such a concentrated portfolio that one could just buy the stocks or pick which they wanted to follow, su…
It has been speculated that part of the reason for Lampert's loan is that there was an attempt to sell the interest in Sears Canada and there were no takers.
http://seekingalpha.com/news/1994365-report-lack-of-interest-in-sears-canada
From the NY …
Doug Kass: Buy Oaktree (OAK) On Gross's Departure
http://blogs.barrons.com/focusonfunds/2014/09/26/seabreeze-buy-oaktree-on-grosss-departure/?mod=BOLBlog
"Instead, Kass says he is buying into Oaktree stock, on the basis of their 22% ownership stak…
I'm not going to, but I think at some point Janus becomes a good short if it keeps going even higher as a result of this. I think Gross has a remarkable long-term track record, but after everything that has gone on recently, I think he'll have to re…
Here is a quote form M* on Bill Gross
Wonder what Rob Arnott will do?
To each their own, but I am selling remaining Pimco funds. As for Arnott's funds, I am concerned about the amount of outflows from the Gross-managed funds within and general P…
Do you have a view (either of the companies or on the stocks) whether CP or CNI may do better in the long term? Again, just trying to understand and learn more about these two companies. Thanks in advance.
I also own CP, UNP and BNSF (BRK-B). I …
Interesting point. I do think that Gross is so woven into Pimco that there is kind of a Jenga aspect to this, where pulling too many Gross-related blocks might have real implications on other Pimco funds and the markets themselves.
Gross is acting like this is a move to let him get back to focusing on markets and not having to also run a large organization. Now it becomes a matter of proving that that's the case with a return to performance.
The concerning part is, if Pimco's…
@scott, funny how we talked about Pimco once being a class organization. That was not that long ago. Bill Gross was Pimco and vis a versa. I think this has huge ramifications for Pimco.
The big question might be who caused the conflict? Gross or …
2) Some of the institutional money may follow Gross to Janus. Some of it may also go to other bond fund managers. Doubleline should see an increase in AUM -- good for Oaktree shareholders.
Yay. lol.
I do think that you will likely see money fle…
First thing I thought when I read this was, "Is it April 1st?" Realized, no, no it isn't.
Look at JNS pre-market (+38% as of this)...Allianz is surprisingly not down as much as I'd expect. Pimco is in real trouble and as much as I'd thought about g…
What an awful day overall.
And, IMHO, on no real news.
No event occurred that has not already been with us.
Honestly, earnings season can't come fast enough for me.
Perhaps then, the market will get back to movements based on data.
c
Look at Ni…
@Scott.
How do you reconcile its P/E ratio (ttm) 23?
That's not a bad question.
It's not a 'cheap' stock. I've owned it for a while, so this purchase was not an initiation but a small addition.
However, I think the railroads are doing exceptional…
