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Open Thread: What Are You Buying/Selling/Pondering
Hi Scott! I like this thread. It's my favorite next to David's commentary. One can find out what other people are thinking just reading this thread, I think. That's great. God bless. the Pudd
Thanks so much! I really appreciate the kind words.
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Added again to GILD. Also added to BPY, with a p/e of under 5 and that continues to trade under book.
@scott- What price range for GILD would you consider to be reasonable for a new purchase?
Thanks- OJ
Again, I think despite its valuation seeming exceptionally compelling, there is certainly risk and volatility as there is with any biotech.
That said, I added during the Express Scripts/Abbvie situation that took it down into the $80's. I will not be adding any more because I do not want it as any larger a position than it is, but I have bought around $100 and bought a little more today at around $103.
I like management (as I've joked, was M* CEO of the year for 2014, not sure if that's good or bad, ultimately) and now that there is a dividend aside from the existing buyback, I have no trouble holding for a longer period of time. Again, do your research and do be aware of the risks, but I did buy for the last time today.
Using the volatility to cherry-pick and buy "fallen angels" - stocks that I believe have bright LT outlook that have recently sold off - either because their sector is out of favor or they disappointed with most recent earnings report and sold off sharply. Specific stock purchases:
As am I DlphcOracl. My only pondering is with WPC.
WPC is a very long-term holding for me. I think it's a quality name in terms of real estate and what I particularly like about WPC is that their focus is on essential real estate - R & D facilities, HQ's (Kraft HQ being an example) and more. I'll have to look for it, but their investor day conference a year or so ago was a tremendous discussion that I thought gave a great deal of insight into the company's process.
That said, I already have a lot in real estate, including Blackstone, which is heavily real estate. If I had to add further, WPC is a great choice but personally, I'd end up leaning towards Brookfield Property (BPY - an MLP not a REIT, so it does generate a K-1 a la Brookfield Infrastructure and Brookfield Renewable Energy), which is still trading noticeably under book and allows access to opportunities like Brookfield's private real estate funds: "At this time, Brookfield's $4.4 billion real estate opportunity fund is essentially fully invested and the focus for this fund has shifted to maximizing the value of this portfolio. As monetizations occur, Brookfield Property Partners anticipates realizing meaningful opportunistic returns on its $1.3 billion participation in this initiative."
Brookfield is also doing a lot, including pairing with Qatar's Investment Authority to take control of Canary Wharf in London (and the QIA took a large stake in BPY.) They also bought apartment community REIT Associated Estates.
So, BPY is really the first choice if I were going to add to RE (and I may add to that again today), but WPC would be a second choice. Not really a third, don't really want to add to anything else RE-related.
Edited to add: added to BPY again.
Edited to add two: Colony Financial (CLNY) has merged with its parent, Colony Capital. Now renamed Colony Capital and the merger brings a lot of assets on-board - this has now quietly become a very big RE company. Long CLNY.
"Non-alcoholic fatty liver disease (NAFLD) is one cause of a fatty liver, occurring when fat is deposited (steatosis) in the liver due to other causes than excessive alcohol use. NAFLD is the most common liver disorder in Western industrialized nations.[1] A recent study using the National Health and Nutrition Examination Survey (NHANES) found a 30% prevalence of NAFLD in the United States between 2011 and 2012.[2]
NAFLD is related to insulin resistance and the metabolic syndrome and may respond to treatments originally developed for other insulin-resistant states (e.g. diabetes mellitus type 2) such as weight loss, metformin and thiazolidinediones.[3] Non-alcoholic steatohepatitis (NASH) is the most extreme form of NAFLD, and is regarded as a major cause of cirrhosis of the liver of unknown cause.[4]'
@ Scott - Thanks for the heads up on BPY, I'll give it a look-see. Interesting considering they had a headquarters in my backyard for some time. I'm actually kind of full of REIT's but I like shopping sales and I don't have much in the way of foreign or international RE.
Comments
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Added again to GILD. Also added to BPY, with a p/e of under 5 and that continues to trade under book.
Thanks- OJ
That said, I added during the Express Scripts/Abbvie situation that took it down into the $80's. I will not be adding any more because I do not want it as any larger a position than it is, but I have bought around $100 and bought a little more today at around $103.
I like management (as I've joked, was M* CEO of the year for 2014, not sure if that's good or bad, ultimately) and now that there is a dividend aside from the existing buyback, I have no trouble holding for a longer period of time. Again, do your research and do be aware of the risks, but I did buy for the last time today.
RCL - Royal Caribbean
AKRX - Akorn (Pharmaceutical)
CBM - Cambrex
IDXX - Idexx Laboratories
AA - Alcoa
STRT - STRATTEC Security Corp.
KITE - Kite Pharma
That said, I already have a lot in real estate, including Blackstone, which is heavily real estate. If I had to add further, WPC is a great choice but personally, I'd end up leaning towards Brookfield Property (BPY - an MLP not a REIT, so it does generate a K-1 a la Brookfield Infrastructure and Brookfield Renewable Energy), which is still trading noticeably under book and allows access to opportunities like Brookfield's private real estate funds: "At this time, Brookfield's $4.4 billion real estate opportunity fund is essentially fully invested and the focus for this fund has shifted to maximizing the value of this portfolio. As monetizations occur, Brookfield Property Partners anticipates realizing meaningful opportunistic returns on its $1.3 billion participation in this initiative."
Brookfield is also doing a lot, including pairing with Qatar's Investment Authority to take control of Canary Wharf in London (and the QIA took a large stake in BPY.) They also bought apartment community REIT Associated Estates.
So, BPY is really the first choice if I were going to add to RE (and I may add to that again today), but WPC would be a second choice. Not really a third, don't really want to add to anything else RE-related.
Edited to add: added to BPY again.
Edited to add two: Colony Financial (CLNY) has merged with its parent, Colony Capital. Now renamed Colony Capital and the merger brings a lot of assets on-board - this has now quietly become a very big RE company. Long CLNY. Happy to help.
The other aspect of GILD that interests me is their exploration of NASH (fatty liver disease), which was related to a purchase earlier this year (http://www.gilead.com/news/press-releases/2015/1/gilead-sciences-announces-acquisition-of-phenex-pharmaceuticals-development-program-for-nonalcoholic-steatohepatitis-nash-and-other-liver-diseases)
"Non-alcoholic fatty liver disease (NAFLD) is one cause of a fatty liver, occurring when fat is deposited (steatosis) in the liver due to other causes than excessive alcohol use. NAFLD is the most common liver disorder in Western industrialized nations.[1] A recent study using the National Health and Nutrition Examination Survey (NHANES) found a 30% prevalence of NAFLD in the United States between 2011 and 2012.[2]
NAFLD is related to insulin resistance and the metabolic syndrome and may respond to treatments originally developed for other insulin-resistant states (e.g. diabetes mellitus type 2) such as weight loss, metformin and thiazolidinediones.[3] Non-alcoholic steatohepatitis (NASH) is the most extreme form of NAFLD, and is regarded as a major cause of cirrhosis of the liver of unknown cause.[4]'
http://en.wikipedia.org/wiki/Non-alcoholic_fatty_liver_disease