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August 2007 Archives
I'm going to continue my buying streak
Wednesday August 01, 2007 : 01:26 PM

In my opinion the negative sentiment towards the finance industry is a transitory thing. Lending did not go away (banks are still making money), and I am not interested in sub-prime lenders anyway. In fact, the worst that I can see happening is that some banks may get cheap enough to become takeover targets.

I will work towards doubling my positions in BankUnited and Associated Banc-Corp by requesting buys for 5% in each today, and another 5% if the price drops again.

Buy BKUNA 3100 shares at $15.9

Buy ASBC 1700 shares at $28.25

I probably should have done all of my buying like this (in 5% increments). I am just used to working with smaller numbers and transaction based fees instead of share based fees.
Yesterday's trades disappeared, so I have resubmitted them
Thursday August 02, 2007 : 01:45 PM

nothing more to day really than that I find it frustrating.
I'm back and dumping everything else into AUY
Wednesday August 22, 2007 : 09:24 AM

I've been out of communication for a little while. I guess that I spent too much too fast and felt rather down (both financially and because of my performance). This is a lesson to learn. I tend to want to be fully invested in the stories that I buy, but I should avoid that and try to make sure that I have some cash to put into new stories or better positions on the stories that I have already bought.

Yamana Gold (AUY) is a better position on a story that I already bought. AUY was trading at $15 until they made a bid on Meridian in an effort to buy growth. Buying growth makes a lot of sense in the mining business, after all, where else are you going to get more stuff to mine? Unfortunately shareholders disagree with me and the stock plunged to sub $10. I took this as a buy signal and picked up some more stock. Now Meridian is urging it's shareholders to decline Yamana's offer, if they do, Yamana should be worth about what it was before the bid. If they don't Yamana can get back to the business of growing their mining operations.

I am moving my stake in Yamana to 25% of my portfolio, and plan to sell at around $14.5 safely below the previous peak valuation of $15.4.
Buying Deerfield
Friday August 31, 2007 : 11:20 AM

I just put in a market order for Deerfield to the tune of the rest of my capital.

Factors influencing this are:
-"Expert" Tobin Smith's recommendation which noted a 17% dividend
-recent massive insider buying
-today President Bush announced that he will propose something to help homeowners avoid foreclosures (this can only help a REIT)