I'm not disagreeing on support as it is clearly there as I noted. My point was more it's in penny stock range as I also called out so while I have no issue buying a ton of it, for someone managing other peoples money there is risk there - especially with a delisting warning floating out there with a due date for March 2024. I would imagine if we get the good earnings and see it push past $1.00 then he would be loading up on more.
So to be clear, my point is it recently recovered from new lows, which he is adamant he steers clear of until support develops, and it has which is the entry we see now. The sizing my guess is because it's a penny stock with a NASDAQ delisting warning.
Either way, him buying or not gives 0 influence on my decisions on this one. I have stated my bull case numerous times on SI. If he's in, cool, if not, then no sweat either as it doesn't change my reasoning for being in QRTEA.
For turnover, he also says this in some of his MSN letters:
Tax implications are not a primary concern of mine. I know my portfolio turnover will generally exceed 50% annually, and way back at 20% the long--term tax benefits of low--turnover pretty much disappear. Whether I'm at 50% or 100% or 200% matters little. So I am not afraid to sell when a stock has a quick 40% to 50% a pop.
Like I told you months ago, his quick flip strategy works for him, but that's him and not us. That's why I just prefer to buy companies I know inside and out and hold them. I can't do what he does, but it works for him as he clearly does well with his own fund. So I take a Buffett/Lynch approach until maybe one day I develop his quick buy/sell skill set - but even then I just prefer to do it my own way vs. copy him.
I agree on the China bottom lol! They still have a ton of default risk and they're not really addressing those issues. Could see a further dive down as market continue to decline there. Going to take some big changes to get folks comfortable pouring money over there.
I also agree with you on the 13F. For all we know most of these stocks he's already moved out of as they rose further in price. Many will chase in based off this filing, but it's old data. I didn't see any good leads on this one so will see what Gotham, DUQUESNE, or a few other value funds are looking into for some leads. I agree though it doesn't paint a full picture of what him or anyone is doing so to me it's just a data point that I digest and move on.
-Sean |
