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Strategies & Market Trends : Value Investing
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To: Elroy who wrote (76280)10/2/2024 3:10:44 PM
From: E_K_S  Read Replies (2) of 78486
 
Re: Williams Companies (WMB) 47.34+0.98 (+2.10%) - just hit a 9 year High

(All Time High at/near $60/share)

Thanks' for reminding me. Peeled off 10% in the ROTH account. Avg cost there is $22.40/share w/ shares bought in 2020 & 2021. WMB getting expensive at 23.4x PE and 4% div

In the taxable account, WMB now a #5 position. Most of those Buys in 2020 and 2009/2010. It is interesting that in 2009/2010 was buying share for $11.25/share and then in 2020 got shares for $9.60 - $11.50.

So the takeaway is many of these NG companies are cyclical and track the Oil/NG prices. We are getting close to this cycle high in 2024. I will be scaling out of my oversize position at/above $50/share. That's +284% in 4 years and a div yield averaging 5%.

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I never can buy at/near the low but have better success scaling into a position when PE is below the average & dividend yields are higher than the average. I typically expect to hold a position 18 months but many I will hold for years especially if the div yield is at/above the Treasury yields and we have yet to peak in the cycle.

Been building new positions in PYPL, PDCO, INMD, MTW and others. All these have special situation stories that make me believe will be much higher in 18 months. For me the risk/reward is good vs the alternative of holding that cash in Treasuries.

Largest gainers that have grown into a oversized portfolio position; GLW, OVV & FCX

Let your winners run and close out your losers and/or value traps. A lot easier done looking in the rear view mirror.
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