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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Jurgis Bekepuris who wrote (57086)	4/4/2016 8:36:45 AM
From: Micah Lance	Read Replies (3) \| Respond to of 78653

Are you looking to invest more in energy and banks over the next few months? I am keeping my eye on those two sectors personally. Oil companies have their credit facilities reassessed over the next month, so I would expect quite a few companies have their credit facilities significantly reduced which would cause the smaller, over-leveraged companies to default. I'm surprised there's been so few defaults already since not much has changed in the oil market in the past year. If there is a credit event in oil, I think banks get smacked no matter how exposed they are b/c the sentiment will be there as banks have already seen a pretty big decline due to oil fears. If something like this does happen, I think both of these sectors could show some pretty great value. I'm already invested in a few banks, and am waiting for more opportunities in banking and energy. Best, Micah

To: Jurgis Bekepuris who wrote (57086)	5/8/2016 11:04:14 AM
From: Jurgis Bekepuris	1 Recommendation Recommended By walterenergy Read Replies (1) \| Respond to of 78653

My top (>2%) positions in no particular order: FRFHF, BRKB, JPM, LSXMA, DISCK, TESB.BE, EXOSF, MKL, AAPL In: LSXMA - LMCA spinoff Out: Fixed income: 0% Cash: 17% Sectors (kinda): Insurance(FRFHF, BRK, MKL): 29%, Malone/media: 13%, Banks: 5%, Oil: 5%, Tech: 3%, Various owner-operators (not included in other categories): 16% New positions: Positions increased: LMCK, BATRK, Positions reduced: Nanocap A, Nanocap C, DNR Positions eliminated: SWTF, BRS bond, DNR bond Flip-flop: Sold BRS bond on runup + H225 fleet grounding and CHC bankruptcy. Sold DNR bond on runup and institutional recap into second lien bonds. Sold SWTF common received from Swift Energy BK proceedings. ~5% of par. Sold some of the tiny remaining DNR common position. LMCA split into LSXMA, LMCA and BATRA. Added a bit of LMCK and BATRK.