Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Spekulatius who wrote (62916)	11/24/2019 6:20:03 PM
From: Paul Senior	Read Replies (1) \| Respond to of 78954

Have sold almost all of my BRKB in recent stock rise. I am viewing the stock now as a trading vehicle (buy again on dips). After holding LBTYA for several years, I decided I don't understand what I own, and I recently closed my position. I see Seth Klarman has made it his biggest position in his public portfolio (a $1B investment apparently), and he and that bet are not to be dismissed. And of course you have Malone managing LBTYA, and that's a big positive too imo. I just decided LBTYA is going to have be one of those stocks that will rise without me.

To: Spekulatius who wrote (62916)	11/25/2019 6:17:33 PM
From: Spekulatius	1 Recommendation Recommended By Sisyphus Read Replies (1) \| Respond to of 78954

CMCSA - down ~3.5%, so added back some shares. Forward valuation based on Y2020 numbers looks very reasonable (8.3% EV/EBITDA). Forward estimated Y2020 FCF yield ~8%.

To: Spekulatius who wrote (62916)	12/3/2019 3:46:11 PM
From: Spekulatius	Respond to of 78954

Adding to both DD and CTVA. Also adding to CCU. I hope protests make thirsty.

To: Spekulatius who wrote (62916)	12/6/2019 8:15:37 PM
From: Spekulatius	Read Replies (1) \| Respond to of 78954

I was asked about WMB in a private message as they’re held their investor day and presented their outlook for Y2020. It would rather answer this in public: Here are my thoughts: 1) Outlook 2% EBITDA growth, 5% growth in DCF. That’s a bit less than expected, but note that they expect to invest only $1.2B next year. This will enhance their FCF and allow for further deleveraging while reading the dividend, which ai think is positive. Eventually, they will reduce leverage to < 4x EBITDA and I think they should work towards a BBB+ credit rating. They also indicated that they are open to further JV or outright sales for the G&P assets , which I think is encouraging and probably could get them to their leverage goal faster. They did not mention the impact of a pot CHK bankruptcy. It would have liked to see some numbers, but I understand that this will lead to renegotiation of their contracts potentially, so they can’t throw out numbers right now. Market had a muted reaction to above, which is understandable, but the thesis is intact, imo: 7% dividend plus mid single digit dividend growth ~ 12% expected return on investment. s24.q4cdn.com