More 2008 Q1 13F-HR Filings: Berkowitz, Pabrai, Bob Rodriguez

Bruce Berkowitz and his team at Fairholme have been keeping busy with several new additions. Quick thoughts: I am not sure if my scripts are handling the options correctly but since the options have the same CUSPID as the underlying stock, it is hard to tell which options the manager(s) are holding. Berkowitz has call [...]

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2008 Q1 13F-HR Filings: Klarman, Witmer, Third Ave

Seth Klarman’s Baupost filing is once again littered with SPACs but there are some interesting items to note: Substantial new position in Wellpoint (WLP): Not to be confused with Wellcare (WCG), which Bruce Berkowitz and Mohnish Pabrai (piggybacking off Berkowitz) own. I have a few of the health insurers (UNH, HUM, WCG) on my watchlist [...]

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LCA-Vision (LCAV): Possible Value Trap

I’m sure many of you are saying “No duh, Davy! The stock’s only down 10% today after cutting the dividend.” But I’ve actually been looking at this stock for a few months now. Generally, I usually don’t post about stocks on my watchlist unless they get added to the portfolio. That said, I bring up [...]

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No Inflation? Some Real Market Perspective

In light of today’s fantasy inflation report (see the Big Picture for more details), I would suggest checking out yesterday’s interesting editorial by Jerome Booth in the Financial Times.  While Booth doesn’t specifically address inflation, he surveys the current global macroeconomic picture and draws some interesting conclusions.  A handy reminder to keep your eye on [...]

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Hedging Our Bets With American Capital Strategies

On 01/02/2008, I sold puts on American Capital Strategies (ACAS) at a strike price of $35 for May 2008 expiration, collecting a premium of $5.50 per contract (all detailed on my portfolio spreadsheet). Those contracts are trading at $4.00 at last check and I can close them out for a gain of 4% (12% annualized) [...]

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Seth Klarman Doubles Down on Horizon Lines (HRZ)

As of his last filing, Klarman’s Baupost Group owned 3.8M shares. Today’s filing raises his stake to 7.1M shares or 23.74% of the company. I posted my more timid assessment of the company a few weeks ago. Perhaps I need a little more courage in my convictions. Maybe I’ll have to mull over HRZ some [...]

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