Investors Title Co. Message Board
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CEG
pj:
I bought some CEG this morning at $22. This is the energy company that Berkshire Hathaway is buying for $26.50. The yield is about 9%. Hope it works out.-
pmlljl,
It seems to me that buying for $22 something that you will be able to sell for $26.50 is a good idea.- 1 Reply to pjv2xyw9dww4b5
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pj:
I sold my CEG about 1 hour and 15 minutes after I bought it for $26.40. That is my all time shortest holding period. My reasoning was that I was going to get $26.50 from Berkshire in probably 6 to 9 months. Why not take $26.40 today and avoid the risk. Apparently the market thought Electricite de France would make a higher offer.
Looks like you might have done very well with ORI and ANAT if you still have them.
I made a real blunder selling part of my BRKB but partly made up for it with CEG.
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I concur. I grabbed some CEG for a decent price Thurs, but not as good as what you paid. & I was traveling Fri and missed 26.40.
- 1 Reply to astral_tsar
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astral:
Good luck on your CEG. Do you intend to hold on until the merger, or are you looking to take a short-term gain on an increase in price?
I don't have a clue about what EDF will do but I am pretty confident that Berkshire will do what Buffett says. I would dearly love for CEG to drop to $22 again so I could reload but I do not expect that to happen. I will keep watching.
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astral:
CEG declared a regular dividend of $.4775 payable 1-2-09 to stock of record 12-10-08.
Wonderful! -
new order at $14.92
Monday's feature limit: the Norman conquest (?) -
changed bid just a little bit, from 14.92 to 22.01
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Yeah, likewise. I lined up a bunch of gtc orders at 23. I'm guessing it will go down to 19, I'll have no more cash, and I'll be kicking myself again!
Then again, earning 10% a week on all my cash in the middle of a market crash ... worse things could happen. Fingers crossed.
You know, for about six years now I've looked at risk arbitrage on and off, and never saw one worth playing until last month. The spread never opened up enough to bother with. I guess you have to wait for the crazy times. -
pj & astral:
I didn't realize I was dealing with a bunch of military history majors. -
astral:
You escaped just in time to participate in round 4.
My order to buy was executed at $22. And, by the time I got to the computer it was back up to $23. I bought 3 times as much at $23.
The news that apparently caused the plunge today was that EDF announced that the conditions were not right for it to launch a competing bid. That is what I expected. That announcement must have caused all the speculators to dump their stock "at the market". Therefore, we may have to wait for the merger to be completed to get rewarded this time, but that is what I was prepared to do in the first place. But, my oh my, did those first three rounds increase the profitability of the transaction for us. -
I got back in just under 25 today. I dunno, we'll see. I'm not big on new ideas. If they want to keep thrashing the price I can spend the next nine months doing this.
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astral:
Filled at $24. New order at $23. - View More Messages
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