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  • pmlljl pmlljl Oct 20, 2008 10:37 PM Flag

    CEG Part Deux


    I think the volatility in CEG may be turning down. Without the threat of a higher buy out offer by EDF, I don't think CEG will go much above $26 and with the offer by Berkshire, I am guessing it will not go too much below $24-$25.

    So I may be in it from now until the sale is completed. If so, that will get me somewhere around 25% to 30%. I can live with that. I can still hope that some disconnected speculators take it outside these boundaries and give me some more opportunities to trade. I already have substantial profits from the first three rounds and round four is looking good. I wish I could find more deals like this.

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    • Well, I finally got in for Round 4 at 24. I make that almost 20% annual return with the dividends if nothing goes wrong. Not nearly as good as you've got, but I like having some of my money (possibly) available in case the market drops.

      Apart from this arbitrage I'm pretty much loaded with stocks now. But if the S&P 500 goes to 400 or something, the arbitrage might still be liquid with little penalty. Or not, and that's ok too.

      • 1 Reply to astral_tsar
      • astral:

        Welcome back aboard the good ship Constellation. We are sailing toward the mother ship, Berkshire Hathaway and we expect good weather and smooth sailing.

        I am also proud to announce that as of today I am now officially entitled to post on the ITIC message board because I bought some ITIC stock today at $32. Prior to this purchase, I always felt like I may have been infringing on the rights of authentic ITIC shareholders like you and pj. But now I have entered through the front door to claim my rightful place in the ITIC fraternity. I hope we can have a proper ceremony and that I can be re-indoctrinated with the history and principles of the honorable ITIC way.

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