As interest rates rise, high dividend stocks become less attractive by comparison.
I will probably increase my position if it goes much lower.
We only need to estimate what next years below market share issue will be at. Pretty sure it will be less than $420. So, Ive decided to tender some at $420 just because this is a stock that requires you to buy more shares every year in order to avoid getting diluted.
So the shares I sell will fund my future below market buys. If that makes any sense.
Problem is, taxes for my taxable account. I have an odd lot in my IRA, (not divisable by 5) which I guess I should just sell the odd shares. But maybe more too ?
I want to defer my gains in my taxable account for another decade or so if I can.
I guess we can hope he kills himself skydiving or driving his sportscars at 150MPH.
Ive never been a buyer at prices this high. My last buys were at $8.91 after selling at $14.99 previously.
Ive sold shares at $22.49, 20.00 this year. Nothing in 2014. 19.40, $18.52 and $17.49 in 2013.
Looking at the chart, it seems bearish that $19.10-19.30 didn't provide support.
Im not selling here but Im not buying more.
Insiders haven't sold any recently either.
I had hoped we would breakout above $25 but clearly it didn't happen. Yet anyway.
If I sell, I have to pay taxes on my gains from much,much lower prices so I would prefer to defer that as long as possible.
But, heck, I guess I will put a buy order in for around $13. I will buy more there if it falls there. I don't expect that but If I was smart I would have sold everything at $23+.
RCKY is still my 2nd largest position.And it yields more than any money market or savings account you can find. (Without hoops)
I have a 3% checking account but only on $15k and I have to jump thru hoops to get it. 10 debit card transactions every month.
But what do I know, Im just lucky.
I may have insulted houses of cards everywhere. BLGOs balance sheet is far worse than any house of cards.
But, Im sure "free dinner" stock sale sessions are being planned.
Convertible death spiral financing ?
DFA doesn't pick stocks, they own the market. And tweek it a little.
When I see Dimensional, I know it means they haven't done any fundamental work on the stock.
The Company's Governance, Compensation and Nominating Committee (the "Governance Committee") of the board of directors will make a recommendation to the full board concerning the tender offer. The members of the Governance Committee are all independent directors of the board.
Best I can tell, the Governance Committee is the board minus Biglari & Cooley.
but the underperformance of the last 5 years tells the tale.
they don't view us as partners, we are marks to them.
Long term BH shareholders have taken it on the chin the last 5 years but he brags because his $49.1 million in bonuses visa BCC using BH shareholders monies was less than what it would have been for a 2/20 hedge fund.
So he steals $49 million from us and tells us we should feel good because it could have been $59.9 million ?
Not much of an opportunity. You might make 2.5% but only if its not oversubscribed.
Not really worth fooling with, is it ? If it is oversubscribed you get stuck with a pro-rated tender and then the stock falls back to $380 or lower because it was oversubscribed.
Will be interesting to hear what recommendation the board, less biglari & cooley gives.
I would have expected them to say no comment but they have said they would come out with a recommendation.
Its not easy money. If the stock is oversubscribed, you will only get a partial sell and will be stuck with a stub position. If its massively undersubscribed, the stock could go above $420 fairly quickly.
Selling at $420 is risky. Its worth more. But depending on how many shares are sold, it might tank 40 points.
I hope its just normal insittutional profit taking. I fear someone knows more than the rest of us about sales & earnings for the rest of the year.
Its closer to a buy than a sell for me.
took a 20 page sec filing to say that.