What did you do today?

The sun will rise tomorrow. Not sure about Monday though.
What did you do today?
I sold part of an overweighted position that didn’t go anywhere today, and picked up more SWKS(down 8.3%), started a position in TTWO(down 5.2%), and went back into BOFI(down about 7% today and 32% from a 3 month high) for a third time (I just couldn’t resist).

I lamented my country taking the most stupid unforced self inflicted decision ever over a referendum that completely missed the point of the important discussions that should have been taking place but instead was reduced to a poorly contextualized reactionary farce that has now failed our citizens and neighbors and allies and partners.


Hey that is a great question. Lets see I can tell you what I did not do which is join in the fire sale panic.
First of all I went through the moves admiring the days volatility and continued to evaluate the news among my individual companies.

After the markets closed I sat there and had a little laugh about how ridiculous all this is similar to what Saul posted up board. I went through each company and asked myself if Britain exiting the EU would effect that company. I really don’t think anything Europe or the EU does will drastically effect how many homes will be sold to entry level buyers currently renting apartments in the United States in the case for LGI Homes. I really really think people will continue to desire and purchase comfortable shoes in the case of Skechers regardless of British political association. I think people will continue to need banks to store their money, process transactions and lend out to borrowers. I think people will continue to borrow throughout the economy in the case of BOFI. In the case of Synchronoss I really think people will continue to purchase smart phones, transfer their data between phones when said phone is purchased and desire to backup their phone information on the Verizon Cloud. In the case of Activision I really think gamers will continue to play video games. Some of the serious gamers may not even be aware Britain left the EU or even care because they are too busy playing Overwatch or Call of Duty. The only stock I own that I feel may possibly be effected in any meaningful way would be Proto Labs and I reduced that position recently to a very manageable size. Bottom line this reaction is ridiculous and not good for much more then a good laugh.

As far as buying or selling goes I decided to take a lazy day and sit on my butt not making a single trade. I found it more enjoyable to find reasons to laugh at the ridiculousness of the sell off. If the market goes down it goes down. I will ride it out with little worry as long as my companies keep performing.

After that I played some video games myself. :slight_smile:


I bought 20,000 shares of the longest long shot I have ever played. It cost me all of $204.00. I made $8 for the day, not quite enough to cover the commission. :wink:

I checked to see if I could buy back any calls. No.

I checked to see if there was anything I wanted to buy (besides my long shot). No.

I read a lot of Brexit posts. One thing stood out, the experts were wrong once again. Trust yourself, that way you can blame yourself when you screw up!

I started updating my Portfolio web-app.

I think this is a good time to let the market shake itself out a bit so that prices can catch up with value. One of the great investing virtues is patience when swift action is not required. :wink:

Denny Schlesinger


I learned that I could watch my wife’s progress on my I phone as she made the 16 hour run back to Texas, and I could do it while mixing club soda with a pretty decent mid priced gin and lemon.

Come to think of it. New Amsterdam Gin is out of Modesto California.

14 bucks for a liter of New Amsterdam 485 is not a bad deal.

I wonder if there is an investment there?

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Started a 1% position in LNG. I have 30% cash coming into this Brexit so I’m going to wait a few weeks and see which way the wind blows.

To go on a 30% shopping spree today would mean that I can read the future and I am, regrettably, not that smart.


I went on vacation. Went completely off grid. Didn’t know the results of the U.K. Vote until mid day Friday and was too busy spending time with family to care.



What did I do yesterday? Well, in my end of May summary, I indicated that my largest position, LGIH was about 16% of my portfolio. By thursday it was up to almost 18.5%, just because it had been rising in price faster than the rest of my portfolio. I thought 18.5% was a lot but had no urge to reduce the position. Then yesterday I noted that LGIH was down 0.4% while many other stocks were down 5% to 8%. I sold about 2.5% of the shares in my LGIH position (a trivial amount), and bought more of positions that seemed down a lot irrationally (all down 4%-6% at the time I bought them). But basically I just sat back and watched.

At the end of the day, LGIH still was 18.5% of my portfolio, in spite of the small sale, because it had fallen a lot less than other stocks.



Changing one word would make you sound like you’re from the US telling us how you’ll feel in November upon the realization of a Trump presidency.

Voting Trump would in no way measure up to voting for Brexit. A US president cannot do that much damage thanks to the checks and balances of the US system and I can’t see any of your current candidates leading to a breakdown of the federal system. The closest Trump might come is to exit NAFTA or TPP (and Clinton has threatened exiting TPP also).

In the age of the global economy, integrated trading blocks and open skies and borders, no longer with an empire or commonwealth to trade off and after 100 years of decline; exiting Europe - the only club in town, where practically everyone is a member and triggering the disintegration of the nation is just not smart.

China will divert all FDI away from UK - it has already suggested as much. Frankfurt and Paris will want to dismember the City of London for their own advantage and Wales, Scotland and the North of England are going to have to do without their EU benefactors who they have been living off for the last 25 years or push to break up the United Kingdom in order to rejoin. EU will have to double down on autocracy or be prepared to risk seeing a number of countries breakaway.

All because we couldn’t have a strategic debate over an optimal European governance model (like the USA) vs national governance vs free trade vs isolationism. Instead we had were driven into 2 high risk sub optimal choices - An unaccountable bureaucratic duplicative super state vs isolationism.

My apologies for the political post. I couldn’t resist the opportunity. :slight_smile:

My apologies also - I’m not sure to the rest of the world a Trump presidency would be a less impressive own goal than voting for GWB. Twice! At least Trump is going to provide us with gift of laughter and entertainment but with the re-assurance that Washington gridlock will prevent any real lasting damage.



PLEASE let’s stop the pro or anti Trump posts right at the start. That’s not what this board is about or for, and will only lead to bitter feelings.




At least Trump is going to provide us with gift of laughter and entertainment…

Apparently, TMF doesn’t see the humor as they deleted my post. Yours is probably next.

Bought GBX and DIS today, my first foray into the Brexit discount market. I’m keeping some cash on hand and I’ll wait a bit before I buy more. I think mr market is starting to get high on gold and such stuff and may continue to suck capital out of stock for some time.

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