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Location: West Los Angeles and Rancho Palos Verdes
13,583 posts, read 15,664,868 times
Reputation: 14049
Bought further shares of:
VZ (Great network and other cell providers use it too.)
OGN (Not a bad little mid-cap pharma.)
MMM (It's still a deal; the lawsuits will not destroy them. Market seems to agree and it's on the rise.)
ALCO (Thanks again to TK for finding this one.)
Just made 4 purchases: added to positions in DIS, TTE, & CLF. Started a new position in BNS at a few cents off its 52-week low.
Quote:
Originally Posted by MadManofBethesda
As far as European oil companies are concerned, I've owned TTE and EQNR for some time, especially TTE. I usually add more when it drops into the 45 range and sell some when it approaches 60. It's worked out well for me over the years.
Quote:
Originally Posted by artillery77
I haven't owned Total in a very long time. There was a time where I had a general aversion to French companies, but I think the latest flirt with socialism has passed. Total is definitely a solid major.
EQNR is a new one for me. Thanks for introducing. Their numbers look great. It looks like a well run company. Ahh....it's the old Statoil. Maybe 15 years ago or so....whenever fracking first got big. We sold a lot of equipment to Statoil. All I'll say is that it was really difficult to get our bills to post to their system. Really difficult. I'm sure it's been worked out since then. The funny thing is, once you know numbers are unlikely to be correct....it actully tends to make them the better buy. They'll manufacture a happy ending until they just can't anymore, and then it's a spectacular crash. That's just in general though. Not necessarily for this company. Anyway, the numbers look really good, but it also looks priced in.
The above series of quotes are from July of this year. I added to my position in TTE on July 14th @ $45.99. Today it hit my usual selling point of $60, but I decided to try something different this time since oil stocks may continue to rise into and through the winter.
Rather than selling my position and waiting for TTE to retreat back into the 40s, I decided to write some covered calls instead. I sold some at a strike price of $70 that don't expire until 01/19/24 and received $350 for each one. I'm also contemplating writing a couple shorter ones as well. The $65s expiring only 6 months from now on 05/19/23 are currently trading at $560.
TTE hasn't hit $65 since 2018, and hasn't gotten up to $70 since 2014, so I should be able to collect the premium and hold on to my positions. However, if TTE (and oil stocks in general) continue to rise, I'd be happy giving up my position at $70 (+ the $350) and maybe even at $65 (+ the $560).
Just doubled up my small speculative position in BROS. It wasn't quite as low as I have been waiting for, but low enough to average me down on my initial shares. I'll double up again if it gets down under $30.
I really like this company, can't wait to get one in my area, though that may be quite a wait.
At this time TSMC has the best cutting edge transistors and the shares have a very low p/e. It's recently been one of the most undervalued stocks that Morningstar covers, based on their fair value estimate.
With that said, I do prefer semis that design and sell products, and especially the ones that sell lower-priced chips. The risks tend to be less across the board at these companies. Many of their products are based on older/cheaper production equipment, the customer base is often very diverse, and inventory has a much longer economic half life. Once a customer has designed a chip into their product (e.g., power tool, appliance, etc) they tend to keep buying that same chip for many years.
At this time TSMC has the best cutting edge transistors and the shares have a very low p/e. It's recently been one of the most undervalued stocks that Morningstar covers, based on their fair value estimate.
With that said, I do prefer semis that design and sell products, and especially the ones that sell lower-priced chips. The risks tend to be less across the board at these companies. Many of their products are based on older/cheaper production equipment, the customer base is often very diverse, and inventory has a much longer economic half life. Once a customer has designed a chip into their product (e.g., power tool, appliance, etc) they tend to keep buying that same chip for many years.
Thanks for the feedback. I am long TXN on the low tech end for exactly the reasons you point out, but with TSM so undervalued, and now that it has Buffett’s blessing, it’s tempting. The geopolitical risk is scary here though, and I usually like to keep my investments here in the good old USA, so I’m learning towards passing on it. Too many considerations make me want to put this one on the “too hard” pile.
Last edited by treasurekidd; 11-15-2022 at 05:40 PM..
The cost of a modern semiconductor fab is staggering. TSMC is building a fab here in Arizona, with a reported price tag of $12 billion, and the possibility of up to $35 billion in total eventually being invested. I've read it takes about four years from breaking ground to seeing first production, so the stakes are pretty huge.
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