I started a new job and haven’t had much time to trade (or to update this blog, for that matter). Not much has taken place in terms of the number of events, however my portfolio has seen some huge swings.
First, Netflix fell off a cliff. Last we checked, it was flying high in the 200s, now it’s around 70. I didn’t learn all that much from the experience TBH, but I shorted at 221 and covered at 108.
Second, a merger arbitrage blew up in my face. I didn’t have much time to research, but I went into two names anyway, CONM (Con Med) and PNNW (Pennichuck Corporation). I was reassured by the
Third, ORCH drag on and closing
Fourth, tax selling and compounding
TripAdvisor at $25
CRFN went well
Orchard Supply Hardware spinoff from Sears. 40 mm EBITDA for 80.7mm market cap? What’s the debt load?
Long Prisa B shares. Short Prisa A. Capital structure arbitrage.
Cheviot Financial. Check on Jan 18.
Malvern Financial conversion.
Short Prudhoe Bay.
Sound Financial conversion.
Singapore Fund conversion. http://finance.yahoo.com/news/The-Singapore-Fund-Inc-prnews-3636291277.html?x=0