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re: Best place to invest today?
Posted on 5/17/16 at 6:22 pm to Iowa Golfer
Posted on 5/17/16 at 6:22 pm to Iowa Golfer
Believe me Im almost completely out of equities, I took a monster capital gain on MO last week at $61.xx the yield isnt there for me to be a buyer anymore and PM I sold half my stock over $100. I sold puts to get back in cheaper but where these historically monster yield hogs are trading today is nowhere near where I wanna be. Ive been a PM owner for 20 years just about and i cashed out my MO stake from it last week, thats where I stand on this market. You cant buy low growth names like PM and MO and these crummy yields. PM was a $75 stock a year ago, names like that dont move 33% in a year, thats tech name type move. I also dumped mcdonalds out of my portfolio last month. I have a ton of cash and am content selling puts for now. Very few longs in my book, 6 to be exact right now. The rest are cash secured puts i sell.
Posted on 5/17/16 at 6:42 pm to dabigfella
Separate topic. Are you the gentleman that owns on SB? If so, have property values recovered? I own in Broward. Pompano. Lauderdale by the Sea. In that area. I'm thinking about downsizing that part of my stuff. Long distance landlording to the extent I have to do it now isn't what I want to be doing. I think I'll keep 2-3 condos, and let someone that has more energy, and is more aggressive play in that arena.
Separate topic to the second power. How do you stand that overpriced and marginal food when you down there? I went down there to see the Orange Bowl, and I stayed for three weeks. I considered buying on the west side of Biscayne. I retrospect I should have. I could have gotten in for $80K, and I think the cheapest stuff right now is 4X that. That was winter 08-09. But the food, and the prices people paid for garbage food made me hate the place. I drove to mid town for breakfast, and for dinner went into Broward every night. Fogo de Chão was about the only place worth paying for, and even then overpriced for marginal food. I thought the Latin line dancers in the street was a neat thing to see. And one New Year's Eve the Moonies showed up in a bus. Yes, no lie, the friggin Moonies showed up in SB New Year's Eve. Talk about a dichotomy.
Separate topic to the second power. How do you stand that overpriced and marginal food when you down there? I went down there to see the Orange Bowl, and I stayed for three weeks. I considered buying on the west side of Biscayne. I retrospect I should have. I could have gotten in for $80K, and I think the cheapest stuff right now is 4X that. That was winter 08-09. But the food, and the prices people paid for garbage food made me hate the place. I drove to mid town for breakfast, and for dinner went into Broward every night. Fogo de Chão was about the only place worth paying for, and even then overpriced for marginal food. I thought the Latin line dancers in the street was a neat thing to see. And one New Year's Eve the Moonies showed up in a bus. Yes, no lie, the friggin Moonies showed up in SB New Year's Eve. Talk about a dichotomy.
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