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Sanrith Descartes

Sanrith Descartes

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Sanrith Descartes said:
Took a starter position in the King of the Boomer Stocks (MMM). They have some issues (mainly on the expense side as their SGA costs are out of whack) but these are fixable. They have been paying down debt (only about 2x LTD to EBITDA) and still have a solid positive cash flow. Revenue is pretty flat but its a value company. Its currently at a 6.3% dividend yield so it only needs 4% stock price appreciation a year to beat the S&P return.
Click to expand...

MMM with the double beat. It looks like they took my advice..

"Industrial group 3M lifted its full year profit forecast as a cost-cutting drive to offset slumping sales, as well as billions in legal liabilities, looks to have supported third quarter earnings."
 
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Sanrith Descartes

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Someone sold a block of SPLG for $44m at 9:43 this morning. SPLG is the S&P 500 index.

1698156382312.png


Someone sold a block of SPY at the open for $140m

1698156435104.png
 
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Furry

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50 pmi is no change and higher is growth while lower is retraction. Pretty meh. Not world ending or anything, but not good either.
 
Sanrith Descartes

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Cut out of my RTX position at breakeven. My price discovery was ass on this trade and I am happy to bail at zero. I did well on the other 4 MIC stocks but screwed the pooch on this one.
 
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Lightning Lord Rule

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Question for the JEPI bros: one of the 'research items' listed on their info page today mentions SPYI. It's all glowing stuff, but not mentioning that it's down ~10% in the last 8 weeks or so, like a lot of other things. 'YTD Is good tho!'

Anyway, my question is: what do you guys think of that one? Looks like higher yield with higher volatility compared to JEPI to me. Looking at their distribution page though, it looks like they pay monthly, but haven't paid for October yet, and there's no announcement for it either. Seems odd unless I'm missing something obvious...
 
Sanrith Descartes

Sanrith Descartes

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Lightning Lord Rule said:
Question for the JEPI bros: one of the 'research items' listed on their info page today mentions SPYI. It's all glowing stuff, but not mentioning that it's down ~10% in the last 8 weeks or so, like a lot of other things. 'YTD Is good tho!'

Anyway, my question is: what do you guys think of that one? Looks like higher yield with higher volatility compared to JEPI to me. Looking at their distribution page though, it looks like they pay monthly, but haven't paid for October yet, and there's no announcement for it either. Seems odd unless I'm missing something obvious...
Click to expand...
JEPI and SPYI are fundamentally different products when you look at their composition.

SPYI has the top top holdings (all equities) making up 31% of the fund.

1698166834172.png


JEPI's comp it totally different, is smaller by 2/3rds, and uses rolling SPY call options as part of its strategy (I could be wrong on the specifics of this last part, though since I am going off memory).

1698166997382.png
 
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Sanrith Descartes

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For those who dont follow it, GOOGL, MSFT and V are all reporting earnings after the bell today. That is a boatload of market cap reporting.
 
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Mist

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Damn, Microsoft's huge overperformance in Azure made Google's modest underperformance in cloud hit a lot harder.
 
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