I sold out of my AMCX position. It was my largest. I am chagrined, greatly, by BIDU. I am sure there’s a reason why it’s lower. Maybe they sell beakless chickens to YUM on the side. Nonetheless, I remain a shareholder.
Surveying the field, I see dead bears strewn everywhere. Commodity related names are up 20,30, 50% over the past week, which makes it hard to buy. But I did so, nevertheless.
I added to my SLCA position, not giving a single fuck about the oil inventories that just came out. This isn’t a fundamental story, but liquidity driven squeeze.
Also, I bought GILD down here. I realize biotech is hated. Good thing this isn’t biotech, but instead, one of the most profitable and innovative major drug company on the planet, selling at an absurdly low valuation of 10x earnings.
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There is only one thing in the world that matters: the dollar and the economy and the Fed.
AMCX is still cheap. Any change in thesis or just locking in profits?
I’m still trimming EOG and adding ABT and ABBV. When I get bored I buy a few AAPLs.