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From the Blogosphere
Bookkeeping: Closing Out First American (FAF) Post Earnings
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First American (FAF), a title insurance firm (predominantly) reported earnings today and while they are very good on the quarter they are guiding for some softness go forward. This is not a surprise since Cash for Cul-de-Sacs plus seasonality (more homes sell in spring, summer than fall, winter) kick in. The chart is beginning to weaken as well, so we're going to exit this name which was a backdoor play on "housing recovery" and remind ourselves to load up on every form of housing stock next March so we can cheer the labeling of green shoots that bulls will read into "improving" housing m< />< /><><>< />< />< />< />< />< /><><><>< />< />< />< /><>< />< /><><>< /><><>< /><>< /><>< /><>< /><>< />< />...
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Fund Performance Period 10
Bookkeeping: Many Limit Orders Hit
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I had a bevy of limit orders hit this morning - these are all mechanical trades that I set out earlier and just happened to hit at once this morning.
First the limit purchases - these are not huge purchases but get us some exposure at far better prices than were to be had the past few weeks. All together about 2.75%
- BHP Billiton (BHP) @ $62 (executed at $61.77) - added about 0.75% exposure
- Blackstone Group (BX) @ $13.66 (executed at $13.44) - added about 0.75% exposure
- E-House Holdings (EJ) @ $20.55 (executed at $20.04) - added about 1.25% exposure
Please note - we just sold EJ out yesterday at...
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Bookkeeping: Selling Most of First American (FAF)
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Enough is enough - pigs get slaughtered. I am selling all but 25 shares of First American (FAF) at around $31.90 - I wish I could say there was some special insight I could offer here on reasons for the run. I see many stocks with the same look... parabolic.
[Jul 30, 2009: First American Profit Triples]
[Apr 30, 2009: First American Beats by a Mile]
 We'll buy back when the market next falte... ah, nevermind.
p.s. a moment of condolence for anyone trying to short commerical REITs: many of which have rallied 30-40-50% this week alone. I was once one of you circa spring 2009... I'm sorry for yo...
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First American (FAF) Profit Triples
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I obviously did an incredibly poor job of checking to see who was reporting today, First American (FAF) (title insurance) another decent sized holding reported this morning and put in a great number. Unfortunately this name has been so tied into mortgage rates (I think incorrectly) but you can't argue with the market. It's such a quiet stock I missed the breakout the past few days as well... hmm. Need to clone myself, right quick - not enough hours in the day.
Looks like they beat estimates by 16 cents, which makes the weakness of the stock everytime it was hammered when mortgage rates ...
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