Wednesday, July 26, 2017

Sold Scripps Network Interactive

I sold my position in Scripps Network Interactive (Ticker: SNI) today at $83 generating a net gain of 1.99%. I don’t see a big premium from here if it’s an all cash bid from Viacom (Ticker: VIAB). I'm just playing things conservatively in this market environment.

Tuesday, July 25, 2017

Bought Scripps Network Interactive

I’m bit late to the table, but I took a small stab at Scripps Network Interactive (Ticker: SNI) today at $81.38 (6% position). It looks more and more likely that Discovery Communications (Ticker: DISCA) will come out as the winning bidder for Scripps Network (Ticker: SNI). There’s probably not much of a premium at the current price, but I believe there’s still some money to be made. We’ll see next week if Viacom (Ticker: VIAB) or Discovery Communications emerges as the winning bidder…  

Sunday, July 02, 2017

June 2017 Performance

I can’t believe we’ve already reached the half way point of the year… I just squeaked out a gain of +1.34% for June with help from Constellation Brands (Ticker: STZ), which announced strong results this past week with the stock hitting new highs. It’s been an amazing run for Constellation Brands as the company was the prime beneficiary in Anheuser-Busch InBev’s (Ticker: BUD) acquisition of Grupo Modelo back in 2013. I believe there’s still plenty of upside remaining in the stock as their Mexican beer portfolio: Corona, Modelo Especial (my favorite!) and Pacifico are continuing to gain strong momentum. This is a keeper for the foreseeable future.

June was definitely a quiet month for me as I did not execute any trades. Just sat around waiting for a good risk / reward merger arb opportunity.

Now looking back at the past 6 months, I guess the trade that stands out the most was the blowup in Rite Aid (Ticker: RAD) back in January. That trade really made me focus on risk management. So in a way, I’m glad that I was able to experience this loss in the beginning of the year and really build from the experience.

Here’s a snap shot of my current portfolio:

That’s about it for now…   

2017 Performance Year to Date = +23.54% with the running monthly returns as follows:

January -4.50%
February +10.18%
March +5.1%
April +4.34%
May +5.67%
June +1.34%