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%


At July 05, 2017, Anonymous said...

FTC approved Cabela. Last hurdle is the sale of its bank to Synovus. The spread is still about 3%. Seemed like a good bet now? I m in a big position.

At July 05, 2017, Blogger Money Turtle said...

I was looking at CAB today after the FTC news. I agree that the risk / reward is decent here...

At July 05, 2017, Anonymous said...

the bank merger was moved to board of governors' action so there could be a max of 90 days (can be extended but unlikely) review after submission. I understand that the submission date is 19th April from the DEFM14A. Before the agreement was inked, Synovus had discussions with Federal Reserve Bank and therefore I am sure they are confident that the revised bank merger agreement could work.

So we are looking at end of August approval latest.

At July 20, 2017, Anonymous Anonymous said...

any thoughts on SNI and ABCO? both seems very close


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