Thursday, January 24, 2008

More Harrah's

Not much going on with my portfolio these days. I’m just watching from the sidelines and playing it conservative. Yesterday, I picked up more Harrah’s at $88.86 as a buyout play. This deal is expected to close on Monday for $90 per share in cash. There’s always risk that this deal may fall apart at the last minute, but that’s why there’s the risk premium in the stock. This is one of the stronger LBO plays and my bet is that this deal will close.

Here are my recent trades in Harrah’s:

12/13/07 Buy @ $87.08
12/21/07 Buy @ $88.60
01/23/08 Buy @ $88.86

I guess we’ll see on Monday if it closes…


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