Thursday, October 27, 2011

Closed Out China Fire & Security Group

I closed out my position in China Fire & Security Group (Ticker: CFSG) yesterday generating a return of 3.25% over a 3 month period (annualized return of 12.72%). I started building a position in this stock in June when it was $7.81 and subsequently added more as the deal neared closing. I sold because I thought the deal would have closed by now and there was better risk arb opportunities out there. I continued to add to Harbin Electric (Ticker: HRBN) as this deal nears completion.

On a side note, I’ve also been dabbling in some silver coins and the 2011 American Eagle 25th Anniversary Silver Coin Set from the US Mint (click: here) is harder to get than the hottest IPO. The US Mint started selling this con set online today and the demand for this coin set basically crashed their web site. I’ve just about given up trying to get this…


100,000 of these coin sets ($299.95 per set) were sold out in 4.5 hours. Here's a picture of the coin set.

Tuesday, October 11, 2011

99 Cents Only Stores = Done Deal

It looks like the New York Post got another one right… They were on the money with the BJ’s Wholesale Club call. Today, 99 Cents Only Stores (Ticker: NDN) agreed to a buyout from Ares Management and the Schiffer-Gold family for $22 in cash. I sold my holdings in 99 Cents Only Stores today at $21.38 generating an 8.19% (491% annualized) return over a 6 day period.

I took a stab at Harbin Electric, Inc. (Ticker: HRBN) today at $21.07. I’ve been trading in and out of this one for the past month. The shorts are all over it, but everything appears to be going as planned for the management buyout for $24 in cash. I try to avoid all of the noise out there from the shorts and just focus on the SEC filings. I believe that there’s a good chance that this one will close.

Thursday, October 06, 2011

Some 99 Cents Only Stores

It looks like the end game is near for 99 Cents Only Stores (Ticker: NDN). The New York Post is reporting that Ares Capital is close to placing a bid for 99 Cents Only Store. The Post is certainly not the best source for M&A news, but they seem to have an inside scoop on this one. Ares Capital will be competing with Leonard Green & Partners for this company. I picked up a few shares today at $19.76.