Hyatt Hotels Corporation Class A (H)

We are now in one of those times, like 52 years ago in 1968, that we and our children will always remember. Many of us have spent the weekend watching America burning in despair. As I write this missive, an extended portion of I-95 (in Palm Beach) h...

* I have liquidated a lot of my long positions and have been averaging into Index shorts lately * I worship at the altar of fundamentals and not of price momentum * Monday I will present a more lengthy analysis of my concerns over the balance of 202...

I am again considering my former speculative basket of Hilton Hyatt and Vornado -- that I previously profited from in a short-term trading rental. The next leg lower I will be a buyer.

* This month I learned that being long can be fun. * Breadth has been stuck at 4-1 (positive) for several hours. * Again, we could be seeing a powerful pivot away from growth and towards value. (I am hopeful that this is the start of such a transiti...

* May be viewed as possible trading rentals I often defer to the old trading adage that stocks that are green in a sea of red can be considered as trades on a turn in the markets. Today's candidates on my screen that are trading higher include , , a...

My large put position has a lot of gamma - so as stocks decline, I get shorter. I plan to buy back a number of stocks that I sold out (e.g., , , , etc.) into a further drop in order to maintain close to a market neutral exposure.

* My revised levels I don't want there to be any ambiguity about the size of my positions or about my buy and short levels as I strive for as much transparency as possible. "When the time comes to buy, you won't want to." --Walter Deemer "When the t...

* I reduced my net long exposure today from large to medium-sized * I based my move on the large (+19%) and abrupt 10-day market advance from the lows that has taken the S&P close to its "fair market value" and that had reduced the upside/downside e...

In response to the S&P Index approaching my "fair market value" (of 2800), and in light of the magnitude of the move from about 2185 to 2750, I have made the following moves this morning: * I have reduced my very large position to medium-sized * I h...

There is an almost universal view that this is a good time to step up the quality of your portfolios. That observation is not necessarily correct. As I have frequently remarked, if we have seen the bottom in mid-March and there is a consequential up...

On Friday I added to my speculative lodging/real estate theme ( , and ). Though certainly not without risk (!), there may be a lot of excess return opportunity at current prices in this package. The average of these are about +10% in today's trading...

This afternoon (and on weakness) I have made the following trades: * I have added to my new investment long Morgan Stanley . * I am bidding for my speculative package of stocks that will benefit mightily from a sooner-than-expected containment of Co...

* Will be forthcoming... At all times, but particularly during a crisis, circulating bottom-up investment ideas is of paramount importance. Don't get me wrong, a market view is very important - and so is the analytical discussion surrounding that ma...

* If Covid-19 is contained reasonably soon * There is a place in most portfolios for some speculation Speculation takes many forms. Sometimes speculative stocks are small caps that trade their float every few days. Sometimes speculative stocks are f...

The mouse is roaring... Disney over $102 (Trade of the Week at $93 yesterday!). Added to banks, ViacomCBS , Goldman Sachs (last week's Trade of the Week) and hotels,  and .  

and have been great stocks off of the recent bottom. Staying with these as investments despite the big move in the last four days.

Should the stock market continue to follow through after Tuesday's historic advance traders and investors will be faced with some tough decisions: * Does one sell off the trading layer of our portfolios? * Should we maintain our longer term investme...

Over the last few days I have established new positions in , , , , , , ,  , , , , and some other more speculative investments. I also initiated a long S&P futures position which I will jettison on an extension of this rally (if it occurs).

If I only owned , , , and  , I would feel very good today. Alas... that is not the case.

Expanded (I don't think I mentioned buying on Friday - was $90 last month, now $47),  , and this morning.

* Before you read this opening missive be sure you understand your risk appetite and profile as well as your time frame * I see a possible "generational" investment opportunity developing and I am now even more aggressively buying for the intermedia...

The picture looks even grimmer for American Airlines , United Airlines , Delta Air Lines , Jet Blue , Hilton Worldwide , Hyatt Hotels  and others in the travel and hospitality sectors. The unprecedented 30-day travel ban from Europe is the latest bl...

As the Fed press conference drones on with nothing new being shared, let's turn our gaze to what we'll be facing after the close -- more earnings! A quick scan says we have roughly 135 reports coming at us in just over one hour's time. In terms of t...