Everest Re (RE)

[nodoodahs]

Poor earnings report, mostly due to Katrina. Came in at the bottom of the analyst's estimated range and well below the consensus. Conference call is 10am on 10/25. Depending on tomorrow's early action, I may be stopped out by the time of the call ...
_________________
I haven’t seen a beatin’ like that since somebody stuck a banana in my pants and turned a monkey loose.

[nodoodahs]

I try to sell based on the fundies of the company(s) involved and not based on market movements, so I've held (and am holding) some stocks at below their purchase price today.

In this case, the earnings were near the bottom range of estimated and well below consensus, leading me to believe the stock will fall, over the next few weeks or so, enough for me to buy it back and still make a profit after taxes. I also have a stock or two in mind that may present better opportunities.

This is almost a repeat of the MGA sale, where I took the profit and rotated into another stock, based on a restatement of guidance that I figured would reduce the price 10% or so. It took a couple of weeks, but MGA is now well below where I could have booked the profit and bought all the shares back after taxes, which doesn't seem like a bad deal to me.

I've made 14 purchases (15 by this time tomorrow) and 4 sells this year.
_________________
I haven’t seen a beatin’ like that since somebody stuck a banana in my pants and turned a monkey loose.

[victor]

Hello Bill,

lately a lot has been discussed about what/when to buy.
Now I think it would be interesting also to know your point of view about when to sell.
I have a clue from your past postings, but I believe it will be valuable for everybody to refresh the concepts, perhaps in your monthly commentary.

Best regards.