I do like to get up early, even on vacation. This is an early rising place, we are just off a commercial fishing pier. These fishermen get up very early. I suspect it is not so they can check on what has happened in Asia.
I Hate It When That Happens!
Besides my portfolios, I do flag stocks that I am considering from time to time on this blog. One that I mentioned, and put on my watchlist a month or so ago was VRTV. What interested me about this company was it was a spin-off from IP. As I have commented many, many times here - stocks that are spun-off are often incredible deals for investors. Greenblatt wrote at length about this in "You Want To Be A Stock Market Genius". There are numerous studies backing up his assertion - when a company is spun-off, institutional investors often have to sell it as it may not meet their requirements (dividends, market cap etc). Then you all of a sudden have laser focus of a management team and they can often find ways to add value.
When I flagged VRTV it was at $36.40. It promptly dropped under $34 as institutions sold it. Also, seeking alpha wrote a very negative article to add fuel to the fire (International Paper's Spin-Off And Its Subsequent Merger Creates Veritiv, A Prime Short Candidate).
Guess what? Investing legend Seth Klarman the other day announced a sizable stake (Seth Klarman Buys 14% of Newly Formed Company Veritiv). The stock popped 16% on the news and is now up 23% from when I flagged it and over 30% since negative SA article on July 2nd.