저자: 미상 · 외국인
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찰리 멍거 사후 Daily Journal의 13F에서 알리바바 지분 35% 매도가 확인됐다. 알리바바는 Joe Tsai 복귀 후 자사주 매입을 크게 늘려 누적 1,225억 HKD 이상을 집행했고 약 320억 달러 규모 잔여 승인이 남아 있다. 진행자들은 주가가 69~75 박스권에 갇혀 있어 주주 보상 신호는 긍정적이나 매수는 하지 않고 커버드콜을 유지한다고 밝혔다.
다듬은 글
for those of you who've been following this channel for a while you know that Dylan and I are both Alibaba bag holders we were inspired by our main man Charlie Munger but unfortunately looks like post hosly he maybe sold a little bit Alibaba shares we're going to talk about that we get to some other Alibaba news from this week get to it two guys STS all right so you know the Daily Journal corporation uh you know famous kind of portfolio for Charlie Munger here to get to see what he was thinking individually outside of the shadow of Warren Buffett uh they filed at 13f filings very very early uh they just filed it this week for the the quarter that just ended March 31st and it looks like they sold a little bit of everything this is kind of the first move that we've seen since Charlie munger's passing um but they they decreased their Bank holdings looks like about 11 13% for the you know kind of basically all he owned his four stocks within that portfolio and the Alibaba uh kind of stake here they they trimmed a third of it off 35% of the the shares they held were were sold in the last quarter this is not the first time they sold it remember a while back Charlie Munger actually sold it while he was still alive a little bit of Alibaba Tri back he like doubled down and bought even more and then yeah yeah so there yeah yeah I imagine the size of the position got to the point where other people within the the corporation were starting to ask as some uh pointed questions in his Direction and uh now he's no longer there to really defend his his purchase of Al Bob shares and he also is famously quoted this saying like he realized it was just the retailer after he bought it um and uh you know it's not surprising now he seeing that The Heirs at uh Delhi Jour Corporation are trimming back their their shareholdings here right um yeah so you know I feel a little bit more kind of focused in view here but 105,000 shares uh were sold in the most recent quarter but they're selling across the board so it's interesting I don't know if they're they're trying to deleverage Der risk a little bit or if they were trying to raise cast for a specific purpose now that they're moving into the post Charlie moner era what are your thoughts I don't do we know who's taking charge of this I mean it might be out there it's it's not anyone like you know household name that way the information is probably out there probably a committee let's be honest let's you see how it goes it does help that he sold a little bit of everything but I mean it's it's clearly one-sided towards babo so yeah yeah absolutely well I mean it wasn't even the largeest position before either so it's kind of certainly more focused there but we got some some positive news so you know we're definitely moving into a different era I would say with Alibaba where you now you have Joe Sai back more involved in the day-to-day management and one of the things that looks like he's been doing now since he's been a little bit more involved is they're giving us a little bit more data on like a kind of shorter term basis right so just you know two days after the quarter closed here basically for first quarter of 2024 calendar quarter it's actually the last fiscal quarter of their their calendar year um but we got a update as far as the share repurchases for Alibaba Corporation um as of the like the close of this quarter they had repurchased a total of 122.5 billion do in shares for the year 4.8 billion of which was done in the most recent quarter so they're putting that money to work at a time when you see the stock at a very very cheap valuation which is nice to see as opposed to many of the American tech companies which are buying back shares when the you know Shares are at all-time highs um so this this goes a long way um in fact we'll see it here on the next slide but they actually reduced the number of shares outstanding oh I actually on this one as well 5.1% uh net reduction last year so that's awesome because that was our biggest complaint for Baba over like the last three or four quarters is their share price is super low and if you believe in the company and you're like all right this is crazy low let's because they they have an authorization for I don't remember how much it was a lot yeah 20 billion mention it it's the next slide oh okay I'm glad they're finally finally utilizing it oh look at that ramp up let's go yeah yeah yeah exactly you know you're seeing things go in a positive direction um you know the year before they had 3.9% they actually had 5.1% reduction in shares out sending this year and like I said Joe Si's only really been in charge for the last like you know couple quarters you're starting to see a little increase in the number of share repurchases here so 1.7 billion to 2.9 to 4.8 he's definitely putting some money to work which is awesome to see they still have almost $ 32 billion dollar in authorized shares to you know or funds to repurchase shares you know as of now so you know even without an increase from that from the board there's a lot more share BuyBacks they can they can do I went ahead and added it to the macro Trends um you know kind of uh graph here this little gray bar is the addition for the most recent quarter because I think it was 2.43 um billion adss outstanding so this is where it would look like after the most recent quarter um definitely making some some decent room here obviously you know you gotta look pay attention to the scale it's still a lot of shares that are outstanding um but they're making some some good chunky moves towards using that cash and buying back shares and reducing number of shares outstanding thereby increasing our own personal ownership of H right so I foret exactly how many different shares I own but my main portfolio is 100 shares if you think about it from that that standpoint is they have another five shares worth of ownership like B without me doing a damn thing as far as buying more which is kind of cool to see I don't know how much I have I'm checking I think you have 350 I have a lot more yeah nice the stock has done absolutely nothing it's just locked in the channel here right now right well yeah I'm 380 you say you're almost 400 that's like an additional 20 shares that they they gave you in the last 12 months in terms of so share purchase except the stock price has not in any way shown this right you would have if you like you just said we're locked in a channel between like 69 and 75 and we have been for like five months now it I hate these terms don't hold what I'm going to about to say against me but if if you look at these graphs people will always use hindsight but they will say that this is sometimes in an accumulation phase uh insiders right it doesn't me it doesn't mean a lot it's just when you're at a low price your shares your share repurchases are going up and the stock price is not changing yeah once again it's always hindsight when they say that so I hate even bringing it up but no I get it man this is all garbage we're all just doing our best um I just wanted to highlight here though is that this is a new thing for alipa I I couldn't find this going back into the last couple years basically they've done this twice now where right after the quarters ended they they announced the sh purchase numbers this is this is a Joe Sai move now that he's back in charge and I love it because what does it signal it signals that they care about uh rewarding shareholders and that they're trying to show that they're putting in an effort to reuse their cash to reward shareholders that's definitely a shareholder Centric like Centric mentality you know you even seen other things here too like I'm not even really didn't get into this but they basically withdrawing their their IPOs for other products what just fine with me you know if you cannot get a higher premium by listing this thing publicly keeping it inhouse and keeping working for Alibaba entirely is what I'd like to see I think they're making long-term prudent uh financial decisions and I'm happy to continue being a shareholder of alib Baba and we'll do so for quite some time that's why will you buy more at this price no there I'm still not buying more I'm still selling my covered calls against it too actually which is fun I actually even rolled it down the most recent one because it like you know basically the theeta Decay was so rid that I was like ah I can probably pick up a little bit more premium so I did I'm still too afraid on Baba that's terrifying but fair enough that just jumps around so much all right guys let us know if you think the The Daily Journal I almost said Charlie Monger RP the The Daily Journal move actually means something and uh if you're stoked about the BuyBacks yeah catch you the next one
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