Middle Coast Investing Q3 2024 Investor Letter: Transitions And Timing

Daniel Shvartsman profile picture
Daniel Shvartsman
1.55K Followers
(20min)

Summary

  • Transitions were the theme of Q3 for the market and Middle Coast Investing, for better and for worse.
  • While indices hit new highs, several of our stocks are stuck waiting for a turn in the environment or a new normal.
  • We discuss what is going well and what is falling short for names like Progressive, Atkore, Charles Schwab, and more.
  • We also share our thinking on new positions like Apogee, ABM, and DMC Global, and why we added to DallasNews and OMAB.

Monarch Butterfly emerging from it"s chrysalis

stanley45

Transitions, Macro…

The third quarter of 2024 proved to be a frustrating one for Middle Coast Investing. Our portfolios rose as a whole, but lagged both the main indices and our closer benchmarks, the Russell 2000 (one quarter after I said it

This article was written by

Daniel Shvartsman profile picture
1.55K Followers
I am a long-term stock investor and registered investment advisor who has been investing for the past decade. I started Middle Coast Investing, an investment advisory firm, in 2023, and have managed my own accounts as well as those of a few family members and friends, mostly U.S. based (I manage one Europe-focused account) for the past decade plus. I am also building a guide to investing called a Short Investing Guide, and exploring other projects.Please see performance disclosures.I worked for Seeking Alpha from 2012-2020 in a variety of roles, most recently Director of the Seeking Alpha Marketplace and host of the Marketplace Roundtable, as well as Podcast coordinator and co-host of the Razor's Edge. I previously worked as managing editor of Seeking Alpha PRO and director of Content Strategy. You can find my previous SA account in case you want to see any of my work.I founded a podcast studio - Shortman Studios - in 2020, where I co-host the investing podcast The Razor's Edge as well the music podcast A Positive Jam. I continue to co-host The Razor’s Edge with SA author Akram's Razor. The show is an investing podcast that combines a prop trader’s viewpoint and deep-dive fundamental research to provide a unique take on the markets. We start with a theme or idea from Akram’s investing, then break it down to understand what goes into the idea, what could go wrong, and what else investors and traders need to know. We also interview industry leaders, executives, and other investors to get a wider perspective. The show has thousands of listeners around the world. You can subscribe to the show wherever you get podcasts. I also worked from 2021-2023 at Investing.com as VP of Content, doubling our page views and search reach for unique content and overseeing an acquisition and integrating it into our team.I currently live in Valencia, Spain, with my wife and two felines, though we go back to the Lake Michigan coast in Michigan when we're in the states (the felines stay in Spain - they don't fly well). I'm the son of Russian Jewish immigrants and grew up in Massachusetts, and have lived abroad more or less consecutively since 2008. I love languages, visiting other places, writing, reading, music, and meeting new people, along with investing.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of AAPL, AMZN, PGR, ACLS, OMAB, DFS, FG, AVGO, FCNCA, AER, ATKR, LULU, BKNG, VMEO, SCHW, APOG, ABM, BOOM, JPM, HSY, TRV, DALN, ATRO, ADM either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article.

Please read our full performance disclosures - https://middlecoastinvesting.com/performance-disclosures/ I am also short KRUS. I may change positions at any time. I have no immediate plans to make major changes. This is not investment advice. Investing is risky. Any investing decisions are your own responsibility and should be taken after speaking with an advisor or at your own risk. This is not a solicitation to buy or sell anything. Past performance is of course no promise of future results.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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SymbolLast Price% Chg
DFS--
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FCNCA--
First Citizens BancShares, Inc.
FG--
F&G Annuities & Life, Inc.
PGR--
The Progressive Corporation
SCHW--
The Charles Schwab Corporation

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