The Dean’s Trades: Bought TM @ $65.39
October 8th, 2008 at 2:17 pm Posted by The Dean
I bought Toyota (TM) @ $65.39 and also purchased some April 2009 Calls w/ $90 strike price @ $2/contract. I’d love for TM to fall below $60… than i’ll place a much bigger call options bet (maybe April 2010 calls to give TM plenty of time to recover).
Once all this “Chicken Little / Sky is Falling” Hysteria dries up, I’m expecting a big flight towards profitable manufacturers who sell high quality, reliable products worldwide. Like I said HERE, “the sky may be falling but Toyota never will.”
TM is trading below book value (total assets – total liabilities) and thats very rare to find among leading manufacturers. TM has $16/share in cash and the last time their P/E was under 7 was back in 1993.
