Be Greedy

Warren Buffet has a saying be fearful others are greedy and be greedy with others are fearful. i took his approach after finally learning the details of this lawsuit.

I believe that applies to this buy i did today. I was not going to buy anything had no plans but upon further review after looking at the circumstances of the lawsuit that is being brought on by independent drivers of Flowers food. I have seen a lot of buys from the DGI community and i typically like to make my own buys but i think this is one that you regret 10 years down the road if you dont make it now.

This lawsuit is being brought on by 190 some drivers who are contracted drivers out of  all that they have similar suit to what UPS was being sued for they settled out of court for 250 million.

Most likely  this will be settled out of court for around the same compensation 60,000 per driver.  while it will dig into their bottom line a bit they have enough to withstand the payment and continue.

Now onto the buy.

I bought 85 shares into my first postion. total cost 1304.82 including commisions.

Its dividend is 64 cents a share its current dividend yield is 4.20. this purchase will add 54.4 dollars a year or 13.6 a quarter

Disclaimer… I am not a proffesional stock picker so please do not take my word that you have to buy this stock if you do its at your own risk.

I am long on flowers food stock.

 

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Author: dividendsandhobbies

A Christian first and foremost. I love to invest fish grow a garden etc.

24 thoughts on “Be Greedy”

  1. I bought FLO at 18.80 and sure enough, dropped 20 % after I initiated a position in it. I still think its a quality company and I am ready to add more.

    Just started a my first blog after starting my DGI portfolio back in Feb 2016. LOL, new to blogging so its still a work in progress as I figure out.

    Liked by 1 person

  2. I’d really like to average down some more but it’s quite a big position for me already. I may still do it though considering my purchase options are a bit limited with the markets at these levels. I have my eye on CSCO and VZ as well though. Well see what happens. Thanks for the update.

    Liked by 1 person

  3. Ciao DNH,
    I am an happy FLO owner too, and started selling options too against the stock. It’s a good company that had a double whammy thanks to not so great revenues in the last quarter and the lawsuit that you mentioned. But fundamentals look good to me and they make BREAD (second only to the mexican group Bimbo). Way to go also with the dividends, I see you’ve just started, but trust me it will only get better! 🙂
    ciao ciao
    Stal

    Liked by 1 person

      1. Ciao DNH,
        Oh I see, sorry! I judged by the amount of dividends in August, so it’s my bad actually… I’ll put you in my read list so that I can keep track of the developments, from a quick look it seems that we have several shares in common… Any chance to add a portfolio section anytime soon?

        Liked by 1 person

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