Purchase: Disney (DIS)

Don't think you will get rich off this but shouldn't lose money either. Trading near 10 year lows (was about 5% lower before) and coming off pandemic business decline. They recently cut dividend, which is always a bad sign, but their streaming losses are declining.  Risk with Disney (NYSE: DIS) is that they make a lot of money off sports cable television (ESPN) and that is declining and don't know how long they can earn so much off that. Long-term ROE should be 12-15% (median 10 year ROE is around 12%.) Purchase price: $88.78

Purchased more: Southwest Airlines (LUV)

Added more to Southwest Airlines (LUV.) Stock might fall a bit more during recession or due to higher oil prices, but that's hard to predict (recession appears to be mild.)  Stock price is trading near 10 year lows (ignoring 2020 COVID low.) Earnings should go back to what it was pre-covid so you are buying around P/E of 7. Airlines deserve discount but Southwest has historically been the best-run airline. Price: $28.95

Purchase: Southwest Airlines (LUV)

Stock might fall more depending on how recession plays out but I decided to take a small position in Southwest Airlines (LUV.) Going to add more later. Historically, the airline industry hasn't been good for investors but I think Warren Buffett was onto something a few years ago when he took stakes in airlines (before it all went astray due to covid-19.) Southwest is rarely at the current valuations so decided to invest. Hope to write up my research and thinking when I get some time. Purchase price: $29.50

S&P500 sector performance 2022 YTD (Q1-Q3)

As of end of Q3 of 2022, here is how the s&p500 sector performance looks: Source: Visual Capitalist , Who would have thought communication services would be the worst YTD so far? I never would have. Communications, especially media companies, is sensitive to the economy but telecom/cable/etc tend to be more stable so this sector usually does badly but is not the worst during bear markets. There are two reasons communications has underperformed: Recession/economic slowdown: Although the US economy is doing ok, the market is pricing in major slowdown. In particular, market is forecasting big declines in advertising revenue for media companies. This makes sense given that stock markets usually lead actual recessions by something like 6 months. High leverage: Telecom companies leveraged up to crazy levels and riding interest rates adversely impact them. Although the smarter ones (like Charter) took

Sold (liquidation complete): WesternOne

 Liquidation of Western One (TSX: WEQ) was completed earlier this year around February 2021 (nearly all paid out near end of 2019) and I recieved final payment. Total Return: 10.66% (annualized (estimate): 10%)

Purchase: additional Ming Fai (HK: 3828)

 I added some more shares of Ming Fai (HK: 3828.) They announced they will be taking a loss due to worsening business conditions so it's getting a bit risky. But the price seemed low and I researched them a bit in the past so have some comfort level. If covid-19 gets worse, they will suffer for another year. Purchase price: HK$ 0.60