Friday, March 26, 2010

Sold Rautaruukki

I sold my Rautaruukki (Helsinki: RTRKS) shares today as I want to move that money to sectors that I believe will do better in the future. I think Rautaruukki is a fine company, but the business it is in is too cyclical for my taste.

I originally picked it up because it was selling below what I thought it was worth. Also, I believed that the cyclicals were hammered low enough (and they were). My problem with cyclicals _now_ is that I no longer believe in full recovery of the economy. Therefore, I want to pick companies from more defensive sectors.

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