It was time to do spring cleaning for our portfolio.
I decided to get rid of all very small positions. Some of them were initially small extremely risky bets - I recall labeling in blog as "lottery tickets" - shrinking to fraction of what was invested. These included Leading Edge Material Corp (ex. Tasman Metals position) and Nautilus Minerals Inc. (which actually could not be sold since there has been trading halt since Feb 21, 2019 due to restructuring).
There was also a small stake of Wabtec Corp. that we got from General Electric in connection to GE Transportation merge to Wabtec. Nothing wrong with that company except didn't want to stick to a very small position so the call was between adding some more at current valuation or getting rid of that altogether.
Few small Finnish corporations were also dumped as bad calls from my part based on too much reliance for analyst estimates for the "fair price" of these companies. Luckily small positions to start with so no significant damage done.
Once can get rid of Nautilus Minerals Inc. we are down to 23 companies.
No comments:
Post a Comment