So at the end of the day:
- Added to IR, CX, BCSPRC.
- Sold remaining WFC. Maybe a mistake.
Probable mistakes/omissions: Not buying WSC and BRKB at the open drops. Partial fault of Fido who were not giving me access to cash. Also missed HRAY at $1.73 which was way below their net cash.
Looking forward:
IR - trading below book, but their net tangible assets are negative. Probably stock is dropping on this fact.
CX - ditto + foreign reporting, which is a disadvantage in this economy + some derivative scare.
CHME - below book, but book is mostly made from receivables that may be hard to collect if Chinese hospitals (especially private ones?) have trouble with getting credit.
GPOR - below book. Oil price issues. Maybe should have added it or OXY. Next week. ;)
SLT - below book. A bit unclear what their balance sheet will look in a quarter. Foreign company.
WSC - below book? (tough to calculate due to investments).
BID, SWCEY, LTUS, ASFI - trading at ridiculous prices, but I am not adding more, since I am not sure about the future of these companies.
I own a bunch of rather dinky companies that perhaps I should not own, but at current prices selling them does not make any sense. None of them, except ASFI, are in any danger of BK, so holding them makes more sense. I was too slow to get out of some of them. On the other hand, some of them show paper gains over 10% today - although some of this may amount to ridiculous bid/ask spreads.
Tough to make any definite forward plans in this market. |
