Hello Pezz, Today’s Third Report:
I sold the entirety of my Anglo American Platinum and my SASOL in South Africa, and have moved the ZAR cash to GBP space.
I sold these AngloAmerican Platinum Message 17596593 <<June 13th, 2002>> (buying at ZAR 458/shr) and Message 18897343 <<April 30th, 2003 … ZAR 197>> for ZAR 305/shr, losing 8% (accounting for dividends) on the aggregate trade in ZAR terms, but gaining 23% when accounted for in USD measure.
Moral of the trade? When all else fails, average down might work; dividend is good; and strengthening currency is also good.
I sold SASOL Message 18141229 <<October 22nd, 2002>> at ZAR 103, recognizing a 4% loss in ZAR measure, but when considered in USD term, gaining 29%.
Of course, if I choose to do my accounting in Zimbabwe Dollar terms, I would be up thousands of percent ;0)
I sold the above two because they failed to perform, even as the underlying commodities rose in price, but in USD terms, the cost in ZAR was rising even faster.
I still hold Impala Platinum (which accounts for 50% of my ZAR wagers) in ZAR territory that was bought Message 17596593 <<June 13th, 2002>> (ZAR 623) and Message 18693558 <<March 12th, 2003>> (ZAR 464), which is now at 592, and the position is in ZAR positive gain mode, and in USD massive positive gain mode.
J |
