Decided I'll up my very few shares of oil tanker stock, General Maritime, GMR.
I've not done well with this one, having started an exploratory purchase last year @ $46.81 and selling some shares as the stock dropped. Now @$37.50...after the stock has moved up from lows, I'll add back just a few shares (at prices higher than I sold at). This after re-looking at the stock based on a favorable fund manager's comment on Bloomberg Friday.
finance.yahoo.com
The positives seem to be:
a modern fleet
shareholder emphasis with buybacks and dividends
emphasis on strong balance sheet (no net debt)
Not happy to come to the conclusion that maybe I've been late to add and that I maybe should not have been selling. These errors happen sometimes though due to combination of sloth and risk with a highly diversified portfolio. The risk of not following and/or understanding a position carefully enough because it is so small and tucked in amongst many, many other stocks.
And even now, still just a very small exploratory position for me.
-----
Sold exploratory position VOXX at about breakeven. Stock might interest some - lots of cash, and some value investors are in it. I got scared - their portable satellite players have emission problems, according to the FCC:
forbes.com
On the one hand, this might all already be in the stock, the company alway seems borderline as regards profits or profit margins, and its strength seems to be its balance sheet. For me, I'd rather leave this cigar-butt on the ground for now, and maybe come back for it later. jmo. |
