My top 10-ish positions in no particular order: IGK/IDG, NRF-A/B, UVIC, GPOR, EBIX, IDCC, GILD, FR-J/K, COPJF. No changes.
New positions: MHR-C, UFPT
Positions increased: CEU, GFRE, NEWN, UVIC
Positions reduced: GRVY, IGK, NOK
Positions eliminated: COH
With some travels, I did not buy and sell as much as I probably would have otherwise.
Fixed income market is getting quite expensive and not very attractive. I sold some more IGK and may sell other prefs with hohum yields. I bought some MHR-C after divie under par, but it is not greatly attractive either - it's callable in December 2011, so if MHR does well, it will be called; if MHR does badly, it will drop from current price.
I sold GRVY in my taxable account so I don't need to deal with PFIC issues. Sold NOK on IMHO heightened risk of delays and underperformance after new CEO appointment and Anssi Vanjoki's departure. Sold COH as valuation became pretty high.
Added more to Chinese small caps that continue to be hated by everyone. NEWN is the most risky out of three with recent subsidiary purchases that may mask a lot of gunk in financial statements.
I started a small exploratory position in UFPT discussed recently on this thread.
Most prices for stocks are not very cheap, so I am in no rush to deploy money. |
