My top 10-ish positions in no particular order: NRF-A/B, UVIC, MHR-C, IDCC, EBIX, GFRE, GILD, COPJF, PBEGF, DRAGF. Changes in top-10: GPOR out due to sales.
New positions: XCO, CHL
Positions increased: CYOU, CELM, AXS,
Positions reduced: GPOR, GXDX, FR-J, UEPS, CLLZF, GEOI
Positions eliminated: RIG, ASRG, NOK
There were couple themes in these couple weeks:
One and a half buyouts: ASRG got bought at a huge premium, I sold the shares after unsuccessfully trying to sell them about 66% lower - better being lucky than smart. GXDX announced plans to sell itself and I sold half position. I entered XCO like couple people on this thread on expectation of raised buyout price. Short term parking of cash.
Tax loss selling: Closed NOK position, sold some UEPS and CLLZF.
E&P runup continues: sold even more GPOR and GEOI. Although I am Peak Oiler at heart, I'm afraid that lots of E&Ps are getting to bubbly valuations. I may reinvest some money in the unloved supermajors.
For individual buys/sells:
CHL - not very cheap, but I decided to start exploratory position after relooking at it.
CYOU, CELM, AXS - valuation based adds.
FR-J - the yield is not so attractive anymore while the risk remains. Cut position to pretty small.
RIG - there is still lawsuit/damages risk and IMO valuation discount no longer accounts for it. Sold.
I achieved an important net worth milestone this year, which may be a cause for celebration or concern about the market levels. ;) With couple days left to the year, my preliminary annual returns are lower than Dale's but higher than indexes. :)
Happy Holidays to all! Thanks for all the contributions on SI and best investment returns in 2011! :) |
