My top 10-ish positions in no particular order: NRF-A/B, UVIC, IDCC, UFPT, GILD, MHR-C/D, COPJF, DRAGF, MSFT. Changes in top-10: Out: NXY - sold part
New positions: ADI, SNDK, HPQ, AGXKF, CSR, RIMM
Positions increased: GLW, EGY, DRAGF, MHR-D
Positions reduced: NXY, PWRD, NRF-B, AEH, PBEGF
Positions eliminated: CSGH, NEWN, GFRE, CGPI, EBIX
Very busy time, so the update took longer to post. At least it's quite eventful.
Fixed income: reduced AEH and NRF-B positions that ran up. Bought some MHR-D on a drop to 48.X.
Chinese RTOs: practically eliminated from my portfolio. Way too late. Since I am a sucker for punishment, I bought a position in CSR which has official management buyout offer at $6.5. Obviously right now nobody believes that the buyout will occur.
Sold EBIX to watch the drama from the sidelines.
A lot of old tech stocks are still cheap. Some are very cheap (MSFT, INTC), some are somewhat cheap (SNDK, ADI, RIMM, HPQ). RIMM might be most controversial, but for me it's a play on NOK losing share and RIMM filling the void not captured by AAPL and Android. We'll see if this works out as foreseen.
E&Ps are getting very expensive. Subsequently I am selling, but still trying to maintain a large weight in oil. Sold some NXY on pretty bad GAAP results, sold some PBEGF which is not really attractive IMO. Added EGY and DRAGF.
Sold some PWRD on runup.
Finally I went buggy, embraced the dark (golden) side and established AGXKF position. Is this the top? ;) |
