My top 10-ish positions in no particular order: UVIC, MHR-C/D, GST-A, GLW, EGY, GILD, ARY, DRAGF, MSFT. Changes in top-10: None
New positions:
Positions increased: ADVC
Positions reduced: BRKB, TDF, ENTR
Positions eliminated: BBD, UL, IIF, TX, AMX
Flip-flop: HRBN
I guess the selling in my portfolio looks good after today's drop. I can say with 20/20 aftersight that I should have sold more. ;) Percentage wise I did not sell much, so my cash is still in 20-25% area.
The only fully-valued position sold was UL. I also sold two ETFs: IIF and TDF, since I am not good in valuing them. The rest were OK but low conviction positions: BRKB, ENTR, BBD, TX, AMX.
Chinese going-private arbitrage is almost the best way to make money this year. HRBN was the last one to yield reasonable "dividend". Unfortunately, arbitrage margins are narrowing as investors decide that there is no risk of these transactions failing. As usual, the situation is the most risky when the crowd is feeling sanguine. |
