My top 10-ish positions in no particular order: GLW, MSFT, MGDDY, MHR-D, DRAGF. Out: UVIC - reduced position
New positions: HY
Positions increased: RGA, CF, STO, STX
Positions reduced: SHOS, MAUXF, WU, UVIC
Positions eliminated: HI, ETN, JMBA
Flip-flop:
With market hitting new highs, portfolio activity is not very exciting. Sales are disappointing, since better prices can be received by not selling and waiting couple days (or hours - see JMBA today). Buys are disappointing too, since prices are high and you think you should have bought more in the past. To reverse Buffett's metaphor, I feel like an old geezer with no Viagra. ;)
Very few stocks seem attractive to me now. I have added RGA, CF, STO, STX. Out of these, RGA might be the only one very cheap and a good buy. But with my large (re)insurance exposure I probably should not be adding more in the sector. STO might be also somewhat cheap and attractive. CF and STX are cheap based on past earnings, but clearly market expects much worse results in the future.
I bought starter position in HY. It is not cheap though.
Sales: HI and ETN were expensive, though possibly forever holds. JMBA - I did not like the results and got out with a gain. Reduced positions in WU and UVIC on reduced conviction about their future. Sold some MAUXF to balance the position size. Decided to keep SHOS at starter position level right now based on valuation analysis. |
