Saturday, 18 January 2014

The week in review - stocks and positions

The week in review - stocks and positions
At the end of each week I will briefly list some investment positions that I am - or have been - active in over the last week.  Again, the rationale is to share process and thoughts.  You know the disclaimer to the right.  

The earnings season may have kicked off - with plenty of financial companies reporting in the last week - but new investment opportunities were relatively modest.  Patience - including the retention of existing positions - is underappreciated as an important investment trait, particularly as the next three weeks represent the peak of earnings season reporting. 

Long / added to / closed -

New Gold - added to the position in the Canadian gold company following news that country/sector peer Goldcorp made a hostile bid for another peer Osisko.  Link here

Short / sold -

American Express - I like the model but note the valuation (link here).  You should never really short a company on valuation concerns alone, so the addition catalyst is that Platinum card holders are unhappy with recent changes to their cards. 

Bank of America - much factored into these results including, potentially, far too much optimism about (mortgage-related) litigation.  Thoughts here

Unless otherwise mentioned, positions from previous weeks have been maintained.   Please see the other weekly trading summaries for details (under the label 'trades'). 

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