Saturday, 1 February 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.  

Another week of volatility, but therefore opportunity too.  Much of the trading was inspired by the quarterly results season which is now in full flow.  This is how it always should be: events and prices.  Such is the inspiration of an active investor!

Long / added to / closed shorts -

AIA - introduced position in the Hong Kong listed insurer as its share price fell below HK36, a level I had been waiting for (link here)

Altria - following the company's corporate results (link here), the share fell to attractive levels to supplement my holding

BG Group - the negative comments by company on their operations in Egypt, along with cost overruns elsewhere, provided an opportunity to add to the holding (link here)

Boeing - covered part of the short position following a sharp fall post the publication of the latest quarterly results

Canon - covered the entire position as share price fell to the level I targeted at the original initiation of the position (link here)

Diageo - covered part of the short position following a sharp fall post the publication of the latest quarterly results (link here)

Pearson - continuing to build position following appraisal of the worth of the business (link here)

SABMiller - continuing to build position following appraisal of the worth of the business (link here)

Serco - this week's trading update led to an opportunity to add to the position (link here)

Vodafone - following AT&T's confirmation that it was not going to bid for the company for the time being, the sharp share price fall led to an opportunity to buy a trading position

 
Short / sold -

Caterpillar - reviewing the latest quarterly report from the company led to an opportunity to add to the short position (link here)

FTSE100 - augmented this index short position to help keep overall net exposures under control

Tyson Foods - took some profits in the agricultural name following an excellent quarterly update (link here)

Vodafone - sold the trading long initiated above at a solid profit

 
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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