What did you sell, what might you sell? (2012)

Discuss your favourite picks, broker, and trading or investment style.
User avatar
Pickles
Veteran Contributor
Veteran Contributor
Posts: 4215
Joined: 27 Sep 2006 09:44
Location: Toronto

Re: What did you sell, what might you sell? (2012)

Post by Pickles »

Deaddog is right. With a 4%+ dividend, and earnings more than 2Xs the dividend offered, I could have afforded to wait for BNS to recover.

My BMO shares in my RRSP are underwater right now (the lack of a good fixed income alternative made me decide not to sell when they reached my target price of $60 a few months back) but they are earning me more than 5%, twice what I could get with a 5 year GIC.

Still, varying my strategy of juicing fixed income yield by quick "in and out" trades is not a good idea (I hear Peculiar_Investor saying "If that's your investment plan, stick to it!"), hence the quick sale of BNS.
Regards,
Pickles
User avatar
Pickles
Veteran Contributor
Veteran Contributor
Posts: 4215
Joined: 27 Sep 2006 09:44
Location: Toronto

Re: What did you sell, what might you sell? (2012)

Post by Pickles »

Earlier this week I bought some BNS and BMO in my RRSP account. Yesterday, I sold the BMO at a 2.25% gain (the interest rate on a 2 year GIC :roll: ). Had I waited until today, I would have done better, but my usual caution saw me bail out when I was ahead. Today I sold the BNS for a 4%+ gain. I have two more days to look for similar possibilities before settlement when I will otherwise put it into a cashable GIC.

I
Regards,
Pickles
BRIAN5000
Veteran Contributor
Veteran Contributor
Posts: 9063
Joined: 08 Jun 2007 23:27

Re: What did you sell, what might you sell? (2012)

Post by BRIAN5000 »

So much for Buy & Hold, sold WMT at $67.90 hope to buy back soon at $52 or below.
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
User avatar
Pickles
Veteran Contributor
Veteran Contributor
Posts: 4215
Joined: 27 Sep 2006 09:44
Location: Toronto

Re: What did you sell, what might you sell? (2012)

Post by Pickles »

Today, I sold a small stake in BCE for $42.10 I've held for three months in my RRSP. With one quarter's dividend, my return is over 6%. Quite possibly I could get more on Monday or Tuesday (Wednesday is the next ex-dividend date) but I don't want to be greedy. Ratcheting up the returns a notch at a time by dipping into equities is rather dreary when the weather is good. I'd rather be weeding :roll: .
Regards,
Pickles
User avatar
Pickles
Veteran Contributor
Veteran Contributor
Posts: 4215
Joined: 27 Sep 2006 09:44
Location: Toronto

Re: What did you sell, what might you sell? (2012)

Post by Pickles »

This week I sold 1/3 of my CNR at $86 to lock in an 82% gain and my voting Telus shares at $61 for a more modest gain of almost 6% (plus one dividend). I still have my non-voting shares and may buy more Telus if the price falls again.
Regards,
Pickles
User avatar
Shakespeare
Veteran Contributor
Veteran Contributor
Posts: 23396
Joined: 15 Feb 2005 23:25
Location: Calgary, AB

Re: What did you sell, what might you sell? (2012)

Post by Shakespeare »

Sold all of my PH&N STB&M preparatory to setting up a GIC ladder next week.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
BRIAN5000
Veteran Contributor
Veteran Contributor
Posts: 9063
Joined: 08 Jun 2007 23:27

Re: What did you sell, what might you sell? (2012)

Post by BRIAN5000 »

Sold small positions in ABT and XTR and little BCE Next up, some more Telus.
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
User avatar
westinvest
Contributor
Contributor
Posts: 898
Joined: 22 Feb 2005 01:17
Location: Okanagan

Re: What did you sell, what might you sell? (2012)

Post by westinvest »

Used last week's bounce to reduce a couple of my long term holdings - sold about 30% of my PPL, REI and XDV; about 50% of PHN Div Fund, and all of my EEM.

Will move the cash to GIC's. Equity percentage of portfolio is now down to 28% from a bit over 30%, not counting preferreds.
bindexit
Contributor
Contributor
Posts: 661
Joined: 24 Feb 2007 13:43

Re: What did you sell, what might you sell? (2012)

Post by bindexit »

I will be selling this one soon:

WGI Heavy Minerals (WG-T) for $0.60 or more hopefully

Re: http://www.theglobeandmail.com/globe-in ... slug=C8273

My TFSA is filled with these high risk small cap companies (less than $1/share) that popped up on my 'value" stock screens. I stopped averaging down on this one at $0.35 , rats! Another factor for this purchase, a copy cat pick from ....
http://www.newswire.ca/en/story/835239/ ... corporated

This is the second takeover in TFSA this year. When it happens, investing is fun....However, I have some real lemons too like Compliance Energy (CEC on Venture). It dropped big time this week...Why ??? If I find any negative governance issues, I'll sell asap.
User avatar
Springbok
Veteran Contributor
Veteran Contributor
Posts: 5438
Joined: 22 Mar 2005 16:47

Re: What did you sell, what might you sell? (2012)

Post by Springbok »

I will soon lose my Viterra shares. Probably buy another agri co - maybe Agrium who will be getting some of Viterra's assets.

At least getting a premium price for Viterra. Can't see selling equities when markets are in doldrums to buy GICs that don't yield enough to cover the inflation rate and even then need to be locked in for 5 years.
User avatar
freedom_2008
Contributor
Contributor
Posts: 841
Joined: 16 Nov 2010 17:46
Location: Victoria

Re: What did you sell, what might you sell? (2012)

Post by freedom_2008 »

Sold TRP.TO at today's peak. It is a good company, but our gain is more than 6 years worth of dividend, might buy back later.
“Life is 10% what happens to you and 90% how you react.” — Charles R. Swindoll
User avatar
scomac
Veteran Contributor
Veteran Contributor
Posts: 7788
Joined: 19 Feb 2005 09:47
Location: The Gateway to Wine Country

Re: What did you sell, what might you sell? (2012)

Post by scomac »

My tender to the Maple Group offer for TMX Group shares was exercised at 92% at the $50 offer. I sold the balance of the shares this morning at $46.16 resulting in a blended price of $49.67 after commission. I had thought about buying a reduced position back, but with the higher than expected tender, I opted to move on to something new. I shall miss the cycle 2 income, but this is probably an excellent opportunity to diversify out of my overweight in financials.
"On what principle is it, that when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?"
Thomas Babington Macaulay in 1830
Lazy Ninja
Contributor
Contributor
Posts: 648
Joined: 03 Mar 2008 19:10

Re: What did you sell, what might you sell? (2012)

Post by Lazy Ninja »

Sold out of TEVA this morning at $40.40 for a $CAD adjusted loss of about 25.6% Rationale given here (at the bottom of the page). Changed my mind about how to deploy the proceeds though. I figured I'd best leave the money in international equities for asset allocation reasons, so I put it into VWO at $40.60.
JaydoubleU
Veteran Contributor
Veteran Contributor
Posts: 3103
Joined: 13 Sep 2007 22:52

Re: What did you sell, what might you sell? (2012)

Post by JaydoubleU »

I sold PM-N last week at 93.10

I am well aware of the upcoming dividend announcement and the growth story there. But last quarter's report was actually not all that good, and I was looking at a near-100% 3-year gain on a stock that is presently.....overloved.

I have no moral qualms about investing in tobacco, but in debates with Mom and the wife, I had to admit that I'd prefer investing in companies whose products I liked, used or needed; can't say that about tobacco.

Anyway, it's a very, very fickle market and I find it prudent to take profits out on occasion and wait for opportunities to buy undervalued, underloved stocks.
jsbarnby
Contributor
Contributor
Posts: 118
Joined: 04 Jun 2009 22:38

Re: What did you sell, what might you sell? (2012)

Post by jsbarnby »

Wow. A couple of interesting sell there gentlemen. Lazy Ninja, your analysis has discouraged me for the time being from putting money to work with Teva but it is still high on the watch list. JaydoubleU, I understand the rationale for selling PM. I have done very well with PM first buying a large position at $45 and then buying a little more on it's recent dip @ $65. I intend to continue buying on 10-15% pullbacks and hold it for the rest of my life. I think it has to be one of the best risk/reward scenarios in the entire market. Increasing smoking in developing countries, diversified over hundreds of countries so there is less political risk, has 7 of the top 15 brands in the world etc etc etc. I am sure you have read all about the advantages. PM is a cashflow machine.

I think the most recent quarter was ugly because of the currency situation. The USD gained strength which is bad for PM which reports in USD. Hopefully it pulls back a little and you are able to get back in if you want.
Lazy Ninja
Contributor
Contributor
Posts: 648
Joined: 03 Mar 2008 19:10

Re: What did you sell, what might you sell? (2012)

Post by Lazy Ninja »

Just to be clear, I wasn't necessarily trying to dissuade you from buying TEVA, I just wanted to make sure you were clear on exactly what you would be buying. The company is commonly referred to as the world's largest generic drug company but, as near as I can tell, they're earnings seem to be made up of about:

-50% one super drug, which is coming off patent in a couple of years
-25% better diversified mix of branded drugs
-25% generic drugs

Basically, I really like a quarter of the earnings stream, could live with another quarter of it, and hate half of it. I'm keeping it on my watchlist, but will stay away as long as Copaxone continues to pose such a risk. YMMV.
User avatar
scomac
Veteran Contributor
Veteran Contributor
Posts: 7788
Joined: 19 Feb 2005 09:47
Location: The Gateway to Wine Country

Re: What did you sell, what might you sell? (2012)

Post by scomac »

on May 4, 2012 scomac wrote:The market seems to be in the mood to give away a great Canadian growth company, so I decided to take them up on the offer buying back the shares that I had sold quite a while ago. A recently announced dividend increase, selling at 8 times earnings and less than twice book, what's not to like? Mark me down for another 100 HCG @$44.09
Thank you very much -- 100 shares HCG sold @$54.25! :thumbsup:
"On what principle is it, that when we see nothing but improvement behind us, we are to expect nothing but deterioration before us?"
Thomas Babington Macaulay in 1830
JaydoubleU
Veteran Contributor
Veteran Contributor
Posts: 3103
Joined: 13 Sep 2007 22:52

Re: What did you sell, what might you sell? (2012)

Post by JaydoubleU »

Sold 300 shares of DH--Davis and Henderson. Sweet dividend, and a recent raise, however it was hovering around a 52-week high and becoming heavily weighted in my portfolio. Needed to cash in some chips and reign it in.
Michael D
Contributor
Contributor
Posts: 733
Joined: 05 Nov 2008 16:23
Location: Ottawa

Re: What did you sell, what might you sell? (2012)

Post by Michael D »

Sold Nokia NOK. That was quick enough for 20% on the Lumia backorder issues. Long term? Who knows.
Michael D
Contributor
Contributor
Posts: 733
Joined: 05 Nov 2008 16:23
Location: Ottawa

Re: What did you sell, what might you sell? (2012)

Post by Michael D »

Sold a small half of my holdings in Johnson Controls, JCI, up 20% on a half-year. Funded purchase of CTXS.
User avatar
Springbok
Veteran Contributor
Veteran Contributor
Posts: 5438
Joined: 22 Mar 2005 16:47

Re: What did you sell, what might you sell? (2012)

Post by Springbok »

I think I should sell the Premium Income Fund Capital shares I own (PIC.A). When they rearanged the fund a while back, the guaranteed to pay put a certain amount until the combined NAV of the split was $25.00. Well the payout is too high and the capital shares have been steadily declining. They tried recently to sell more units, but I doubt it was successful because the price asked was too high in comparison with market price. This year, I have received about $3000 in distributions while watching the shares drop by a similar (or greater) amount.

Unless someone has better insight, I think it is time for me to sell. (I will keep the preferreds until redemption)
User avatar
Arby
Veteran Contributor
Veteran Contributor
Posts: 3125
Joined: 20 Feb 2005 19:23
Location: Ottawa, ON

Re: What did you sell, what might you sell? (2012)

Post by Arby »

Springbok wrote:I think I should sell the Premium Income Fund Capital shares I own (PIC.A). When they rearanged the fund a while back, the guaranteed to pay put a certain amount until the combined NAV of the split was $25.00. Well the payout is too high and the capital shares have been steadily declining. They tried recently to sell more units, but I doubt it was successful because the price asked was too high in comparison with market price. This year, I have received about $3000 in distributions while watching the shares drop by a similar (or greater) amount.

Unless someone has better insight, I think it is time for me to sell. (I will keep the preferreds until redemption)
There is no guarantee to pay out any amount on PIC shares. The amount of the distribution is an objective, not a guarantee. Management can change the amount of the payout at their discretion.

If PIC.A is supporting the distribution by selling off part of the underlying portfolio (and thus cannibalizing the NAV), then it's not a good situation. Probably a good idea to sell the capital shares before they have to cut the distribution. You should also take a look at whether the fund is currently generating enough income to cover the distribution on the prefereds, and if not, then also consider selling your prefereds.
User avatar
Springbok
Veteran Contributor
Veteran Contributor
Posts: 5438
Joined: 22 Mar 2005 16:47

Re: What did you sell, what might you sell? (2012)

Post by Springbok »

Arby wrote:
There is no guarantee to pay out any amount on PIC shares. The amount of the distribution is an objective, not a guarantee. Management can change the amount of the payout at their discretion.
You are of course right - I used guaranteed loosely! This is what they said on re-organization:
Currently, the Fund is paying quarterly distributions at a rate of $0.60 per year. The Fund intends to continue to pay distributions at this rate until the net asset value ("NAV") per Unit (a "Unit" being considered to consist of one Class A Share and one Preferred Share) reaches $22.50. At such time, quarterly distributions paid by the Fund will vary and will be calculated as approximately 8.0% per annum of the NAV of a Class A Share.
If PIC.A is supporting the distribution by selling off part of the underlying portfolio (and thus cannibalizing the NAV), then it's not a good situation. Probably a good idea to sell the capital shares before they have to cut the distribution. You should also take a look at whether the fund is currently generating enough income to cover the distribution on the prefereds, and if not, then also consider selling your prefereds.
The preferreds have dropped a bit lately, but still trading at above par. The market seems to think they are reasonably safe. I don't think Mr Hymas likes them though!

It is hard to see how they can continue without either cutting the payout on capital shares or letting the share price continue to drop. I have my sell order in, but didn't sell today.
Michael D
Contributor
Contributor
Posts: 733
Joined: 05 Nov 2008 16:23
Location: Ottawa

Re: What did you sell, what might you sell? (2012)

Post by Michael D »

I sold INTC, still at a profit as I had been holding it since 2008 and collecting the div. It isn't going anywhere (or up) with any conviction soon, so I got out.

I sold RIMM at a fair enough gain (50%). It might go up more, it might go down alot. 50% is locked in, so I'll take it.
User avatar
Springbok
Veteran Contributor
Veteran Contributor
Posts: 5438
Joined: 22 Mar 2005 16:47

Re: What did you sell, what might you sell? (2012)

Post by Springbok »

I have a sell order in on CLC (CML Healthcare) in my TFSA for some time. It sold today, so I bout about $5k of TD Monthly Income Fund. Probably put my $5500 into that in January too. At least until I have a better idea. Can't quite bring myself to sell my other TFSA holdings at this time KMP, ACC, IPL.UN, VET.
Post Reply