What did you sell? What might you sell? (2015)
- Shakespeare
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Re: What did you sell? What might you sell? (2015)
Sold the 300 COS I bought Friday at 6.05 today at 9.755. Tankyouberrymuch.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones
Re: What did you sell? What might you sell? (2015)
I sold 25% of my ENF (the same number of shares I bought at the end of November) for $44.15 yesterday: a 45% return on those shares and a 66% profit on my overall ACB. The sudden increase in share price pushed ENF into 3rd highest stock holding and I'm not sure I wanted so many eggs in one basket. Yesterday's sudden rise didn't seem to have a concrete cause, so I decided to take some profit while I could. The fact that COS was selling for double what it sold for last week -- after cutting its dividend to a quarter of what their announced intention was before Christmas -- indicated to me that much of yesterday's index gain was froth and not the beginning of recovery. I will use the profits to buy some artwork I want.
Regards,
Pickles
Pickles
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Re: What did you sell? What might you sell? (2015)
I decided to part company with Baytex Energy (BTE) and take the buzzcut. I managed to sell it at the open, so closer to $24 than to $22.82 where it closed.
BTE has rallied 21% in 5 days, presenting this opportunity to make the decision. At $50 oil, BTE will struggle to cover costs and meet debt covenants, and I see another possible dividend cut and/or asset sales down the road. Of course, oil may pop again, but there we enter the realm of pure speculation, and that isn't my style. I think
I'll be looking to deploy the funds into profitable, long-term investments that I don't have to watch every day.
BTE has rallied 21% in 5 days, presenting this opportunity to make the decision. At $50 oil, BTE will struggle to cover costs and meet debt covenants, and I see another possible dividend cut and/or asset sales down the road. Of course, oil may pop again, but there we enter the realm of pure speculation, and that isn't my style. I think
I'll be looking to deploy the funds into profitable, long-term investments that I don't have to watch every day.
Re: What did you sell? What might you sell? (2015)
Sold half of my BCE this week near its new high as it had grown to be too large a part of my holdings. I haven't decided yet how to redeploy.
Re: What did you sell? What might you sell? (2015)
Sold almost half of my ENF at 42.48 for a nice 85% gain - it was starting to be too large a single holding for comfort. Thanks for the heads-up on this one folks!
Also sold my recently acquired HSE at 28.53 for a 15% gain.
I finally sold the remainder of my COS at 10.39 yesterday at a good loss The good news is that I need the cap loss to offset some of my gains this year. It's bouncing around like a yoyo, but I'm not really interested in monitoring it at this stage.....maybe later in the year.
Also sold my recently acquired HSE at 28.53 for a 15% gain.
I finally sold the remainder of my COS at 10.39 yesterday at a good loss The good news is that I need the cap loss to offset some of my gains this year. It's bouncing around like a yoyo, but I'm not really interested in monitoring it at this stage.....maybe later in the year.
Re: What did you sell? What might you sell? (2015)
Thinking of adjusting my Sector allocation a bit. I need to lower my equity percentage so what to sell is a question anyway. Not liking volatility to much I'm thinking sell gold. Stuff like ABX, G, FCX, maybe XMA. I had a 5% allocation to gold and thinking I may just make it 0%. Also stop buying crap like Teck Corp and stick closer to lower beta names in the oil sector that would mean getting rid of BTE. All this I would do over a period of time even waiting for more of a recovery in Oil. No hurry on some of these cause they are still churning out a few dividends but that could change in a hurry. Some I have a capital gain some a capital loss. Resulting cash would find its way to GIC's or a chance of CPD or an ETF Reit of some kind depending how things look at the time.
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
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Re: What did you sell? What might you sell? (2015)
I sold my Bombardier (BBD.B) in my non-registered account, on today's news of dividend suspension and cost increases. Loss locked in, but I'm less optimistic about a turnaround than I was 6 months ago when I bought. Consider it an early tax loss harvest.
I also exited my Baytex (BTE) position in my RRSP at $23.50, and crystallized a ~45% loss (not including divs). Back in December when I elected to hang on, there seemed to be some hope that oil had bottomed and would quickly recover in the first half of 2015. This scenario appears less likely today, and there is probably more pain to come for BTE as 2015 unfolds - I would not be surprised to see it touch the mid-teens again. Not sure if I'll buy again - my only remaining oil holding is RDS, and I'm good with that for now. Sucks to take the loss in my RRSP.
I also exited my Baytex (BTE) position in my RRSP at $23.50, and crystallized a ~45% loss (not including divs). Back in December when I elected to hang on, there seemed to be some hope that oil had bottomed and would quickly recover in the first half of 2015. This scenario appears less likely today, and there is probably more pain to come for BTE as 2015 unfolds - I would not be surprised to see it touch the mid-teens again. Not sure if I'll buy again - my only remaining oil holding is RDS, and I'm good with that for now. Sucks to take the loss in my RRSP.
Re: What did you sell? What might you sell? (2015)
We all share your pain. (literally, now we lose tax revenue)westcoastfella wrote:Sucks to take the loss in my RRSP.
newguy
Re: What did you sell? What might you sell? (2015)
Sold our remaining individual stocks last week (all good names: WMT, PG, PEP, FTS). Portfolio is now entirely composed of plain-vanilla ETFs and e-funds. For the first time ever, my portfolio tracking spreadsheet can be printed on a single page (all 6 accounts combined)!
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Re: What did you sell? What might you sell? (2015)
I am thinking of selling Wajax. It is still paying a good dividend, but has dropped considerably since I acquired it last year. I expected my oil stocks to drop, but not this one.
- Peculiar_Investor
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Re: What did you sell? What might you sell? (2015)
Have you given consideration to their customer base? If the customer is hurting, then the supplier generally feels an impact too.tedster wrote:I am thinking of selling Wajax. It is still paying a good dividend, but has dropped considerably since I acquired it last year. I expected my oil stocks to drop, but not this one.
What was your investment thesis/analysis that brought you to purchase this company's stock? Is the thesis still intact? Do you have better ideas/uses for the money?
If you are selling just because the stock price dropped, consider Will Roger's advice "Buy stocks that go up; if they don't go up, don't buy them".
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Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Re: What did you sell? What might you sell? (2015)
P_I wrote
I bought it because I first heard of it here. Then I decided that they rent construction machinery and infrastructure in Canada sucks. Plus the Gov't is supposed to give all kinds of money for infrastructure repairs. None of the latter seems to have made a difference.
tedster wrote:
I am thinking of selling Wajax. It is still paying a good dividend, but has dropped considerably since I acquired it last year. I expected my oil stocks to drop, but not this one.
Have you given consideration to their customer base? If the customer is hurting, then the supplier generally feels an impact too.
What was your investment thesis/analysis that brought you to purchase this company's stock? Is the thesis still intact? Do you have better ideas/uses for the money?
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Re: What did you sell? What might you sell? (2015)
I hold WJX, and currently am down about 15% from cost. They rent and repair all kinds of machinery, and a large chunk of their customer base is in O&G and mining. Given the direction that those two sectors have gone, it should not be surprising to see WJX drop a bit with it.tedster wrote: I bought it because I first heard of it here. Then I decided that they rent construction machinery and infrastructure in Canada sucks. Plus the Gov't is supposed to give all kinds of money for infrastructure repairs. None of the latter seems to have made a difference.
The question for me is, what will they do from here and how will they adjust to the new reality? I don't know yet, and am eagerly anticipating their next quarterly report for some direction. There have been no indications that their dividend is in danger (yet), and they have been working pretty hard over the last year to drop costs and raise earnings to support their payout, so as long as that stays intact I'm prepared to wait for some direction.
I'm not suggesting this is the best decision for you, just my 5c on the subject.
Re: What did you sell? What might you sell? (2015)
Just closed my position in SNC-Lavalin (SNC). This may, for all I know and as a G&M headline has it, be a buying opportunity. That's what I thought 3 years ago when I bought on the price plunge that followed the initial corruption allegations. Now that charges have been laid, what I foresee is the corruption story grinding on for years to come. If there's money to be made here, it will be others making it, not me.
- Peculiar_Investor
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Re: What did you sell? What might you sell? (2015)
Closed position in American Eagle Outfitters (AEO) at $16.98. Although the recent earnings/financials were an improvement, valuation seems stretched and while my original thesis is still somewhat intact, my previous view that "AEO will grow nicely over the next 5 years" hasn't been fulfilled, proving once again that a) forecasts are the weak point in analysis and b) the teenage retail market space is fickle and competition is brutal. Lesson learning. Due to changes in the USD-CAD relationship, still have a capital gain on this one.
Proceeds being deployed into existing VTI holding. My glacial conversion to an indexer continues
Proceeds being deployed into existing VTI holding. My glacial conversion to an indexer continues
finiki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Re: What did you sell? What might you sell? (2015)
Trimmed some:
Transportadora de Gas del Sur SA (TGS-N, an ADR) $5 and change
Re: Has shot up recently and taking some off the table. I think rise relates to this:
http://www.bloomberg.com/news/articles/ ... since-2011
Thanks to Taggart for discussion on this forum and raising this ADR to my attention. I average down as low as $1.45 (I think) when Canadian was much higher.....
By the way, I have not received the 2014 distribution announced from TGS??? These ADR distribution usually take a while and don't think any Canadian bank broker can do anything to speed up payment process.
Transportadora de Gas del Sur SA (TGS-N, an ADR) $5 and change
Re: Has shot up recently and taking some off the table. I think rise relates to this:
http://www.bloomberg.com/news/articles/ ... since-2011
Thanks to Taggart for discussion on this forum and raising this ADR to my attention. I average down as low as $1.45 (I think) when Canadian was much higher.....
By the way, I have not received the 2014 distribution announced from TGS??? These ADR distribution usually take a while and don't think any Canadian bank broker can do anything to speed up payment process.
Re: What did you sell? What might you sell? (2015)
Sold off a portion of Valeant and Concordia Healthcare. With the latter it a matter of trimming my holdings. Its had a great run. With Vaeant it looks like they might lose another acquistion battle. Their success has been growth through acquistion.
Re: What did you sell? What might you sell? (2015)
zinfit wrote
They made money off their last failure.. With Vaeant it looks like they might lose another acquistion battle. Their success has been growth through acquistion.
Re: What did you sell? What might you sell? (2015)
You are quite correct. This might work for the short term. When you examine their recent history they have been very astute in buying drug companies in which they have gained much increased earnings and growth. There very high ROE shows their success. If they cannot make acquistions they will slow and lose much of their mojo.tedster wrote:zinfit wroteThey made money off their last failure.. With Vaeant it looks like they might lose another acquistion battle. Their success has been growth through acquistion.
Re: What did you sell? What might you sell? (2015)
I do not own Valeant except in my RRIF. I do own a "clone" called Biosyent who have also done well and are less costly.
- scomac
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Re: What did you sell? What might you sell? (2015)
Sold 50 shares of Walgreen Boots Alliance (WBA-Q) this morning @$85.80 off the open. It was my largest individual stock holding. The proceeds will cover the cost of our recently completed 3 week stay in FLA.
"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
Thomas Babington Macaulay in 1830
Re: What did you sell? What might you sell? (2015)
HI,
I sold my minor holding of WJX on March 10. In theory, it sounds like a great idea for a company and they've been around forever. However it has struggled mightily since the heady year of 2012. I don't see things getting better for them any time soon. A second dividend cut was the end for me.
I sold my minor holding of WJX on March 10. In theory, it sounds like a great idea for a company and they've been around forever. However it has struggled mightily since the heady year of 2012. I don't see things getting better for them any time soon. A second dividend cut was the end for me.
Cheers
"A dividend being paid today is always a positive return." Josh Peters, Morningstar
"A dividend being paid today is always a positive return." Josh Peters, Morningstar
Re: What did you sell? What might you sell? (2015)
I ditched XEG last week for roughly what I paid a month ago. Not liking the trending.
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Re: What did you sell? What might you sell? (2015)
In a registered account, sold our position in CDK Global (CDK) this afternoon @ $48.51. Company is a spin-off from Automatic Data Processing (ADP). Generally like the companies prospects, but valuations are very stretched, stock just hit new 52 week high, and position was only about 0.5% weight. Running the fundamentals and giving the concerns with valuation, I couldn't find any justification to add to the position to bring it to target weight, so took Mr. Market's offer and will deploy USD cash elsewhere.
IIRC this is second ADP spin-off that has provided healthy gains, Broadridge Financial was the other. Been a shareholder in ADP since 1996! and have done very well with it, thank you very much. Boring but dependable business that keeps rewarding shareholders.
IIRC this is second ADP spin-off that has provided healthy gains, Broadridge Financial was the other. Been a shareholder in ADP since 1996! and have done very well with it, thank you very much. Boring but dependable business that keeps rewarding shareholders.
finiki, the Canadian financial wiki New editors wanted and welcomed, please help collaborate and improve the wiki.
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
Normal people… believe that if it ain’t broke, don’t fix it. Engineers believe that if it ain’t broke, it doesn’t have enough features yet. – Scott Adams
- Shakespeare
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Re: What did you sell? What might you sell? (2015)
Sold my small holding in ZRE to free up funds for later this year.
Sic transit gloria mundi. Tuesday is usually worse. - Robert A. Heinlein, Starman Jones