What did you sell? What might you sell? (2017)

Discuss your favourite picks, broker, and trading or investment style.
Thegipper
Veteran Contributor
Veteran Contributor
Posts: 3477
Joined: 14 Mar 2015 16:58

Re: What did you sell? What might you sell? (2017)

Post by Thegipper »

Sold my positions in Hot.UN and Pure Multi Residential . I just lost my patience. Couldn't see any explanation for the slow downward pressure. Sometimes the market and investors can be a challenge.
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? (2017)

Post by scomac »

JaydoubleU wrote: 07 Nov 2017 18:11
...will this pig ever fly? Or I could sell some winners....
I think I'd be way ahead today if I'd dumped the pigs more quickly and let the winners run. Doubling down on losers or taking profits on winners usually didn't pay off.
You're absolutely right! I've always lived to regret the double down. Get out and stand aside. Once the dust has settled you can then decide if you want to get back into the situation. I've done alright coming back to something after the fact, but being bold and diving further into the abyss has never been smart!

Letting winners run is an interesting concept. If I had never taken any profits on Couche-tard if would now be 12.5% of my portfolio, the entire thing, so I'm not sure that would have ever been wise. That said, whatever the money was reinvested in wasn't nearly as good, so maybe you should just stick with it forever if you don't need the proceeds for spending. I just trimmed a bit recently for a charitable donation so I don't feel so bad about that.

I'm going to ruminate on this some more. I don't sell nearly as frequently as I once did. Still, maybe I shouldn't be selling even that much and volunteering tax dollars to Ottawa. At least I feel as though I have partially cured myself of the idea that trading helps performance. Unless something comes along that's a real bargoon I probably should be just going and lying down on the couch instead!
"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
schmuck
Veteran Contributor
Veteran Contributor
Posts: 1706
Joined: 21 Sep 2006 20:06
Location: Vancouver area

Re: What did you sell? What might you sell? (2017)

Post by schmuck »

Sold my CPG near today's high, somewhat reluctantly as oil seems to be showing signs of coming out of it's long sleep. Sold it for a tax loss, but not a huge one as I bought it as an income trust way back in 2005 around $17. Got out of my other energy stocks less painfully some time ago, but this one I rode up to the high 40s and all the way down again :(
JaydoubleU
Veteran Contributor
Veteran Contributor
Posts: 3103
Joined: 13 Sep 2007 22:52

Re: What did you sell? What might you sell? (2017)

Post by JaydoubleU »

Letting winners run is an interesting concept. If I had never taken any profits on Couche-tard if would now be 12.5% of my portfolio, the entire thing, so I'm not sure that would have ever been wise. That said, whatever the money was reinvested in wasn't nearly as good, so maybe you should just stick with it forever if you don't need the proceeds for spending. I just trimmed a bit recently for a charitable donation so I don't feel so bad about that.
By winners, I had in mind the banks, CNR, telecoms, and other large-cap blue chips. I have occasionally taken profits on some of these but always found to my chagrin that a year or two later, the price was even higher than when I sold. What's worse is that I would sometimes take the profits and shovel them back into value traps, thinking to "buy low sell high." It seldom worked.

I always remind myself that my grandmother, who worked for Coca Cola in the 1950s, bought their stock and held most shares for life, leaving a nice legacy. My father has owned BMO for over 40 years: it's almost comical to note what he paid for his shares back in the 60s or 70s. They just bought and held and over time, the investments grew. Why sell? Needing or wanting the money is, of course, another matter: by all means, take some profits and enjoy life!
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? (2017)

Post by scomac »

JaydoubleU wrote: 10 Nov 2017 07:06
Letting winners run is an interesting concept. If I had never taken any profits on Couche-tard if would now be 12.5% of my portfolio, the entire thing, so I'm not sure that would have ever been wise. That said, whatever the money was reinvested in wasn't nearly as good, so maybe you should just stick with it forever if you don't need the proceeds for spending. I just trimmed a bit recently for a charitable donation so I don't feel so bad about that.
By winners, I had in mind the banks, CNR, telecoms, and other large-cap blue chips. I have occasionally taken profits on some of these but always found to my chagrin that a year or two later, the price was even higher than when I sold. What's worse is that I would sometimes take the profits and shovel them back into value traps, thinking to "buy low sell high." It seldom worked.

I always remind myself that my grandmother, who worked for Coca Cola in the 1950s, bought their stock and held most shares for life, leaving a nice legacy. My father has owned BMO for over 40 years: it's almost comical to note what he paid for his shares back in the 60s or 70s. They just bought and held and over time, the investments grew. Why sell? Needing or wanting the money is, of course, another matter: by all means, take some profits and enjoy life!
Your grandmother sounds a lot like my aunt. She was a spinster who worked in the garment industry for many, many years. She was a progressive thinker though and began to acquire shares in Bell Canada as early as 1946. I remember my cousin, who was the executor of her estate, remarked what a nightmare it was to calculate the adjusted cost base of her shares factoring in splits and reinvested dividends from a DriP program that she was enrolled in. It took him months to get that sorted!

It was interesting to me that in her will her shares were to be divided amongst her niece and nephews, so I was the fortunate beneficiary of that. It wasn't a huge amount but to honour her I decided that the best thing to do was to reinvest the proceeds in shares of BCE for myself which I still hold today. They've probably spun off as much in dividends by this point as what the capital value was at the time I acquired them!
"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
hboy43
Contributor
Contributor
Posts: 246
Joined: 28 Nov 2007 17:20

Re: What did you sell? What might you sell? (2017)

Post by hboy43 »

Hi:

I make a good living buying more of my losers and selling some of the winners. Of course it does not always work out and can take some time.

It was about 7 years between my first buy of OSB at ~$100 and year end 2012 when SP was ~20 and I was solidly in the black due to all the shares acquired between $5 and $12 during the dark days. I recently sold some at $38 and $42, and sure enough, the SP is higher today. But I also sold 3/4 of my GE around $US30 ($0.72 exchange rate era) and that more than offsets the OSB sale "mistake".

Someone posted recently how they got out of ECA and BBD.B and took heavy losses. My experience is quite different with these two in the aggregate, and both are trading well under the highest prices I have ever paid for them. The secret of course is that that are also well over the lowest price ever paid too.

Then I was lucky enough to need money for a house down payment once upon a time and sold 2/3rds of a winner: that would be Nortel.

I play the expected value and watch the holding size as a percentage of portfolio. This has served me well.

Hboy54
JaydoubleU
Veteran Contributor
Veteran Contributor
Posts: 3103
Joined: 13 Sep 2007 22:52

Re: What did you sell? What might you sell? (2017)

Post by JaydoubleU »

Your grandmother sounds a lot like my aunt. She was a spinster who worked in the garment industry for many, many years. She was a progressive thinker though and began to acquire shares in Bell Canada as early as 1946. I remember my cousin, who was the executor of her estate, remarked what a nightmare it was to calculate the adjusted cost base of her shares factoring in splits and reinvested dividends from a DriP program that she was enrolled in. It took him months to get that sorted!
Oh for an aunt like that! I have 15 aunts, and not one of them is a spinster..... :? My gran left it all to her kids and not one cent for anyone else. However, my father is doing his executor (me) a big favor by divesting his BMO shares now and dispersing the proceeds. I hope I have the willpower to do the same when the time comes for me to pass the baton.

Good on ya, hboy, for making it work. I certainly wouldn't argue that it doesn't, only not for me. I'm probably too emotional to trade effectively. Buy and hold is simpler, and so far seems to be working better.
jay
Contributor
Contributor
Posts: 547
Joined: 19 Feb 2008 21:13

Re: What did you sell? What might you sell? (2017)

Post by jay »

Exited my position in TVIX (a hedging position) at $9.75 this morning for a 10% loss. This product doesn't really work (for example, today the VIX shot up 25% yet TVIX only shot up 10%). Instead, I am opting for tail risk hedging and will be using a 2-3 month OTM put options on major indices from this point on, allocating 0.25% - 0.5% of my portfolio to these hedges, depending how cheap the options get.
DenisD
Veteran Contributor
Veteran Contributor
Posts: 4081
Joined: 19 Feb 2005 01:24
Location: Calgary

Re: What did you sell? What might you sell? (2017)

Post by DenisD »

I'm wondering how far OTM? And how long will you hold them?
jay
Contributor
Contributor
Posts: 547
Joined: 19 Feb 2008 21:13

Re: What did you sell? What might you sell? (2017)

Post by jay »

DenisD wrote: 15 Nov 2017 12:12 I'm wondering how far OTM? And how long will you hold them?
I am thinking 2-3 months far with a strike of 30% below current value. I would keep rolling them every 1-2 months. I calculated it will cost roughly 2% per year unless the market drops quickly 20% or more which is when the strategy should pay off handsomely.

Edit: btw this is based on Mark Spitznegal's hedging strategy but I don't follow it religiously.
jay
Contributor
Contributor
Posts: 547
Joined: 19 Feb 2008 21:13

Re: What did you sell? What might you sell? (2017)

Post by jay »

Just sold Ritchie brothers (TSE:RBA) for a +7% gain. Love this stock for trading. Managed to trade it 3 times so far this year and my entry point was based on the stock hitting new 52wk lows and technically oversold levels (RSI < 30). This was in my TFSA.
User avatar
AltaRed
Veteran Contributor
Veteran Contributor
Posts: 33398
Joined: 05 Mar 2005 20:04
Location: Ogopogo Land

Re: What did you sell? What might you sell? (2017)

Post by AltaRed »

Just sold CAR.UN in my TFSA for a substantial profit (~20% + distributions) from my purchase just over a year ago. Proceeds are going into MAW104 in my TFSA. My latest (newest) objective for my 'never to be touched' TFSA is to have only one holding, i.e. MAW104, in it. Set and forget until my estate cashes it in.
Imagefiniki, the Canadian financial wiki The go-to place to bolster your financial freedom
jay
Contributor
Contributor
Posts: 547
Joined: 19 Feb 2008 21:13

Re: What did you sell? What might you sell? (2017)

Post by jay »

Looking to exit my Cameco position (TSE:CCO), hopefully for breakeven at ~13/share. I started this position a little more than a year ago and averaged down a couple of times. It looked 'cheap' at the time :roll:. Lesson learnt and I think I will stay away from this sector - at least for a while. Metals will have their day; it just takes a lot of patience and conviction to hang on to them.
Dudsy
Contributor
Contributor
Posts: 187
Joined: 26 Jan 2009 10:39

Re: What did you sell? What might you sell? (2017)

Post by Dudsy »

Sold all my IPL today; a sizeable (for me) position. This was always intended to be a short-term trade and is not a reflection on IPL's long-term investment merits. I purchased this late-August based on a substantial increase in NGL pricing coincident with a substantial decrease in IPL's stock price??
schmuck
Veteran Contributor
Veteran Contributor
Posts: 1706
Joined: 21 Sep 2006 20:06
Location: Vancouver area

Re: What did you sell? What might you sell? (2017)

Post by schmuck »

Just sold the 100 shares of PBH (at 105.20 minutes before today's close) that I bought a week ago for my daughters RRSP act at 93.30. It was not intended to be a long term hold as we were already fully invested in it in several family accounts. Just couldn't resist the opportunity when it dropped more than what I thought was justified after its quarterly report.
jay
Contributor
Contributor
Posts: 547
Joined: 19 Feb 2008 21:13

Re: What did you sell? What might you sell? (2017)

Post by jay »

Just exited my position in Boardwalk REIT (TSE:BEI.UN) at $39.95 / share for a 6% loss excluding dividends. It has been on my cleanup list since they announced their distribution cut mid November.
jay
Contributor
Contributor
Posts: 547
Joined: 19 Feb 2008 21:13

Re: What did you sell? What might you sell? (2017)

Post by jay »

Used the 8% pop this morning and sold half my position in ENB at $49.5. IMO, the offering (bad news) should offset the other good news (dividend raise, growth confirmation and debt reduction plans etc...), so me thinks this move is a nice gift. But then again I can be very wrong and hence the reason I only sold half.
User avatar
Peculiar_Investor
Administrator
Administrator
Posts: 13271
Joined: 01 Mar 2005 14:52
Location: Calgary
Contact:

Re: What did you sell? What might you sell? (2017)

Post by Peculiar_Investor »

I am doing some tax loss harvesting this morning. In two non-registered accounts I have sold out our position in Cenovus (CVE) at $12.37, which leaves a very small position in a TFSA that I am planning to keep, at least for now. In the non-registered accounts, the CVE position dates back from the spin-off from Encana.

This puts us significantly underweight the Energy sector and I will spend the next month or so reviewing alternatives in this sector with the view to re-establish a position and appropriate sector weighting (not the S&P/TSX weighting) early in 2018.
Imagefiniki, 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
jay
Contributor
Contributor
Posts: 547
Joined: 19 Feb 2008 21:13

Re: What did you sell? What might you sell? (2017)

Post by jay »

jay wrote: 21 Nov 2017 11:44 Looking to exit my Cameco position (TSE:CCO), hopefully for breakeven at ~13/share. I started this position a little more than a year ago and averaged down a couple of times. It looked 'cheap' at the time :roll:. Lesson learnt and I think I will stay away from this sector - at least for a while. Metals will have their day; it just takes a lot of patience and conviction to hang on to them.
Fully exited my position in CCO at $14/share this porning on this nice pop. Can't find any news yet on why the stock popped this morning, but happy nevertheless to exit with a decent gain.
Irwin
Contributor
Contributor
Posts: 177
Joined: 10 Apr 2014 08:31

Re: What did you sell? What might you sell? (2017)

Post by Irwin »

^^ Uranium producers surge after Kazakhstan's output cut

https://www.reuters.com/article/us-came ... SKBN1DY223
JaydoubleU
Veteran Contributor
Veteran Contributor
Posts: 3103
Joined: 13 Sep 2007 22:52

Re: What did you sell? What might you sell? (2017)

Post by JaydoubleU »

Decided to part ways with my Corus Entertainment--CJR.B

Wish I could say that owning these shares has been entertaining, but....

the high yield is said to be sustainable because they have sufficient free cash flow, and though that may be so, they also have too much debt and no growth to speak of. I dislike the dual class ownership structure and don't feel the Shaws have Corus shareholders' interests at heart.

What sealed my decision was a glance through their TV and radio offerings, most of which I don't care for; mostly garbage.
2 yen
Veteran Contributor
Veteran Contributor
Posts: 4116
Joined: 09 Apr 2005 09:15

Re: What did you sell? What might you sell? (2017)

Post by 2 yen »

JaydoubleU wrote: 05 Dec 2017 14:24 Decided to part ways with my Corus Entertainment--CJR.B

Wish I could say that owning these shares has been entertaining, but....

the high yield is said to be sustainable because they have sufficient free cash flow, and though that may be so, they also have too much debt and no growth to speak of. I dislike the dual class ownership structure and don't feel the Shaws have Corus shareholders' interests at heart.

What sealed my decision was a glance through their TV and radio offerings, most of which I don't care for; mostly garbage.
Sometimes one has to go with one's gut. If the product turns you off, head for the hills.

2 yen
BRIAN5000
Veteran Contributor
Veteran Contributor
Posts: 9063
Joined: 08 Jun 2007 23:27

Re: What did you sell? What might you sell? (2017)

Post by BRIAN5000 »

Sold a bunch of stuff last week, profit taking, tax loss selling, rebalancing, churning some or all of the above.

Sold KO,CWB,VYM,PAYX,BMO, DII and TA

Still to go DIS, GG, FCX, ENB.PR.V and a tad more DII didn't get up early enough on Moanday to get all gone at rally pricing.
This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed
Irwin
Contributor
Contributor
Posts: 177
Joined: 10 Apr 2014 08:31

Re: What did you sell? What might you sell? (2017)

Post by Irwin »

Sold BAM.A today.
Now have to hurry up and sell a couple losers to make up the profit. ha!

No idea what I'm going to buy to replace BAM; "nothing" sounds good right now.
slim
Contributor
Contributor
Posts: 225
Joined: 28 Feb 2005 22:52

Re: What did you sell? What might you sell? (2017)

Post by slim »

On friday I sold 2000 shares of ENB and 3000 shares of Ala
I wanted to realize some capital gains, as I wanted a boost to the income in my CCPC, so that my income would be higher in 2017, and that should allow me to have a higher income in the coming years without the onerous liberal taxation of 73%. I want to be able to realize capital gains every year for many years to come.

Also these stocks are in a downward trend, ENB has a ridiculous PE of 60 and was just downgraded by the rating agencies. Ive been burnt before. Trudeau is intent on killing the energy industry in Canada.
Locked