Sold a third of my shares of MCD @ 100.50.
This was a hard decision to make. Much as stubee is in love with his Enbridge shares, I have come to grow very fond of MCD, which I had gradually come to regard as MY COMPANY
. I originally bought it because I saw, day after day near where I live, line-ups at the local McDs: line-ups in the morning, line-ups at lunch, line-ups in cars all the way down the road for the drive-through window. I have come to think of McDonalds as more of a consumer staple than a discretionary . . . I even began to eat there!
However, with the shares trading at a P/E of 20, a PEG of around 2, a book value that would fill an entire library, and a lower and lower dividend yield, I also began to feel that my 75% gain in three years was good enough for now. MCD seems to be going from strength to strength, and I thought it better to take some profits while its on a high rather than wait for the risk that a bit of bad news could suddenly appear.
Meanwhile I still hold a comfortable 3% position in MCD, and I may still grab the occasional double quarter pounder with cheese for the road.
Edited to change two years to three. How time flies.