Institutional Investors

Selling PIL 0%, Trim OPP/P, TJI +500-1000%

Quick portfolio update.

Selling PIL – I am a bit concerned that they might struggle to meet debt covenants due to a poor harvest.  I have had a couple of year’s dividends on this – so am actually up c5% in total. I sold for what I bought them for.  Little disappointing but these things happen.

Q1 hedge fund letters, conference, scoops etc, Also read Lear Capital: Financial Products You Should Avoid?

Institutional Investors

mohamed_hassan / Pixabay

I am also easing up on OPP / OPPP – they are going impairment crazy, just after I bought.  Weight was maybe a little too much.

I also bought in a touch of DUPD again – didnt get round to posting on they distributed – made a little on it.  Breaking my own rule on this as it is majority owned now – but I think they will delist / pay out eventually….

DDDD is down 50% since my post – I think purely down to liquidity / sales – there hasnt been any bad news.  Of all my holdings this would be the one I would add to- if I wasnt already invested, though it isnt a typical holding for me, it is high risk.

RMA – still hold some – waiting.

POL – waiting

TAU – waiting, very confident this will come good one day.  Not confident on when.

ALF – waiting – it is slowly paying out capital.

PVCS is doing better, typically after I halved my position.

IIP – still hold a little, still very risky with good upside.

FOX – still hold a little.  Unpopular stock but if it isnt a scam huge opportunity here.

FP. – still hold some – nice divi payer, Romania growing economy, 25% discount to NAV.  Not going to get rich off it though.

Tejoori has returned cash after an extended wait at about 58-59c per share, depending on broker FX fees.  Profit since my original posts on this was between 500-1000%.  My overall profit is much lower as I sold as it went up.  I also bought as the position became clearer.  If I hadnt sold some then my portfolio would have been 90%+ TJI.

Still short some tether (crypto coin), halved size of short as financing cost was very unpleasant.  Surprised this hasnt crashed yet – will give it until the end of the year.

Portfolio is now 45% cash.  I am a bit busy on other things so the investing is on the back burner for the next month or two and has been for a while.  I also think markets look pricey so wont rush back in.  This may well be an extended stay on the sidelines for me.

I have bought a bit of gold / silver, not posting on it, I dont really want all my money in GBP so its as good a place as any.

Article by Rob Mahan, Deep Value Investments Blog


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