As this week I’m now eligible for the 12 month CGT discount, I’ve been waiting to sell off my Supply Network (SNL) shares at $1.60, and today the order filled. I began buying SNL at 42c, however this block cost me 89c – giving me a mere 80% profit for the period. Not bad!
After only writing about Nearmap (NEA) a month ago, I logged in to see I was currently sitting at a 50% profit, so I sold them too. I believe Nearmap have long-term prospects, but such a fast windfall is worth taking now, and if it falls back around the 7c mark I will buy in again.
Finally, while I hadn’t written about Mincor (MCR) I bought a small block of shares due to their low-cost operation, exploration upside, and competent management. In retrospect I probably should never have bought MCR with the current systemic risk out there, which could easily hammer the price of nickel into the ground. It’s another competent firm which I believe will be cheaper in the future, so I have decided to undo my mistake, and picked up 8% profit while I was at it.
I am planning to sell down my BigAir (BGL) too, but since HY13 numbers came out the share price has been hovering around the 50c mark. I plan to sell down at least part of my shares when they return to 60c.
My medium-term portfolio strategy is not going to be holding a lot of value, I’m more focused on a few explorers, cash, and precious metals. Hardly a value portfolio. I still hold CKL in anticipation of an inevitable re-rate of the stock.
In my view, the global economy (including Australia, China, and everybody else) is going to have to eat an enormous shit sandwich in the very near future. My super is now in 100% cash and I get a guaranteed tax-free return by paying down my mortgage. I will keep an eye out for value picks that are less subject to systemic risk, but in the meantime I am sitting and waiting for everything to play out before I go risk on again.