Balancing act for the portfolio as this transaction wasn’t motivated by timing. Yesterday I bought additional 65 shares of Telenor ASA for 164,50 NOK per share. Since I’ve gone a bit overweight on some assets, there’s a bit catching on to do. In the following months I should balance my position on General Electric, Coca-Cola and Vereit. Vereit is a tough one as the company has a bit problematic past which hardly justifies a full position. Then again it’s the only fully speculative position on the portfolio and in that sense fits to my current strategy. I’ll most likely build a half position on it.
I’ve also build a 10% position with external liabilities. These positions are also covered by my emergency fund which I’ve been building up lately. I would like to continue doing so for couple of months so it will be a bit problematic to come up with additional free cash for next month’s transaction. I might even skip that since this month has had plenty of extra action. It remains to be seen.
Telenor Investors Site: http://www.telenor.com/investors/
Yet another addition to an existing position on Omega Healthcare Investors (NYSE:OHI) as I bought additional 40 shares for 35,78 USD per share. Lately I have also updated the strategy to allow external liabilities up to 10% of the portfolio value. Such liabilities can pump up the ROE as I would be paying an interest rate of 0.99% for it. Comparing that to a dividend yield above 6% in case of NYSE:OHI makes it a no brainer as long as the involved risks are understood. Then there are the tax benefits on top of that.
Corporate profile: http://www.omegahealthcare.com/corporateprofile.aspx?iid=103065
Safe, stable and boring? Things change quickly as TeliaSonera (HEL:TLS1V) has been accused of operating in not so legal or moral grounds. Muddy Waters Research issued the following open letter to the board of TeliaSonera: http://d.muddywatersresearch.com/wp-content/uploads/2015/10/MW_TLSN_OpenLetter_10152015.pdf. Later the company responded with the following statement: http://www.teliasonera.com/en/newsroom/press-releases/2015/10/teliasonera-comments-on-open-letter-to-the-board.
This led me to take a boring gamble as today I bought additional 250 shares for 4,38 EUR per share. Personally I don’t mind grapping falling knives since catching the opposite kind of knives would require me to position myself in uncomfortable heights.
Today I added to a really small position in Raisio Oyj (HEL:RAIKV) by purchasing 50 shares for 4,30 EUR per share and 200 shares for 4,40 EUR per share. This action has been queued for a while now but there were always something else higher up on the queue. Yes, there would have been better valuations available couple of months ago but this is good enough for me and I expect to build a full position on the company.