Stocks went down today mostly because of the North Korean missile experiments. I took the opportunity to deploy some of the cash from the sale of Scorpio Tankers back to market in the form of Sampo Plc. I bought additional 12 shares for 43,70 EUR per share. Mentally this might be considered as the maintenance purchase for September but let’s see what the market has in store for us as this could the beginning of mid sized correction.
I’m also looking at couple of companies I might be interested in. First of all I’m waiting for a pullback in NEL Hydrogen to open a very long position on it. Really interesting sector to be involved in as energy and transportation sectors are transforming to something new. Second company on my list is Apple Inc. Valuation seems to be quite reasonable given the size of the company and phase of the overall market. If the stars align correctly and there’s no market meltdown nor unexpected product and delivery problems, I don’t see why the stock would reach for the 200 USD per share valuation during the first half of 2018.
I hate selling but sometimes it makes sense. In retrospect I have usually failed at the timing but a plan wouldn’t be a plan if I wouldn’t at least try to execute it. With that in mind I decided to sell all my Scorpio Tankers (NYSE:STNG) shares for 3,583 USD per share which translates to a minor loss. Looking back couple of months the stock has seen daily swings around ~4 percent. Today the swing was a positive one so I decided to exit the position for now. It’s very likely that I will have the possibility to buy back the shares for a bit cheaper but I’m not convinced I’d do so but it is something to consider.
Maintenance purchase for August consisted of 7 shares of Fortum Corporation and 8 shares of Sampo Plc. I wasn’t really planning to increase my Fortum exposure but lately anonymous buyers have pushed the price up. This might indicate that someone has knowledge of upcoming M&A actions so this minimal increase was justified. As a bonus it also rounded up the total share count to full hundreds which gives me some unexplained mental pleasure. Sampo on the other hand is an easy decision even though the valuation isn’t cheap. It’s partially preparation for switching Nordea for Sampo if they choose to move to Denmark. In addition to these small purchases I decreased portfolio D/E ratio to 0,123 from 0,135 a month ago.
- 7 shares of Fortum Corporation for 14,94 EUR per share
- 8 shares of Sampo Plc for 44,59 EUR per share