I decided to sell my tiny UEX position of 1500 shares. I never got around building a bigger position on it and therefore decided to sell now since the position is way too small to motivate tracking buyout offers from Uranium Energy Corp and Denison Mines Corp. I bought these shares for 0,220 CAD per share and sold now for 0,47 CAD per share. Nice enough gain of 139% but somewhat insignificant amount of dollars.
Month: July 2022
Recent Buy: 3M Co.
Dividend re-investment in lack of better ideas: 10 shares of 3M for 129,90 USD per share. Sure, company is facing all kinds of issues ranging for legal problems to overall inflation environment. I don’t really focus a lot on those with these huge companies. These kind of issues will come and go. Sometimes they might end up being fatal or close to it but most of the time companies will adapt and move on.
Recent Buy: Kemira Oyj
Just a tiny maintenance purchase of 10 shares of Kemira bought for 11,77 EUR per share. Nothing new here as this is just a maintenance purchase done for two reasons: consistently buying something and to avoid fees.
Q2/2022 Results
Another wild quarter has passed. Global economy is still facing pretty much same issues: COVID-19 tails, war in Ukraine and inflation/interest rate issues. On the positive side Finland and Sweden were finally invited to become NATO members but I’m sure Turkey will have additional tricks to use when the process moves forward. I personally don’t see huge risks in this as long as critical member states ratify the membership. This is very positive development in otherwise dire situation. Pandemic can of course take new directions and there’s also the monkeypox situation going on but probably this is something than will keep on fading into the background noise. War in Ukraine seems to be evolving in a positive way, or at least West and rest of the world has been providing enough resources for Ukraine to defend themselves. Russia is bleeding but probably this will take a long time to truly play out. Then there’s the inflation and interest rate issue where ECB seems to be late – as usual – on everything. FED seems to be doing a bit better but I guess situation is far from ideal in US as well.
On personal side this quarter was solid bounce year over year. Market overall has been taking a beating but my portfolio has performed reasonably well as main portfolio only dropped 1.45% during the quarter. Compared to to overall market this is partially explained by the fact that my portfolio bounced back from COVID-19 impact way slower in general. Bounce back was even more visible with received dividends. Q2 dividends before taxes were 5715,66 EUR compared to 2684.31 EUR year before.
What’s next then? I have allowed my cash buffer to grow lately and done some purchases, mainly as dividend re-investments and smaller maintenance purchases. This is likely to continue while waiting for for bigger opportunities. I still have pharma and medical sectors on my radar so I might still add on Abbvie and Gilead Sciences but I might also open a position in Medtronic. Let’s see how things evolve.