My cash reserves are above my hard limit so I bought additional 400 shares of CapMan Oyj for 2,81 EUR per share. I find this valuation to be acceptable even though the overall situation if full of risks. This is mainly dividend play but the sector has some serious M&A potential as a bonus. It’s extremely difficult to say anything about the likelihood of CapMan being part of such activity and if it would be, it would be difficult to know on which side of the table it would be sitting on. I see significant risks on the market but will follow strategy as follows: re-invest dividends, try to limit cash reserves to current level and focus on primary DGI strategy.
Month: August 2022
Recent Swaps: Fortum for Capman and Kemira & Warner Bros. Discovery and Orion Office REIT for Gilead Sciences
Streamlining portfolios towards original primary strategy started or continued. I sold my modest Fortum position consisting of 270 shares for 10,225 EUR per share. This is hopefully a short to mid term exit. I still see Fortum as relevant company to own in 2025-2035 timeframe but current mess with Uniper and energy crisis is such that I expect to to easily buy these shares back in period between Q4/22 to Q1/23. Meanwhile I record minor loss here to offset some taxes. I used these funds to increase my positions in Kemira (70 shares bought for 12,32 EUR per share) and Capman (100 shares bought for 2,82 EUR per share).
While at it, I decided to also sell my Warner Bros. Discovery (79 shares sold for 13,55 USD per share) and Orion Office REIT (50 shares sold for 10,08 USD per share) and buy additional 25 shares of Gilead Sciences for 63,59 USD per share. These transactions also record minor losses to offset some taxes but are likely exited permanently or at least it’s difficult to come up with reasoning for re-entry.
Sold: NexGen Energy
This is quite likely short term exit and bored attempt in trading but I sold 300 shares of NexGen Energy for 5,40 CAD per share. These shares were bought in 2,07-2,21 CAD range. Uranium sector is likely to provide plenty of volatility but mid and long term vision is still intact. Therefore I might buy back these shares later. Then again I’m interested in simplifying the portfolio by focusing more on the main strategy. Let’s see how coming months play out.
Recent Buy: Kemira Oyj
Once again maintenance purchase with 20 Kemira shares bought for 12,19 EUR per share. Nothing special here as this is one addition to the long list of similar purchases. However, my cash reserves have reached my soft limit so I should really make bigger moves but gut feeling has prevented it lately. I’ll have to keep an eye on this topic but if my gut keeps complaining I’ll just make these maintenance purchases and re-invest dividends. In general holding cash might be a bit bad idea but my personal inflation level is very different. Therefore inflation does not hurt me quite as much as most people.