Third quarter is over and we are getting to bearish enough sentiment. Russia’s invasion in Ukraine has escalated but Ukraine has put on a brave fight and seem destined to eventually win this war. Price they have and will pay is enormous but mandatory. Hopefully western nations will only scale up the military support and financial support afterwards. Russia appears to be escalating in Nordic neighbourhood with the explosions in the Nord Stream pipelines and probably more will follow. Then there’s the central bank activities with steep rate increases, inflation being somewhat out of hands and overall very pessimistic investor sentiment. Taking all this into account third quarter was somewhat OK as YTD in main dividend portfolio is still positive but performance during third quarter was -3,47%. Dividends before taxes were 1834,10 EUR (169,54 EUR, 190 SEK and 1 633,59 USD).
Assuming that there’s no big changes in overall environment, I’ll slowly decrease my accumulated cash. Dollar investments will probably be dividend reinvestments unless I’ll start converting received dividends into euros and Swedish kronas. Euro zone stocks in focus will probably include at least Kemira and possibly Finnish heavy industry related stocks if/when those will drop enough going towards recession.