Recent Buy: Fortum Corporation and Nordea Bank

Slight change in plans. I was planning to buy back all the Fortum shares I sold recently. I was hoping to do that around 10,80 EUR per share during the next six to nine months or so. Instead I decided to change my allocation a little bit. I still have a bit mixed feelings about Fortum. On the other hand there’s  the political risk which in my opinion is the worst kind of risk for any stock. Then there’s Nordea which has been hit lately because of the so called Panama papers leak. All this led to a new game plan. I decided to buy back 250 shares of Fortum for 11,60 EUR per share and 100 shares of Nordea Bank for 8,29 EUR per share. My original Fortum position was 320 shares and I’ll consider increasing my position to that or even beyond that if the renewables strategy plays out as expected. In general I wouldn’t even consider that if I wouldn’t have strong faith in the current management they have.

Fortum: Result for 2015 video