Here’s a quick update on a few sales in my portfolio. Sales are always hard, especially when times are good and investors are riding the coattails of one of the best performing bull markets in modern times. When things are rosy, we tend to feel that the good times will continue forever. The world has been awash in liquidity for a decade investors have been awarded for taking more risk.
- Hive Blockchain Technologies (HIVE.V) – This is a small leftover position from last year. I had bought a stake in this bitcoin & other cryptocurrencies mining company and rode it for a good profit. I had sold half of my position last year after booking a 213% gain. The remaining half was sitting in my portfolio doing nothing. With cryptos taking a beating, I decided to close this position completely.
BMO S&P TSX Capped Composite Index ETF (TSE:ZCN) & Vanguard FTSE Global All Cap Ex-Canada ETF (TSE:VXC) – I sold the Canadian and International index positions from both my wife and Baby R2R’s RESP portfolio. I intend to simply their portfolios further by going to one-fund Vanguard ETF instead of holding multiple ETFs. In addition, I think this is a good point to exit the broad equity positions with the coming QT and rising interest rates.
- I also decided to sell my US equity (seg fund) and Intl equity (seg fund) that I own with my employer as part of retirement plan. Ongoing contributions will continue as usual, but decided to book the profits for the year and move to cash for now.
- Options – Last week saw some relative strength in the gold and precious metals market. I think there is still some bottoming to be found in this market before the next leg of the bull market begins. So, I decided to write a couple of covered calls on gold & silver equities in my portfolio. You can see full details of the option trades on this page.
- STO 4 covered calls on Kirkland Lake Gold (TSE:KL) with strike price of CAD$28.00, expiring Dec 21, 2018.
- STO 2 covered calls on Wheaton Precious Metals (WPM) with strike price os US$17.50, expiring Dec 21, 2018.