We are in correction territory with the ongoing fall in the equity markets. During the ongoing selloff, I decided that I needed to shed a couple of the names that I had been considering for a long time before things went even deeper in the red. This is part of the portfolio cleanup that I’ve been working on and this iteration includes two recent sales.
First sale: A company that has lagged and severely underperformed in my portfolio even though on the surface it looks promising and has good assets. I decided to exit my position in Fairfax India Holdings (FIH.U.TO). The stock has not performed at all over the past few years and continues to trade below book value.
Total loss = 24.6% (holding period = ~2.4 yrs)Continue reading