Recent Sell

BuySell

More sales in our portfolio as I try to save our hard earned capital instead of being blasé about it. Whether now is a good time to sell after stocks have fallen more than 20-30% from their all time highs is debatable. But having an anchoring bias to an all-time high prices & valuation is exactly the reason why I see some investors trapped and not accepting the reality.

I have been pretty ruthless in this set of sales and sold off some of my favorite companies. The worst thing an investor can do is fall in love with a company/stock.

My only loyalty lies with my capital.

When you consider all the macro events going on and the economy coming to a grinding halt (the job cuts are just starting now), we are just getting started with the pain. Following tweet from a Bloomberg writer summarizes where we are & what lies ahead.

So, here are all the sales from last week.

  • BCE Inc (BCE.TO) Gain = +7.6%
  • Brookfield Asset Management (BAM.A.TO) Gain = +6.8%
  • Brookfield Infrastructure Partners (BIP.UN.TO) Gain = +13.4%
  • FirstService Corp (FSV.TO) Loss = -11%
  • (Partial sale) Kirkland Lake Gold (KL.TO) Gain = +252.3%
    • Also wrote covered call options on KL.TO expiring next month. If they get called, I am happy to unload them..else will continue holding. Details here.
  • Toronto-Dominion (TD.TO) Gain = +2.8%
  • (Partial sale) Vanguard Total Bond Market Index ETF (BND) Gain = +11.1%

I am not worried about trying to catch the exact bottom of this market freefall. Tops and bottoms are processes and not single events. They will take time to play out. For now, I am happy to sit on cash and wait for the chips to fall where they will.

After these sales, I am now sitting on 52% in cash, with a heavy tilt towards gold and utilities. Bonds make approx 10% of our overall portfolio.

Full Disclosure: Our full list of holdings is available here.

2 thoughts on “Recent Sell

  1. No question the situation changed quite a bit over the weekend.

    Did you sell your whole portfolio now? Kirkland looks tempting and is one Ive debated now to get more precious metals exposure as the printing presses run the gambit.

    I sold our position in emera today, locking in a profit to secure some cash for future deals or life in general if things snowball even bigger.

    all the best road.
    cheers

    • Just half my portfolio. Sitting on 52% cash as of today.
      KL is a really good price rn. I unloaded just a few shares. Its still one of my largest positions. Risks rn include falling gold price, mine shutdown for covid etc…but from an overall risk-reward perspective, its a good place to be.

      Good to see you are keeping some cash to buy stocks on the cheap in coming months.

      cheers

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