PCOA (Pendrell)

I was paid out for my lone share of Pendrell @ $689.19, which I bought in December because it was trading at net cash. This isn’t a “trade” as much as it is a portfolio event. There was a reverse stock split and tiny shareholders like me were paid out in cash.

This brings my cash balance up to $1,093.81. I am not sure how I am going to deploy it. I may rebalance my country indexes around 9/30 (they were mostly purchased in October 2017) and include this cash in the new positions that I purchase with those proceeds instead of buying something right now. I’ll also have owned Foot Locker for a year on 9/25 (a position that has been very good to me) and may sell that.

This would get me on a cycle of quarterly activity with a big rebalance in December (the blog started in December 2016, when I purchased the original 20 positions). My intention is to hold positions for at least a year unless they increase significantly or the fundamentals deteriorate.

I’m itching to sell Turkey. I clearly made a mistake with that one and should probably adhere to stricter quality criteria for international indexes.

PLEASE NOTE: The information provided on this site is not financial advice and it is for informational and discussion purposes only. Do your own homework. Full disclosure: my current holdings.  Read the full disclaimer.

5 thoughts on “PCOA (Pendrell)”

  1. Thank you for the update.
    Wat has changed to make you itching to sell Turkey? There is a lot of going on there. But the ETF is trading at a P/B of 1,00 and a Price/FCF of 6,25.


    1. The country is falling apart at the seams. The currency is being debased. Of course, it IS super cheap and ugly situations create a lot of value, which is why I haven’t sold yet even though my instinct is to get out.


  2. Might be a bit harsh to say you made a mistake with Turkey – it’s especially hard when you’re looking for value, which usually means buying into situations that aren’t that appealing for most people.

    I struggle with the macro pictures though and prefer to focus on company specific value, so can’t offer much advice on the Turkey situation! Good luck either way!

    Cheers, Frankie


  3. In de link below a good video of value Investor Sven Carlin where he explanes the relation of intrest rates and emerging markets


Comments are closed.