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.

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    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.

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  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

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

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