Apparently value stocks are popular again. In Q1 my portfolio, excluding privatly held companies returned 6,7%, including index funds. Again oil stocks contributed significantly, most by Aker BP, but Norsk Hydro has climbed more than 100% since I bought it. During the quarter I have reduced my position to 1/3 in NHY. In the same… Continue reading A short Q1 2021 update
Just a quick portfolio update. I have liquidated my holdings in Höegh LNG. My calculations implies far greater value than the current market value, but the majority shareholder plans to take the company private. In stead of holding on to this, and hope for a better offer, I got rid of the position, and recorded… Continue reading Portfolio adjustments
Normally, I am not concerned about macroeconomics. But during my search for undervalued companies, I have accumulated stocks in sectors who increase in value in an increasing interest environment. My portfolio consists of: Oil, insurance, materials and banking. The oil price has increased from around a $22 low last year to $65-70 today. With these… Continue reading My current thoughts on the market
Just a quick update. I have sold all my shares in Sandnes sparebank at 78 nok a share. And I have bought Panoro energy again, after their deal with Tullow oil. My exposure to the oil industry now is very high. At some point I’ll have to balance this, but for the time beeing, I’ll… Continue reading Portfolio changes
BW Energy was spun out of BW Offshore early 2020, just when Covid hit the markets. Original IPO price was indicated at 36 nok a share, but was lowered to 24,20 nok to secure the IPO. So what is this company, and what do they do? According to bwenergy.no: “BW Energy is a growth-focused oil… Continue reading A closer look at BW Energy
I found a collection of notes from Joel Greenblatt’s 2002-2006 investing class at Colombia university floating around the Internet. I thought l’d share some of the notes here, and what I got from it. This is from the first 100 pages. I might make a note of the last 200 pages sometime later. An introduction… Continue reading Valuing a company — A selection of notes from Joel Greenblatts classes at Colombia university
In this article I have collected some insights from successful investors. I hope you find it useful. “Success in investing has two parts: finding edge and fully taking advantage of it through proper position sizing. Almost all investment firms focus on edge, while position sizing generally gets much less attention.” Proper portfolio construction requires specifying… Continue reading Investing insights from successful investors
Entering 2020 I see in hindsight that I made a few mistakes. While BWE was spun off BWO, I temporarily held a too large position in these two companies. The plan was to reduce my holdings in BWO while increasing in BWE. But just as the IPO was finished COVID-19 hit, and the oil price… Continue reading 2020
As the title says, I have a few changes the lasts week. In August ’19 I bought shares in Norsk Hydro, and doubled this position in February this year. Both transactions were done at about the same price. Roghly 26,70 nok a share. After the shareprice passed 40 nok a share, and I recieved 1,25… Continue reading A few minor changes in the portfolio
Last week I sold my position in ABG Sundal Collier – A nordic investment bank. I sold at 5,80 and the result was an increase about 60% not including dividends. I still believe this company will do fine the next quarters, but I believe I can get better gains elsewhere. Should the price drop to… Continue reading The hardest part – Selling a stock
