Looking for a bit more liquidity

Took a small profit on Opendoor after reading about its struggle to become profitable, which could take a long time.

Also reduced Magnite again – the holding is still pretty large and there is a huge gain on recent book cost. I would be happy to see this stock way up by the year end, and researchers are bullish. However the chart is indecisive, and a pullback is certainly an option.

A purchase and a profit taken

I have absolutely no exposure to crypto currencies, and do not intend to get involved in ownership any time soon. But I was interested to hear about the business model of Voyager Digital – quoted in Canada and OTC in the U.S. Then I saw that the company just raised USD 100 million in an equity offering at USD 13.10 – so I thought it right to pay up and have a sensibly sized holding.

I have not held CrowdStrike for very long. However the share price is up from the 130s to 240s. Seemed a good moment to take a profit on half of my holding. As my liquidity in “personal” is lower than “pension” I sold the tax protected holding in “personal”.

Markets have had a good run, so becoming a bit more cautious .

More changes

After Atomera’s results the stock moved lower, but still somewhere in between my first and second sale prices. So for an abundance of caution another 10% were sold today, leaving 70% of the original purchases.

Did some research on Star Peak Energy, which is about to merge with Stem – who style themselves as a Smart Energy Storage business. Like the look of this, so bought today.

Some more sales and purchases

As Atomera and Magnite have shown amazing strength I decided to take profits on another 10% of original holdings for both. That leaves me with 80% of my original Atomera and 75% of my original Magnite holdings. Think the total sale proceeds from these two so far may have exceeded the total costs of both holdings – need to check this.

I had a small holding in Unity Software that was down on book cost – as my smart advisers remain relatively bullish I added to this holding today.

I have also read some interesting comment on Pure Storage and decided to add a holding today as well.

In general reducing holdings that have been very successful and trying out a few more ideas.

Bought IPOE and XPEV

The first company is called Social Capital ……………ends in V. It is a SPAC business which will merge with SoFi, a popular financial app.
The second company is Xpeng, a Chinese electric vehicle manufacturer.
Relying on smart people’s research on these two.

Also noticed a company named Hindenburg has been writing negative reports about SPACS – maybe manufactured for bank and hedge fund trading desks. Wonder if they realise that the airship Hindenburg burned then crashed in 1937 – not the other way round.

A few sales to increase liquidity

I sold my remaining position in Morrison, the UK supermarket group, as this has stayed around book cost for a long time now. Probably got my thesis wrong on this one, so when in doubt, get out.

Trimming stocks that had a good run – my 10% sales were Atomera (30.80) and Roku (424.78). 15% sale of Magnite (38.23)

Watching and waiting

Sold Intel and bought Big Commerce

Intel was proving a bit disappointing as an investment, and maybe will take time to get back on track. In the meantime its competitors are doing well. The announcement that their CEO is stepping down in a month or so caused a spike in the stock price which I regarded as a selling opportunity. The reasoning in the short term is that a new CEO can close down divisions, set up new lines of business, etc. Intel has a strong balance sheet, so the company is in a position to pay for all of this, but earnings could disappear until the smoke clears.

Also bought a starter holding in Big Commerce, an e-commerce platform for growing sales. People compare it to Shopify, which is already owned.

Bought Lloyds Bank and Opendoor Technologies

A chartist whom I follow has got a few UK bank shares right in the past. Made me a good profit on Standard Chartered some time ago. So now he likes Lloyds and Barclays, and apparently the fundamental guys mostly agree. Bought a starter holding in
Lloyds and will see how this goes.

Another analyst – who got my attention with his write up of CrowdStrike- likes the potential of Opendoor – so another starter position has been added.

Keeping my eye on stocks like Shopify and Zoom. The latter has now had a big fall from its high – might be worth buying soon.

Year end results Part 2

The other part of my investments consists of personal holdings. Unlike the SIPP there are a lot of capital movements in and out, so time weighted performance figures are more important when looking at results. My headline valuation was down 24.4% over the year, but my time weighted figure was plus 11.7%. Much of the decline in the actual value was due to redemption of a property mortgage. I don’t have much of a clue how my benchmark is made up, but see this was up by 3.5%. The benchmark on my SIPP is base rate plus 1%, so this was only up 1.3%.

I mentioned benchmarks because it is important to understand that managed portfolios can be scrutinized by various non revenue earning departments with names like compliance and risk. The effect of this is that investment managers become more attached to index tracking funds that cover all or parts of the benchmark.

The best performing stocks in this portfolio were Roku and Atomera, and Bango also deserves a mention. Doubt that any of these is included in any index of significance !

Bought Unity Software

Unity was recommended as a long term position when the price was a little higher. As luck would have it, I was too busy to trade.

Bought a part holding today at 138 and will be watching to accumulate.