Last week, I continued my strategy of selling positions in companies to raise some cash due to the reasons documented in prior posts. I kept steady at it and now, a big spring cleanup is becoming a summer trimming. I believe that most of the selling is behind but market could still throw an unexpected curve ball and plans can change.
Last week’s sales were bitter sweet as I really like these companies and have been building positions over time, however, I’ve to stick to my strategy to keep some dry powder when market corrects. I completely sold positions in following 2 companies: BNS and RY. As I said, it was difficult to part these two companies, however, I hope that I could purchase them at a better price at some point in future.
So far, I’ve sold 58 companies in my portfolio, with remaining companies close to 39, still a fair decent size for a diversified portfolio. I consider it prudent to sell some of the companies while the market is offering better prices, rather than waiting when it really starts tanking.
What do you think about my strategy of selling some companies or Are you considering similar move in near future?