As I posted over last weeks, I’ve been selling positions in companies due to the reasons documented reasons in prior posts. I kept steady in almost completing my strategy of performing a big spring cleanup operation to keep some cash on the side. I believe that most of the selling is behind but market could throw an unexpected curve ball and plans need to be adjusted.
Last week, I completely sold positions in following 9 companies: COP, CVX, ED, GE, GILD, MRK, PG, WFC and XOM. Selling of these and earlier companies does not mean that I do not like them, but, its a matter of raising some dry powder and buy them at lower entry points, as compared to what the market is offering currently.
So far, I’ve sold 56 companies in my portfolio, with remaining companies close to 41, still a 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 when the bear strikes.
Are you planning to add companies and/or plan to sell any company in near term.