Portfolio Updates – 03/08/2016

I’ve sold the remaining 200,000 shares of Metro Holdings today at $1.025 – $1.03

After careful analysis, I’ve decided not to wait till ex-div to get the bumped 7 cent dividend. Although Metro Holdings has been one of my core holdings in the past 3 years, going forward, unfortunately the head winds seem strong and I can see multiple speed bumps ahead.

I’m expecting much poorer results from Metro Holdings in FY17.

I’ll probably write up on my experience with Metro Holdings soon. It’s been a highly successful and rewarding investment.

BBR Holdings announced poor FY16Q2 results a few days ago. I was expecting losses from the general construction sector, but the magnitude of the losses surprised me. The share price did not move much though on the news, but the performance of the company is what I’m mainly concerned about.

And it is certainly not acceptable. I’m in the midst of looking deeper into the results, as well as engaging management and hoping they’d be able to explain the losses further. I’ll hold on to my 2mil+ shares for the time being, especially since the most recent lot were bought at $0.165 cents and there’s a fairly sizable MOS.

Valeant‘s results will be coming up next week. This is the one thing that I’m excited about as my portfolio currently has a sizable exposure to Valeant. The results is also the 1st set of results where Joe Papa has had some time on the job. It’ll certainly provide color on how the full year results will look like.

I’m also done accumulating SPY short options. Most were accumulated when SPY was >217.(My Thoughts On My Current Portfolio – July 2016) Ironically, for a guy who self professes to know nothing much about global macro strategies, my shorts on S&P 500 has thus far proven to be the most profitable in the shortest period of time.

Sure, the quantum is small, but the ROI is amazing. This time though, I’ve built up a sizable short position and am just waiting for S&P to tank. I won’t be covering now for a small profit, as I’m expecting S&P 500 to fall much more sharply in the near future.

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