Earlier: Thanksgiving 2006 portfolio
* Uchumi (suspended)
Increase: Diamond Trust (rights), Scangroup
Dividends expected: no interims
New listings not taken on: Kenya Re
Best performer: Stanbic (Ug)
Worst Performer: Total (though the dividend is assured)
Looking forward to: none really. I sat out of the Kenya Re IPO, and then didn’t really want it after the shares listed – maybe next year. Same with the Safaricom IPO which is getting dangerously close to the election, but which I expect to sit out again and instead give the money I have to some candidates (2 parliamentary, 1 civic) toward election expenses.
Lessons learnt: (i) you should not try and time trades e.g. company books for dividend close on Thursday, so you try and buy shares on Tuesday – just won’t work; think and trade long term (ii) attempts to buy low and sell high by setting a price based on yesterday’s high/low also won’t work; so think long term and don’t worry about intra-day prices
Performance Summary: The Motley Fool advises that investors should beat the share index to consider their returns a success. The NSE 20 share index is up 1% in the last six months while my portfolio is down 0.7% from May 2007. The actual share holdings are up about 13% but with the cash taken out from when KCB shares sold, the net position is down.