COPIERS AND FOLLOWERS UPDATE
Hi everyone, this is just to add a couple of things to the last update I did a few days ago.
I'm sure a few of you will have noticed that, after much deliberation, I have sold our $GSK.L (GlaxoSmithKline) position, which the portfolio has held for a fair while. Despite wanting to hold our positions for as long as possible I felt that, for the moment, this was as far as I was prepared to hold this stock for.
Looming patent expiries and concerns about vaccine sales, especially in the wake of the current U.S administration (which is where the majority of all GSK's sales are) have convinced me that funds invested in GSK would be better off allocated elsewhere.
Despite selling at a 25% loss, pretty much all of this was due to the spin-off of its consumer health business $HLN (Haleon PLC-ADR), which the portfolio received the funds for. In addition, GSK is one of pharma's leading dividend payers, with a current yield of over 4%, which the portfolio has been collecting over the years.
It could well be that in a few years time this stock will be worth revisiting if they start delivering on their research and development, as well as settling any ongoing litigation over their Zantac medication. However, for now I sense there will be buying opportunities round the corner which these funds might be put to more productive use.
In a very brief economic update, volatility still persists and has very much been on show over the past 2 days. Yesterday Trump announced tariffs on Mexican and Canadian imports will start next week as well as additional levies on Chinese goods, re-igniting market worries. However, markets have recovered back after more encouraging inflation news today from the States.
As I have already mentioned, we can expect this volatility to persist for the moment, but the portfolio has done well in this environment, gaining in both January and February this year, with March being a seasonally strong month for stocks to look forward to.
Have a great weekend, and please leave any questions or comments in the feed below.
Best wishes, Richard.... Show More
You have an impressive portfolio Richard.. I'm impressed.. I swing trade/day trade.. so don't hold stock's for long.. though if I did.. I'd have a variety like your's.. ... Show More
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