Showing posts with label Post mortem. Show all posts
Showing posts with label Post mortem. Show all posts
Thursday, April 14, 2016
Update on Yellow Pages
After more than 4 years I'm out of the Yellow Pages (FKA Yellow Media). I had originally bought the preferred shares pre-bankruptcy protection and restructuring. On the actual conversion shares alone I lost about 6%. (I bought some more along the way that more than offset the losses, but didn't buy any right after the restructuring--lacked the conviction and the cash). Doh.
Update: Lululemon (LULU)
I was going through some old posts and came across my buy for Lululemon back in September 2014. The update is that I chickened out and sold within a couple of months (made just over 2%) and missed out on gains of about 60% over the last year and half. Doh.
Monday, February 6, 2012
One Year in a TFSA
Jan 19, 2011: Contribute $5,000 to TFSA account.
Jan 21, 2011: Buy 245 shares of iShares DEX Long Term Bond ETF, XLB, at $20.06. Rationale: lots of negative headlines, it's the end of the world, yields are going to fall.
May 26, 2011: Sold 245 shares of XLB at $20.70, 5.0% total return. Rationale: yields have dropped 26bps (measured by Bank of Canada V39056), they probably won't go up, but probably can't go any lower. Outcome: very very very wrong. Yields dropped another 99bps to the end of the year with XLB posting a 15.6% total return.
June 2011: Bought 250 shares of iShares DEX HYBrid Bond ETF, XHB, at average price of $20.37. Rationale: if yields are not going down anymore, perhaps this will put pressure on credit spreads. Outcome: wrong again. XHB was up less than 1% from the beginning of June to the end of the year despite the fall in Government yields and having a duration of over 6 yrs as spreads widened.
Aug 8, 2011: Sold 250 shares of XHB at $20.65, 2.6% total return.
Aug 8, 2011: Bought 950 shares of SilverBirch Energy, SBE, at $5.50. Rationale: This was a spin-out from UTS after the take over by Total. Possibly sold for non-economic reasons (i.e. just didn't fit into their strategy for buying UTS). Significant ownership and board representation by West Face Capital and The Children's Investment Fund (presumably they know what they're doing?). This is an oil sands exploration company, seems to go along with the idea of exposing yourself to positive surprises (see The Black Swan). Outcome: finally right. Teck Resources makes bid for SilverBirch to develop the 50% of two projects that they do not already own.
Jan 10, 2012: Sold 950 shares of SBE at $9.65, 75.5% return.
Jan 21, 2011: Buy 245 shares of iShares DEX Long Term Bond ETF, XLB, at $20.06. Rationale: lots of negative headlines, it's the end of the world, yields are going to fall.
May 26, 2011: Sold 245 shares of XLB at $20.70, 5.0% total return. Rationale: yields have dropped 26bps (measured by Bank of Canada V39056), they probably won't go up, but probably can't go any lower. Outcome: very very very wrong. Yields dropped another 99bps to the end of the year with XLB posting a 15.6% total return.
June 2011: Bought 250 shares of iShares DEX HYBrid Bond ETF, XHB, at average price of $20.37. Rationale: if yields are not going down anymore, perhaps this will put pressure on credit spreads. Outcome: wrong again. XHB was up less than 1% from the beginning of June to the end of the year despite the fall in Government yields and having a duration of over 6 yrs as spreads widened.
Aug 8, 2011: Sold 250 shares of XHB at $20.65, 2.6% total return.
Aug 8, 2011: Bought 950 shares of SilverBirch Energy, SBE, at $5.50. Rationale: This was a spin-out from UTS after the take over by Total. Possibly sold for non-economic reasons (i.e. just didn't fit into their strategy for buying UTS). Significant ownership and board representation by West Face Capital and The Children's Investment Fund (presumably they know what they're doing?). This is an oil sands exploration company, seems to go along with the idea of exposing yourself to positive surprises (see The Black Swan). Outcome: finally right. Teck Resources makes bid for SilverBirch to develop the 50% of two projects that they do not already own.
Jan 10, 2012: Sold 950 shares of SBE at $9.65, 75.5% return.
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