Really good portfolio! Excellent work, I like the mix and overall defensive approach.
Regarding the changes, I think questionable background is a very good reason for selling a stock (Eurosnack). That’s a good way to handle future risks and if you for whatever reason lose, or question, trust in managment, it makes sense not holding the stock anymore.
About AOJ it's a well run company with strong market share. Perhaps there is a question how affected they will be from a cyclical downturn. Some value investors/traders in Sweden have sold their holdings, but that’s more of a short term issue, if you hold the stock over the cycles I think the result will be fine. One thing to consider anyhow is how they coped with the financial crisis, not very well (found some danish old reports), but they could be a better company today, and the downturn could be milder.
Lastly, I see that Delfi is a common holding! I will look at all your portfolio in more detail, perhaps more companies will be in common in the future!
Really good portfolio! Excellent work, I like the mix and overall defensive approach.
Regarding the changes, I think questionable background is a very good reason for selling a stock (Eurosnack). That’s a good way to handle future risks and if you for whatever reason lose, or question, trust in managment, it makes sense not holding the stock anymore.
About AOJ it's a well run company with strong market share. Perhaps there is a question how affected they will be from a cyclical downturn. Some value investors/traders in Sweden have sold their holdings, but that’s more of a short term issue, if you hold the stock over the cycles I think the result will be fine. One thing to consider anyhow is how they coped with the financial crisis, not very well (found some danish old reports), but they could be a better company today, and the downturn could be milder.
Lastly, I see that Delfi is a common holding! I will look at all your portfolio in more detail, perhaps more companies will be in common in the future!
Any comment on what appears to be your exit from Hostelworld...I was following this one too curious on why you exited?