LM portfolio as at 18/08/2023:
| Code | Sector | Date Bought | Cost | Value | Gain/Loss |
|---|---|---|---|---|---|
| LM055 LM055-2 |
General Financial | 11/01/2023 02/05/2023 |
£2560 | £2980 | 16.61% |
| LM056 | Media | 11/01/2023 | £1270 | £1370 | 7.40% |
| LM057 LM057-2 |
Gas, Water & Multiutilities | 12/01/2023 30/05/2023 |
£2540 | £3310 | 30.46% |
| LM058 LM058-2 |
Support Services | 17/01/2023 20/07/2023 |
£2540 | £2560 | 0.90% |
| LM061 | Aerospace & Defense | 20/02/2023 | £1270 | £1360 | 6.51% |
| LM062 | Food Producers | 06/03/2023 | £1290 | £1220 | (5.45%) |
| LM065 | Travel & Leisure | 24/04/2023 | £1280 | £1200 | (6.38%) |
| LM066 | Beverages | 24/04/2023 | £1280 | £1210 | (5.41%) |
| LM067 | Nonlife Insurance | 02/05/2023 | £1270 | £1050 | (17.49%) |
| LM068 | Industrial Engineering | 02/05/2023 | £1270 | £1200 | (5.79%) |
| LM071 | Construction & Materials | 24/07/2023 | £1280 | £1160 | (9.03%) |
| LM072 | No Specific Industry | 24/07/2023 | £1270 | £1090 | (13.94%) |
| LM073 | General Retailers | 24/07/2023 | £1270 | £1040 | (18.63%) |
| LM074 | Industrial Transportation | 24/07/2023 | £1270 | £1350 | 6.13% |
There's little to celebrate at the moment with the financial markets.
On doing some share price checks this morning it was clear that several positions needed culling/putting out of their misery.
To keep track of all my shares I use a Google spreadsheet, each share gets its own sheet.
Typically once a week I'll update it, going to investing.com and copying the previous week's closing prices before pasting these into the spreadsheet. This updates a chart for each share so I can quickly see how things are going.
Spoiler alert, this week many of the shares' charts show a large decline.
Two of the shares I held for less than a month and both saw an almost 20% reduction in value - LM072 (WISE) and LM073 (AO.).
Both are now gone.
Sold those weak trades immediately. What point is there to holding such poorly performing shares? Sometimes you have to remind yourself that a share that has declined 20% since you bought it now needs to go up by 25% - TWENTY FIVE PERCENT - just to get you back to even.
Apologies for shouting but it is frustrating to see investments that I made in what I thought were strong shares turn around and quickly decline.
Yes, the markets aren't doing well at the moment and it is summer but come on.
With hindsight it appears that in both these cases I managed to buy at the very top.
Typical.
WISE went down 15 days in a row. FIFTEEN! I can't remember ever seeing a share that declined every day for three full weeks. There is something seriously wrong there.
AO. went up on only 4 days in the 20 days I held it.
Pathetic - I'm glad to see the back of them.
I also got rid of another two shares as they had got to the point where there doesn't seem much hope for them. HSX (LM067) went under the 200 day SMA quite a while ago and I didn't pay enough attention. Spotted it this morning and immediately sold.
CPG (LM065) showed some promise for a while and then started dropping. It tried not to draw attention to itself with a slow decline but I wasn't in the mood for clemency at this point so it was swiftly dropped from the portfolio.
Which leaves us with 9 open positions. All are UK shares and that doesn't inspire much confidence at present with both the FTSE 100 and the FTSE 250 looking poorly, down 2.54% and 4.01% YTD respectively.
Now I know precisely when this will turn around and the markets will start rocketing up - it's when I've sold the last of the positions shown in the above table. I guarantee* that'll be the turning point.
* - not a guarantee