I will follow-up later with a longer post explaining my thinking behind my portfolio changes. For now just getting on paper the changes effective as of market close today:
- Reduce Nagacorp position to 4% of portfolio.
- Sell full holding in Scorpio Tankers.
- Increase position in Irisity to 4% of portfolio (still Speculative).
- New holding Cheetah Mobile at 3% of portfolio (Speculative bucket).
- For the remainder of my cash (about 7%) buy equally into Philip Morris and British American Tobacco (Long Term bucket).
This means I will be fully invested. Going forward for something to go in, something has to go out or be reduced.