I'm watching bitcoin craze from the sidelines, as in my opinion there is no place in value investor's portfolio for an item with no intrinsic value. But I'm still interested in how it develops and I treat it as an indication of market being too greedy.
Whether this means that S&P 500 is also near peak is unclear though - I still think the prospects for economy are good and that there will be a continuation of efficiency gains that can help grow earnings at a good pace. But this might indicate that multiples like P/E will come under pressure.
I intend on staying fully invested as long as I find good opportunities. Recent rally of Valeant made me sell a good chunk of shares, but the dollar amount invested is roughly flat.
I liquidated a good portion of small & medium positions to simplify the tax reporting I will need to do for the next year. I intend to keep AAPL, BRK, FB, GM, GOOG, VER, VRX and TSLA(short). I find these reasonably or even attractively priced, having great competitive position and good or great long term prospects. Time will tell.
Whether this means that S&P 500 is also near peak is unclear though - I still think the prospects for economy are good and that there will be a continuation of efficiency gains that can help grow earnings at a good pace. But this might indicate that multiples like P/E will come under pressure.
I intend on staying fully invested as long as I find good opportunities. Recent rally of Valeant made me sell a good chunk of shares, but the dollar amount invested is roughly flat.
I liquidated a good portion of small & medium positions to simplify the tax reporting I will need to do for the next year. I intend to keep AAPL, BRK, FB, GM, GOOG, VER, VRX and TSLA(short). I find these reasonably or even attractively priced, having great competitive position and good or great long term prospects. Time will tell.
No comments:
Post a Comment