New name for the monthly posts , changes instead of additions. Why, well I sold one position in my portfolio. My favourite sneaker manufacturer Adidas. I bought it back in November 2015 and sold it last week. The question is why of course as I am very long term. First the appreciation is very substantial in this period. I can’t really add any more to the position without tipping the balance in the portfolio and as a result also the dividend percentage dropped significantly. For me the valuation just got a bit too high and the payout of selling was very attractive.
I will still follow the company and I am sure to buy it again at lower levels. As for the addition this month it has been BMW the German car manufacturer that will along with the rest of the established auto motive branch , according to all the experts lose from Tesla. But until that happens is a very good investment. It has had some downturn last year and at the beginning of this year and is now slowly getting out of that hole. It’s around 80 Euro at the moment which is not cheap but simply good value. Debt position is average and should increase.
Dividend is 3,20 Euro per share which is around 4%, fair result. Another reason is I am spotting a lot of people looking at BMW as their new car. Maybe not the usual market indicator but one famous fund manager always said, look around and buy what you see people buy and company’s you understand. Along those lines anyway. So it’s all about the Germans this month.