Month: June 2018

I can’t help myself so I decided to stop trying and bought additional 24 shares of Nordea Bank for 8,135 EUR per share. Valuation appears too cheap and yield too high to pass.

Maintenance purchase for secondary portfolio with a purchase of 6 additional shares of Nordea Bank for 8,225 EUR per share. Rather insignificant as such but keeps the fees away for a quarter.

Lockheed Martin is a long term play of mine. I have a short term interest in the traditional military aspect but long term interest in the space exploration and, as a Skunk Works fan, technology R&D aspect in general. Therefore I decided to buy 8 additional shares for 299,50 USD per share. Many stocks are down today and Lockheed Martin is in the news with F-35 related bonus payment issues – hard to say what’s the impact on the share price today but that’s irrelevant in the long term. US decision to create a new space force branch for the military is also very interesting.

See: https://www.politico.com/story/2018/06/18/trump-space-traffic-debris-630189

AT&T has been down lately due to the litigation for Time Warner merger. They got a favourable decision and the merger is moving on. It’s a move which is very difficult to value as the such mergers tend to come with pros and cons – huge debt load being one of them. Other telecoms are making similar moves on smaller scale but this is big enough to really move the needle. I personally share some of the doubts people are having about this but overall I view this as a positive change. Therefore I bought additional 40 shares for 32,55 USD per share.

See: http://money.cnn.com/2018/06/12/media/att-time-warner-ruling/index.html

Sampo rarely trades below or even close to fair value but when it does, I’m ready to make some unplanned moves. Today I decided to exit from my Citycon and Gjensidige positions and deployed some of the money back to Sampo. While at it, I also decided to increase my stake in VEREIT which is starting to settle the ongoing legal issues. There are still plenty of unknowns there but based on my personal projections the stock appears to be significantly undervalued.

• Sold 1200 shares of Citycon for 1,902 EUR per share
• Sold 220 shares of Gjensidige Forsikring for 130,10 NOK per share
• Bought 40 shares of Sampo for 41,79 EUR per share
• Bought 200 shares of VEREIT for 7,296 USD per share