In the second half of 2016, I spent very little time on my portfolio. It’s one of the benefits of having a value strategy buying good companies, that you can mostly forget about them. At the start of the half, I was 49% in cash, so I expected to underperform the market by quite a margin. I was pleasantly surprised that my portfolio was up 13.9% in the half, versus 15.1% for the FTSE all share tracker and 8.3% for the S&P tracker.
Still cleaning up my portfolio after a year of not paying much attention to it. I sold HOS:US and BXP:LN last week, and opened a new position in Cambria Automobiles ($CAMB:LN) which brings my portfolio cash up to 46%. A full post on CAMB:LN will follow later next week.
An update on a sold position $SAGCV as well as some additional thoughts on one of my holdings, $ESH:SP. A full portfolio update and 2016 performance report will be following in the next week or two.