I read a really interesting piece on oil prices, it was contained within a fund report, but I recommend people read it. I have noticed many opportunities in oil producers in the last couple of months, and this piece seems to have noticed the same thing. I already invested in Novus Energy, and missed another investment opportunity which I haven’t mentioned, but will in time.
Here is the report [link since been removed], the discussion on oil starts on page 6.
While this is a short post I thought I would give an update on the portfolio. I reduced my position in Amlin (LSE:AML) by half, as I feel it is fairly valued but still a good long term buy and hold that will benefit from rising interest rates. It now represents 5.8% of the portfolio.
Also as I mentioned previously, I swapped my stake in IBM for a stake in Oracle, this makes up 3.3% of the portfolio.
After my post on Craven House Capital, I continued to add to my position and it now makes up 22.7% of my portfolio.
The portfolio is now 13.2% in cash, and still fully hedged against the USD, CAD and AUD (my base currency is GBP). Since the half year point (1st July) my portfolio is up double digits and is beating the FTSE All-share tracker (inc. dividends) which I’m pleased about, but I won’t give a proper breakdown until the end of the year as I don’t really believe in monitoring a portfolio more regularly than every 6 months. It encourages short term thinking!
Finally, the website has undergone a redesign (in case you didn’t notice). I hope readers like it!