Thursday, July 07, 2005
Bombings hit portfolio hard
In case no-one had told you, today London was hit by a series of terrorist bombs. At the last count, 37 have died. Though saddened and appalled by what has happened, the purpose of this blog is to document my investment strategy and escapades. So that is what I will be doing today.
News of the disaster precipitated wide falls across the market and my portfolio. My two largest positions, Dana Petroleum and Fayrewood were off 7% and 5% respectively at one point. Chaucer was hit hard along with the rest of the insurance sector, though SVB escaped mark-downs. All recovered slightly throughout the day. Frustratingly, if my position in Fayrewood was not so top-heavy already I would have purchased more shares an the incredibly low price of 102p. But Fayrewood already makes up around 30% of my portfolio, it would be too risky to purchase more. That said, recent advances in Dana Petroleum, Chaucer and Ben Bailey have all reduced my exposure to Fayrewood. I may indeed be a buyer of more shares tomorrow.
Despite the tragic events of today, my life savings still need to be invested where they will produce the best return. So that's what I'll continue strive toward.
The Artful Dodger
News of the disaster precipitated wide falls across the market and my portfolio. My two largest positions, Dana Petroleum and Fayrewood were off 7% and 5% respectively at one point. Chaucer was hit hard along with the rest of the insurance sector, though SVB escaped mark-downs. All recovered slightly throughout the day. Frustratingly, if my position in Fayrewood was not so top-heavy already I would have purchased more shares an the incredibly low price of 102p. But Fayrewood already makes up around 30% of my portfolio, it would be too risky to purchase more. That said, recent advances in Dana Petroleum, Chaucer and Ben Bailey have all reduced my exposure to Fayrewood. I may indeed be a buyer of more shares tomorrow.
Despite the tragic events of today, my life savings still need to be invested where they will produce the best return. So that's what I'll continue strive toward.
The Artful Dodger
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