Sunday, November 25, 2007
Bank losses cause real portfolio pain
My big bets on the banks have hit my returns for the year so far. I started Barclays (LSE:BARC) at 577p and then a smaller number again at 549p. I first bought Royal Bank of Scotland (LSE:RBS) at 596p and again at 502p and 435p. Shares in RBS have been as low (briefly) as 380p and Barclays around 500p. I am currently suffering large losses on two shares I was convinced were worth much more.
Was I wrong?
With the information currently available, I think not. I'm happy with my decisions. I'm bitterly disappointed however that I did not have more shares to sell to take advantage of these declines. Tandem Group (LSE:TND) and RC Group (LSE:RCG) have also fallen back in the last couple of weeks. RC Group fell so much that management were forced to issue a statement explaining that they saw no reason for the fall in the company's share price. You can read that statement here:
http://tinyurl.com/3buohg (Investegate).
In the next couple of weeks, two crucial trading statements will be announced that could have a marked affect on my portfolio returns for the year. Barclays will be issuing a trading statement on Tuesday, November 27th and RC Group have promised the market an update in early December. Barclay's announcement could yield a rise/fall at RBS and I believe that at current prices, RC Group is perhaps half the price it ought to be.
The Artful Dodger
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Was I wrong?
With the information currently available, I think not. I'm happy with my decisions. I'm bitterly disappointed however that I did not have more shares to sell to take advantage of these declines. Tandem Group (LSE:TND) and RC Group (LSE:RCG) have also fallen back in the last couple of weeks. RC Group fell so much that management were forced to issue a statement explaining that they saw no reason for the fall in the company's share price. You can read that statement here:
http://tinyurl.com/3buohg (Investegate).
In the next couple of weeks, two crucial trading statements will be announced that could have a marked affect on my portfolio returns for the year. Barclays will be issuing a trading statement on Tuesday, November 27th and RC Group have promised the market an update in early December. Barclay's announcement could yield a rise/fall at RBS and I believe that at current prices, RC Group is perhaps half the price it ought to be.
The Artful Dodger
