It's been a while since I last picked up my pen to keep my diary. It's neither for lack of motivation nor for lack of new topics to write about. Quite the contrary. The only reason for this absence is that I've been considerably busy reorganizing my stock portfolio. Today, the bulk of the work is done and I'm a little more relaxed about what could happen on the market, given the excessive valuations of stocks. I'm more diversified geographically, by sector and in the types of assets used. Above all, my stocks are much less exposed in terms of price and popularity. I'm going back into the shadows. As the saying goes: "Let's live happily, live hidden."
Goodbye to the Coca-Cola, Macdo, Colgate, Procter and Co., hello Orior, Huegli, Mitsui Sugar, Norway Royal Salmon and Co. But what impact on the path to financial independence?
Some of the new stocks have lower dividend yields. This is particularly the case for some Japanese small caps. However, their earnings growth potential (and therefore dividends) helps to fill this gap. Other new stocks offer particularly attractive yields, particularly among financials. Ultimately, the impact on current and especially future income is more positive than negative. I also hope to achieve total performance (income and capital gains) that continues to be slightly higher than the market, while showing lower volatility.
I will draw up an initial assessment of these various adjustments at the end of the year. What is certain already today is that I am more relaxed about what is happening on the market. Better still, I even hope for a drop in order to take advantage of opportunities.
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Cool, a new article from my favorite author!
Having peace of mind about your wallet is priceless: it's better to earn a little less if volatility is reduced and you can sleep more peacefully.
On the other hand, what was the impact of these changes on the % of achieving your objective? (or the expected delay in years)
PS: Nice expression “primer la plume”, I didn’t know it yet 😉
Oops! Thanks for the correction!
Actually I don't think I'm behind in the end... Maybe even ahead...
I'll give myself until the end of the year to make an initial assessment.
I still have a lot of cash to invest, which is what is currently causing me to fall a little behind, but it is temporary.
Adequate turnaround!
Small companies have a better interest in buying... shares in small companies.
Hello Jerome,
I always read carefully the letters you send us and I thank you for them.
In this, you mention your portfolio. Like you, I currently have far too many US securities and would like to move back to the European market, particularly the Swiss market.
On the other hand, I don't understand some of your choices such as Norway Royal Salmon and Co. The price of this stock continues to collapse, what currently justifies a purchase? Isn't it better to wait until the knife stops falling? Selling MDC for this stock for example seems quite risky to me..?
As for Orior, Huegli or Mitsui Sugar, they don't seem to make you dream. You probably have reliable sources on these titles, or can we find them?
Do you have an opinion on Novartis and Nestlé, which are considered defensive stocks?
Thank you very much for sharing.
Sincerely,
Patrick (Pat Jac)
Hello Patrick
Regarding Novartis and Nestlé I find them much too expensive at the moment.
Regarding Norway Royal Salmon, where do you see the stock collapsing? It's all about perspective... at 6 months, 1 year, 3 years, 5 years the price goes up. I'm already at +20% in a few weeks.
Why don't the stocks you mention make you dream? They are very cheap from the point of view of their fundamentals. It is true that they are not "sexy" values, but that is precisely the goal.:-)
Hello Jerome,
I see the steady decline of Norway Royal Salmon here: http://www.boursorama.com/cours.phtml?symbole=2u0P3N.LQ
My question is not about the fundamentals, but about the opportunity to buy now. It seems that there has been a 20% drop over the past 6 months (but I don't have the variations within these 6 months!)
For the record, yesterday I tried to buy the stock from a UBS account, and I couldn't do it because there is a warning on the stock and a limitation on Norway. Nice UBS...!
Looking forward to hearing from you
Patrick
At home I see it rising except between January and July of this year…
Yes indeed difficult to buy. I had to go through IB.
You have to be wary of sites that display the evolution of prices: I had consulted Boursorama for this title, and I realize by consulting Zone Bourse that the Boursorama price is frozen, therefore not up to date. So, my opinion above, has no foundation, sorry.
And thanks again for sharing!
Ah ok I understand better now! Yes indeed you should always be wary of your sources.
Thanks also for your exchanges on Japanese stocks. I will follow you for small amounts…
My pleasure.
Personally, I take half positions in domestic stocks.
It is of course appropriate to diversify across several titles.
Good morning,
Just a quick comment to tell you that I love your site.
I discovered it while searching for information on mbti. Your profile descriptions are excellent.
And then, while walking, I came across your article on financial independence, which I found fascinating.
Since then I have been very interested in the subject.
I read a lot of articles and books but I find your articles to be very well written and very informative.
I have subscribed to your newsletter and I strongly encourage you to continue!
Kind regards
Audrey
Hello Audrey
Thank you for your encouragement.
It's even more pleasing when it comes from a woman. Unfortunately, you are far too rare here.
Yet this theme should touch you at least as much as it does us… I would even say much more!
Hello Jerome,
I followed you (unfortunately) on ASTALDI. What do you think of the current evolution of the stock market price; -60% since the purchase around November (I don't remember the exact date), followed by a strong regular recovery of the price for about 1 month (+ 8% today). What is this mess in your opinion? Do you think we can recover and find our purchase prices?
Happy New Year and thank you for sharing.
Patrick
Really sorry for the bad timing. Sometimes these things happen with bad news.
First there were the discussions about recapitalization and then the Venezuela crisis.
Now the market realizes that it has overreacted. Especially since a big contract of more than 70 million euros has just been signed.
I try, but it is certainly not always easy, to ignore these short-term events. I will reanalyze the stock during the year to see if changes in fundamentals justify changing my perspective on the company.