First buy of 2017: Delfi (ex Petra Foods)

I recently bought some Delfi shares at $1.43. This was the first time since March 2016, that I bought shares. Delfi is one of the few companies that has not risen with the Trump tide.  I did a cursory glance at its financial results. Earnings were declining slightly due to rationalising of its portfolio but I did not think it justified the a least 44% decline year-to-date. Queuing for the shares was a tough task because of the lack of volume. The bid-ask spread was about 10 cents and the sell queue was sometimes only 2,000 shares. In the end, over two transactions, I managed to secure 25,000 shares of Delfi. My average cost of ownership also declined considerably, in turn reducing my paper loss. Let's just see how it goes with this investment.

Sold my KrisEnergy

I have not really been looking at the portfolio, until my friend asked me recently if I have been investing. It was when I realised that her clients that were invested in funds, were up 15%, while I was most likely down. Delfi, has swum against the rising Trump rally by halving in price. I took the opportunity to look at my portfolio, which comprised 6 companies. Now, on 1212, the portfolio shrank to 5 companies because I sold my shares in Krisenergy. Sensing an opportunity, I bought 20,000 shares in March 2015. However, the oil price environment remains low and I have sold them, taking a 82% hit in the process. Ouch!

In April 2017, I accepted the offer for my Super Group shares. As a result of this, along with the year's injection I am currently 39% cash and 61% in the remaining 5 companies' shares. My main target will be Delfi, as well as other companies close to their 52-week low.