Sunday, December 17, 2017
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.