More Sells to Prepare for Buying …

By Travis Johnson, Stock Gumshoe, September 16, 2008

I’ve sold off some more shares to raise a bit of cash for the current environment, looking to add to some favored stocks and generally to reduce some exposure to a few of the riskier names in my portfolio.

I have now sold off my entire holdings in Winthrop Realty Trust (FUR), largely because I just have no handle on the value of commercial property right now.  I think FUR has a chance to do reasonably well during the turmoil, and I like the company management, but I think I can find better investments for the next couple years, so those positions are closed.

And I have sold off half of my holdings in NagaCorp, the Cambodian casino operator.  This is essentially a stop loss at about 25%, though I’m holding the other half and, considering the real value of their license and their casino, I am willing to hold the remaining shares through significant losses if necessary (much like my small position in the Vietnam Opportunity Fund, this is a bet that eventually these frontier markets return to favor — I can be patient on these).

I haven’t been this active in my trading in quite some time — but cash seems to provide a better opportunity now than do some of those holdings in which I don’t have a lot of conviction.  I imagine I’ll be reporting some purchases before too long.

Personal Capital is an advertiser with Stock Gumshoe, but Travis also uses it every day for his personal accounts and finds it invaluable. Here's what he said: "They offer a great (and genuinely FREE) 'second opinion' for your financial plan, but what I love most is their automated financial dashboard -- it will look at all your assets and debts, tally up your asset allocation, project where you'll be at retirement, and suggest ways to manage risk or improve returns. It's free, I think their free tools are great, and I think it's worth checking out -- you can do so here.
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