October 2019 Performance
Surprisingly my
portfolio held up relatively well in October with a gain of ~ 1.12% despite the
earnings disappointments from Constellation Brands (Ticker: STZ) and Qiagen (Ticker: QGEN). Constellation
Brands actually delivered a decent report, but the street did not like the
growing losses with their stake in Canopy Growth (Ticker: CGC). And Qiagen warned of slower
growth in China… I’ve held this one since it’s the IPO in 1996. I can’t seem to
part with this one…
What saved me was Apple’s (Ticker: AAPL)
earnings report. Still amazes me how this company can generate this type of
numbers. I do constantly debate with myself as to whether to hold or sell the
Apple position. The law of large numbers will eventually catch up to Apple and
other mega cap tech companies.
I’m still looking around
the special situations space. Spark Therapeutics (Ticker: ONCE) is starting to look
interesting again. Looks like FTC will likely approve. Now just weighing the odds
of an in depth UK investigation.
Oh of course I forgot to
mention… I did not execute any trades in October.
2019 Performance = +29.88%
with the running monthly returns as follows:
January +7.4%
February +3.7%
March +5.06%
April +7.15%
May -7.90%
June +8.2%
July +1.88%
January +7.4%
February +3.7%
March +5.06%
April +7.15%
May -7.90%
June +8.2%
July +1.88%
August +1.00%
September -0.09%
October +1.12%
posted by Money Turtle @ 8:18 PM
6 comments
6 Comments:
ONCE: back in it? Rumor is vote set for this week
No, haven't got back in yet...
STZ: I don't see any news on why it has been dropping in the past few days. Do you see anything MT?
STZ: Probably in anticipation of Canopy Growth earnings report. Their beer biz is doing fine. Also waiting for FTC approval of their wine divestiture.
QGEN: awesome. Do you see a 50 takeout?
QGEN: I can certainly see a 5 in the takeout price. Qiagen is the leader in the molecular diagnostic consumables space. Customers, who use Qiagen products seldom switch to other competitors. This is a great franchise and will go out with a nice premium.
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