Thursday, October 31, 2019

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%
August +1.00%
September -0.09%
October +1.12%


At November 05, 2019, Anonymous Anonymous said...

ONCE: back in it? Rumor is vote set for this week

At November 07, 2019, Blogger Money Turtle said...

No, haven't got back in yet...

At November 12, 2019, Anonymous Anonymous said...

STZ: I don't see any news on why it has been dropping in the past few days. Do you see anything MT?

At November 13, 2019, Blogger Money Turtle said...

STZ: Probably in anticipation of Canopy Growth earnings report. Their beer biz is doing fine. Also waiting for FTC approval of their wine divestiture.

At November 15, 2019, Anonymous Anonymous said...

QGEN: awesome. Do you see a 50 takeout?

At November 15, 2019, Blogger Money Turtle said...

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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