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February 2008 Share Update |
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Saturday, 01 March 2008 |
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Time for another update. Things have started to look up. Two of the companies that I'm holding have really taken off. Minemakers (MAK) is going gangbusters at the moment. I've sold half my holding in the company to lock in the profit which means that the remaining half is completely paid for so there is no risk at all as I'm now playing with someone else's money! Accent Resources (ACS) has been doing very badly. I was meant to sell that one off for a loss months ago, but I missed the sell and decided to ride it out. I'm glad I did, because it has turned around and is now in the black. The other winner at the moment is Australian Education Unit (AEU). This is is a complete gamble as I've gone out on my own and decided to buy without any recommendations. For that reason, I only bought 1000 units. AEU is the company that owns the buildings that ABC childcare centres rent. As you probably know ABC has taken a huge dive and trading has been stopped on the ASX. That obviously had a bad effect on AEU and their share value has tumbled as well. I figure that even if ABC goes bust all of those kids have to be cared for somewhere, so I reckon worse case is someone buys out ABC and takes over the centres (AEU still have a tenant), or ABC recovers (AEU still has a tenant), either way I think that AEU will recover and I'll be there to grab the quick profit! Just to point out how well my portfolio is going at the moment I decided to add a third line to my graph. I'm now tracking my portfolio value (cash and stocks), the value of my initial stake if I had left it in the bank earning interest (cash), and the Australian All Ordinaries (All Ords). Check out the past few weeks!
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