Thursday, June 26, 2008

Im buying

“Be fearful when others are greedy and greedy when others are fearful” - Warren Buffett


I'm like my wife at the annual Smith and Caughey sales at the moment. Last week I picked up some more Fisher and Paykel Healthcare Ltd [FPH.NZX] and Michael Hill International Ltd [MHI.NZX] and today I added 2000 more shares of Pumpkin Patch Ltd [PPL.NZX] @ NZ$1.53 and included a new addition to the Share Investor Portfolio by adding 3000 Briscoe Group Ltd [BGR.NZX] shares @ 99c each.

I'm really liking retailers at the moment and am taking my opportunity to buy while others are selling. The downturn isn't going to last forever and those daring to be contrary now will be rewarded well in the future.

I vowed I wouldn't add any extra funds to the portfolio but it is only a small purchase and I am going to pay it back from the $10000.00 in dividends coming around September.

I would however like to get my hands on Hallenstein Glasson Holdings Ltd [HLG.NZX], another good retailer which is now paying an excellent gross dividend of around 18% based on current profit figures and an historically very low share price.

Now clearly stocks could get cheaper before they recover, but I bought today at a price that I am happy with and what I consider will add value long term to my investment stock portfolio.

The Share Investor Portfolio is still well in positive territory when imputation credits and dividends are factored in but down around 4% when the tax credits are excluded.

Related Share Investor Reading

Why did you buy that stock?[Pumpkin Patch Ltd]
Why did you buy that stock? [Fisher & Paykel Healthcare]
Why did you buy that stock? [Michael Hill International]


Share Investor's Annual Stock Picks

Share Investor's 2011 Stock Picks: Looking Back
Share Investor's 2011 Stock Picks
Share Investor's 2010 Stock Picks
Share Investor's 2009 Stock Picks
Share Investor's 2008 Stock Picks

Brokers 2011 Stock Picks


Related Amazon Reading


The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition)
The Intelligent Investor: The Definitive Book on Value Investing. A Book of Practical Counsel (Revised Edition) by Benjamin Graham
Buy new: $14.95 / Used from: $9.73
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Security Analysis: The Classic 1934 Edition
Security Analysis: The Classic 1934 Edition by GRAHAM
Buy new: $37.80 / Used from: $29.48
Usually ships in 24 hours

Buy these two Books @ Fishpond.co.nz

Fishpond




c Share Investor 2008