Thursday, July 23, 2009

I'm Buying: Mainfreight Management delivers the goods



I must have had some kind of brain explosion yesterday, something in my personal life made me drop my risk/reward guard and I ended up spending just over $35,000.00.

I have wanted to have a medium sized splurge on a few stocks for the last year or so and the life changing event yesterday allowed me to finally release the financial and mental rubber band and take that risk.

I have been chugging along buying small parcels of shares over the last year April 2009 | July 2009 | July 2008 | June 2008 | June 2008 | but yesterday ended up buying 7000 more The Warehouse Group [WHS.NZ] shares and 1875 Mainfreight Ltd [MFT.NZ] shares at $4.20 per share, to take my holding to a nice round 5000 in the old Share Investor Portfolio.

I was tossing up between Mainfreight and Ryman Healthcare [RYM.NZ] and superior Mainfreight management, which I often obsess about, won me over.

I bought my original Mainfreight holding just over 2 years ago for just under 8 bucks, yes you read it right, 8 bucks. Over that holding period the stock has now cost me around $6.85 per share after dividends and tax credits are added, so that makes yesterday's purchase a bargain.

I am happy to hold at both prices.

** Photo & share purchase dedicated to my dear old Dad, who must be still driving a truck, wherever he is now, for the last 15 years!


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Recommended 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
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