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Trades (Jul 31 - Aug 1)
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July 31 Apple Inc. [AAPL]: At last I get to pick some pure IT stocks. I have been exceptionally bullish on Apple for quite a few months. Still, I was a bit wary of investing at the lately high prices. Somehow the market got momentarily scared because of a rumour production of the iPhone or iPod was going to be cut in half. Apart from the fact that this was more to be expected for the iPod which is waiting for a refreshment in the coming weeks, this was simply ridiculous when compared to the sales figures released by AT&T and Apple. Once the network is fully cracked (I believe we are already half-way), the iPhone will sell like hotcakes (it's not like I'm bullish on AT&T...). And as is custom, the stock slumped just before Steve Jobs' announcements. I don't get this though... every time this guy talks, the shares sore... why does the stock slump every time just the same?!! The thinner iMac I like btw. In the following turmoils, this stock sort of hit a floor at around $130 so retrospectively I am quite happy with my buy... this should be a solid performer. Bought at: $133.27 August 1 Walt Disney Company [DIS]: Disney has been a star in the stock market for decades; and was also the victim of the pre-earnings-release slump effect too. I especially liked their strong fundamentals and ability to turn around the decaying park business within a couple of years and without any huge capital expenditure. Bought at: $32.79 Wendy's International [WEN]: I bought this stock for two reasons - one-way risk arbitrage for the Triarc $37 - $41+ offer (which faces some problems on confidentiality... however I think these have weighed too much on the price), the strategical gains of such a merger whatever the price, the consciousness that current employee problems will not impact on profits or image (it was not Wendy's who closed the stores... in fact, Wendy's has good chances of winning damages for the closing downs, and of getting a reputation boost by playing hero with these employees with the reopened restaurants and damages payout obtained). In addition, this stock has been battered by McDonald's great performances... however, I am confident that Wendy's can improve their business over a one- or two-year max business restructuring plan. Bought at: $35.14, Aug 9 = $31.52. Lehman Brothers Holdings Inc. (LEH): Risky "balls-of-steel" (CNBC right?) business! It has been since October 2005 that LEH hasn't been below $60, and that's about the only reason I bought this at $61.04. [SOLD] ABN AMRO Holding NV (ADS) [ABN]: See July 30th. Increased my position at $47.68, the day's NVA price because of technical problems on the website. | ||
