Investment journal 17.10.2019: Telia LT Q3 update & exit

Quite disappointed. Revenue is up quite a bit, 3,5 % ex. voice. But this has come with cost of margin. Gross margin was 57,6% vs. 61% %ish average before that. I was expecting profit growth but due to discounting it's really not materializing. EBT has been declining for 4 quarters in a row. My thesis …

Investment journal 16.8.2019: Glaston exit

6.8.2019 Sold all Glaston @ 1.19-1.275 I sold half of my position, which was originally quite big 9 %, already few weeks ago @ 1,275 eur because I lost conviction on the trade. I had just realized 50% loss on CAFOM, and decided to haircut positions across the board as I lost some confidence. Now …

Investment journal 16.8.2019: Apetit house keeping H119

Mixed feelings of the H1/19 report. Frozen Food segment improved operative EBIT by 1 MEUR to 1 MEUR. H2/18 the comparable EBIT was 2,3 MEUR. If H2/19 also improves by 1 MEUR then run rate frozen operative EBIT would be 4,3 MEUR or higher range of my estimate in the last Apetit journal. So Frozen …

Investment journal 5.6.2019: Tinkoff equity raise

Yesterday, Christian Ryther, portfolio manager of Curreen Capital, came up with vlog entry on merits of investment journaling. I keep mine, a lot less structured than what is mentioned in the vlog, but investment journal anyway. I enjoyed the video so much that decided to publish my latest entry re Tinkoff :). 5.6.2019 Tinkoff update So …

Trading diary entry: Purchase of Kotipizza

This post continues my unpolished "Trading diary entry" series, this time about Kotipizza, which I bought about two years ago and erroneously sold by end of 2016 "because high P/E", and now bought back of continued good performance. My original and more detailed writeup from 1,5 year ago can be found here 6.10.2017: Bought Kotipizza …

“Trading diary”: Danske Andelskassers Bank

So, I keep trading diary of (almost) all investment decisions to keep track of them and to remember why I did what I did. This is not "polished" blog post but quick thoughts on what was running at my head at the time of my decision. I usually don't publish them because they are not …