In anticipation of a big purchase later this year, I am liquidating
part of my stock portfolio and as I mull over which stocks to sell,
Canon (CAJ) and Nokia
stand out the most. Canon has had a nice run in recent weeks with the
stock appreciating almost 30% since early February and 13.48% since we
added it to our model portfolio at the end of 2007.
One of the reasons I mentioned while picking Canon
was the extreme sell-off in the stock due to concerns about a stronger
yen affecting profits in 2008. The yen continued appreciating against
the dollar through mid-March but the stock has instead appreciated
year-to-date as you can see from the chart below.
Canon is an excellent company and
long-term investment but on account of my short-term need for liquidity
and the recent appreciation in the stock price, I am going to take
profits by selling the stock in my personal portfolio after this blog
entry goes out to subscribers. I will also be selling it from the
SINLetter model portfolio based on the closing price of the day.
The above story is the opinion of the author only and it does not reflect
iStockAnalyst opinion. Further, the author is not personally advising you
regarding the suitability of the story for your investment needs. In no event
iStockAnalyst will be liable for any loss or damage including without
limitation, indirect or consequential loss or damage, or any loss or damage
whatsoever arising from or arising out of, or in connection with the use of this
information. Please consult your investment advisor before making any investment
decision.
