Friday, 17 August 2018

Strategy Report: August 2018 -Turkey Troubles

With US sanctions and shaky economic foundations, Turkey appears to be in trouble. I guess you know you are in trouble if Krugman trots out his "impose capital controls" line in the NYT.

The resulting price drop has made a lot of stocks quite attractive. I went in a bit early and used by my regular August investment amount to buy:

  • ING at $13.77 (new position, 4-stars Morningstar, and 5% dividend)
  • Santander (SAN)  added more at $5.06
  • Lloyds (LYG) added more at $3.12
  • Westpac (WBK) added more at $21.40
On hindsight a little bit early as prices are now off by another 2%. However, I only know how to average down so the price drop suits me. I will add more if the price drops 5% from my previous buying price.

I had already used some of my money set aside for regular monthly investment on some Capitaland (C31) under $3.30 (new position, 4-stars Morningstar, 3.6%+ yield, StockReports+ 8/10), and added a bit to Frasers Property (TQ5).

I suspect that there will be more buying opportunities this month.

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