Tuesday, 4 October 2011

Yikes - portfolio tops 65% down on the year

Wow, how bad is that, my portfolio now is back to its summer 2009 low, just after the second downturn of the Financial Crash. Top fallers year to date:

CAZA - 80% down, 3 bad drills in a row (out of eight planned), one of which was a duster, have knocked the business right of course, down from 65p highs of the year to 8p this morning. Cash on the balance sheet is considerably higher and they did a large placing for this at 40p less than 6 months ago. Shocking, too late to sell now...

GKP - Down nearly 40% on the year with huge dips this past week. Now at 125 when just a week or two ago was 186. No real news here, continues to find billions of barrels in oil and awaits a full permit process from the Iraqi Government.

EMED mining - down 75% from the year high of 22 to 6.5p. Permit news imminent which in normal markets would see the share push its analyst targets of between 35-50p. In this market will it even get to 11p (breakeven for me!).

XCITE energy - Shocking performance as the company blew it earlier in the year with a poor resources estimate. Awaiting final approval to develop its North Sea oil field - due between now and Xmas - touching 115p today. On production with oil at $85 a barrel a full valuation would be about £5.


Feels like capitulation to me but the FTSE as a whole is still only just under 5000 as the risk shares I own have taken the biggest kicking...bring on QE2 for my portfolio. Cancel Xmas.

11 comments:

Blue Eyes said...

If it's any consolation I foolishly checked my SIPP the other day and it is worth less than the cash I have invested in it.

CityUnslicker said...

As is my corporate pension. So much for growth and the power of compund interest.

Nick Drew said...

that is a very good likeness of you, CU

(it may be a good likeness of me when I consider my pension, too)

Sebastian Weetabix said...

Having read Adam Fergusson's "When Money Dies" I am continuing to buy dividend-yielding shares in necessity-type businesses. I see little point in being in cash at all.

andrew said...

Through an unconsidered process of complete incompetence, I am level for the year on my pension.
The unconsidered process being my company got taken over, I transferred my GPP to a SIPP but have not invested it yet.
Funny how not losing feels like winning.
My ISA however is in a simiar state to CU's.

My question is - forgetting that you are x% down, what do you do now - buy utilities / tescos / toilet roll manufacturers / primark - I do not like that idea, but cannot think of a better one.

Budgie said...

My risky shares are off about 50%, but my blue chips are down a lot too. Mrs Budgie, who sticks to 2% ISAs, can't decide whether to crow, or wallop me with a rolling pin.

When I decide to get into gold, that will be the signal to sell it. But seriously I am trickling what cash I can spare into shares because I don't believe there will be a full double dip.

Timbo614 said...

FTSE tanking again... 3.3% as I speak

I'm getting really worried for my Mums stuff. Too late to bottle it now. :(

My pension stuff, well I some have time for it to recover at 84 Mum doesn't.

hovis said...

Talking of pessimism did you see this last week - a little over blown but ...

http://ftalphaville.ft.com/blog/2011/09/30/689781/the-sp-at-400-is-almost-inevitable/

Anonymous said...

The gold juniors in Toronto have been hammered too, GPD is down about 50%, RIO is holding up better, only down 30%.
Ugly days, but I remain optimistic for November, when the next round of money printing should be on its way.

Phil said...

Like Andrew, I'm just about ahead as the family is mostly in cash (we were about to buy a house, but the vendor pulled out on us). ISAs and pensions have however been soundly hammered.

Are we going Japanese? If so, expect more of these wild swings between hope & despair as the market grinds lower for a decade or so. Cash / gilts / tips will be the way forward, plus a few select stocks.

Marcova said...

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