Restructuring, Reducing, and Triumphing

Today, I made good on my word and sold half of my position in GKK for $2.37.  Although certainly in hindsight it is apparent that I should have held off until later, the fact is my bet is stacked so it won’t matter, in the long run.  Either GKK falters and I lose three quarters of my investment, or GKK endures, and it’s a race to $10.  Either way, quibbling over pennies is not a productive use of my time at this point.

It came into my mind today to restructure my portfolio and begin a meaningful attempt to unwind.  Therefore, I took several actions.

I sold runoff of my MO position at $21.26 for an average gain of 24% before dividends.

I sold one third of my TLP position for $29.16.  Those shares can be traced to the price of $28.96, a gain of less than one percent, but with a 2% dividend now guaranteed, to be payable this month.

I sold my entire ASR position at $55.96 for a 6.1% gain.  I don’t believe I’ll receive any dividends from this stock.  However, I became uncomfortable with ASR’s poor accounting practices.  I have no desire to mess around with black boxes in third world countries.

After this decisive round of unwinding, I then backtracked a little and bought more NRP at $24.56 a share, for a trade.  Dividend reports are collected this Wednesday, May 5, and after I will hold the shares until I can get five percent from them.  I like NRP enough to hold, even if a downturn unforeseeably extends my plans.

Meanwhile, the rest of my portfolio ran considerably higher today.  I’m holding MGM, MO, NM, NMM, NRP, TLP, and VZ, in addition to two now very small positions of GKK and FTK.

In addition to equities, I’m considering making another round of silver purchases in a week or so, if things hold up.  At present, I hold a sizable amount of bullion at my home, and would very much like to add one third to my holdings before silver touches $20 per ounce.

Now, ladies and gentlemen, I’m off to have dinner.  You have my best wishes.