31 Mar Now 90% invested in our iTrade Fantasy League Portfolio, so now what?
The month of March was quite volatile for the JSE. We made a good decision for most of the shares by not buying everything on 2 March when the JSE was close to its all-time high. We bought in the dips and are now close to being fully invested with the R1m. At the close yesterday our portfolio was above R1m for the first time. That means we have recovered all the dealing costs as well.
Today we bought about R50,000 worth of shares in Remgro, Bidvest and Discovery. Bidvest traded at R337 on 5 March when we started buying. We bought them today at R326.59, a saving of R1,600. We also saved R2,300 on Remgro and R3,000 on Discovery.
We bought the balance of shares in Aspen and Mr Price, about R25,000 in each. Mr Price jumped from R252 on Friday to R264 today. We therefore lost a R1,000 by not buying the 90 shares on Friday. This is one of the few mistakes we made, you can’t win them all.
We are now 90% invested and have just over R100,000 in cash left. We still have to invest R25,000 in Sasol and AngloGold Ashanti as well as R50,000 in the fourth share which currently is Harmony according to your votes. The Resources sector is not doing well, so we are happy to wait a while.
We will soon open the BIG competition to predict the end value of the portfolio. We will stay invested until 30 November 2015 unless we think there is too much downside risk in the JSE in which case we will sell some or all of the shares. You will get a chance every month to predict what the end value will be, except in November, 7 predictions in total. The closest prediction will win 60% of the profits of the portfolio, second will win 20%, third 10% and 10% will go to our charity CHOC, the childhood cancer foundation. In 2013 the winner won more than R100,000 of the total profit of R167,000. Please read the rules in the Facebook app for full details.