Wednesday, May 21, 2008


Bekaert has returned 35% since bought on 17 January. The price is close to analysts' targets and as I blogged earlier there may be some downside in the market in the near future (though my bet is that it won't be very significant. I now know why my friend thinks this is a good investment or trade. I'm skeptical about how important that factor can be for the company and how sustainable a source of profit it will be. On the other hand that doesn't mean I think the stock is overvalued. Sales recently increased more than expected.

So I sold 1/4 of my shares to return my position to a 1% share of net worth. We booked a €250 profit on that trade. We also received a €110 dividend today (tax was withheld, but I should be able to claim that back from the Australian tax authority). The two together just about paid for the chair :P

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