Portfolio update – November 2017

It’s time for the monthly portfolio update for November, and SORRY! we know we are late.

In November we have invested in Schouw & Co. A/S and increased our number of shares in ISS A/S. This showed up being a really bad idea in the short run as both stocks have fallen more than 10% in November – good thing we are long term investors.

Looking at our entire portfolio, November hasn’t been the best month.

We are down 3,62% in our currency. Our newly bought stocks combined with Vestas Wind Systems are the stocks with the worst performance this month and are big influencers in the negative return.

The danish index (C20) actually fell 5% in november and given our portfolio is quite biased to the danish market, it hit hard. Another factor that didn’t go our way was the currency exposure. 1% of the negative return can be accounted to the currency.
You might have recognised that we got a return saying 40,9% in Valeant Pharmaceuticals, but as our position in this stock wasn’t that big before (as it has fallen quite a lot after we bought it), it doesn’t change that much when looking at the total portfolio.

Let’s hope December is more positive than November, and if not…. Then it’s time to buy more stocks!

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