I wanted to share an update on my investments to follow my previous post about the few shares and funds I bought back in January.
Strong single stock performance
Much of my last post was about ASOS, which I bought at 2508.75 pence/share on 4th January. This was sparked by a strong BUY consensus across various investment firms, which I read about on the Financial Times’ Stocks to Watch publication.
My purchase was validated by the fact that I felt ASOS was a company that I understood well enough, combined with my sentiment about their brand, service and the e-commerce fast fashion market they serve.
They recently released their earnings for the last 6 months to 28th February 2019, which were poorer than forecast but this must have already been baked into the share price because it went up by around 8%. So I decided to sell my entire holding on 10th April at 3559.04 pence/share, which meant a 40% return on investment (after trading charges). I’m pretty chuffed with that- all I’m left thinking is I wish I’d bought more back in January!
My favourite fund
I also wrote previously about a fund that tracks the performance of the world’s biggest tech companies, LEGAL & GENERAL GLOBAL TECHNOLOGY INDEX, another January purchase, bought at 45.15 pence- that’s also up 19%!
The L&G tracker fund is now my only holding. I’m poised to buy more of it but right now it, along with the S&P 500, is the highest it’s been all year so I’m waiting for a dip.
In my previous post, I did say I would take all my money out of the stock market by the summer because I believe a global recession is somewhat imminent. My latest reading into when the economists are predicting the next recession points to 2020, rather than later this year, as had previously been bandied around. I’m keeping a close eye on this and don’t expect to have any remaining holdings by November 2019.
I’ll be sure to share any new stock / fund purchases (if I find any good ones) between now and then!