For the first time in many years, I did not feel the pinch when the market indices were sliding on thursday and friday (first half). I think now there are serious takers for mid caps and small caps. I bought one small cap as it was going too cheap and my dividend yield was working out to be over 5%. I sold out on one stock booking losses and bought another(one I already own) with that money. It means one less stock to watch. With the addition of that one small cap stock, I have now the same number of stocks as before. I always felt that fewer the annual reports I get, better I can read them. What say?
Now can i hear you guys asking which small cap?, I can drop a few hints. (1) It is trading below book value (2) It has no debt (3) The promoter has recently announced a buy back offer at a price above the current market price. Come on, put that grey matter to some serious work. I do have some concern though on small caps. The season, or should I say, the fancy for small caps comes once every 5 to 6 years. So my patience will definitely be tested. Maybe, I become a better investor that way. So let us just see!
As for the markets, I think we should have a good December. The broadbased movement in the market is a good sign. Last weeks narrow range also is a good sign. So all the best for a good rise!!