Tuesday, June 02, 2009

Pacifc Basin purchased

Yesterday I added Pacific Basin (2843) to the private portfolio at $5.71. The company has a solid balance sheet following a recent capital raising, has not rebounded as much as other comparable shipping companies and does not appear to reflect the recent dramatic rise in the BDI (Baltic Dry Index).

As a negative, the yield is distinctly uncertain. However, after only a month since I started putting money into direct equity purchases, I have already got to the point where I no longer think it is the best practice to focus on high yielding stocks only.

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