Saturday, November 28, 2009

Pacifc Basin sold

On Friday morning I sold my shares in Pacific Basin (3443) at HK$5.89 per share. My purchase price was HK$5.71 back in June. Including the dividend, I made a net profit of about 4% after transaction costs.

The stock has been a disappointing investment - considerably underperforming the Hang Seng Index in spite of the strong rise in the Baltic Dry Index over the last six months. Being short of cash, I also needed to sell something to raise money to invest in VTech (303).

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