Well hasn’t August been a very interesting month for the stock market. We saw a huge sell off that created some great buying opportunities for anyone who had the cash available to invest. Unfortunately I did not and I talk about it in my post about the Importance of Free Capital. Hopefully, it is the last time I will have to endure the pain of missing out on some great deals.
Before the sell off happened, I did decide to sell most of my position in Manhattan Bridge Capital, Inc, which I discussed in my post called Sold: Manhattan Bridge Capital, Inc. I sold 118 shares at $3.88 which did allow me to take a small short term capital gain. My plan was to only sell enough to cover my initial investment, which I did, and whatever shares I have left is all purely profit. Although, if I find an opportunity in the future to buy more, I would definitely rebuild my position since I do like the company very much.
Now that I had some cash available I made the choice to strengthen my position in Exxon Mobil and I discussed this in my post called Bought: Exxon Mobil. I was able to acquire 6 shares for $78.97 a piece, which I thought was a good price. Buying these shares allowed me to lower my cost basis by a couple of dollars. Unfortunately if I would have known that a sell off was coming, I would have waited and gotten them at an even cheaper price…. live and learn.
While all of this action was going on I did receive a small dividend payment of $1.90 from my shares of Realty Income Corp. This month I did not receive a lot of dividends but it looks like next month will be more fruitacious.
Recently I have started looking at some new companies and am hoping to be able to start a position in them in the near future. Hopefully Mr. Market will smile upon me and bestow upon me another chance to buy some stocks at a very good price.
I will be updating the Portfolio page to reflect the current standings of the portfolio as of date of this posting.
Until next time I hope everyone nothing but the best for everyone and hope that everyone keeps it in the green!