Trinity Mirror so cheap I can't buy

PUBLISHED: 20 Apr 2012 @ 10:03 | Comments (0) | More info about Clem Chambers

It’s frustrating when two of your favourite stocks are falling and you already have enough stock.

Becoming undiversified is a lethal mistake. As such, I have enough Trinity Mirror (TNI:L) and enough RM (RM:L)

Trinity Mirror is very risky because there might be something very nasty under the hood – surely there has to be for it to be anywhere near this cheap. However, I have reached my ‘maximum allotment’ so I can’t go bigger. If the skeleton in the closet fails to kill the company, then the stock really is shockingly cheap.

A director of RM meanwhile, just brought a crate-load of his own stock. I would also load up normally following this action, but once again, I already have my maximum allocation.

Meanwhile, I continue to take drawdowns, even if my rolling returns are better than most hedge funds. I’m down about 20% from the recent highs, but still 6-7% up in the few months this portfolio has been ‘live’. These setbacks are, of course, trying, but I am forced to just sit and wait and take the pain.

Meanwhile, the US appears to be going bipolar with old-fashioned 100 point daily swings on the Dow. This is probably a bad sign, but bad can flip to good in days in markets like this.

Patience and tranquillity is the order of the day for any investor. I need to wiki TM.

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