Lucky … or Good?

A friend of mine is fond of the saying that it’s better to be lucky than good.  This has been a source of many discussions over the years.  For once I might have to agree.

In my previous post, I was preparing to do a little ‘spring cleaning’ with my portfolios.  I was (reluctantly) willing to part with the fees required to reorganize (not re-balance) them.  I’m almost done with this round with one transaction (waiting for an ex-div date) and a couple of odd lots to go.  I placed the initial sell order on the 20th and subsequently spent the weekend nursing a case of buyer’s (or is that seller’s) remorse.  Little did I realize I was going to be the beneficiary of one of the markets crazy mood swings.  I’ll use DIS as one example.  I sold it at $108.74 (.20 off it’s high for the day).  By the time it had settled and the proceeds moved to another broker, I was able to repurchase at $106.64.

Did I realize the market would swoon last week?  No.  But I was able to use my good fortune to cover my fees, add to a couple of Core positions, initiate a small Canadian portfolio and increase my overall share count.  By week’s end my holdings totaled 97 companies leaving 3 slots for upcoming spinoffs (BAX, MSG and BX).

Now to relax a little and let the dust settle …

Spring Cleaning

I’ve come to realize that I’m a hoarder.  Not only in the random boxes stuffed in the garage, but in my portfolios as well.  There was a logical method to my madness (pun intended since it’s March) but I’ve come to realize that the amount of time managing three portfolios across (I believe eleven or twelve) platforms is a bit much.

So today, being the first day of Spring, saw my initial efforts at consolidation.  I decided to leave the IRAs and Option account alone for now and begin with one of my taxable portfolios.  It was November 2002 when I last went through this exercise so it was probably overdue anyway.  Then I had a couple of brokerage accounts.  Now I have several.  Then I owned about ten stocks.  After I finish, I should prune back to about 110.

I’ve decided to use four platforms going forward with no duplication in stocks.  For instance, KMB was held in Motif and Computershare (DRIP). With the fees being similar, Computershare gets KMB.

The four accounts are:

  1. Brokerage – limit orders, GTCs, Covered Calls
  2. DRIPs (batch)
  3. Motif (market only)
  4. Loyal3 (batch,limited selection)

Over the next few weeks I expect to complete this without significantly impacting my dividend payment flow.

Until then …