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 …